(UnitedVoice.com) – Florida’s housing market has ballooned in the last few years. As more people move to the state, housing has become harder to find. That’s increased the price of homes for sale and those for rent. Foreign investors have also flocked to the Sunshine State, snatching up properties. Chinese investors buying real estate in the US pose a credible threat to national security, raising concerns.
Governor Ron DeSantis (R) is now tackling the issue of China purchasing property in his state. The conservative leader made it very clear he intends to protect the interests of his constituents.
On January 10, DeSantis held a press conference to discuss the issue of Chinese investors buying land in Florida. According to The Epoch Times, the Republican governor said the Chinese Communist Party (CCP) “is gobbling up land and investing in different things.” He pointed out that the Asian country has “wielded [its] authority” when the nation’s interests differ from those of America. He said he doesn’t want his state’s economy to become reliant on “hostile nations.”
Jimmy Patronis, Florida’s chief financial officer, appeared on “Fox & Friends First” on January 12 to discuss the decision. He said he applauds the “governor’s leadership on this issue” while they are dealing with the “globalist policies” of President Joe Biden’s administration.
National Security Risk & Depleted Inventory
National security experts have warned about China purchasing farmland and other properties near US military bases. Critics say the country is trying to gain access to the bases’ communications or other information. In August, Senator Mike Rounds (R-SD) introduced legislation to ban China from purchasing American farmland. He released a statement at the time saying it was “critical to maintaining [America’s] national security.”
A month earlier, Rep. Elise Stefanik (R-NY) introduced a similar bill in the lower chamber. The legislation also proposed blacklisting Iranians, Russians, and North Koreans from purchasing properties.
According to a Pew Trusts report, foreign investors purchased 24% of all single-family homes sold in 2020. That was up from an annual average of about 15% dating back to 2012. The non-partisan think tank revealed how investors have driven up the rent prices for Americans.
If foreign investors are purchasing large swaths of property, it creates shortages leading to price rises. For Americans living on limited incomes, that’s a recipe for disaster, with prices already being high due to inflation.
It’s unclear when DeSantis intends to introduce legislation or policies making his announcement official.
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