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Honored Contributor
Posts: 14,765
Registered: ‎03-09-2010

@catter70  Same here.  There's so little for sale for miles any where near me that prices have skyrocketed and even though I could sell at a large profit, I couldn't begin to find another place to live without adding hundreds of thousands to my expenses.   Not happening.

 

 

 

Honored Contributor
Posts: 14,765
Registered: ‎03-09-2010

Real estate is almost wholly regulated state by state in the USA.  Contact your state representatives for needed changes.

Esteemed Contributor
Posts: 6,890
Registered: ‎03-14-2010

Not only Canada but China. June 15, 2021 - Department of Agriculture shows that foreign investors control nearly 30 million acres of U.S. farmland, roughly the size of Ohio. Texas has the second highest amount of foreign ownership with 3 million acres under foreign control. In Texas, the Federal Government has given the green light to allow a Chinese based energy company to purchase more than 180,000 acres of Texas land near the Rio Grande, just north of Laughlin Air Force Base.

 

The project includes a 30,000 square foot lodge and private runway, allowing the Chinese to move people and equipment free from Federal Government oversight. And the project will receive millions of dollars of American taxpayers subsidies.

Honored Contributor
Posts: 11,594
Registered: ‎03-09-2010

Talk about crazy---I sold my very unremarkable 1900+ sq ft house on some land, in 2 days in Jan of 2021---for $925,000--$140,000 over asking.  And the buyer was in Austin TX---built the  thing in 1986 for under $100,000! Had 10 offers and 3 from just 1 of person !!--Went live Friday afternoon and we signed papers Sunday afternoon!! Am renting but will not be able to buy a suitable house with all this craziness---

Honored Contributor
Posts: 14,552
Registered: ‎05-01-2010

This has been going on for years with the foreign countries buying up some of our land. We should have started complaining then.

Trusted Contributor
Posts: 1,850
Registered: ‎06-24-2021

@drizzellla wrote:

Not only Canada but China. June 15, 2021 - Department of Agriculture shows that foreign investors control nearly 30 million acres of U.S. farmland, roughly the size of Ohio. Texas has the second highest amount of foreign ownership with 3 million acres under foreign control. In Texas, the Federal Government has given the green light to allow a Chinese based energy company to purchase more than 180,000 acres of Texas land near the Rio Grande, just north of Laughlin Air Force Base.

 

The project includes a 30,000 square foot lodge and private runway, allowing the Chinese to move people and equipment free from Federal Government oversight. And the project will receive millions of dollars of American taxpayers subsidies.


The purchase of that land, approved by the government in 2018, was for a wind farm. Was it ever built? 

I didn't realize taxpayers were subsidizing. Is it Texas taxpayers? Or everyone?

Trusted Contributor
Posts: 1,850
Registered: ‎06-24-2021

Much of rising home prices is a result of the pandemic. People stayed home for 2 years. Many people put money into their homes when they suddenly found themselves working remotely and spending more time in their home and on their property. Now people are hesitant to move if they don't have to. So there's no inventory, which pushes up price and competition for the few homes on the market.

It is a cycle I've seen happen over and over for different reasons. It will come around to normal again.

Respected Contributor
Posts: 2,452
Registered: ‎03-15-2010

People in the US can and do pay cash for houses

Honored Contributor
Posts: 27,708
Registered: ‎03-10-2010

@TW   Yep!  A friend of mine sold her small house in hours for asking or above.  I can't remember, but that was what the buyer was doing. 

Honored Contributor
Posts: 27,708
Registered: ‎03-10-2010

I'll add that I think another economic factor is younger people not buying houses.  The don't see the value of it and there's no fun in it and it's not how they want to spend their money or invest in a future.

 

It is going to be a hard hard wakeup for a lot of these kids and I don't see parents trying to intervene in a lot of cases.  It's the continuing selling of America.  We sold our jobs overseas because we wanted stuff, now it's the houses.