By Stephen Gowans
New York Times reporter Damien Cave has written an article about changes that will allow Cubans to buy and sell their homes.
Cave seems to criticize the plans because they’ll likely outlaw real-estate-related social parasitism, limit “opportunities for profits and loans,” and prohibit foreign ownership.
“The plan outlined by the state media,” he writes, “would suppress the market by limiting Cubans to one home or apartment and requiring full-time residency.”
Cave seems ruefully pessimistic that budding entrepreneurs—both Cuban and foreign—will have much chance to get rich flipping Cuban properties. “Some Cubans expect rules forcing buyers to hold properties for five or 10 years,” he writes.
“Others say the government will make it hard to take profits off the island, through exorbitant taxes or limits on currency exchange.”
And Cave points to one Cuban who “cannot imagine a real open market,” anticipating, instead, that the government will set a per square foot price.
Finally, there’s a “thorny” issue that threatens to dampen the zeal of even the most ambitious social parasite: Evictions are outlawed.
How’s anyone to get rich on the backs of others under this plan?