The San Diego County Board of Supervisors voted 4-1 Tuesday to reject a proposal to have the county advocate for “statewide restrictions or bans on foreign investment in entry-level and single-family housing, particularly near military installations and critical infrastructure.”

Supervisor Jim Desmond, who authored the proposal and was the sole yes vote, said the goal was to prioritize local homeownership and give San Diegans a “fair shot” at buying a home.

According to Desmond’s office, “more than $56 billion in U.S. real estate was purchased by foreign investors last year, with 15% of those sales in California. In many cases, foreign buyers are paying in cash, which puts local residents who rely on traditional mortgages at a disadvantage.”

He said his policy would focus on large forei

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