New data shows foreign investment into US real estate has dropped a lot. Ana Kasparian, Francis Faxwell, and Mark Thompson, hosts of The Young Turks, discuss. Tell us what you think in the comment section below. http://www.tytnetwork.com/join
Read more here:
http://www.latimes.com/business/la-fi-chinese-investment-falls-20180327-story.html
“Notable Chinese acquisitions in the Los Angeles area last year included the $117-million purchase of the Alhambra, a mixed-use complex of housing, offices and shops created out of the former C.F. Braun Engineering campus in Alhambra.
Another large deal was the $115-million purchase of the DoubleTree by Hilton Hotel Los Angeles Downtown.
Janice Stanton of Cushman & Wakefield, who advises overseas investors, said that she believes money from investors in other countries will continue to flow into the U.S.”
Hosts: Ana Kasparian, Francis Maxwell, Mark Thompson
Cast: Ana Kasparian, Francis Maxwell, Mark Thompson
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26 responses to “China Is To Blame For The Housing Crisis… Kinda”
Why is any of this illegal….has anyone ever thought that a huge reason is that its so hard to build more supply and therefore price will continue to rise…not only that who said that you have a right to own a home. Yes of course it is upsetting that people cant afford a home but it doesnt mean you should punish a business…
These government officials and realestate agents are aiding and abeding our enemies in destroying our country.
The us state and federal government are to blame for housing crisis,no foriegn Nationals should be able to buy or own land or property in america.any lawmakers who allows foriegners to buy or own American soil is a traitor.foriegners,banks,and landlords, and hud are the causes for the housing crisis.
but isn't 1) ridiculous amounts of foreign aid and 2) no citizenship requirements for property ownership, a couple of policy initiatives by the progressives?!?!
#1 money laundering is buying real estate. Location dictates prices too.🏘🏡🏠🏕🏚⛩
This is a huge problem in Honolulu. What Anna said in the last 30 seconds of this video is literately verbatim what I have been saying about Oahu's south shore. I used to live in Ala Moana/Kaka'ako, but I can no longer afford to live there. The vacancy rates in the luxury high-rises are much more than 10-15%… it's more like 50-70%. And of course you have the tent cities over by the medical school where school buses pick children up to go to school. These are working families I am talking about!
And Honolulu doesn't benefit very much with the tax revenue because our property taxes are the lowest (by far) in the nation… which is part of the problem. Low property taxes seem to be allowing mainland and foreign real estate investors to scoop up the supply and hold on to it long-term, meanwhile our single-family home's median price is projected to approach $800,000 by the end of the year. We are a tourist and service sector economy for pete's sake!
I totally agree we should put heavy taxes on foreigner real estate buyers. It is the US tax payers who paid their taxes yearly to build the school and infrastructures. Why should we allow people to come here to buy a property and enjoy all the benefits that the tax payers pay to build while leaving us in the cold with our dicks out?
What i would propose is any foreign home buyers will subject to ten times of property tax (of what a US citizen would have to pay) for each property they own in the United States annually unless they can provide proof that he/she paid income tax of 100k or more annually/per home to qualify for exemption.
I THOUGHT THAT TRUMP WANTED TO PUT AMERICA FIRST?!..there is no regulations CHINA owns this country and our government
Do like they do in other countries like Mexico. You have to be a resident of the country to own property.
I can't even afford to buy a house in Compton California now… prices there are in the mid to high 400k
I'm in the Real Estate industry, in 1980 we actually did pass a law called FIRPTA which taxes the Real Estate income of foreign investors. My issue with the law is that it holds the buyer responsible for collecting the amount to be taxed at closing from the foreign investor. I'm not sure that it can be structured any other way though cause how would the IRS collect a tax from a foreign national? 🤔
Russia is in Asia. That makes it Asian money. What separates them from other Asians?
Wait a minute now. China is a communist country. How are these commies getting rich? I don't hear anyone talking about that!
Francis is once the champion at proving that he can re-state, slowly, the entire news article. thanks for adding nothing to the story Francis, and for taking so long to do it.
Sadly, nothing will be done because the legacy of America is…AMERICAN GREED!!!!!!!!!!!
Americans, ask yourselves why your government fails to construct mass public housing housing projects like those we have in China. So many of you are quick to be fooled by propaganda criticizing us for "Ghost Cities" but in reality we build entire high rise apartment districts in a matter of months. They only stay empty until construction is finished and arrangements can be made for people to move into them, then each district houses thousands of people.
The quality of each apartment is on par with the average median income studio apartment in the United States, far better than what is usually provided by your own public housing.
Why is the United States not capable of doing the same for it's own citizens? When the richest nation in the world has less than a quarter of our population and can't even provide it's own citizens with adequate public housing, that is because a decision has been made in your country, a decision to value to profits of a few over the welfare of the many.
It's always great to see western liberals scapegoating foreign countries for problems their own capitalists caused.
Trump has massive investments in real estate. He wouldn't be for stopping this.
Funny how they can buy houses in our country, yet cannot live here cause they are immigrants LOL.. so the rich immigrant will buy up all the houses and force the citizens to leave.. then this city will be left with empty homes. that is hilarious I thought we had laws that kept non-US citizen from buying homes in US country? So your telling me that a Mexican immigrant can buy a home in the US too?
Find those foreign homes and burn then down, im sure the insurance companies will pay them back LOL
Honestly the Chinese investors aren't to be blamed. It's the real estate developers who want quick cash who are at fault.
It's in part the oligarchs of China and Russia parking their money in safe locations in the west(some for laundering money), and partly because of low interest rates combined with tight supply. It's a bit of a perfect storm.
I like chicken chow mein
I have family near Seattle that own a single story duplex, two bedroom two bath with a 1 car garage. The value jumped from around 430k to 560k in 2 years so its not just in LA. Somewhere else that house would cost only around 200-250k.
Rapid standard worry like issue stretch stuff general tale cost future them.
You guys got 2010 news wrong again.