Should foreigners be allowed to buy up residential real estate in the US? (legal, economic)

[lilyflower3191981]

I think the cons are:

1. Obviously more money flowing in means that locals who aren't wealthy will be squeezed out.
2. Gives foreigners a lot of influence and control over local policies.
3. Reduces supply of available

So some restriction would be good.

[phantompilot]

There is just no good reason to allow it. No benefit to the American people as a whole - only detriments.

[Threerun]

Sure, with restrictions. I can buy property in many countries. My friend owns a home in Costa Rica and Italy.

What's the big deal?

[It'sAutomatic]

Trump would literally be out of business.

[It'sAutomatic]

Originally Posted by phantompilot

There is just no good reason to allow it. No benefit to the American people as a whole - only detriments.

There are benefits. It's good for homeowners, it brings money into the country and helps prop up the dollar.

[Magritte25]

Originally Posted by Threerun

Sure, with restrictions. I can buy property in many countries. My friend owns a home in Costa Rica and Italy.

What's the big deal?

That's a good example.

A friend of mine owns a home in Greece. So viewing it through that lens...I agree. What's the big deal?

[Catgirl64]

I think this is a difficult question. Buy a vacation home? Sure.

Hoard property and drive up costs, particularly rents? Hell no.

[Mattks]

It’s scary how many people have voted no. Of course foreigners should be able to own property. I am okay with taxing them differently. I am also okay with restricting some state owned corporations from owning property in the US. We wouldn’t want China Telecom to own property adjacent to a military base for example. But a blanket no is a terrible idea. No foreign company would ever manufacture here, say goodbye to almost all foreign auto manufacturers or companies like Siemens.

[le roi]

Originally Posted by ohhwanderlust

Poll coming.

I would say yes, without restriction.

I would also say that measures need to be taken against people (foreign and domestic) who buy up lots of residential property that they don't live in (they rent out or have sit empty). It's not good for the economy and should not be encouraged via the tax code.

[le roi]

Originally Posted by Mattks

It’s scary how many people have voted no. Of course foreigners should be able to own property.

Any time you ask common ppl a question that involves "foreigners", you get irrationally hostile responses.

It's issues like this that make me glad we don't have a more-direct democracy.