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Buy a home, get a US visa, Senators propose
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| Contributor | RP |
| Last Edited | RP Oct 20, 2011 12:39pm |
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| Category | Proposed Legislation |
| Author | Roland Jones |
| News Date | Thursday, October 20, 2011 06:00:00 PM UTC0:0 |
| Description | Two Senators have come up with a plan to boost the moribund U.S. housing market: Give residence visas to foreigners who spend at least $500,000 to buy a home in the U.S.
A report in The Wall Street Journal says Sens. Charles Schumer (D., N.Y.) and Mike Lee (R., Utah) are preparing to introduce the idea as part of a larger package of immigration measures. The idea is to help make up for the lack of American buyers in the housing market, according to the report.
The Journal notes that foreigners now account for a growing share of the homes purchased in South Florida, Southern California, Arizona and other hard-hit housing markets. |
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