County rejects supporting statewide ban on foreign investment in homes

By Paul Levikow

Photo, left: Supervisor Jim Desmond sought to restrict foreign investors from buying homes and driving up prices.

October 23, 2025 (San Diego) – The San Diego County Board of Supervisors this week rejected a proposal by Supervisor Jim Desmond to support statewide bans or restrictions on foreign investment in entry-level and single-family housing, particularly when located near sensitive military installations and other critical infrastructure.

Supervisor Desmond was the lone yes vote in a 4-1 decision to reject it.

“My colleagues voted against my plan to protect the American dream for young families in San Diego County. With median home prices at $937,000 and 70% of families priced out, this vote is a slap in the face to the next generation,” Desmond posted on X. “I’ll keep fighting to make sure foreign investors and big corporations don’t get priority over San Diegans. We should be putting our people first — not turning our backs on them.”

Specifically, Desmond requested that the Board direct the Chief Administrative Officer to lobby the State of California, by adding to the County’s legislative agenda support for statewide bans or restrictions on foreign investment. Those measures would have included a full ban within 10 miles of military installations/facilities and critical infrastructure such as power, water and other vital utilities; a full ban on sanctioned foreign entities and/or foreign adversaries of the United States of America; and establish purchase restrictions, such as limiting the number of single-family residential units a foreign investor may hold at a time.

Florida, Texas and Georgia have passed laws restricting or prohibiting foreign real estate purchases, typically under certain conditions such as when located near military sites. In these instances, the threat goes beyond displacing locals from homeownership opportunities - these measures are also meant to protect sensitive national security assets from intelligence gathering, espionage and other maligned actions by our nation’s adversaries, according to Desmond.

Board Chair Terra Lawson-Remer said she couldn't support the proposal, but would welcome collaboration from her board colleagues on improving first-time home ownership opportunities.

“There's a worthy discussion on how we level the playing field, but not by excluding certain people from certain countries of origin,” Lawson-Remer said.

The San Diego-based Pacific Southwest Association of Realtors (PSAR) issued a statement to East County Magazine after Tuesday’s Board vote.

“With recent research from CAR (California Association of Realtors) and NAR (National Association of Realtors indicating that foreign purchases account for about 2.5% of California's sales transactions, and that over half of those come from foreign buyers residing in the U.S. on visas or as recent immigrants, PSAR encourages additional conversations on promoting access to homeownership that focus on facilitating the development of non-subsidized entry level purchase properties. PSAR strongly supports ensuring access to homeownership.” the statement read. “Homeownership provides the highest level of housing stability and allows families to build equity and intergenerational wealth.”

PSAR President Yvonne Cromer said “home ownership is so important. We are fighting for fair housing for all. We have made huge strides and we would not want to go backward.”

Cromer said that PSAR believes in private property rights and that the organization is in support of homeowners.

“We want to steer away from discrimination and have fair housing,” Cromer said. “Our biggest challenge is housing supply, streamlining the building process, and reforming defect laws.”

She said there is not a need for a reform policy such as the one that was rejected by the Board of Supervisors. “I love the fact that they are paying attention and focusing on issues.”