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I voted yes with some restrictions. I would want to do some type of check on the person and perhaps put a minimum limit on the houses.....say $300K minimum.
No way. Unless they have immigrated here, they should not be allowed to purchase property. There is a massive problem on the West and East coasts with Russian and Chinese billionaires buying property right and left, pricing Americans out of the market. Kick 'em to the curb.
You can't afford the property those billionaires are buying, so it really doesn't affect you.
A lot of Indians buying up foreclosures and cheap properties in the Chicagoland area! Some live in them for a few years before returning back to their countries, but a lot are renting them out for insane prices. Not even fixing them up at all first. As a homeowner I don't want more than 50% of my neighborhood being renters and that's what happened to us so we moved. I know it can happen anywhere and with any race, but my vote is to only allow it with restrictions such as a bigger property tax or only for Green card holders.
Location: Big Island of Hawaii & HOT BuOYS Sailing Vessel
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One residence only per State that must be used exclusively for personal use and not rented out. Title in their personal name so they don't establish 600 trust accounts to hide true ownership.
No. If you're not a US citizen then you can't own property. It's why Americans are being priced out of the home market and the American dream is dying.
I bought a home in Central Mexico in 2008 (reluctantly sold it in 2012, when we returned to US to care for elderly relative). Bought another one in 2017. Only need a tourist visa to do so.
In many markets in US, foreign investment is important. We also own a beach house in FL west coast...there are many Canadians who have purchased in that market.
Vets loose the sale when the cash foreign investors buy up decent priced realty -seen it - Not all countries make sales to USA investors so easy. We sell everything -One day we won’t be the USA
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by LordSquidworth
Voted yes with no restrictions.
We're capitalists, not protectionists.
You can't afford the property those billionaires are buying, so it really doesn't affect you.
Yes, but in housing markets where there is more demand than supply, there is an effect referred to as drainage. Through a domino effect, it ends up raising all prices to where eventually the ghettos are expensive. That's why in 2006, houses in South Central LA were going for $600k even though no one who could afford a $600k house (a mortgage payment of $3k/month) would be caught dead buying there
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