Anti-FCB Legislation

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?

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.

 
China is starting to take notice...

China says proposed U.S. ban on Chinese buying U.S. property violates market rules​

BEIJING, Feb 10 (Reuters) - The United States is violating the principles of market economy and international trade rules in considering a ban on Chinese citizens buying property in the United States, the Chinese foreign ministry said on Friday.

"Generalizing the concept of national security and politicising economic, trade and investment issues violate the rules of market economy and international trade rules," spokesperson Mao Ning said at a regular press briefing.

Mao was responding to a question when asked about Texas and Florida considering a ban on Chinese citizens in the United States from buying property.

Texas, Florida, Arkansas and several other states are weighing legislation that would bar Chinese citizens from buying real estate, according to several reports, as tensions rise between the United States and China over national security issues.

"I want to stress that China-U.S. economic and trade cooperation is mutually beneficial in nature. Over the years, Chinese enterprises have invested in the United States and made important contributions to promoting domestic employment and economic development in the United States," said Mao.

 
China is starting to take notice...

China says proposed U.S. ban on Chinese buying U.S. property violates market rules​

BEIJING, Feb 10 (Reuters) - The United States is violating the principles of market economy and international trade rules in considering a ban on Chinese citizens buying property in the United States, the Chinese foreign ministry said on Friday.
Are US citizens able to purchase property in China?
 
Banning Chinese nationals from purchasing US real estate should be a GOP policy position for 2024, and it should work for the Dems as well. NAR will lobby like heck against it.
 
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