[quote=AN][quote=CA renter]I think that the rights of citizens should come before the rights of foreigners…[/quote]Like the right of citizens to sell at a higher price? Or do only citizens who are buyers have rights?
[quote=CA renter] We should not lock locals out of the housing market because foreigners want to buy vacation homes here (and I would argue that other countries have this obligation to their people as well).[/quote]
The government is not locking anyone out. Savers can compete with foreigners for the same property. They have the mean and the $ to do so, since they have been saving just like those Canadians. Why should government step in and tell who can buy luxury goods? $1M+ homes are a luxury, not necessity.[/quote]
I believe in socialism/government control/regulation for basic needs (including shelter), national/public control of finite natural resources, and believe that our government is obligated to protect our status as a sovereign nation. The most important way we can protect our own interests is to ensure that the ownership of our land (and access to our natural resources) is restricted to U.S. citizens.
IMHO, capitalism works great for “wants” — in markets that cannot be controlled by a handful of powerful interests, where purchasers have real choices between unrelated suppliers, and where consumers are **truly** able to opt-out, if they don’t like the quality or prices of particular goods or services.
No, U.S. citizens are not able to compete with foreign buyers because our government/central bank are destroying our purchasing power. If all currencies were pegged, we would be on the same footing; but U.S. workers earn their wages in USD, not these other currencies.
