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The Mystery of Anonymous Investment in US Real Estate

Author

Listed:
  • Matthew Collin

    (EU Tax Observatory)

  • Karan Mishra

    (EU Tax Observatory)

  • Andreas Økland

    (NMBU)

Abstract

This note addresses the significant concerns associated with anonymous real estate ownership in the United States, highlighting how a considerable amount of property, including residential real estate, is held via corporate entities that conceal the true owners. Analyzing data from three major US cities, New York, Miami and Boston, we reveal the limitations of current methods in accurately identifying foreign ownership and propose solutions for federal and state authorities to enhance transparency and understanding of the extent of cross-border real estate ownership. Without such measures, the enigma of anonymous ownership persists, obstructing our collective grasp of its breadth and implications. The fact that the size and scope of foreign investment in US real estate remains a mystery is not a data problem, but a policy one.

Suggested Citation

Handle: RePEc:dbp:plnote:011
as

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File URL: https://www.taxobservatory.eu//www-site/uploads/2024/06/The-Mystery-of-Anonymous-Investment-in-US-Real-Estate-2024.pdf
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More about this item

Keywords

Anonymous ownership; real estate transparency; foreign investment;
All these keywords.

JEL classification:

  • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance
  • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law
  • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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