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Secretive Real Estate Purchases Driving Inequality

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Major investors spending millions on real estate via offshore companies or trusts are increasingly dodging authorities, and in turn, setting off sizable ripple effects in global markets. An investigation by the International Consortium of Investigative Journalists outlines growing evidence that massive offshore real estate purchases could negatively impact those lower in the property market, who may be priced out of their homes. The uber-wealthy are taking advantage of tax breaks created by appreciating values, which The post Secretive real estate purchases driving offshore economies appeared first on The Real Deal New York.

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