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Ban on Foreign Land Purchases in US: Protecting Real Estate Market

This bill proposes a five-year ban on foreign persons and entities purchasing real estate in the U.S. The aim is to lower housing prices, make it easier for Americans to buy homes, and protect strategic lands, including farmland, from foreign acquisition. Citizens may experience relief in the housing market and increased home availability.
Key points
Five-year prohibition on foreign persons and entities purchasing U.S. real estate.
Aims to lower housing prices and make homeownership more accessible for Americans.
Protects strategic lands, including farmland, from foreign acquisition.
Requires a government report on the history and extent of foreign real estate ownership in the U.S.
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Status:
Expired
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Additional Information
Print number: 117_HR_6383
Sponsor: Rep. Gohmert, Louie [R-TX-1]
Process start date: 2022-01-12