Why just restrict foreigners? Why not restrict rich people who are citizens? Why not restrict REITs and corporations?
What is the difference? Why not just take your taxpayer money and give it to those who have less money so that they can afford the homes? Just because you can afford a 600k home and someone else cannot does that mean you should not be able to buy it in hopes that the pricing will come down enough so someone else can?
I feel that arguments for such a society begin to place somewhat arbitrary levels of haves verses have nots and how that should benefit. Needless to say there can be a further argument that at some point making just enough effort to be a have not rather then working as hard as you can to be a have becomes a possibility.
I can understand the limitations on foreigners for holdings of US properties. I am no expert on tax law but I do believe there are tax ramifications for those who do.
Anyways more people around the world have caught up and surpassed us financially.
