> But what we also need is to immediately disallow the purchase of land by foreign entities that is not used for habitation.
Why limit that to just foreign entities? Also that's trivially bypassable, just get someone to live in the house; it's used for habitation now.
But frankly ending CEQA and capricious zoning boards (and all the other legal authorities/mechanisms that NIMBYs use to delay/obstruct housing) is a far more robust method of killing off this sort of speculative purchasing, since the only reason all this speculative purchasing happens is because there's a gross undersupply of housing and thus prices are guaranteed to increase at staggering rates.
Why limit that to just foreign entities? Also that's trivially bypassable, just get someone to live in the house; it's used for habitation now.
But frankly ending CEQA and capricious zoning boards (and all the other legal authorities/mechanisms that NIMBYs use to delay/obstruct housing) is a far more robust method of killing off this sort of speculative purchasing, since the only reason all this speculative purchasing happens is because there's a gross undersupply of housing and thus prices are guaranteed to increase at staggering rates.