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Reply to "Canada now bans foreigners from buying houses- should we do the same?"
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[quote=Anonymous][quote=Anonymous]What we need to ban are Air BnBs, short term rentals, home flipping, and corporations from owning homes.[/quote] 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. [/quote]
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