By no means is all (or even most) foreign investment stolen money (though there is a lot of corrupt money sloshing around, including a lot from China). However

By no means is all (or even most) foreign investment stolen money (though there is a lot of corrupt money sloshing around, including a lot from China). However, even just “middle class” millionaire foreign investors parking money in international real estate is highly problematic for the places where the houses are. As an example, my parents live in a quiet suburb of Los Angeles, and recently a few of the neighboring houses were bought by foreign investors. Maintenance has all but stopped. One house was rented long-term to a group of college students who used it as a party house. Tenants move in and out of those houses within a year or two instead of staying long term. Any communication goes through a scummy property management company. If a critical mass of houses get like that, the neighborhood becomes a much different place. Everything becomes transactional and low-trust. The only way to get stuff fixed is by filing formal complaints or threatening legal action. Minor problems just pile up because it’s not worth the trouble. People stop caring about making things pleasant, or even making them work. Remote owners and management companies are just there to make a buck, and tenants are just temporarily stopping through for a place to sleep while they work out something more permanent elsewhere.