Can’t follow your logic

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Editor;

Re: The next recession (PM Mailbag Friday, 07 February 2014) – I can’t quite follow your logic here. Foreigners can buy units in Thai quota by forming a Thai company (although most choose not to). If the market value of Thai quota properties falls dramatically vs. foreign though, then more may be tempted to do so.

The system whereby only 49% of units can be sold to foreigners actually ring-fences apartments owned under foreign names as it gives, in effect, two markets with one having only a marginal effect upon the other.

Nick Pendrell