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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][quote=Anonymous]I mean this has been done in other countries too. For example if you are a foreigner Singapore will slap a hefty tax making the house even more expensive. There’s also a tax on a second home and investments. I am all for making housing affordable for younger people. [/quote] This makes more sense than banning[/quote] Lol. A hefty tax on the super wealthy foreigners buying real estate in the US won’t fix the problem. Chinese buyers alone spent $6B in housing purchases in 2022 with an average purchase price of $1M. [/quote] Well, it won't fix the housing problem, but maybe we could use that hefty tax to solve the schooling problem. Which would eventually help more Americans have more money to buy housing. So it's not a bad compromise solution.[/quote]
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