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I'm an American citizen, born and raised, my family has been here since just before the Civil War in this country. My family fought for the Union and many subsequent wars after that. I shouldn't have to be a doctor to be able to afford a flipping house in the area that I work. That's not what this country is about. I'm not asking for a mansion but I am asking for a safe place to live near the place I work.
But you apparently think rich foreigners are more entitled to own land than an actual American citizen. Are you one of these rich foreigners is that why you are so upset?
Your treatment of rich over everyone else is why this country is going to sh*t with the middle class losing more and more of their spending power while the 1% is hogging it all.
Not everyone can make rich wages, that's not how the economy works. Not all of us physically can afford 1 million+ homes, some of us will be able to afford up to a million, up to 500k, up to 250k, this is what creates the economic stratification we need for this country to work. This "rich vs. poor" mantra you are supporting by not giving "lesser off" Americans a chance to a good life is again, why this country is beginning to go to sh*t. I bet you support the TPP too.
The problem comes when they buy huge tracts of housing, don't live in them, don't rent them .......they sit empty! That forces rents higher, forces housing costs higher, removes housing from the available pool causes no end of problems for patterning those things you need to have in place to service a community that is not providing cheaper transit.
Companies trying to operate in that climate generally throw up their hands and surrender to whomever suggest moving off shore to an available labour pool that can at least get to the office every morning.
Having buildings full of condos sitting sold but empty does nothing for your local economies so eventually all those things you take for granted cease being available because in spite of all the listed properties being sold their are no occupants using your facilities and services, working and paying income taxes, buying the stuff they're providing the walmarts, they're not using the doctor's offices, not using the subways or buses, not using the sports venues or buying season's tickets to the theater.
All those things dry up and blow away because all the citizens who WERE using them have been forced to look elsewhere for an affordable place to live.
The problem comes when they buy huge tracts of housing, don't live in them, don't rent them .......they sit empty! That forces rents higher, forces housing costs higher, removes housing from the available pool causes no end of problems for patterning those things you need to have in place to service a community that is not providing cheaper transit.
Companies trying to operate in that climate generally throw up their hands and surrender to whomever suggest moving off shore to an available labour pool that can at least get to the office every morning.
Having buildings full of condos sitting sold but empty does nothing for your local economies so eventually all those things you take for granted cease being available because in spite of all the listed properties being sold their are no occupants using your facilities and services, working and paying income taxes, buying the stuff they're providing the walmarts, they're not using the doctor's offices, not using the subways or buses, not using the sports venues or buying season's tickets to the theater.
All those things dry up and blow away because all the citizens who WERE using them have been forced to look elsewhere for an affordable place to live.
More investment always drives more employment. If real estate prices drop, who would have incentive to build more? If nobody build, where's employment?
Foreign investors have helped keep me and many of my colleagues employed in construction.
Of course foreign investment in real estate has its share of problems, but overall, I think it is positive for American economy. Just like tourists, they benefit economy. Plus, tourists leave, they just spend money here, make your cities dirty, but overall, it is positive.
I don't mind foreign investment. I have several rental properties and I wouldn't mind selling them to Chinese or any foreigners. No problem with me. If tax rate is higher for foreign buyers, the tax still goes to the government, it is not like the $$$$ goes to any of us, so I am meh about it. Just being honest.
Last edited by lilyflower3191981; 10-10-2016 at 10:46 AM..
Tax them. Tax them high. 15% isn't enough. Make it painful for them to buy here. I have a life-long friend in Vancouver who I visit regularly (I am there a couple times a month for work), and it is sad what has happened up there over the years. The Chinese nationals have mangled the cost of housing for locals. Much of all those pretty residences are sitting empty, while the locals are struggling to find an affordable place to live thanks to them.
You may be an American citizen but you are NOT American! Americans fought, bled and died to fend off the "ideals" you are supporting - communism. Our country was built upon the ideal that we protect individual liberty, that is your person, properties and your paper. Are people within the borders of America not entitled to the same constitutional protection? The court, our laws and I disagree with you!
As for free trade, America was built upon free trade.
Tax them. Tax them high. 15% isn't enough. Make it painful for them to buy here. I have a life-long friend in Vancouver who I visit regularly (I am there a couple times a month for work), and it is sad what has happened up there over the years. The Chinese nationals have mangled the cost of housing for locals. Much of all those pretty residences are sitting empty, while the locals are struggling to find an affordable place to live thanks to them.
No, tax is not enough. The only ones who should be entitled to buy a house in USA are citizens or lawful residents.
And empty houses should be taxed heavily.
No, tax is not enough. The only ones who should be entitled to buy a house in USA are citizens or lawful residents.
And empty houses should be taxed heavily.
I agree on the empty houses, we should be encouraging the homeless to be able to afford homes by getting rid of empty houses and taxing foreigners so that COL matches reality. Dirt poor homes will get even more dirt poor, which should be able to take up some of the homeless population.
No, tax is not enough. The only ones who should be entitled to buy a house in USA are citizens or lawful residents.
And empty houses should be taxed heavily.
LOL! You are entitled to live in this country and that is all! You are NOT entitled to your country. You are entitled to what you earn and what your parents leave you!
This is beyond the pale! At first I thought you were debating on principle but you admitted you have vested interest in the selling of your property.
Overall I can see what is happening is the split of the conservative movement into two camps; the nation state conservatives vs the more libertarian conservatives. Guys like lifeexplorer get off on telling blue collar workers that their jobs are never coming back and that they better get used to the changing world because if they're not qualified they deserve to be out in the street. Apparently people such as Prickly Pear aren't entitled to even live in the country. He has no rights except for what we can earn for himself in the marketplace. This is just too rich.
They'll tell white collar workers to quit whining because their job went to some H1B visa holder. On top of that he'll call ya racist for even bringing up the issue! It's too much.
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