Think tank sees peril in Boston luxury towers

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Is there anyone home in these new luxury condos?
Image via Commonwealth Magazine

– News from elsewhere covered by Quincy Quarry News with commentary added.

 

Think tank sees peril in Boston luxury towers,

 

The Institute for Policy Studies is raising questions about who is actually living – or not living – in all those fancy condos in Boston’s new luxury towers.

 

The institute found that roughly 35 percent of the units at the 12 buildings it reviewed are owned by shell corporations or trusts that conceal the identity of the true owner.

 

Rubles, dollars – whatever?
A file photo

It must be further noted that many of these condos and their foreign investors are tied to the federal government’s problematic EB-5 visa program, a phenomenon occurring across the country, as the NYT reported somewhat recently as well as it more recently addressed as regards possible rubles laundering involving the Trump Organization.

Source: Think tank sees peril in Boston luxury towers – CommonWealth Magazine

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