I have zero respect for Ken DeLeon. He was interviewed on local news about the insane real estate market inflation here in the Bay Area, and he was shamelessly stroking the egos of the "brilliant" tech workers who have "20 to 30 points higher IQs," contribute so much to our society, etc. while blaming the locals he's pricing out for not being "smart enough" or "deserving enough." He actually said those things. (Search Youtube for "Million Dollar Shack", start at 20:00, and again at 21:44).

What he didn't disclose, but what his CEO Mike Repka stated explicitly in a separate interview, is that actively seeking "international" investment is a critical part of their business model.

Foreign money laundering in US real estate is a big problem, which FINCEN is already aware of and trying to mitigate. If you google "FINCEN money laundering" you can see that the Bay Area is a hotspot for this activity. DeLeon real estate has been quietly profiting from this problem while blaming the victims and pretending that they're only catering to tech workers.

So Ken is profiting handsomely from this situation without disclosing that fact, while blaming the victims of the problem he's making worse.

> ...actively seeking "international" investment is a critical part of their business model.

This makes sense. After all, who else can afford to pay anywhere from $5M+ CASH for real property nowadays except for the wealthy overseas investors & future PA residents from China?

It does not take a Ph.D. in Economics to put 2 + 2 together.

Dick Tracy:
That doesn't mean we like what's happening.
And wish there was a way to stop it. Some communities have stopped it.

Studying economics is not an excuse for being obtuse or siding with predators.
Economics *explains* what is happening, it doesn't *approve* of anything.
I doubt you studied much economics.

> Economics *explains* what is happening...I doubt you studied much economics.

Economics can best be described as 'the science of the obvious' but with charts and graphs.