Tim_Tex wrote:
The U.S. should consider doing the same.
... or at least taxing foreign-owned real estate heavily. That might be better than outright banning it.
Alas, it will probably be difficult to get even a small tax on foreign real estate investments passed here in the U.S.A., because it would (horror of horrors!! !!) lower property values just slightly, at least in the short run.
Unfortunately, America's political system is dominated by property owners who believe they have a God-given right to eternally skyrocketing property values, and that said perceived right is ever-so-much more important than anyone else's completely nonexistent (in their view) right to have a roof over their head at all.
Jesus said, "For the love of money is the root of all kinds of evil."
Here in the U.S.A., that would be "For the love of property values ...."
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