United States Property

[Janice]

Does anyone know exactly what foreign countries own as far as land and property in the US? I think we would be shocked.

[gtalum]

There was a big fear of the Japanese buying up US land in the 1980's, but as usual the hype was unfounded. What's wrong with foreign nationals buiying property?

[Janice]

Nothing at all is wrong with it, it would just be interesting to know.

[gtalum]

Ok, sorry for getting defensive.

You're probably right, many people would be surprised at the extent of foreign property owenership in the US.

[bvigal]

Really good question, Janice.

Gtalum, the 'problem' is, see what you, as a US citizen, can buy in other countries - what a disparity! And why do countries place limits and regulations on such purchases by foreigners? There must be a reason (there is!). Why would we in the U.S. not be concerned, not have such regulations, for the same reasons? Because we don't pay any attention, or care. Someone changed the law one day, to make themselves and their buddies a lot of money, and nobody noticed. (yawn, what's the football score?)

[coriolis]

I'd imagine that there's a distinction to be made. The original question asked what foreign countries own. I don't think that the foreign gov'ts themselves own much. it would be more like foreign individuals and corporations.

We have American nationals owning property and erecting meth labs. On the other hand, we have a foriegner owning and maintaining a property in good order.

As long as they maintain the properties, obey our laws and pay taxes, what does it hurt? It's not like they're going to take the land and move it out of this country.

Besides, as we're seeing in many eminent domain cases, even the person that owns the property doesn't really own it.

And in conclusion, we're all just tenants in this life anyway.

[Janice]

Yes, I guess you are right. The United States is the real landlord.

[greeng13]

i own my house and rent it from the gov't.

[nholley]

<----- Foreign National with property in the US!

Does any country prevent Foreign Nationals buying property?

[gtalum]

<----- Foreign National with property in the US!

Does any country prevent Foreign Nationals buying property?

Mexico does. Not many others do, though. Generally only really poor countries do that. There's a reason they're poor.

[nholley]

Mexico does. Not many others do, though. Generally only really poor countries do that. There's a reason they're poor.

Seems a really dumb idea....if someone wants to give you money...take it!! I know some make it harder, I have a place in France and the red-tape is a nightmare but there is no law. In the US it was one of the easiest things I have ever done.

[gtalum]

I agree. It's almost always a bad idea to discourage foreign investment in your country.

[conestogo_flood]

Correct me if I'm wrong, but I think Canada owns about 1 square mile of land in southern Louisiana for Hurricane relief. I think it's known as Canadaville.

[Aslkahuna]

Actually a number of Countries have laws prohibiting foreign ownership of either property or businesses. In the Philippines, it has only been recently that Filipinos who became citizens of the US could buy property there and no US born citizen can own property in the Philippines. Actually Japan DID have large land holdings in the US but the bubble burst and they had to divest themselves of their holdings when the Nikkei Stockmarket crashed big time.

Steve