5 ms·

Florida bans Chinese citizens from buying land

10 points by therealcamino 3y ago

rektide 3y ago
This feels like it has to be a federal matter. It's impossible to imagine every state picking & choosing how it runs it's own international diplomatic ties. It would be too cruel to make the US into 50 different states everyone has to bargain with.
- mytailorisrich 3y ago
  Presidential election incoming and DeSantis is trailing Trump. That's the reason behind this law, IMHO.
- TobyTheDog123 3y ago
  > This feels like it has to be a federal matter. It's impossible to imagine every state picking & choosing how it runs it's own international diplomatic ties. I'd think so too - but apparently not: https://en.wikipedia.org/wiki/Property_law_in_the_United_States https://en.wikipedia.org/wiki/Property_law_in_the_United_Sta... It seems that property is mostly a state thing, but it's certainly interesting that it has international effects and an impact on the US' reputation nationally. > It would be too cruel to make the US into 50 different states everyone has to bargain with. I'm trying to think of the alternative, but guaranteeing the ability for any entity to purchase land in any state seems like a lot of power for the federal government to have.
gdubchcb 3y ago
the wall 2.0
pneill 3y ago
This isn't widely talked about, but one of the ways that folks in China can get their money out of China is by buying foreign real estate. So if you're worried about protecting your assets from the CCP, this is a great way to do that. But one of the side effects is that it drives up costs of real estate for citizens. It's hard for a regular person to win a bidding war with the Chinese millionaire/billionaire who is more concerned about protecting their assets than buying a home for a fair price. Things got so bad in Vancouver, that they banned foreign buyers. See: https://www.immigration.ca/canada-foreign-buyer-ban-starting-in-january-but-permanent-and-temporary-residents-exempt/ https://www.immigration.ca/canada-foreign-buyer-ban-starting... The net was buying moved from Vancouver to Seattle.
toomuchtodo 3y ago
> unless they are also a U.S. citizen or permanent resident. This is very reasonable and compares favorably to policy in a variety of other nation states.
josephcsible 3y ago
I wish the whole US had a law that said "unless you're a citizen of a country where US citizens are allowed to buy land, you're not allowed to buy land here."

10 points by therealcamino 3y ago

This feels like it has to be a federal matter. It's impossible to imagine every state picking & choosing how it runs it's own international diplomatic ties. It would be too cruel to make the US into 50 different states everyone has to bargain with.

mytailorisrich 3y ago
Presidential election incoming and DeSantis is trailing Trump. That's the reason behind this law, IMHO.
TobyTheDog123 3y ago
> This feels like it has to be a federal matter. It's impossible to imagine every state picking & choosing how it runs it's own international diplomatic ties. I'd think so too - but apparently not: https://en.wikipedia.org/wiki/Property_law_in_the_United_States https://en.wikipedia.org/wiki/Property_law_in_the_United_Sta... It seems that property is mostly a state thing, but it's certainly interesting that it has international effects and an impact on the US' reputation nationally. > It would be too cruel to make the US into 50 different states everyone has to bargain with. I'm trying to think of the alternative, but guaranteeing the ability for any entity to purchase land in any state seems like a lot of power for the federal government to have.

gdubchcb 3y ago

the wall 2.0

pneill 3y ago

This isn't widely talked about, but one of the ways that folks in China can get their money out of China is by buying foreign real estate. So if you're worried about protecting your assets from the CCP, this is a great way to do that. But one of the side effects is that it drives up costs of real estate for citizens. It's hard for a regular person to win a bidding war with the Chinese millionaire/billionaire who is more concerned about protecting their assets than buying a home for a fair price. Things got so bad in Vancouver, that they banned foreign buyers. See: https://www.immigration.ca/canada-foreign-buyer-ban-starting-in-january-but-permanent-and-temporary-residents-exempt/ https://www.immigration.ca/canada-foreign-buyer-ban-starting... The net was buying moved from Vancouver to Seattle.

toomuchtodo 3y ago

> unless they are also a U.S. citizen or permanent resident. This is very reasonable and compares favorably to policy in a variety of other nation states.

josephcsible 3y ago

I wish the whole US had a law that said "unless you're a citizen of a country where US citizens are allowed to buy land, you're not allowed to buy land here."