Amping up rhetoric against China, Gov. Greg Abbott and other Texas officials are threatening to bar Chinese nationals — as well as those from Iran, North Korea and Russia — from buying property in Texas.
— like Abbott, potential GOP presidential candidates in 2024 — have also called this year for barring some property purchases by Chinese entities.." As an American go try to buy land near a Chinese military base and see how it works out for you."
She cited the purchase in 2021 of more than 130,000 acres in South Texas by a Chinese firm as part ofKolkhorst said on Friday the bill "will make crystal clear that the prohibitions do not apply to United States citizens and lawful permanent residents,"At a press conference Monday, state Rep. Gene Wu, a Democrat from Houston who was born in China,"This is the house my parents bought when we were on our way to citizenship," he said.
More than half of the foreign buyers have a U.S. green card, signaling they're lawful permanent residents.International homebuyers spent $613 million on properties in the greater Austin area from April 2021 to March 2022 — or 3% of the residential sales' total value during the period. The trade association Texas Realtors is "monitoring this issue closely," spokesperson David Gibbs tells Axios.
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