LA Times Seems Shocked That Foreigners Are Buying Homes In America At Record Pace Despite “Immigration Crackdown”

LA Times Seems Shocked That Foreigners Are Buying Homes In America At Record Pace Despite “Immigration Crackdown”

Apparently, all these foreigners buying homes in the U.S. are smart enough to understand that the crackdown is not on immigrants, but on illegal aliens

Foreigners buy record number of U.S. homes despite fears of immigration crackdown

Foreign home buyers scooped up a record number of residential properties in the United States in the last year, despite a rising dollar and political uncertainty, according to a survey released Tuesday.

The National Assn. of Realtors said foreigners bought 284,455 properties in the 12 months that ended March 31, about a third more than a year earlier. Dollar volume surged nearly 50% to $153 billion, also a record for the survey first taken in 2009.

Chinese nationals were the biggest buyers, purchasing $31.7 billion worth of property, up from $27.3 billion a year earlier and more than ever before, the Realtors said.

But the largest increase came from a surge in buyers from Canada, where prices have skyrocketed in recent years, partially due to Chinese investment there.

Rather than this being a straight story on how foreign purchases jumped from 4% to 5%, despite talking points that were worried about the opposite, the silly people have to make this about Trump and his immigration policies

The dramatic jumps come despite a higher U.S. dollar that has made properties more expensive for many foreigners.

In addition, the survey period includes the U.S. presidential campaign and the beginning of the administration of President Trump, who has a history of divisive rhetoric against immigrants and has called for restricting both legal and illegal immigration.

For the most part, Trump has only called on restricting legal immigration from areas which are known terrorist hotbeds. As far as restricting illegal immigration, Trump’s not doing that on a whim: it’s something that’s actually baked into, get this, federal law.

“The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year,” Yun said. “Foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest.”

Must have hurt to put that quote in the story, which blows out the narrative of Trump’s words and actions harming legal immigrants (technically, they wouldn’t be immigrants, but temporary residents, since most are not looking to stay here permanently). These foreigners are smarter than the unhinged supporters of illegal immigration, since they know that they aren’t illegals and that the Trump admin is not coming after them.

Is anyone particularly concerned with Chinese or Canadians going on jihad?

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

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