Five-Year Ban on Foreign Purchase of All U.S. Real Estate.
This bill establishes a temporary, five-year prohibition on foreign individuals, governments, and entities from purchasing any public or private real estate in the United States. The goal is to curb rising housing and land costs, making it easier for American citizens to afford homes and protecting strategic farmland from foreign influence. The law aims to directly impact the real estate market by reducing competition from international investors.
Key points
Imposes a 5-year ban preventing foreign persons (including companies and governments) from buying any real estate in the United States.
Aims to stabilize or lower the cost of housing and farmland, which has been driven up by increased foreign investment.
The ban covers all types of property, including agricultural land, to protect national security and sovereignty.
Requires a government report detailing foreign ownership history and recommending ways to prioritize US citizens in real estate purchases.
Expired
Additional Information
Print number: 118_HR_840
Sponsor: Rep. Miller, Mary E. [R-IL-15]
Process start date: 2023-02-06