Should Foreigners Be Able To Buy A Visa?

Should Foreigners Be Able To Buy A Visa?

A couple of senators (one from each side) have come up with a rather interesting idea. Since we have so much bargain real estate that needs to be sopped up and since foreigners like to buy bargains in the US why not give them an additional incentive to buy more of our troubled real estate and throw in a visa with any real estate purchase over $500K. Just to further clarify, it's a residence visa and not a work visa and the owner has to live there at least 6 months out of the year.

You have to admit it makes a certain amount of sense as long as Al Qaeda isn't the one behind the purchases. After all, if you are going to spend $500K on a home shouldn't you be allowed to live in it? But I'm not quite clear on why they care how long the owner lives there. Maybe they want to make sure they spend more money with us.

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  • So what bothers objectors about this more, that the plan won't work or help much, or the word foreigners?

    I have no problem with the concept in principle, the English and the Japanese already have notablle investments on US soil. I'm just not convinced it will help the real estate market problems.

  • In reply to darkangel:

    I'm not sure how all the visa rules work but if you want to buy a place here but can't actually live in it because of visa rules that would definitely dampen your interest. The article I link to gives some pretty impressive stats on just how much foreigners are buying.

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    Gary Lucido

    After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.

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