Florida bans Chinese citizens from buying land | Hacker News Reader

Florida bans Chinese citizens from buying land

foxnews.com

This isn't widely talked about, but one of the ways that folks in China can get their money out of China is by buying foreign real estate. So if you're worried about protecting your assets from the CCP, this is a great way to do that.

But one of the side effects is that it drives up costs of real estate for citizens. It's hard for a regular person to win a bidding war with the Chinese millionaire/billionaire who is more concerned about protecting their assets than buying a home for a fair price.

Things got so bad in Vancouver, that they banned foreign buyers. See: https://www.immigration.ca/canada-foreign-buyer-ban-starting...

The net was buying moved from Vancouver to Seattle.

This feels like it has to be a federal matter. It's impossible to imagine every state picking & choosing how it runs it's own international diplomatic ties. It would be too cruel to make the US into 50 different states everyone has to bargain with.

> This feels like it has to be a federal matter. It's impossible to imagine every state picking & choosing how it runs it's own international diplomatic ties.

I'd think so too - but apparently not: https://en.wikipedia.org/wiki/Property_law_in_the_United_Sta...

It seems that property is mostly a state thing, but it's certainly interesting that it has international effects and an impact on the US' reputation nationally.

> It would be too cruel to make the US into 50 different states everyone has to bargain with.

I'm trying to think of the alternative, but guaranteeing the ability for any entity to purchase land in any state seems like a lot of power for the federal government to have.

Presidential election incoming and DeSantis is trailing Trump. That's the reason behind this law, IMHO.

> unless they are also a U.S. citizen or permanent resident.

This is very reasonable and compares favorably to policy in a variety of other nation states.

I wish the whole US had a law that said "unless you're a citizen of a country where US citizens are allowed to buy land, you're not allowed to buy land here."

the wall 2.0

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