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CRF Blog » Blog Archive » Buy a pricey home, get a U.S. Visa?

CRF Blog

Buy a pricey home, get a U.S. Visa?

by Bill Hayes

In Bill would encourage foreigners to buy U.S. homes, the Los Angeles Times reports on a U.S. Senate bill proposing granting visas to foreigners who buy homes in cash.

American consumers and the federal government haven’t been able to bail out the sinking U.S. real estate market. Now wealthy Chinese, Canadians and other foreign buyers could get their chance.

Two U.S. senators have introduced a bill that would allow foreigners who spend at least $500,000 on residential property to obtain visas allowing them to live in the United States. [more]