From the point of view of the greater economy it's not helpful to have people buy property (and thus increase property prices by creating demand) to just rent it back out.
It's only helpful if they are helping increase the quantity of housing or somehow providing some other kind of service.
Simply using rent to pay the mortgage is really not something that we as a people benefit from. It would be better for everyone if that immigrant in Queens invested their savings into something else that would provide value.
It's only helpful if they are helping increase the quantity of housing or somehow providing some other kind of service.
Simply using rent to pay the mortgage is really not something that we as a people benefit from. It would be better for everyone if that immigrant in Queens invested their savings into something else that would provide value.