Canada now bans foreigners from buying houses- should we do the same?

[Anonymous]

Anonymous wrote:I think it’s very reasonable that any property owned by either a company or a non-greencard-foreigner (i.e. not a US citizen or permanent resident) should pay much higher property taxes (like double or even triple) and also not benefit from things like the props in California that freeze property taxes over time instead of relating them to the market value.

That increased tax revenue can pay to improve our schools, local infrastructure, etc.

I would also super an outright ban on foreign ownership of property although it would need to be done carefully to not track the market.

Ugh phone typing, better version below.

[Anonymous]

I think it’s very reasonable that any property owned by either a company or a non-greencard-foreigner (i.e. not a US citizen or permanent resident) should pay much higher property taxes (like double or even triple) and also not benefit from things like the props in California that freeze property taxes over time instead of relating them to the market value.

That increased tax revenue can pay to improve our schools, local infrastructure, etc.

I would also support an outright ban on foreign ownership of property although it would need to be done carefully to not tank the market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

There has been a lot of reporting about this in the media. Chinese nationals buying up property in places like San Francisco Bay Area. They don’t even rent the properties out much of the time, just park their money there. Maybe to keep it out of the hands of their socialist government? Not sure why but you can read for yourself that it happens. (I’m not the PP btw and this is based on data and statistics, not someone having an accent which is quite a ridiculous statement actually.)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

There has been a lot of reporting about this in the media. Chinese nationals buying up property in places like San Francisco Bay Area. They don’t even rent the properties out much of the time, just park their money there. Maybe to keep it out of the hands of their socialist government? Not sure why but you can read for yourself that it happens. (I’m not the PP btw and this is based on data and statistics, not someone having an accent which is quite a ridiculous statement actually.)

Repeat:

I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.


There are thousands of expat Americans living abroad. Some probably own property in the US and rent them out. Some of them are probably not white. So, in a particular neighborhood, if you see a non white person with a funny accent who rents out the property, don't assume that they are those foreigners. They may or may not be foreigners, but if you stereotype "those" people, it's no different than stereotyping a Hispanic person you see on the street as "oh, he must be illegal", or a black person in a store: "oh, he's going to steal something".

That is the point. Yes, corporations, foreign nationals buy up US property, but if you see a non white person with a funny accent renting out a property in your neighborhood, try not to jump to your stereotype: "they must be Chinese foreigners".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

There has been a lot of reporting about this in the media. Chinese nationals buying up property in places like San Francisco Bay Area. They don’t even rent the properties out much of the time, just park their money there. Maybe to keep it out of the hands of their socialist government? Not sure why but you can read for yourself that it happens. (I’m not the PP btw and this is based on data and statistics, not someone having an accent which is quite a ridiculous statement actually.)

Repeat:

I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.


There are thousands of expat Americans living abroad. Some probably own property in the US and rent them out. Some of them are probably not white. So, in a particular neighborhood, if you see a non white person with a funny accent who rents out the property, don't assume that they are those foreigners. They may or may not be foreigners, but if you stereotype "those" people, it's no different than stereotyping a Hispanic person you see on the street as "oh, he must be illegal", or a black person in a store: "oh, he's going to steal something".

That is the point. Yes, corporations, foreign nationals buy up US property, but if you see a non white person with a funny accent renting out a property in your neighborhood, try not to jump to your stereotype: "they must be Chinese foreigners".

I dont think anyone is doing that. They are saying to limit foreigners from buying properties. If you are not a citizen AND NOT LIVING IN THE US FOR A MAJORITY (9 MONTHS
) OF THE YEAR then you should not be able to purchase. And the purchaser must live here not a cousin or child. And expats or those living abroad should be limited to one domicile domestically.

Most of the people discussing this are talking about investment properties where no one is living or where people are having to rent- inflated rent mind you because the investor has bought all of the neighboring properties, thereby, controlling the rent prices. Are you the same poster who was shouting XENOPHOBIA and then went quiet when I brought up reciprocal purchase limitations in those countries?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

There has been a lot of reporting about this in the media. Chinese nationals buying up property in places like San Francisco Bay Area. They don’t even rent the properties out much of the time, just park their money there. Maybe to keep it out of the hands of their socialist government? Not sure why but you can read for yourself that it happens. (I’m not the PP btw and this is based on data and statistics, not someone having an accent which is quite a ridiculous statement actually.)

Repeat:

I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.


There are thousands of expat Americans living abroad. Some probably own property in the US and rent them out. Some of them are probably not white. So, in a particular neighborhood, if you see a non white person with a funny accent who rents out the property, don't assume that they are those foreigners. They may or may not be foreigners, but if you stereotype "those" people, it's no different than stereotyping a Hispanic person you see on the street as "oh, he must be illegal", or a black person in a store: "oh, he's going to steal something".

That is the point. Yes, corporations, foreign nationals buy up US property, but if you see a non white person with a funny accent renting out a property in your neighborhood, try not to jump to your stereotype: "they must be Chinese foreigners".

Stop assuming that everyone is too clueless to do their homework or know what is happening.

If we live in the area and know which foreign corporation or family LLC is contracting with the property management (oftentimes with ties to the foreign country themselves), rest assured we know what's going on.

Bonus points for those of us whose day jobs focus on US housing issues.

Bottom line: far too many people and corporations are skewing the housing market (including the rental market), and that's not cool.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What we need to ban are Air BnBs, short term rentals, home flipping, and corporations from owning homes.

Yes. And in addition, ban foreigners from buying homes. Green card holders should be allowed. There should also be a provision in low down payment FHA loans that when sold, the sellers must accept FHA financing. Something like 83% of homeowners got their first mortgage through FHA. We need a new emphasis on home ownership. It provides stability and helps Americans build wealth. By the time I bought my second home I had enough equity to go conventional with 20% down. I hope it works that way for most. I keep an eye out for starter homes in my area since I have three young adult children. There are definitely investment corporations that snap up the good deals and pay cash. The homes disappear from the MLS within a week.

There are Conventional 97% loan products via Fannie and Freddie. There is a lot between 20% down and FHA. You cannot tell a seller they have to accept FHA financing when FHA may have more strict appraisal/property conditions than a Conventional appraiser. I have no problem accepting a Fannie 97% loan over an FHA 96.5%. There are also many bank portfolio 100% loans out there that I’d have no problem accepting. FHA loans take a longer time to underwire and process in general as well.

-mortgage policy expert

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

There has been a lot of reporting about this in the media. Chinese nationals buying up property in places like San Francisco Bay Area. They don’t even rent the properties out much of the time, just park their money there. Maybe to keep it out of the hands of their socialist government? Not sure why but you can read for yourself that it happens. (I’m not the PP btw and this is based on data and statistics, not someone having an accent which is quite a ridiculous statement actually.)

Repeat:

I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.


There are thousands of expat Americans living abroad. Some probably own property in the US and rent them out. Some of them are probably not white. So, in a particular neighborhood, if you see a non white person with a funny accent who rents out the property, don't assume that they are those foreigners. They may or may not be foreigners, but if you stereotype "those" people, it's no different than stereotyping a Hispanic person you see on the street as "oh, he must be illegal", or a black person in a store: "oh, he's going to steal something".

That is the point. Yes, corporations, foreign nationals buy up US property, but if you see a non white person with a funny accent renting out a property in your neighborhood, try not to jump to your stereotype: "they must be Chinese foreigners".

Stop assuming that everyone is too clueless to do their homework or know what is happening.

If we live in the area and know which foreign corporation or family LLC is contracting with the property management (oftentimes with ties to the foreign country themselves), rest assured we know what's going on.

Bonus points for those of us whose day jobs focus on US housing issues.

Bottom line: far too many people and corporations are skewing the housing market (including the rental market), and that's not cool.

so these must be public records. Can you provide examples of entire blocks being owned by foreign corporations?

Are there foreign corporations that own apartment blocks? Yes. That happens. But, like I said, people should not assume anything just because they see a "foreign" looking person owning property and renting it out.

But nothing will change because Rs won't let it. Which R do you honestly think would prevent rich foreigners/corporations from buying up US property?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

There has been a lot of reporting about this in the media. Chinese nationals buying up property in places like San Francisco Bay Area. They don’t even rent the properties out much of the time, just park their money there. Maybe to keep it out of the hands of their socialist government? Not sure why but you can read for yourself that it happens. (I’m not the PP btw and this is based on data and statistics, not someone having an accent which is quite a ridiculous statement actually.)

Repeat:

I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.


There are thousands of expat Americans living abroad. Some probably own property in the US and rent them out. Some of them are probably not white. So, in a particular neighborhood, if you see a non white person with a funny accent who rents out the property, don't assume that they are those foreigners. They may or may not be foreigners, but if you stereotype "those" people, it's no different than stereotyping a Hispanic person you see on the street as "oh, he must be illegal", or a black person in a store: "oh, he's going to steal something".

That is the point. Yes, corporations, foreign nationals buy up US property, but if you see a non white person with a funny accent renting out a property in your neighborhood, try not to jump to your stereotype: "they must be Chinese foreigners".

Stop assuming that everyone is too clueless to do their homework or know what is happening.

If we live in the area and know which foreign corporation or family LLC is contracting with the property management (oftentimes with ties to the foreign country themselves), rest assured we know what's going on.

Bonus points for those of us whose day jobs focus on US housing issues.

Bottom line: far too many people and corporations are skewing the housing market (including the rental market), and that's not cool.

so these must be public records. Can you provide examples of entire blocks being owned by foreign corporations?

Are there foreign corporations that own apartment blocks? Yes. That happens. But, like I said, people should not assume anything just because they see a "foreign" looking person owning property and renting it out.

But nothing will change because Rs won't let it. Which R do you honestly think would prevent rich foreigners/corporations from buying up US property?

Here is a sample from 2014. In my childhood neighborhood where my family lives the homes are seriously worth about $10k. My uncle's place sold for $6k.

https://www.nbcnews.com/news/china/chinese-investors-snap-property-bankrupt-detroit-n253186

[Anonymous]

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Anonymous wrote:I met a guy (covered in tats and didn’t look like he had any money) on a flight from DC to Dallas. He was flying to Dallas to check on his rental properties. He owns 40+ properties, essentially controlling the FMR in one neighborhood.

I was staying in a nice suburb in Dallas and my friend who was hosting me told me the bulk of the SFH neighborhood was owned by a few Asian families who rent out the properties. Rents have jumped dramatically and they quickly purchase any homes that go on the market.

This is a problem.

capitalism at its finest. Also, how do you know if the "Asian" families aren't Asian Americans? Because they have accents?

Asian here (as in, born in Asia, grew up here, have US citizenship). Whether 'Asian' or 'Asian Americans', real estate is a time honored investment vehicle for Chinese and Koreans. I think the Chinese Communists had a deep complex with the 'landlord' class. (Not the clergy, the nobility, the aristocracy - the classic villians for Marx). In feudal Asian society, there were only two classes - the peasants and the landlords. Can't be a landlord in China so do it here in North America.

PP here.. I'm Korean American.

My parents don't speak much English. They are looking at moving back to Korea for retirement and renting their place out here.

If someone like the "those foreigners are purchasing homes in our country" poster didn't know my parents, they would assume, just like the ^^PP assumed that they were Chinese who are buying up property in the US.

My spouse and I are thinking of doing something similar when we retire. We are also both immigrants, and American citizens. I'm sure people like the ^^PP would assume we are also "Chinese foreigners buying up property".

Once again, you have no idea if those people are foreigners or American citizens who live abroad.

We’re talking about the government in particular. The actual governments of China and Saudi Arabia are buying property. It’s a documented problem. Along with AirBnBs and corporations buying up homes.

Some of us have nowhere else to flee to when America goes full on Lorax and we’re all paying rent to foreign countries. We’d like it to be addressed.

This!

But it’s not just the Chinese government. Chinese foreign nationals are buying significant amounts of US real estate. This isn’t an opinion; google it. The data indicates that Chinese citizens are purchasing real estate—not Chinese Americans.

The pp who keeps calling out racism or misinformation should google and educate herself.

Again, I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.

Reading comprehension is very important.

There has been a lot of reporting about this in the media. Chinese nationals buying up property in places like San Francisco Bay Area. They don’t even rent the properties out much of the time, just park their money there. Maybe to keep it out of the hands of their socialist government? Not sure why but you can read for yourself that it happens. (I’m not the PP btw and this is based on data and statistics, not someone having an accent which is quite a ridiculous statement actually.)

Repeat:

I never said it doesn't happen. What I replied to was people who kept saying, "Oh, there are Asian people in that neighborhood who own the properties and rent them out.." My response was, "How do you know if those Asian people aren't legal residents/US citizens". People seem to be assuming that just because those people are Asian and may have an accent, that they are "foreigners". So yes, that is indeed racist.


There are thousands of expat Americans living abroad. Some probably own property in the US and rent them out. Some of them are probably not white. So, in a particular neighborhood, if you see a non white person with a funny accent who rents out the property, don't assume that they are those foreigners. They may or may not be foreigners, but if you stereotype "those" people, it's no different than stereotyping a Hispanic person you see on the street as "oh, he must be illegal", or a black person in a store: "oh, he's going to steal something".

That is the point. Yes, corporations, foreign nationals buy up US property, but if you see a non white person with a funny accent renting out a property in your neighborhood, try not to jump to your stereotype: "they must be Chinese foreigners".

Stop assuming that everyone is too clueless to do their homework or know what is happening.

If we live in the area and know which foreign corporation or family LLC is contracting with the property management (oftentimes with ties to the foreign country themselves), rest assured we know what's going on.

Bonus points for those of us whose day jobs focus on US housing issues.

Bottom line: far too many people and corporations are skewing the housing market (including the rental market), and that's not cool.

so these must be public records. Can you provide examples of entire blocks being owned by foreign corporations?

Are there foreign corporations that own apartment blocks? Yes. That happens. But, like I said, people should not assume anything just because they see a "foreign" looking person owning property and renting it out.

But nothing will change because Rs won't let it. Which R do you honestly think would prevent rich foreigners/corporations from buying up US property?

Here is a sample from 2014. In my childhood neighborhood where my family lives the homes are seriously worth about $10k. My uncle's place sold for $6k.

https://www.nbcnews.com/news/china/chinese-investors-snap-property-bankrupt-detroit-n253186

Here is another story: https://www.forbes.com/sites/gordonchang/2013/12/08/chinas-newest-city-we-call-it-detroit/?sh=7a787b17246f

[Anonymous]

Anonymous wrote:Canada just passed a law barring foreigners from owning houses.
https://www.nytimes.com/2022/12/29/realestate/canada-bans-foreign-buyers.html

Housing prices are so expensive which makes it difficult to enter the housing market. A substantial number of houses are bought with cash only. Many of those sales are from foreign buyers. Would housing be slightly more affordable if foreign buyers are barred from buying houses?

Yes, along with stopping birth citizenships .

Really it is common sense and good for our culture.

But liberals and urban elites will yell RACIST!!!!!!!

[Anonymous]

Anonymous wrote:Canada just passed a law barring foreigners from owning houses.
https://www.nytimes.com/2022/12/29/realestate/canada-bans-foreign-buyers.html

Housing prices are so expensive which makes it difficult to enter the housing market. A substantial number of houses are bought with cash only. Many of those sales are from foreign buyers. Would housing be slightly more affordable if foreign buyers are barred from buying houses?

along with eliminating mortgage interest deduction.

one of the most progressive moves Democrats could do.

but they are bought and paid by California and New York elites.

[Anonymous]

Canada did this to themselves

1. Little industry outside of housing

2. Low rates for decades

3. Limiting building construction

4. High taxes and an economy where the primary way to earn money is through housing appreciation

[Anonymous]

DeSantis is picking up the issue. He said he doesn’t want the Chinese to own entire housing developments in the US.

He’s not wrong.

As a Dem, I’m curious if any Dems will touch the issue.