Why don't you just make housing affordable to Americans. Don't tell me construction is on the rise and that is good for Americans if everything else has us searching for some relief.
All they build is estate homes which will be foreclosed on because the poor family who inherited it can't afford to pay the inheritance tax and then the annual tax.
Homes large enough to rebuild into Barracks type housing like in Soviet Russia with yards that can be made suitable for mass parking.
Who will buy them up? My guess is the Multinational Corporations who will need living quarters for their indentured work force.
I wish citizens in America would look at this bull like the gigantic head game that it is.
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Lets see, Americans can't afford homes in their own land so in an effort to keep prices up visas will be given to weathy foreigners who spend 500K+ on realestate?????? This looks like one more scheme by politicians to screw your average American citizen out of the American dream. Visas will not lead to a green card and permenant residency...yeah right, B_ll Sh_t believe that believe anything. I've met too many people working on Green cards who started out working as undocumented aliens for me to believe that garbage.
The only foreigners who can afford 500K in realestate will be wealthy ones and believe me, if they want to figure out a way to get green cards they will hire the lawyers needed to make it possible. If they have 500K to spend on realestate that means they must have educations and then that means they will be taking what few decent paying jobs that are left from Americans who need jobs. And then since they have money they will be able to have kids who will automatically be American citizens since they are borne here and their kids can go to the best schoosl and universities to compete for jobs with the kids of American citizens. Oh and then let them buy rental property, they can buy a 250K house to live in and a $250K rental property that they can rent it out to the Americans who can't afford a house and the Americans can pay the rent and support the foreigner in their own land.
Hey politicians, should non-US citizens be able to buy US property??? The answer is not only no but h_ll no. If the foreigner comes from a country that will not sell property to Americans the answer is double h_ll no. When Americans are being foreclosed on the answer is triple h_ll no. This does not benefit the average American, this only benefits banks who have large portfolios of foreclosed homes that they would like to sell. I'm an American and I know what's good for me.
This seems like an okay idea, although I'm quite puzzled as to how you're "visiting" this country if you buy a half-million dollar house. I'm inclined to think it'd be better to give residency rather than encourage billionares to buy a summer home in America which sits empty while they're off in their home country, but with the economy in the sorry straights it is, I can believe this infuriating idea may be necessary to keep us afloat.
EDIT - What? How is this post "similar to spam"?
I think this is awful. I would like to see Americans do this in another country. In some countries you can not even buy property there if you weren't born there.
Bad idea, we don't need to sell America to foreigners. We've already given away our jobs which partially created this problem . How about more work on bringing our jobs back, and Americans will be able to start buying the homes that are available? (That is if the banks that tax payers bailed out, would start lending money!)
Drug dealers are buying big homes in upper priced neighborhoods and using them to distribute their drugs more easily. Is this what we want to happen? Someone needs to take a reality check and figure out how to create jobs here in America, and forget this reliance on part time residents. The government can't even keep up with illegals entering our country, how are they going to keep up with these part time home owners... STUPID idea!
Sounds UN-AMERICAN to me. So now our government leaders want to sell off more of the United States. Don't foreigners own enough of our country?
Do Shumer and Lee honestly believe that "The visas would not provide a path to a green card and permanent residency and would not allow the foreigners to work here. The proposal is part of a bill to streamline visa requirements for foreign visitors."
Not only would they live here indefinitely, but the American taxpayer will be footing the bill for them, i.e., food stamps, medicaid, etc., the same as it is now for many immigrants, legal and not, who live in this country. And those who do not want these "entitlements" will be taking a job from a U.S. citizen.
About Teresa Mears
Teresa Mears is a veteran journalist who has been interested in houses since her father took her to tax auctions to carry the cash at age 10. A former editor of The Miami Herald's Home & Design section, she lives in South Florida where, in addition to writing about real estate, she publishes Miami on the Cheap to help her neighbors adjust to the loss of 60% of their property value.