The Angry White Republicans In The GOP Dominated Florida Legislature Want To Restrict Foreign Real Estate Purchases
The angry white Republicans of the GOP controlled Florida legislature are at it again. This time, the “Fighin’ Whities” have their sights on severely restricting real estate purchases by foreign investors. The bill focuses on Asian and Latino real estate buyers.
Florida House Bill 1355 would dramatically restrict investment in real estate from Chinese buyers. It also targets Venezuelans and Cuban investors who are mostly asylum seekers with money.
Experts say this bill could have chilling effects on the rest of the foreign buyer market. It could also cause the Florida market to crater.
In other state legislatures, a bill like this would have never made it out of committee. Not the red-neck dominated Florida legislature. Florida lawmakers are advancing the bill that would ban Chinese nationals from purchasing real estate anywhere in the state.
Chinese businesses and people who are not U.S. citizens or residents would not be able to purchase property after July 1. Existing Chinese businesses and or individuals who own real estate in Florida would be barred from buying more.
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