The PBS investigative program FRONTLINE has an important film about the runaway prosecution of a Chinese family bank that is worth your time to watch. The reason I suggest it, is that it presages what might happen in Seattle if the obsession about foreign investor being behind rising housing prices. I’ve written about this before here and at Forbes. It is truly bizarre to see Seattle liberals who bash President Trump’s immigration policies indulging in paranoid speculation about Chinese money being “parked” in Seattle. The notion that foreign investors are buying up housing, taking it off the market, then leaving it empty is absurd; in order for it to account for a small up tick in price would require thousands of units being bought this way. If we’re not careful, we could end up seeing immigrant communities targeted unfairly. It’s yet another example of the lengths some people will go deny the basic fact of supply and demand; want prices to go down, just let us build more!

The film is the featured video above the headline and you can also watch it here: