@
oldguy73 You have my sympathies, and I am a foreigner!
The only answer to that massive land ownership is to ban the sale of land abroad, and very heavily taxed on returns on that already owned; but would that be feasible or even desirable under US law and political ideology?
Could you ensure that all management of the land and its use is by a registered US company with US-national and resident directors, using a US bank only, answerable to all US tax, enviromental and employment laws; and that returns on its use or sale to other overseas buyers are taxed at such high rates the "investment" is no longer attractive.
Not sales to bona-fide American owners. Sales to your own buyers would still be taxed by whatever you may have as equivalent to the UK's Corporation Tax; but sufficiently favourably to encourage both parties to return the land to owners within your own nation.
We've a slightly similar problem in the UK with wealthy foreigners buying property, mainly very expensive homes in London and elsewhere; and there is considerable suspicion that at least some of these "investments" are money-laundering that no-one seems able or willing to stop once and for all.
The only real answer short of nationalising land, which I suppose would be anathema in the US and probably unpopular in the UK, is a complete ban on "exporting" land. So while a foreigner might be allowed to buy a home as own residence in the country, and to sell or bequeath it, any future buyer could not sell it for redevelopment to any but a registered company in its own country. He could certainly not buy a plot of land for development; only an existing building on it and only for that building's primary use.
