I don't think the city would do it. If something like that were to happen, I presume it would be more "state" wide vs. city. If Irvine did it, you'd just push the money into neighboring cities (more likely than not) and it may not have the effects one would think by implementing it. That is if you think it is a good thing to do. I have a mixed opinion as it relates to this as you do need to keep real estate at certain affordability levels to ensure the county and city has the right job pool to pull from and thus has a strong employment base. If you get to the point where you have an exodus of people, longer term, employers will follow (as you'll have talent gaps) and that would not be good for the health of Irvine.renter1 said:
Home sales weaken as Chinese investors sour on US real estate!!!
- Thread starter RHOC
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irvinehomeowner
Well-known member
Much harder to push targeted taxation in the US... unless you make it some special Mello Roos. 
This is kind of like a sports stadium tax where you build a stadium by increasing hotel tax (i.e., making others pay for it). The people who live there don't care, cause the tax doesn't impact them. Similarly, this type of tax probably could pass, because the people voting already live here and thus may not care that much about if you tax new foreign buyers 15%.irvinehomeowner said:Much harder to push targeted taxation in the US... unless you make it some special Mello Roos.
Bullsback said:This is kind of like a sports stadium tax where you build a stadium by increasing hotel tax (i.e., making others pay for it). The people who live there don't care, cause the tax doesn't impact them. Similarly, this type of tax probably could pass, because the people voting already live here and thus may not care that much about if you tax new foreign buyers 15%.irvinehomeowner said:Much harder to push targeted taxation in the US... unless you make it some special Mello Roos.
But if he goes through with the deportation, there might be no end in sight. Also, the "test" to see if a person values are aligned with Americans. If not your out.
Note: these are hypotheticals, and his potential policies keep on changing so don't quote me
Just received this snippet from BML Wealth Management
China Loves U.S. Real Estate Opportunities
Volatility in the Chinese economy has led to scores of wealthy individuals and corporations investing in the United States -- particularly U.S. real estate. Within the past year, wealthy Chinese individuals bought three times more residential properties in the U.S. than other foreign nationals, totaling more than $28 billion.
In 2015, Chinese investors bought more than 33,000 homes at a median price of $542,084, favoring high-end markets in California and New York. Chinese companies also invested more than $4.4 billion in U.S. commercial real estate last year.
One Chinese company, Anbang Insurance Group, purchased the JW Marriott Essex House Hotel near Central Park in Manhattan and Four Seasons hotels and resorts in the Silicon Valley area, Jackson Hole, Wyoming and Washington. In 2014, that same insurance company bought New York's Waldorf Astoria hotel.
In recent years, many people in China have amassed substantial wealth through the development of manufacturing, high tech and real estate companies and by investing in the stock market. Today, about 2 million Chinese households hold more than $1 million in assets, and it's projected that by 2020, 4 million Chinese families will hold a combined $15 trillion in investable assets.
Despite the Chinese government's attempts to restrict currency flow into global capital markets, people seeking stable, long-term returns continue to pour money into U.S. investments. Currently, Chinese individuals are limited to investing no more than the equivalent of about $50,000 in foreign investments a year. However, many investors use trusts, partnerships, private equity funds and limited liability corporations to shield discovery, and about 71 percent of Chinese home buyers purchase U.S. properties with cash. Over the next five years, direct investment by the Chinese in the U.S. commercial and residential real estate markets is expected to reach $218 billion.
Sources:
1. Diana Olick. CNBC. July 6, 2016. "Foreign buyers flood US real estate, but buy cheaper homes."http://www.cnbc.com/2016/07/06/foreign-buyers-flood-us-real-estate-but-buy-cheaper-homes.html.Accessed July 13, 2016.
2 Abby Schultz. Barron's. May 20, 2016. "Chinese U.S. Real Estate Demand Tip of the Iceberg."http://www.barrons.com/articles/chinese-u-s-real-estate-demand-tip-of-the-iceberg-1463706667.Accessed July 13, 2016.
3 Diana Olick. CNBC. July 6, 2016. "Foreign buyers flood US real estate, but buy cheaper homes."http://www.cnbc.com/2016/07/06/foreign-buyers-flood-us-real-estate-but-buy-cheaper-homes.html.Accessed July 13, 2016.
4 Kaitlin Ugolik. Institutional Investor. May 5, 2016. "China Gets Real About U.S. Real Estate."http://www.institutionalinvestor.co...real-about-us-real-estate.html#/.V4PF1rgrKM8.Accessed July 13, 2016.
5 Amie Tsang. The New York Times. March 13, 2016. "Chinese Owner of Waldorf Astoria Bets Big on More U.S. Hotels."http://www.nytimes.com/2016/03/14/b...dorf-astoria-bets-big-on-more-us-hotels.html.Accessed July 13, 2016.
6 Allen T. Cheng. Institutional Investor. May 25, 2016. "UBS's Hu Yifan Forsees Golden Age for Chinese Wealth Management."http://www.institutionalinvestor.co...agement.html?ArticleId=3556725#/.V4PEJrgrKM8.Accessed July 13, 2016.
7 Abby Schultz. Barron's. May 20, 2016. "Chinese U.S. Real Estate Demand Tip of the Iceberg."http://www.barrons.com/articles/chinese-u-s-real-estate-demand-tip-of-the-iceberg-1463706667.Accessed July 13, 2016.
China Loves U.S. Real Estate Opportunities
Volatility in the Chinese economy has led to scores of wealthy individuals and corporations investing in the United States -- particularly U.S. real estate. Within the past year, wealthy Chinese individuals bought three times more residential properties in the U.S. than other foreign nationals, totaling more than $28 billion.
In 2015, Chinese investors bought more than 33,000 homes at a median price of $542,084, favoring high-end markets in California and New York. Chinese companies also invested more than $4.4 billion in U.S. commercial real estate last year.
One Chinese company, Anbang Insurance Group, purchased the JW Marriott Essex House Hotel near Central Park in Manhattan and Four Seasons hotels and resorts in the Silicon Valley area, Jackson Hole, Wyoming and Washington. In 2014, that same insurance company bought New York's Waldorf Astoria hotel.
In recent years, many people in China have amassed substantial wealth through the development of manufacturing, high tech and real estate companies and by investing in the stock market. Today, about 2 million Chinese households hold more than $1 million in assets, and it's projected that by 2020, 4 million Chinese families will hold a combined $15 trillion in investable assets.
Despite the Chinese government's attempts to restrict currency flow into global capital markets, people seeking stable, long-term returns continue to pour money into U.S. investments. Currently, Chinese individuals are limited to investing no more than the equivalent of about $50,000 in foreign investments a year. However, many investors use trusts, partnerships, private equity funds and limited liability corporations to shield discovery, and about 71 percent of Chinese home buyers purchase U.S. properties with cash. Over the next five years, direct investment by the Chinese in the U.S. commercial and residential real estate markets is expected to reach $218 billion.
Sources:
1. Diana Olick. CNBC. July 6, 2016. "Foreign buyers flood US real estate, but buy cheaper homes."http://www.cnbc.com/2016/07/06/foreign-buyers-flood-us-real-estate-but-buy-cheaper-homes.html.Accessed July 13, 2016.
2 Abby Schultz. Barron's. May 20, 2016. "Chinese U.S. Real Estate Demand Tip of the Iceberg."http://www.barrons.com/articles/chinese-u-s-real-estate-demand-tip-of-the-iceberg-1463706667.Accessed July 13, 2016.
3 Diana Olick. CNBC. July 6, 2016. "Foreign buyers flood US real estate, but buy cheaper homes."http://www.cnbc.com/2016/07/06/foreign-buyers-flood-us-real-estate-but-buy-cheaper-homes.html.Accessed July 13, 2016.
4 Kaitlin Ugolik. Institutional Investor. May 5, 2016. "China Gets Real About U.S. Real Estate."http://www.institutionalinvestor.co...real-about-us-real-estate.html#/.V4PF1rgrKM8.Accessed July 13, 2016.
5 Amie Tsang. The New York Times. March 13, 2016. "Chinese Owner of Waldorf Astoria Bets Big on More U.S. Hotels."http://www.nytimes.com/2016/03/14/b...dorf-astoria-bets-big-on-more-us-hotels.html.Accessed July 13, 2016.
6 Allen T. Cheng. Institutional Investor. May 25, 2016. "UBS's Hu Yifan Forsees Golden Age for Chinese Wealth Management."http://www.institutionalinvestor.co...agement.html?ArticleId=3556725#/.V4PEJrgrKM8.Accessed July 13, 2016.
7 Abby Schultz. Barron's. May 20, 2016. "Chinese U.S. Real Estate Demand Tip of the Iceberg."http://www.barrons.com/articles/chinese-u-s-real-estate-demand-tip-of-the-iceberg-1463706667.Accessed July 13, 2016.