Lands, rents and ownerships

During break at my German class tonight, my teacher said
that foreigners renting and owning lands in the Philippines through
their Filipino wives, bring up the prices of rent and lands. Because
of this, poorer Filipinos could hardly pay rents and may in time be
left with no lots to buy. And it doesn't matter if these foreigners
happened to be "former" Filipinos or those with Dual Citizenships.

My classmates Tranqs said that foreigners with one-hundred
percent ownership in business here, like Jollibee bring what it has
"sucked" from the Filipinos and invest abroad (China).

I contested that foreigners are only allowed hundred percent
ownership in businesses that are capital-intensive. I don't think
fastfoods and restaurants are under this category. And whatever
Jollibee is doing, it is still a "Filipino" company. Diversifying is
a legitimate business strategy.

I argued with my teacher that with or without foreigners,
the prices of lands and rents are bound to go up because of
commercialization and economic development. I also argued that even
if these lands are left alone, it doesn't mean that "poor" Filipinos
can or will buy them.

Whatever the argument is, the fact is that the economy moves
when people buy lands to develop, maintain, commercialize, pay taxes,
etc.

Dual Citizenship is not to be cursed. With or without this
law, former Filipinos who are born in the Philippines can own lands.
Anyway, that's what I gather from one of my researches some time last
year.

I don't love foreigners. But I don't like bias arguments
that have little facts to support them.

sayong
11-23-06 11:45pm