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Start by banning China (and any other country that doesn't allow US citizens to own land) from owning property in the US. Something tells me when you get rid o

Start by banning China (and any other country that doesn't allow US citizens to own land) from owning property in the US. Something tells me when you get rid of all the foreign profit lords, that property will be much more affordable in many areas.

save_ferris 6y ago
It’s not that simple, unfortunately. US businesses and governments have heavily relied on Chinese capital for various economic initiatives, from transit to manufacturing.[0] Barring one of our largest financial partners (and largest creditors) would certainly have a devastating effect on our economy. 0: https://www.americanmanufacturing.org/blog/entry/congress-examines-the-threat-of-chinese-state-owned-enterprises-to-the-u.s https://www.americanmanufacturing.org/blog/entry/congress-ex....
- shard972 6y ago
  Why isn't it devastating the Chinese economy by banning foreign the same kinds of foreign investments?
hn_throwaway_99 6y ago
My guess is the Chinese are eventually going to want something real when they ship us tons of real goods and we ship them paper.
FireBeyond 6y ago
How do you make that happen, realistically? "You must sell." "Okay, this 3br house is $10MM. It's not selling." Eminent domain? Are we going to do that for the huge swathes of vacant homes we already have, too?
- deleted 6y ago
  [deleted]
- tree3 6y ago
  The government already values homes for the purpose of property taxes.
  - FireBeyond 6y ago
    So you're mandating that a house must not just be sold, but that it must be sold at or below property-appraised tax value? That is sure to go down well.
missedthecue 6y ago
The number of housing buys in the US and Canada that are by Chinese nationals is low single digits. Chinese people, AirBnB, and boomers seem to be the boogeymen of choice for people who want to blame high housing prices on anything other than the fact that new housing supply has been retarded while demand continues to increase at a low but steady rate. If demand grows while supply stays constant, any 7th grader could tell you the consequences, but this basic fact seems to elude our elected officials.
- capsulecorp 6y ago
  You conveniently fail to mention that those properties are in already high demand areas with huge shortages in affordable housing. It makes a difference, like it or not. Pretending that because its not the entire issue, it isn't part of it at all, is ignorant at best.

save_ferris 6y ago

It’s not that simple, unfortunately. US businesses and governments have heavily relied on Chinese capital for various economic initiatives, from transit to manufacturing.[0] Barring one of our largest financial partners (and largest creditors) would certainly have a devastating effect on our economy. 0: https://www.americanmanufacturing.org/blog/entry/congress-examines-the-threat-of-chinese-state-owned-enterprises-to-the-u.s https://www.americanmanufacturing.org/blog/entry/congress-ex....

shard972 6y ago
Why isn't it devastating the Chinese economy by banning foreign the same kinds of foreign investments?

hn_throwaway_99 6y ago

My guess is the Chinese are eventually going to want something real when they ship us tons of real goods and we ship them paper.

FireBeyond 6y ago

How do you make that happen, realistically? "You must sell." "Okay, this 3br house is $10MM. It's not selling." Eminent domain? Are we going to do that for the huge swathes of vacant homes we already have, too?

deleted 6y ago
[deleted]
tree3 6y ago
The government already values homes for the purpose of property taxes.
- FireBeyond 6y ago
  So you're mandating that a house must not just be sold, but that it must be sold at or below property-appraised tax value? That is sure to go down well.

missedthecue 6y ago

The number of housing buys in the US and Canada that are by Chinese nationals is low single digits. Chinese people, AirBnB, and boomers seem to be the boogeymen of choice for people who want to blame high housing prices on anything other than the fact that new housing supply has been retarded while demand continues to increase at a low but steady rate. If demand grows while supply stays constant, any 7th grader could tell you the consequences, but this basic fact seems to elude our elected officials.

capsulecorp 6y ago
You conveniently fail to mention that those properties are in already high demand areas with huge shortages in affordable housing. It makes a difference, like it or not. Pretending that because its not the entire issue, it isn't part of it at all, is ignorant at best.