Foreign real estate investment increases employment – research

The authors found the properties are often left empty, but drive up home values and employment

Small toy houses

Foreign real estate investment spurs economic activity and induces gentrification, says a paper published by Oxford University.

The authors are Zhimin Li, a professor of economics at Peking University, Leslie Sheng Shen, a senior economist at the Federal Reserve Bank of Boston, and Calvin Zhang, a senior financial economist at the Federal Reserve Bank of Philadelphia.

They looked at Chinese nationals’ purchases of homes in California from 2001 to 2013. They found the purchases increased local

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