A million-dollar brownstone that no one owned
I live in a town that's a haven for hiding illicit funds in luxury homes (cryptocurrency fraud). There is a vacancy rate of about 5% - housing costs are up greater than 5% as the vacant homes' impact has a compounding effect.I bring this up because it highlights an underlying trend shared between the article and my anecdote: fraud conducted in supply/demand markets hurts buyers and generally legal participants.Even if your deal is 100% legal and proper, the supply/demand dynamics have been altered by those committing the fraud and you're getting screwed.