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A comment on $2T in Proceeds of Corruption Removed from China and Taken to US, AUS, CAN, NL. Parent comment

Re:$2T in Proceeds of Corruption Removed from China and Take... by jacobolus on Monday January 02, 2017 @03:59AM (#13299949)
The “local experience” of every young person being priced out of their hometowns and needing to move >50 miles away from home to afford a shared room in a small apartment. The “local experience” of 35-year-old couples who can’t afford to start families because they have a tiny rent-controlled studio apartment they got 10 years ago and now can’t afford to move. The “local experience” of all the artists and musicians who originally made a neighborhood trendy all getting priced out and moving far away never to return. The “local experience” of having all the teachers in the region working second jobs as bartenders so they can afford to live in a tiny apartment somewhere within a 30m commute. The “local experience” of having all the stores in town selling basic items close because the only stores that can afford the rent are upscale clothing/jewelry/etc. or fancy restaurants. Etc.

Yeah, what a wonderful “local experience”.

[ Parent | on HN ]
Re:$2T in Proceeds of Corruption Removed from China and Take... by Hondor on Monday January 02, 2017 @06:41AM (#13300582)
That's unavoidable anywhere population is growing. We don't have a right to buy a house where we grew up. Or maybe those kids can ask their parents to sell their house to them at far below market value. You're asking someone to do that, why not their own parents?

The opposite effect happens in small/shrinking towns. Kids who grow up there and move out for a career can afford to buy a house where they grew up but don't want to. Should these people be forced to move back to their small town so they don't displace the "rightful" residents of the booming city?

[ Parent | on HN ]