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A comment on U.S. Will Track Secret Buyers of Luxury Real Estate. Parent comment

Re:U.S. Will Track Secret Buyers of Luxury Real Estate by jacobolus on Sunday January 17, 2016 @01:54AM (#10918612)
The point of the new rules is to target current money laundering in the easiest way possible. Trying to inspect all real estate transactions would be incredibly expensive and cumbersome for the state.

It’s possible that folks trying to launder money will switch from doing a single $20M transaction to doing 20 $1M transactions instead, and not change their level of overall activity. At the very least it’ll be a pain in the ass for them, though.

This might not be the ideal policy, but it’s easily explainable if you try to look at it from government officials’ perspective. (So I wouldn’t really call it “odd”.)

[ Parent | on HN ]
Re:U.S. Will Track Secret Buyers of Luxury Real Estate by mc32 on Sunday January 17, 2016 @02:18AM (#10918671)
>Trying to inspect all real estate transactions would be incredibly expensive and cumbersome for the state.

And the titles companies on whom executing this regulation will fall... It's not like they all have the resources to hunt down shell companies all over the map.

[ Parent | on HN ]