Canadians play big role in real estate rush

[CA renter]

[quote=outtamojo][quote=CA renter][quote=SD Realtor]Oh those evil foreigners. How dare they take advantage of our depleted currency. What should we do, bar foreigners from purchasing real estate? Should we blame them because our govt, fed and treasury have are inept?

Really?[/quote]

Though it’s controversial, I think that the rights of citizens should come before the rights of foreigners. 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]

Did I read right, homeownership is a right?[/quote]

I think we need to determine what our priorities are. Though I’ve never liked the “Ownership Society” that was built on loose credit, I DO agree that most people are better off owning their own homes (affordably-priced homes, not “affordable” credit), largely because they can control their own housing costs, and because they can have a paid-off house when they need it most — in retirement.

I want to avoid a return to the days when a privileged few owned all the assets and had all the power, while the lowly plebeians labored to give all their money to the wealthiest people in the world. We are already headed quickly in that direction, unfortunately, but I think we can reverse this trend.

Yes, I believe society is better served if we eliminate any perks for owning income, second, or vacation homes. No mortgage interest deductions, no government-backed loans of any sort, no Prop 13 protection, etc. for second/investment homes. The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.

[outtamojo]

“The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?

[outtamojo]

“The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?

[outtamojo]

“The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?

[outtamojo]

“The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?

[outtamojo]

“The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?

[CA renter]

[quote=outtamojo][quote=CA renter]”The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?[/quote]

Are you talking about the mortgage investors? No, they would have the right to foreclose (in my world), but would have to bring it to market within a specified period of time…maybe 12 months, max.

[CA renter]

[quote=outtamojo][quote=CA renter]”The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?[/quote]

Are you talking about the mortgage investors? No, they would have the right to foreclose (in my world), but would have to bring it to market within a specified period of time…maybe 12 months, max.

[CA renter]

[quote=outtamojo][quote=CA renter]”The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?[/quote]

Are you talking about the mortgage investors? No, they would have the right to foreclose (in my world), but would have to bring it to market within a specified period of time…maybe 12 months, max.

[CA renter]

[quote=outtamojo][quote=CA renter]”The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?[/quote]

Are you talking about the mortgage investors? No, they would have the right to foreclose (in my world), but would have to bring it to market within a specified period of time…maybe 12 months, max.

[CA renter]

[quote=outtamojo][quote=CA renter]”The rights of U.S. workers to own their own home trumps the rights of speculators/investors to make money from housing, which I consider to be a basic need.[/quote]

So if I stopped paying my mortgage, you would favor my continued ownership of “my” home over the rights of investors to get their money back?[/quote]

Are you talking about the mortgage investors? No, they would have the right to foreclose (in my world), but would have to bring it to market within a specified period of time…maybe 12 months, max.

[CA renter]

[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.

[CA renter]

[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.

[CA renter]

[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.

[CA renter]

[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.

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