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>>This is a net positive for Americans (increasing real estate prices mean increasing total wealth).

Uh, not so much. Being priced out of home ownership means a smaller and smaller portion of Americans would (do) benefit from this increased "total wealth".

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Uneven wealth distribution is a problem that Americans could fix by themselves if they wanted to. The solution is not to drive foreign investment elsewhere.

It is a solution. Buying real-estate is not as economically productive as say creating a factory. We created factories in china, imported their goods, gave them $$$, with which they are slowly buying america. Remember every time u import, you are selling your country. If its not balanced with exports, you are eventually handing off the country. America was long depending on fooling other countriesby devaluing dollars, but tgat does not work with china.

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