Viewing a single comment thread. View all comments

vasya349 t1_jceggms wrote

Reply to comment by knowmansland in San Diego's new housing policies aim to boost racial integration, reverse lingering effects of redlining by FragWall

Foreign buyers represent less than 2% of national home sales.

−11

BreadItMod t1_jcfcngr wrote

That’s too much, if you’re not a permanent resident of some kind you shouldn’t be allowed to buy anything. It’s the only nationalistic view I hold

15

Scizmz t1_jcg2ccz wrote

I'm more concerned with corporate "investors" at this point. But if you really want to fix housing issues in America outlaw the owning of single family properties by corporations and trusts. Individuals can still own as much as they want, but nobody is going to want that much personal liability.

8

blankarage t1_jcgtaeu wrote

permanent residency doesn’t stop foreign investors, you can buy a path to residency fairly easily. we really need to focus on ~30% of housing being purchased by companies

8

vasya349 t1_jch2aaw wrote

Yeah but it doesn’t affect the larger market at that fraction…

1

navit47 t1_jch92kl wrote

we're aren't looking at housing on a national scale though, even then 2% is pretty high

2

vasya349 t1_jchjswq wrote

Feel free to find data for San Diego specifically. This weird myth that foreign buyers are influencing prices has been disproven by research in both Australia and Canada, I doubt it’s different here. Prices are bad because there’s undersupply and domestic investment groups capitalizing on that.

1

navit47 t1_jchtbl5 wrote

I'm not the one making the claim, its not my perogative to, also again, Australia/Canada doesn't apply to California

1