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Thoughts on Asunción, Paraguay

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83 points Michelangelo11 | 1 comments | 23 Jun 25 07:45 UTC | HN request time: 0.308s | source
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andrepd ◴[25 Jun 25 10:23 UTC] No.44375613[source]▶
> Indeed, 70% of the new housing supply is acquired by foreign investors as a capital preservation strategy.

Housing being used as an investment vehicle is pretty much a global problem and one of the most pernicious consequences of modern capitalism. Be it Argentina->Paraguay or Russia->London or Germany->Spain.

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kgwgk ◴[25 Jun 25 10:52 UTC] No.44375774[source]▶
Real estate has been an investment vehicle used for capital preservation for millennia.
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1. andrepd ◴[25 Jun 25 22:36 UTC] No.44382396[source]▶
Not quite. Owning land / land rights for productive uses has been the pre-eminent form of capital ownership in history up to the modern age. But this is building or buying solely as a vehicle for speculation, i.e. with only market value in mind. That is a capitalist "innovation".