Foreigners' Sweetener: Buy House, Get a Visa

The reeling housing market has come to this: To shore it up, two Senators are preparing to introduce a bipartisan bill Thursday that would give residence visas to foreigners who spend at least $500,000 to buy houses in the U.S.

The provision is part of a larger package of immigration measures, co-authored by Sens. Charles Schumer (D., N.Y.) and Mike Lee (R., Utah), designed to spur more foreign investment in the U.S.

online.wsj.com...

This stuff peaves me off to no end people are for sale,politicians are for sale and hey wanna get a visa just plop down 500k and you get your visa. Terrorist's ? Are you paying attention here? No questions asked.

What should really upset people is those who have lost their homes this is a slap in the face i think and Senator Charles Schummer Democrat of New York and Mike Lee Republican of Utah could use a dose of "justice".

Just added one more senator to my crap list.

reply to post by neo96


I like it. It's creative legislation that only allows rich foreigners in the US to further invest in this great nation. If the 500K is on hand (not loaned), I say give them a visa and a nice house.

I agree. This pisses me off.

Instead of letting the market fall to it's natural bottom and letting poorer people be able to afford a house they want to artificially pad the market with rich foreigners.

This is the stupidest thing I've ever seen.

Originally posted by projectvxn
I agree. This pisses me off.

Instead of letting the market fall to it's natural bottom and letting poorer people be able to afford a house they want to artificially pad the market with rich foreigners.

This is the stupidest thing I've ever seen.

If we get the money out of Washington this will stop.

Unfortunately that's never going to happen, so grab your ankles and brace yourself.

reply to post by Sunsetspawn


One of the best ways to do that is to switch to more local banks.

Give the smaller guys a chance to grow especially if they are practicing sound banking.

Gotta get fresh suckers in to screw.Thinking like a foreigner here's my plan. Obtain a loan to buy a nice big house/building to convert into slumlord apartments to house disenfranchised Americans who have lost their homes and preferably their jobs (so the government pay the rent and I don't have to waste time and money learn English to go and hound individual tennants for it).

Once I have one mini-slum going with guaranteed money coming in,I should be able to negociate the funds to repeat the process.I will live my American Dream upon a foundation of the broken dreams of Americans and I will perpetuate this crazy system until one day, my or my children's dream turns to a nightmare, and we too become backfill for the next dreamers footing.America is being hacked apart and the pieces auctioned off.Meet one of your new owners.

It's a vicious cycle.

Originally posted by projectvxn
I agree. This pisses me off.

Instead of letting the market fall to it's natural bottom and letting poorer people be able to afford a house they want to artificially pad the market with rich foreigners.

This is the stupidest thing I've ever seen.

I'll bet you a star that the DREAM Act is more stupid. But this is definitely up there. It cheapens the experiences of foreigners that come here and take the path of citizenship that has worked fine for the past century or so. Correct me if I'm wrong, but didn't your family get suckered into doing it the right way?

/TOA

reply to post by The Old American


Yep, we sure did.

The government's current message to my family and I is "If you followed the rules, you're an idiot."

And ditto on the dream act.

I guess I just lost a star

can you imagine these guys running for election on this premise? g-damned washington just keeps on doing whatever the hell they want.

reply to post by Jason88


I don't think bringing in the kind of people who have 1/2 a mil "in hand" without borrowing, is going to change much. They won't want to bust ass like the immigrants of yore, who came here poor, tired and huddled, but with an ambition to live their lives in freedom.

These will be the kind of wealthy creeps who will no doubt exploit 'down on their luck' Americans who have paid their dues.

The treatment of the middle class and small business here, speaks for itself.Neither are wanted. The middle class is being turned into a welfare class and the new shrunken middle class will have no affiliation to US culture or history. They will be the whipcracking slave drivers, we will be the slaves.