Impressive.
Racism is rife in Lebanon. It’s a fact of life. That it occurs in the security forces is hardly surprising. Amid all the sanctimonious waffle, at least that’s become blatantly obvious.
But … they can’t all be bad… they’re considering giving Palestinians a few more rights… yeah, right.
Time for this honky to sign off.
Sounds like the Justice and Administration Parliamentary committee are a little confused about the laws of supply and demand - I love this line from your 'more rights' link: "The Justice and Administration parliamentary committee also discussed the property ownership law for foreigners and stressed the need to preserve both the interests of Lebanese by preventing a rise in real estate prices while at the same time encouraging foreign investment in Lebanon.
ReplyDeleteMy brain is hurting thinking about this rationale. Without a rise in property prices, where is the incentive to invest in property as a foreigner? Presumably, it is the power brokers who own a good portion of property so would it not also be in their interests if land pries increased? Help me understand honky.
You're thinking like a foreigner. And that's wrong.
ReplyDeleteLebanon is a weird little property bubble. As far as I am aware, prices haven't dropped at any time, since the last 6, possibly 10 years. They continue to go up. So, there IS reason to invest as a foreigner.
But that's a rational view if you're interested in making money.
The view of the Lebanese, and the Gulf Arabs who come here on holiday (i.e. the main buyers), is that you buy a house for "life". These "tourists" are in fact buying a property in which they will spend months of the year in, every year.
It's not so much an investment as a place in the Sun, as it were.
Lebanese will be buying a house for two reasons: 1. To live in, 2. To give to their son when he marries.
They don't sell property. Hence the demand. Hence the prices.
If the Committee thinks that they can prevent a rise in prices, they are very much deluded.