Why NYC must keep its markets global

Source: nypost.com nypost.com

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Canada recently banned investments in residential property by non-Canadians for two years, aiming to cool off an overheated housing market which saw the average Canada home price surge by 20% in 2021. Meanwhile, Florida Gov. Ron DeSantis wants to ban sales of homes and farmland in his state by companies from China, a “hostile” nation. Can you imagine such measures in New York City? Of course, you can’t, because our “global capital” status means welcoming as many UK pounds, euros, Chinese renminbi, Japanese yen, Israeli shekels, Moroccan dirham and Saudi riyal as we can lure to the five boroughs. Our...