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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][quote=Anonymous]Yep. Ban foreign nationals as well as investors (including Americans). It’s not just airbnbs; regular joes have amassed huge portfolios of housing they rent out, driving rentals as well as purchase price up. We should have addressed this issue during the early 2000s housing bubble. It’s a little late now, but still worth a shot. People should only be allowed to own 3 homes; that gives wiggle room to own a vacation home and rental property. And no loopholes for corporations. The SF Bay Area prices were driven up by foreign investors. Ditto for countless other cities. It’s a crisis. [/quote] Exactly this. People who live and work here can’t compete with foreign money. And if nothing changes,[b] Americans will be sending rent payments to China. [/b]It’s the biggest crisis that gets ignored. [/quote] Oh, that’s happening now! Our office is in a mixed use building that is owned by China![/quote]
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