Current Events > Should Chinese citizens be allowed to buy American real estate?

(+) Yeah! (+)

My friend just sold his house, cash offer, to a Chinese national that doesn't even live in the US. Doesn't seem right.
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There are a lot of homes in city that are vacant and sitting there for profit. Now imagine them doing this on a higher scale which forces housing costs to increase. I agree, if you buy a house in america, you should actually be living in it and it'll prevent all those rich people from driving the cost of living up with lower income families.

No they should not, become a citizen of the USA, duel citizenship is a thing.
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IIRC foreign investors is a major problem in Miami. On one end it can be a boon to housing in an area with too much supply, but on the other it creates property value problems that make it impossible to buy or rent in some places without cash-in-hand and it does little for the community because good properties are being taken up by people who don't live in the area and thus don't spend on the local economy.

It's a quiet little problem that hasn't gained a lot of traction yet, but honestly I don't know what the right solution is.
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Residential Property should only be available to Adult American Citizens with a limit of 1 Residential Property per Adult Citizen.

Doesn't matter how many spouses you have or what kind of marriage/relationship you're in, the limit applies on a per person basis.

#OurCitizensFirst
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if you have the money to buy it, why not

I mean, a person's property is their right to sell to whomever they desire; the government has no say in this.
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Whatever the rule is for every other country in the world.
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KamenRiderBlade posted...

Residential Property should only be available to Adult American Citizens with a limit of 1 Residential Property per Adult Citizen.

Doesn't matter how many spouses you have or what kind of marriage/relationship you're in, the limit applies on a per person basis.

#OurCitizensFirst

Lol, good luck getting landlords to agree to 1 residential property per citizen.
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ScazarMeltex posted...

Lol, good luck getting landlords to agree to 1 residential property per citizen.

Given the angry mobs within the 99% class against the 1%, I think there is a chance.
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Nope, they aren't Americans and having non-citizens buy homes drives home prices up, unless you want your area to have unsustainably high costs of living like Vancouver, you would oppose this.
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The alt right is so bothered by brown people at the border China just buying everything up from under our noses
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It's big business. They'll find a way around it.

KamenRiderBlade posted...

Residential Property should only be available to Adult American Citizens with a limit of 1 Residential Property per Adult Citizen.

Doesn't matter how many spouses you have or what kind of marriage/relationship you're in, the limit applies on a per person basis.

#OurCitizensFirst

That would crash the market lol. That makes things tougher for people who want to rent.

KamenRiderBlade posted...

ScazarMeltex posted...

Lol, good luck getting landlords to agree to 1 residential property per citizen.

Given the angry mobs within the 99% class against the 1%, I think there is a chance.

Err you don't think it's only the 1% who have investment properties do you?
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Americans can and do buy property abroad in lots of countries, not sure what CE is crying about
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CloneTheHero posted...

i dont see a problem. sounds like blatant xenophobia.

why shouldnt you be able to buy a house in japan? or spain? shouldnt need citizenship for that. how many american yuppies do you think have houses all over the world?

I'm sure someone somewhere is against it due to xenophobia, but most people even aware of the issue IMO are more concerned about the impact in terms of the housing market and vacant-but-owned homes that can't support local businesses.

See the article below: Miami is quickly getting to a point where they have far too many luxury condos, making it hard to find an affordable apartment, because the builders are prioritizing all these cash offers from foreign investors over people who actually plan to live in the homes they buy.
https://www.miaminewtimes.com/news/miami-has-a-four-year-luxury-condo-backlog-amid-an-affordable-housing-crisis-10218908
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China researched Colonialism.
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The free market is perfect.
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people sure take imaginary lines serious

There are ~134.7 million Housing Units in the US
https://www.statista.com/statistics/240267/number-of-housing-units-in-the-united-states/
There are ~249,979,017 Adult Citizens in the US

There are ~46,696,000 Commercial Buildings within the US
http://www.allcountries.org/uscensus/1227_commercial_buildings_number_and_size_by.html

If we limit the ownership of lands via 1x Residential, 1x Commercial, 1x Industrial, etc

It promotes fair competition and prevents over powering / Snow Ball effects for Real Estate Tycoons.

You know people like Donald Trump & other Real Estate Barrons who made their fortunes off of owning property.

And of course anything that can promote a fair economy / hurt Donald Trump and other 1% should be pushed on a Global level.

Balance out who owns what and for how much.
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Ivynn posted...

China researched Colonialism.

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KamenRiderBlade posted...

There are ~134.7 million Housing Units in the US
https://www.statista.com/statistics/240267/number-of-housing-units-in-the-united-states/
There are ~249,979,017 Adult Citizens in the US

There are ~46,696,000 Commercial Buildings within the US
http://www.allcountries.org/uscensus/1227_commercial_buildings_number_and_size_by.html

If we limit the ownership of lands via 1x Residential, 1x Commercial, 1x Industrial, etc

It promotes fair competition and prevents over powering / Snow Ball effects for Real Estate Tycoons.

You know people like Donald Trump & other Real Estate Barrons who made their fortunes off of owning property.

And of course anything that can promote a fair economy / hurt Donald Trump and other 1% should be pushed on a Global level.

Balance out who owns what and for how much.

What about businesses who rely on flip houses? How are people supposed to live off only having one house to sell at one time?
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Darmik posted...

That would crash the market lol. That makes things tougher for people who want to rent.

You can still rent, a married couple can have 1 house to live in while all their other properties including properties owned by their adult children can be rented out.

Darmik posted...

Err you don't think it's only the 1% who have investment properties do you?
Kind Regards,

No, but the 1% own a absurd portion of the Real Estate pie relative to the number of people within their Financial Status.

This is to level the playing field and help even out who owns what.
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Darmik posted...

What about businesses who rely on flip houses? How are people supposed to live off only having one house to sell at one time?

Get married, have adult children or family members help out.

Use their names to buy / sell property.
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ASithLord7 posted...

Americans can and do buy property abroad in lots of countries, not sure what CE is crying about

Every country should limit who can buy property within their country.

#OurCitizensFirst
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KamenRiderBlade posted...

You can still rent, a married couple can have 1 house to live in while all their other properties including properties owned by their adult children can be rented out.

I'm talking about people to rent from. You've limited that pool.

KamenRiderBlade posted...

No, but the 1% own a absurd portion of the Real Estate pie relative to the number of people within their Financial Status.

This is to level the playing field and help even out who owns what.

Unless you are somehow stripping away properties and creating a financial crises all you're doing is limiting investment options for everyone.

KamenRiderBlade posted...

Darmik posted...

What about businesses who rely on flip houses? How are people supposed to live off only having one house to sell at one time?

Get married, have adult children or family members help out.

Use their names to buy / sell property.

That's a ridiculous concept. If you can't sell a property they're stuck with it forever. You're limiting people's freedoms.

What about buying land and subdividing it? How would that work?

You're going by kid logic here. Printing out more money so no one is poor makes the same amount of sense.
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Darmik posted...

I'm talking about people to rent from. You've limited that pool.

How so? Rental Properties will still function as such.
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Darmik posted...

Unless you are somehow stripping away properties and creating a financial crises all you're doing is limiting investment options for everyone.

It also royally hurts those like Donald Trump and other Real Estate Tycoon from snow balling their finances via Real Estate.

And any form of power accumulation via snow balling like that should be prevented in a regulated economy.
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my parents sold a house to some chinese guy who only visits it like once a year

Darmik posted...

That's a ridiculous concept. If you can't sell a property they're stuck with it forever. You're limiting people's freedoms.

What about buying land and subdividing it? How would that work?

You're going by kid logic here. Printing out more money so no one is poor makes the same amount of sense.

Who says you can't sell property? Other than limiting 1 property title per person.

When you sub-divide a land, you sell off the remaining property titles or transfer it to family who have open slots.

This is far from kid logic, it's regulation to prevent over accumulation of wealth via Monopolistic / Snow Ball Effects due to Real Estate acquisition & sales.
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KamenRiderBlade posted...

Darmik posted...

I'm talking about people to rent from. You've limited that pool.

How so? Rental Properties will still function as such.

Your goal is to limit investment properties. Less investment properties means there's less people to rent properties from.

KamenRiderBlade posted...

Who says you can't sell property? Other than limiting 1 property title per person.

You can't sell if no one buys it genius.
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Darmik posted...

You can't sell if no one buys it genius.

All you have to do is look at the # of Citizens in the US vs # of Residential Properties. It out numbers it by a 249.9 million to 134.7 million. There are going to be people who want to buy property.

Your goal is to limit investment properties. Less investment properties means there's less people to rent properties from.

There will always be people who invest in properties for one reason or another. It just depends on who comes and goes to said property.
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