Liar Loan
Well-known member
We've all heard about Canada's ban on foreign buyers, but this movement is also picking up steam in the US. Texas is leading the way, but the article mentions that 11 states are considering some form of legislation regulating foreign ownership of real estate... including California! A recent bill passed both houses of the Dem-controlled CA legislature to outlaw foreign ownership of farmland, but the boy king and aspiring President, vetoed the law. I wonder who paid him contributed to his campaign to get that done?
Now, a Republican state senator is proposing to broaden the ban, seeking to stop Chinese citizens and companies from buying land, homes or any other real estate in Texas. Gov. Greg Abbott announced his support last month: “I will sign it,” he wrote without equivocation on Twitter.
The geopolitical strain has fueled calls for a more aggressive approach to Chinese investments in the United States with an eye on security.
“We don’t want to have holdings by hostile nations,” Gov. Ron DeSantis of Florida said in a news conference last month. Gov. Glenn Youngkin of Virginia made it part of his State of the Commonwealth speech soon after, urging lawmakers in his state to prevent “dangerous foreign entities” tied to the Chinese government from purchasing farmland.
Some of the new and proposed laws go beyond targeting Chinese nationals to broadly take aim at ownership by all foreign governments, businesses and new immigrants. Other laws, like the one under consideration in Texas, single out countries seen as particular security threats, including Russia, Iran and North Korea, in addition to China.
www.nytimes.com
How U.S.-China Tensions Could Affect Who Buys the House Next Door
After a Chinese billionaire with plans to create a wind farm bought up more than 130,000 acres of Texas land, some of it near a U.S. Air Force base, the state responded with a ban on such infrastructure projects by those with direct ties to China.Now, a Republican state senator is proposing to broaden the ban, seeking to stop Chinese citizens and companies from buying land, homes or any other real estate in Texas. Gov. Greg Abbott announced his support last month: “I will sign it,” he wrote without equivocation on Twitter.
The geopolitical strain has fueled calls for a more aggressive approach to Chinese investments in the United States with an eye on security.
“We don’t want to have holdings by hostile nations,” Gov. Ron DeSantis of Florida said in a news conference last month. Gov. Glenn Youngkin of Virginia made it part of his State of the Commonwealth speech soon after, urging lawmakers in his state to prevent “dangerous foreign entities” tied to the Chinese government from purchasing farmland.
Some of the new and proposed laws go beyond targeting Chinese nationals to broadly take aim at ownership by all foreign governments, businesses and new immigrants. Other laws, like the one under consideration in Texas, single out countries seen as particular security threats, including Russia, Iran and North Korea, in addition to China.
How U.S.-China Tensions Could Affect Who Buys the House Next Door
States are pursuing bills to bar Chinese citizens and companies from purchasing land. In Texas, legislation backed by Gov. Greg Abbott brought opposition from Democrats in the state’s growing cities and suburbs.
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