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One reason for the recent drop in foreign sales might be the lack of availability/price increases in many U.S. markets. This seems to be pricing many Americans out of the housing market.
I have 3 houses in my neighborhood that are owned by the same foreign "investor" from China and they are just sitting. Their yards are overgrown and I'm sure they'll fall into disrepair. I also don't like the fact that squatters will eventually catch on and inevitably take up residence.
This practice of allowing absent foreign ownership of homes needs to stop, but foreigners, especially from China, seem to own our politicians.
I have 3 houses in my neighborhood that are owned by the same foreign "investor" from China and they are just sitting. Their yards are overgrown and I'm sure they'll fall into disrepair. I also don't like the fact that squatters will eventually catch on and inevitably take up residence.
This practice of allowing absent foreign ownership of homes needs to stop, but foreigners, especially from China, seem to own our politicians.
How is that any different than absentee owners from the city whose properties have the same issues?
How is that any different than absentee owners from the city whose properties have the same issues?
That practice should be banned as well.
Absentee ownership should not be allowed. You don't necessarily need to live there, but at least keep your property up so you're not a burden on your neighbors.
Our city fines property owners who let their grass grow over a certain amount. It's much easier to enforce that fine on a citizen than some guy in China. Sure, they can continue to pile up the fines, but how does that help the neighbors in the short and medium term?
Absentee ownership should not be allowed. You don't necessarily need to live there, but at least keep your property up so you're not a burden on your neighbors.
Our city fines property owners who let their grass grow over a certain amount. It's much easier to enforce that fine on a citizen than some guy in China. Sure, they can continue to pile up the fines, but how does that help the neighbors in the short and medium term?
The way we handled it, and it was imposed on not just absentee landlord/owners but owner occupied, was to follow our maintenance code as far as citations and time frames and then finally contract for lawn cutting as well as imposing fines. The cost of that would be appended to the property tax bill as a Special Assessment lien on that property. Come Tax Sale time it would be paid.
We had one guy, an owner occupied, who wouldn't cut his grass. We code enforced him all one summer. He ended up with a total bill for the cutting and the fines of over $4000. Had he just paid someone to cut his damn grass he might have paid $400 for the summer if that much.
We also had to do that for building maintenance issues to a couple owners.
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