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Imho there should be restrictions on foriegn nationals buying property and land (in any country). Even in Canada there are issues with wealthy Chinese nationals buying up housing and property at premium rates and outbidding locals, which is spiking the values heavily.
Similar is occurring in Florida and elsewhere, where outside entities and corporations are buying up much of the housing market at premium rates well above what the local economies can sustain. They then turn around and try to rent them out at a super high rate. It’s predatory.