Canadians play big role in real estate rush

[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.

[scaredyclassic]

The issue of foreign re ownership is different than whether foreigners can use us banks to get mortgages backed by us taxpayers.

Not that I’m opposed. Just seems like another phase in a ponzi scheme. The next group w money

[scaredyclassic]

The issue of foreign re ownership is different than whether foreigners can use us banks to get mortgages backed by us taxpayers.

Not that I’m opposed. Just seems like another phase in a ponzi scheme. The next group w money

[scaredyclassic]

The issue of foreign re ownership is different than whether foreigners can use us banks to get mortgages backed by us taxpayers.

Not that I’m opposed. Just seems like another phase in a ponzi scheme. The next group w money

[scaredyclassic]

The issue of foreign re ownership is different than whether foreigners can use us banks to get mortgages backed by us taxpayers.

Not that I’m opposed. Just seems like another phase in a ponzi scheme. The next group w money

[scaredyclassic]

The issue of foreign re ownership is different than whether foreigners can use us banks to get mortgages backed by us taxpayers.

Not that I’m opposed. Just seems like another phase in a ponzi scheme. The next group w money

[jstoesz]

CAR, define a need.

[jstoesz]

CAR, define a need.

[jstoesz]

CAR, define a need.

[jstoesz]

CAR, define a need.

[jstoesz]

CAR, define a need.

[masayako]

Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.

At the same time, this money would go back to the foreign countries, their children and trigger down. Wealth transferred outside. Who gets negatively impactd? U.S of A folks.

Why I speak of this? Because I know it’s happening in San Diego and other parts of CA. CAR won’t complain because their goal is to sell houses. Doesn’t matter who buy it as long as someone buy it.

Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.

It’s sick.

[masayako]

Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.

At the same time, this money would go back to the foreign countries, their children and trigger down. Wealth transferred outside. Who gets negatively impactd? U.S of A folks.

Why I speak of this? Because I know it’s happening in San Diego and other parts of CA. CAR won’t complain because their goal is to sell houses. Doesn’t matter who buy it as long as someone buy it.

Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.

It’s sick.

[masayako]

Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.

At the same time, this money would go back to the foreign countries, their children and trigger down. Wealth transferred outside. Who gets negatively impactd? U.S of A folks.

Why I speak of this? Because I know it’s happening in San Diego and other parts of CA. CAR won’t complain because their goal is to sell houses. Doesn’t matter who buy it as long as someone buy it.

Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.

It’s sick.

[masayako]

Imagine an extreme scenario, let’s say a foreign RE investment group buy all the rental apartment complex near SDSU, and then raise rent by 20%. We would have a rental shortage near SDSU instantly and local students would need to pay more to be able to live near the school and have less money to spend on other items.

At the same time, this money would go back to the foreign countries, their children and trigger down. Wealth transferred outside. Who gets negatively impactd? U.S of A folks.

Why I speak of this? Because I know it’s happening in San Diego and other parts of CA. CAR won’t complain because their goal is to sell houses. Doesn’t matter who buy it as long as someone buy it.

Just look at Vancouver, people from Hong Kong ‘invest’ in it and now they are the biggest landlord in Vancouver. What happened next? Housing price tripled. Local buyers forced to move out from the good neighborhoods in Vancouver to somewhere remote.

It’s sick.

[Author]

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