We're very pleased to announce that citizens of Cuba will be allowed to legally buy and sell homes by the end of the year.
While we'd certainly consider this to be a positive step in the right direction, there are others who don't feel that way and are concerned about the possibility of "higher prices, mass relocation, [and] property taxes."
There will also be some regulations, such as the requirement that Cubans maintain full-time residency at their home AND that they'll only be allowed to buy one home or apartment for themselves.
The positives will definitely outweigh the negatives though. The legalization of buying/selling houses is likely to create jobs, expand banking, and Cuban-Americans will be able to send money to relatives looking to get involved in real estate, which could help with the country's "economic success."
We'll be crossing our fingers that everything goes well with this major change.
Good luck, Cuba! We're proud of you!
Tags: cuba, cuban americans, economic success, government, homes, policy change, property, regulations, success