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I wonder what ways US could prevent Chinese money buying real estate in the US? 1. Do what Vancouver did, add tax for foreign property ownership. 2. Tighten th
by tehlike 10y ago
I wonder what ways US could prevent Chinese money buying real estate in the US?
1. Do what Vancouver did, add tax for foreign property ownership.
2. Tighten the checks on origin of money? How exactly, especially when it's coming as all cash? Maybe forcing it to go through a bank, where more thorough check is mandatory per IRS? But then again, banks are not the most trustworthy in this country.
3. Other ideas?
- Hondor 10y agoWhy ban Chinese money, not local money or money from other countries? What's your actual goal? To keep rich people concentrated in the places they came from? Transferring money internationally is already a pain in the ass. You want to make it even harder? To outlaw bitcoin too? China itself is already restricting its people from taking money out of the country. It's nearly impossible for normal people to invest overseas because banks won't allow them to transfer their money.
- tehlike 10y agoThry can probably invest in housing through indirect ways. When the houses chinese bought do not result in increased housing, thats when things are wrong.
- angry_octet 10y agoForce them to invest in property trusts that build subsidised housing. Capped rental rates and penalties for non occupancy. Also allow other infrastructure bonds (rail, road, ports). It's the Zh retail investors who are screwing it up while baby boomers make windfall gains and the economy gets distorted.