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

[Anonymous]

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

BS

It’s about foreign countries inflating our housing prices and pricing out citizens.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

BS

It’s about foreign countries inflating our housing prices and pricing out citizens.

This.

The house I rent is owned by a Saudi couple who live in Switzerland. They own 24 other properties in my neighborhood and the neighboring one. They also own all of my town's Old Towne historic main street buildings except for two.

I've never met the couple. I've only met and done dealings with their son who is the US property manager.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

BS

It’s about foreign countries inflating our housing prices and pricing out citizens.

This.

The house I rent is owned by a Saudi couple who live in Switzerland. They own 24 other properties in my neighborhood and the neighboring one. They also own all of my town's Old Towne historic main street buildings except for two.

I've never met the couple. I've only met and done dealings with their son who is the US property manager.

Is he a US resident?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is not about immigration it is about foreign investment taking away wealth opportunities from citizens. And the worst part is that since the US didnt manage this prior any regulations on it will cause prices to drop with an influx of housing and properties (in theory) causing those who bought at the top of the market to possibly have a larger mortgage compared to any potential sale price.

We are so busy dealing with manufactured crises that we can't deal with real issues.

This.

But it’s bigger than foreign nationals.

The real issue is real estate has become a lucrative investment for individuals and corporations, and the end result is housing stock being controlled by people seeking to make money.

It’s a crisis. But nobody is addressing it.

Instead the policy wonks and advocates and legislators will focus on bandaid approaches like tax incentives, housing trust funds, mixed use development, etc.

because otherwise it's anti-capitalism to restrict corporations from buying properties and renting them out. The Trump family, Kushners, they all had rental properties that they rented out.

Most of these properties aren't rentals. That are purchased and left empty as a way to move capital out of China

Do you have any actual data to show what % are that sit empty?
What %

[Anonymous]

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

Yes well China is SO OPEN to US citizens buying properties there it limits foreigners to 1.

And India "If you're a US citizen and hold an OCI (Overseas Citizen of India) card, you'll be able to buy most types of property in India even if you're not living there. Key exceptions include agricultural land and properties, and plantations, which can't be bought by non-residents." To legally purchase property in India as an individual without the permission of the Reserve Bank of India (RBI), a foreigner has to qualify as a 'person resident in India' under Section 2(v) of the Foreign Exchange Management Act (FEMA).

Foreigners own a significant amount of agricultural lands in the US.


Is it xenophobic still?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is not about immigration it is about foreign investment taking away wealth opportunities from citizens. And the worst part is that since the US didnt manage this prior any regulations on it will cause prices to drop with an influx of housing and properties (in theory) causing those who bought at the top of the market to possibly have a larger mortgage compared to any potential sale price.

We are so busy dealing with manufactured crises that we can't deal with real issues.

This.

But it’s bigger than foreign nationals.

The real issue is real estate has become a lucrative investment for individuals and corporations, and the end result is housing stock being controlled by people seeking to make money.

It’s a crisis. But nobody is addressing it.

Instead the policy wonks and advocates and legislators will focus on bandaid approaches like tax incentives, housing trust funds, mixed use development, etc.

because otherwise it's anti-capitalism to restrict corporations from buying properties and renting them out. The Trump family, Kushners, they all had rental properties that they rented out.

Most of these properties aren't rentals. That are purchased and left empty as a way to move capital out of China

Do you have any actual data to show what % are that sit empty?
What %

7% in Vancouver (following a tax on empty dwelling)

[Anonymous]

Anonymous wrote:

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

Yes well China is SO OPEN to US citizens buying properties there it limits foreigners to 1.

And India "If you're a US citizen and hold an OCI (Overseas Citizen of India) card, you'll be able to buy most types of property in India even if you're not living there. Key exceptions include agricultural land and properties, and plantations, which can't be bought by non-residents." To legally purchase property in India as an individual without the permission of the Reserve Bank of India (RBI), a foreigner has to qualify as a 'person resident in India' under Section 2(v) of the Foreign Exchange Management Act (FEMA).

Foreigners own a significant amount of agricultural lands in the US.


Is it xenophobic still?

I'd love to see reciprocal policies for land and corporate ownership

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is not about immigration it is about foreign investment taking away wealth opportunities from citizens. And the worst part is that since the US didnt manage this prior any regulations on it will cause prices to drop with an influx of housing and properties (in theory) causing those who bought at the top of the market to possibly have a larger mortgage compared to any potential sale price.

We are so busy dealing with manufactured crises that we can't deal with real issues.

This.

But it’s bigger than foreign nationals.

The real issue is real estate has become a lucrative investment for individuals and corporations, and the end result is housing stock being controlled by people seeking to make money.

It’s a crisis. But nobody is addressing it.

Instead the policy wonks and advocates and legislators will focus on bandaid approaches like tax incentives, housing trust funds, mixed use development, etc.

because otherwise it's anti-capitalism to restrict corporations from buying properties and renting them out. The Trump family, Kushners, they all had rental properties that they rented out.

Most of these properties aren't rentals. That are purchased and left empty as a way to move capital out of China

Do you have any actual data to show what % are that sit empty?
What %

Isn't that helpful though? Taxes without an occupant?

[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?

Sounds like you aren't aware of how much capital Chinese are trying to take out of their country due to various issues of how the money was gained. The Chinese government has been trying to put a stop to it.

Sounds like you are still making assumptions about a nonwhite person's status in this country.

Can the ^PP be certain that the Asian families in Dallas that are buying up sfh are not Americans?

When you see a latino, do you automatically assume "illegal"?

When you see a black person, do you automatically assume "criminal"?

I'm Chinese. There's a ton of people who are doing exactly what I said or have family members providing funds that will be out of CCP reach.

And to answer your question yes.

Yes, you know definitely those families are not American citizens or permanent residents?
Yes , you assume every latino is illegal?
Yes, you assume every black person is a criminal?

yes, I know foreigners do this. My question is how do you know those particular people are "foreigners" and not residents or citizens.

My parents are Asian Americans. They don't speak much English. They own property. One day, they are thinking of going back to their home country to live and renting out their place. I suppose you'd assume my parents were "foreigners" buying up property and renting it out.

In our language, people who aren't Chinese are 外国人 which means they are foreigners.

So yes, they are foreigners. Living in America, we call you Americans 外国人 as well.
So the answer remains, yes.

None the less, you don't seem to want to acknowledge the point raised that there are a lot of Chinese who are converting cash to physical assets overseas. There is an additional issue that many of these properties are not maintained, but it is largely done to shield improperly gained funds. CCP has a habit of siezing funds as well. Look at Jack Ma of Alibaba.

I did acknowledge it. Read the bolded in my previous response.

you don't want to seem to acknowledge that you don't who is or who is not an American or legal resident here just by the way they look or their accent.

If you google, you’ll pull up plenty of recent articles pointing to data of foreign nationals buying real estate here. They specifically note Chinese purchasers—to the tune of $6B last year alone. These aren’t Chinese-Americans; these are foreigners who are parking money in American real estate as an investment.

As I stated, I acknowledge that this happens. But, the ^PP or you assumed that this was happening in that Dallas neighborhood. So, then I asked, how do you know for sure that those people are not US residents/citizens.

You then just keep posting that this happens, even though I stated repeatedly that yes, it does happen.

So, again, "how do you know that those specific people in that Dallas neighborhood are not US residents?"

Are you making an assumption based on 1. it happens 2. those people are foreign looking and speak a foreign language? Are you stereotyping?

Which is why asked if you assume that:
1. Every latino is an illegal
2. Every black person is a criminal

why do you keep shaming this person for this? Can't you see he is just a little fish? And your shaming is just to make you feel good, not to effect real change?

[Anonymous]

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

It is oligarchs in general. They want to turn us into a nation of peasant renters.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

It is oligarchs in general. They want to turn us into a nation of peasant renters.

And they’re making a lot of progress to that end.

[Anonymous]

China bans foreigners from owning land (well, even nationals are granted land in a very long term basis, not in perpetuity).

[Anonymous]

Yes. And we should have done it 30 years ago.

[Anonymous]

Anonymous wrote:
It's purely a political game in response to increasing Chinese and Indian immigration to Canada, and it's 100% xenophobic.

The reality is that because of the pandemic, foreigners have NOT been flocking to buy real estate in Canada. Canadians have! They've had the same issue we had, with Canadians wanting larger homes/condos, and real estate prices shooting up in response to delivery issues and materials/labor shortages.

Shame on Trudeau. I like him, but this time, because he had a hard time getting re-elected, he pandered to the xenophobic impulses of his constituents.

We do realize that China is an adversary that isn't above buying land next to an AFB for spying purposes, right?

https://www.cnbc.com/2022/07/01/chinese-purchase-of-north-dakota-farmland-raises-national-security-concerns-in-washington.html

[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?

Sounds like you aren't aware of how much capital Chinese are trying to take out of their country due to various issues of how the money was gained. The Chinese government has been trying to put a stop to it.

Sounds like you are still making assumptions about a nonwhite person's status in this country.

Can the ^PP be certain that the Asian families in Dallas that are buying up sfh are not Americans?

When you see a latino, do you automatically assume "illegal"?

When you see a black person, do you automatically assume "criminal"?

I'm Chinese. There's a ton of people who are doing exactly what I said or have family members providing funds that will be out of CCP reach.

And to answer your question yes.

Yes, you know definitely those families are not American citizens or permanent residents?
Yes , you assume every latino is illegal?
Yes, you assume every black person is a criminal?

yes, I know foreigners do this. My question is how do you know those particular people are "foreigners" and not residents or citizens.

My parents are Asian Americans. They don't speak much English. They own property. One day, they are thinking of going back to their home country to live and renting out their place. I suppose you'd assume my parents were "foreigners" buying up property and renting it out.

In our language, people who aren't Chinese are 外国人 which means they are foreigners.

So yes, they are foreigners. Living in America, we call you Americans 外国人 as well.
So the answer remains, yes.

None the less, you don't seem to want to acknowledge the point raised that there are a lot of Chinese who are converting cash to physical assets overseas. There is an additional issue that many of these properties are not maintained, but it is largely done to shield improperly gained funds. CCP has a habit of siezing funds as well. Look at Jack Ma of Alibaba.

I did acknowledge it. Read the bolded in my previous response.

you don't want to seem to acknowledge that you don't who is or who is not an American or legal resident here just by the way they look or their accent.

If you google, you’ll pull up plenty of recent articles pointing to data of foreign nationals buying real estate here. They specifically note Chinese purchasers—to the tune of $6B last year alone. These aren’t Chinese-Americans; these are foreigners who are parking money in American real estate as an investment.

As I stated, I acknowledge that this happens. But, the ^PP or you assumed that this was happening in that Dallas neighborhood. So, then I asked, how do you know for sure that those people are not US residents/citizens.

You then just keep posting that this happens, even though I stated repeatedly that yes, it does happen.

So, again, "how do you know that those specific people in that Dallas neighborhood are not US residents?"

Are you making an assumption based on 1. it happens 2. those people are foreign looking and speak a foreign language? Are you stereotyping?

Which is why asked if you assume that:
1. Every latino is an illegal
2. Every black person is a criminal

why do you keep shaming this person for this? Can't you see he is just a little fish? And your shaming is just to make you feel good, not to effect real change?

The PP stereotyped some people as "not Americans", yet I'm the one who is stopping from any real change? LOL

There will be no "real change" when people like DJT and ex-potus owes foreign nationals/banks a sh1t ton of money. Maybe start there.