No foreign countries (or shell corporations) shall be allowed to buy property in US; we have foreign owned state parks, companies buying up subdivisions or agricultural land.
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100% agree. There is an Australian company that owns a toll road in Virginia. US residents, specifically those in VA and nearby states, are paying tolls on US land that is owned by a foreign country.
"RESTON, VA — An Australian company has just bought the remaining 50 percent of the Dulles Greenway for $445 million.
Macquarie Atlas Roads, which is based in Sydney, now has full ownership of the Dulles Greenway. The company had already owned 50 percent of the road and decided to exercise its rights to buy the other half from Macquerie Infrastructure Partners.
It’s a big acquisition for Macquarie Atlas Roads, as it raises the percentage of toll income it receives from U.S. roads to 16 percent from 9 percent, according to the Australian Financial Review.
The company hopes to boost revenues from the Greenway by improving entry and exit points, the report states."
What that particular article doesn’t mention is that the Dulles Toll Road was originally paid for by VA citizens.
Which means, Virginia residents (US citizens) paid for a road to be built and that road was eventually bought out by an Australian Company which now collects tolls from those same VA residents, and whoever else uses that road.
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I get the sentiment, but what if, instead of a full prohibition we put “tarriffs” on US real estate purchased by a foreign entity?
These tarriffs should be collected by the government and should be used to reduce or, if possible, eliminate property tax paid by citizens.
The tarriff would be due at the time of purchase (to make it difficult for a foreign entity to offer a competitive purchase price compared to a citizen making the same purchase) and should also have an amount due annually to make it expensive for a foreign entity to hold large amounts of US real estate.
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That sounds like a possibility but its above my head to figure out what restrictions would have to be made to prevent negative outcomes. Why dont they just lease our property and not own it? Politicians are probably drooling at the thought of backroom deals that could be made while reading this. If we want our future generations to own property, but there’s no more land zoned for housing, what happens then? I want the greater good of Americans to come before the greater good of foreign companies. We have alot of land here, and we have alot of resources under the land.
that is awful and seems unethical. Toll roads are silly and a scam on the people
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