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The Mystery of Anonymous Investment in US Real Estate

Author

Listed:
  • Matthew Collin

    (EU Tax - EU Tax Observatory, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Karan Mishra

    (EU Tax - EU Tax Observatory, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Andreas Økland

    (NMBU - Norwegian University of Life Sciences)

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

  • Matthew Collin & Karan Mishra & Andreas Økland, 2024. "The Mystery of Anonymous Investment in US Real Estate," Post-Print halshs-04941022, HAL.
    • Handle: RePEc:hal:journl:halshs-04941022
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-04941022v1
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    References listed on IDEAS

    as
    1. Advani, Arun & Poux, Cesar & Powell-Smith, Anna & Summers, Andy, 2023. "Catch me if you can : Gaps in the Register of Overseas Entities," The Warwick Economics Research Paper Series (TWERPS) 1480, University of Warwick, Department of Economics.
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    Full references (including those not matched with items on IDEAS)

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