international buyers: PROTECTIONISM OF FOREIGN PROPERTY OWNERSHIP AFFECTS HOUSING MARKETS
- 10/31/18 12:03 PM
One of the amendments on the upcoming Florida mid-term election ballot involves foreign ownership of US land and property. Amendment 11 proposes omitting the language in the Florida State Constitution that prohibits anyone without US citizenship from buying, selling, owning or inheriting property. These laws were put in place in the 1920’s, aimed at prohibiting Asian immigrants from owning property. Archaic and unenforced, if Amendment 11 passes, this language will be removed. FOREIGN OWNERSHIP LAWS ARE GLOBAL ISSUES The issue of foreign ownership of homes and property is a global issue. Thailand, Switzerland, Singapore, and other foreign countries currently have protectionism laws that ban or limit foreign ownership. … (0 comments)
One of the amendments on the upcoming Florida mid-term election ballot involves foreign ownership of US land and property. Amendment 11 proposes omitting the language in the Florida State Constitution that prohibits anyone without US citizenship from buying, selling, owning or inheriting property. These laws were put in place in the 1920’s, aimed at prohibiting Asian immigrants from owning property. Archaic and unenforced, if Amendment 11 passes, this language will be removed.
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