Real estate in the US is also used too launder money. https://www.reuters.com/world/us/us...down-real-estate-money-laundering-2023-08-10/ The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists and other criminals to hide ill-gotten gains. The long-awaited rule is expected to require that real estate professionals such as title insurers report the identities of the beneficial owners of companies buying real estate in cash to the Treasury's Financial Crimes Enforcement Network (FinCEN). FinCEN is slated to propose the rule sometime this month, according to its regulatory agenda, though the timeline could slip, said two people briefed on the developments. Anti-corruption advocates and lawmakers have been pushing for the rule, which will replace the current patchwork reporting system. Criminals have for decades anonymously hidden ill-gotten gains in real estate, Treasury Secretary Janet Yellen said in March, adding that as much as $2.3 billion was laundered through U.S. real estate between 2015 and 2020.
If another nation is fine with you owning a second home there, I don’t have an issue with. What I am saying is that if a bunch of Americans starting buying up homes and priced out the locals - and that government placed heavy taxes or restrictions on Americans buying homes there, I would understand. In the case of the USA, yes certain purchases, including agricultural land in huge acreage by foreign entities is concerning to me. One of my largest concerns is housing in the USA and the availability of affordable housing that Americans can rent AND buy. What separated the USA from other major western countries was the real ability of citizens to buy their own home. For Americans - especially those 40 and younger, the cost of housing is insane. Apartments offer options but not homeownership and right now the cost of Apartments is very high. Investment/capitalist fund are buying up homes in the USA at a fast rate. Individual Americans with the credit are buying up and then leasing a large amount of other homes. Baby boomers are not moving out like their parents did either. Further, local boards (both D and R) are passing rules so that more modest 1-2 bedroom homes cannot be built - so we are getting $500,000-$900,000 McMansions being built. This all contributes to the homeless situation, the labor shortage in some places, increased crime and drug usage and a general discontent. Now in California, New York and Chicago and the Chicago suburbs, we are seeing Chinese, South Koreans, Europeans and Saudi’s buying up homes when they do hit the market and they don’t live in the USA - they try using them or websites to rent them out for travelers. In some places it is really bad. Where I live, there are about 8,000 people and it is very desirable because it is wooded, has valleys and is 99% white. As a results most the homes have gone from being worth $150,000 to a million dollars. It has pushed out people that are 4th generation families because of the property taxes. When they sold their homes 5+ years ago Americans moved in, they were mostly doctors or other high earners… so the affordable lower and middle class were gone… and now, it isn’t even wealthy Americans, it is foreigners buying the homes and they sit empty…. While there are people with jobs living in their cars less than a 10 minute drive away.
I love Fetterman - I can’t help it. Maybe it’s my male white entitlement showing through… but I love that he wears what he wants. However I am also aware that if a woman or brown or black person tried to do that, they would be destroyed. Besides - Fetterman has the autistic vote on lockdown.
Where is this happening? It should be concerning. The amount of Air B/B stuff is ridiculous around Austin and in the Hill Country. It's killing the rental market. Now town/cities like Marble Falls are planning multiple new multi-family developments left and right (as much as land as they can get), it's insane (...and WATER). You would not believe what I was just offered for my little 250 acres, 15 minutes from the "city" (maybe I will go buy an island?)
this is how stupid this ****ing guy is. I'm not a fan of Rand but just look at what he said, I'm sorry your stupid ****ing ass is missing the superbowl
no, he's a 100% wrong, Rand "the american people come first" Fetterman: No, superbowl Sorry, its impossible to support the ****ing bullshit that is congress
Except that Rand Paul is utterly full of **** and it's all posturing and grandstanding. It doesn't matter if it's the Superbowl or regular business hours. If some politician is holding up the process for no good reason, he's a prick.
I mean, is he wrong? People hate Congress because they see it as self-righteous theater for Model UN dorks. Rand Paul is a performance artist who likes the limelight. Holding up a bill so he can speak for an hour (I didn't hear Fetterman mention the Super Bowl in the short clip you posted, but I'm not about to waste an hour of my time watching Rand Paul speak) is theater.
Totally. I don't get the OP's indignation at one of them. Everyone in Congress is an actor to some degree.
