If you are not a resident of Canada but want to buy a piece of real estate in British Columbia or Ontario you must pay a tax of 20% of the purchase price. The tax was implemented to discourage foreign buyers who have driven up demand.
That is not the situation in the United States but that kind of tax should be implanted. Los Angeles area Southern Regional Association of Realtors, Inc. published an article in the Los Angeles Times Advertising Supplement on Saturday August 6, 2022 reporting that sales to foreign buyers is up 8.5%. International buyers purchased $59 billion worth of U.S. residential properties from April 2021 to March 2022.
In the Los Angeles area San Gabriel Valley is a well known area where Chinese buyers have bought homes where they do not reside.
Forbes magazine reports July 19, 2022. Anyone who bought a home – or tried to – over the past couple of years knows that it was rip-roaringly competitive, with bidding wars and all-cash deals. But it actually could have been worse. One group all but disappeared from the market during the pandemic: foreign buyers with mega millions. But now foreign real estate investments are slowly coming back, according to a new survey from the National Association of Realtors.
Ensuring affordable housing for all Americans is not on the agenda in Congress but it should be.
Coast Contact 
I am aware of the flood of foreign buyers gobbling up U.S., real estate at a frantic pace. It has been going on for quite awhile now. My idea about it all is this: “They will never need to worry about conquering us as long as we are for sale.”