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re: Would you support a ban on foreigners purchasing residential US real estate?
Posted on 3/6/23 at 11:56 am to LaMigra
Posted on 3/6/23 at 11:56 am to LaMigra
quote:
Foreigners…..is a wide brush! Narrow it down to not allowing certain nations and I’m with you
To be clearer, I'm more talking about foreigners buying property as investment, vs using the property to live in. IMO we should be doing what we can to keep property costs manageable. I'm not sure how much foreign buyers are driving up the market, but it can't help.
If a foreigner is legally here to work and will live in the property, then I have no issue with it.
0
Posted on 3/6/23 at 12:03 pm to cubsfan5150
Americans can't own property in China so....
Posted on 3/6/23 at 12:10 pm to cubsfan5150
Yes
Posted on 3/6/23 at 12:23 pm to cubsfan5150
Yes, especially China, also farm land, timber, natural resources, etc
Posted on 3/6/23 at 12:25 pm to cubsfan5150
Ban? No.
Restrictions? Yes.
What restrictions do you propose? you may ask.
Probably a few thousand pages worth. You have to account for proxy purchases and whatnot. You have to deal with local concerns state's rights and so forth. You have to account for what the property will be used for- is Kia building another factory in the middle of nowhwere Alabama (good) or is China buying up all the residential units in a zip code (bad)?
Restrictions? Yes.
What restrictions do you propose? you may ask.
Probably a few thousand pages worth. You have to account for proxy purchases and whatnot. You have to deal with local concerns state's rights and so forth. You have to account for what the property will be used for- is Kia building another factory in the middle of nowhwere Alabama (good) or is China buying up all the residential units in a zip code (bad)?
Posted on 3/6/23 at 12:31 pm to cubsfan5150
Rupert Murdoch only became a US citizen so he could own US media. Should have denied his application. As least he was honest when he said "I am not in the News business, I am in the Entertainment business".
Posted on 3/6/23 at 12:31 pm to cubsfan5150
Yes !!! And certainly crop land and timberland too !
Posted on 3/6/23 at 12:33 pm to cubsfan5150
Yes. Next question
This post was edited on 3/6/23 at 12:42 pm
Posted on 3/6/23 at 12:54 pm to LaMigra
quote:
Investment groups have no business owning individual residential homes, period!
Why not? That’s a bizarre assertion. I know lots of people who own homes that they rent out. These are “Investment Companies” that are sole proprietorships. Is that okay? If so, how many owners must an investment company have before you decide it’s inappropriate for them to own houses.
Posted on 3/6/23 at 12:56 pm to VADawg
quote:
Absolutely. No foreign entity should own a blade of grass on American soil.
Again, why not? We have a committee (CFIUS) that judges whether these investments are against America’s interest. As long as CFIUS approves, why wouldn’t we let Americans be enriched by selling to foreigners? Only backwards nations do this, BTW.
Posted on 3/6/23 at 1:06 pm to cubsfan5150
The best way to fix prices for big ticket items is eliminate loans for them. When people have to pay cash, they will become affordable.
Same with college tuition.
Same with college tuition.
Posted on 3/6/23 at 1:13 pm to cubsfan5150
Hell yes
Posted on 3/6/23 at 1:17 pm to cubsfan5150
absolutely yes.
Posted on 3/6/23 at 1:17 pm to cubsfan5150
quote:
Would you support a ban on foreigners purchasing residential US real estate?
absolutely yes.
Posted on 3/6/23 at 1:31 pm to Dkvet
(no message)
This post was edited on 3/20/23 at 10:09 am
Posted on 3/6/23 at 1:56 pm to cubsfan5150
quote:
nd/or investment groups like blackrock?
Do you feel like the opportunity to own a home is a fundamental American value?
What’s the best way to fix home prices? Do they need to be fixed?
We’ve seen what governmental involvement has done to healthcare and college prices, so more government involvement is not always best.
Not no but hell no. The state has no business telling citizens who they can and can't sell their property to.
Owning a home is a fundamental American value, in my opinion, but it is a really bad idea for most people today. Owning a piece of property limits opportunities and while many think it is a good investment with maintenance costs and mortgage interest it ain't that great. Owning anything is a burden...real estate is not exempt from this. Unless a person is dead set on staying in an area for more than 5 years or so renting is far more beneficial. The opportunity to advance careers is severely limited by owning a home.
Home prices are what they are. There are some ways to make housing more affordable though. Zoning and building codes are out of control. In the last 20 years changes to the national electrical code alone have increased the cost of new construction by almost 100% adjusted for inflation....just to wire a new home...and have done nothing statistically to make a home safer or more efficient...in fact some of those changes has set the clock back 50 years. The same is true of every system in a home. Zoning is an even bigger problem. Take a look at the typical tract housing complex in the US built over the the last 30 years and you will find HUGE lots that are not used for anything other than growing grass. 90% of those developments would have been as easy to sell had they been built as attached townhomes...but there ain't no money in that because no one is willing to do the infrastructure to support it. You can as easily connect 100 3/2s on small lots or even attached as you can 25 3/2s on 1/4 acre or bigger lots but the planning boards, comprised of real estate developers and builders, promote the idea of a big yard that can't be used for anything other than growing grass....and most Americans agree. Allowing property owners to do with their property what they will as long as it does not negatively impact other property owners is the way to lower housing costs but there ain't no money in that.
Posted on 3/6/23 at 2:01 pm to Fat Bastard
quote:
quote:
No
that would be stupid
CHICOMS should not be allowed to do shite here.
I know it is universally considered a basic tenet of indisputable fact that communism is inferior to capitalism YET it seems that when the state controls everything capitalists always struggle to compete LOL. SO Chinese (communist) investors are able to buy residential real estate in the US but Americans (capitalists) can't. There is a disconnect there somehow.
The actual truth is that when the state is competing against the individual the individual is ALWAYS going to come out on the short end of the stick.
Posted on 3/6/23 at 2:04 pm to LaMigra
quote:
Investment groups have no business owning individual residential homes, period!
Foreigners…..is a wide brush! Narrow it down to not allowing certain nations and I’m with you
VERY simple way to make them less attractive to investors, but that would require investors to pay taxes like working people do. That ain't going to happen because you can't tax businesses lest you dampen the mythical trickle down effect.....make real estate investment unattractive from a tax POV and all of a sudden no investors other than people actually living in a house would be interested. Of course that ain't gonna happen because it would mean some regulation of investment and you can't have that....
Posted on 3/6/23 at 2:15 pm to Rex Feral
quote:
Yes. In addition, the government needs to nationalize all property owned by foreign entities and sell it back to Americans.quote:.
Foreigners aren't covered by the Constitution and have no rights
They certainly do, with a few exceptions.
Posted on 3/6/23 at 2:23 pm to TH095526
quote:
On individuals it depends on investment groups no I do not.
I feel like you wrote that backwards. At least I hope so.
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