When foreigners who are not here invest in real estate, we end up subsidizing it. The roads, the police and fire fighting, etc, which make the property valuable or even viable, are not paid for with property taxes but other taxes the foreign-based owner is not contributing to.
Most nations have limits or prohibitions on the amount of investing foreigners can participate in. we think it’s good because the dollars are back in the US, but it’s not great because control is no longer in the hands of someone who might have US interests in mind.
Why exchange US dollars, which maintain or increase in value, for goods which will have a precipitous decline in value over the first 2 or 3 years?
What's the difference between a foreigner and an out-of-state owner who doesn't pay other taxes where the property is?