In the United States, Senators Chuck Schumer and Mike Lee proposed a similar initiative in October to offer visas to foreigners who invest $500,000 cash in a residential property in the U.S. The homebuyer visa program would operate in addition to other immigration quotas, and have no cap.
Last year in the U.S., according to a report from the National Association of Realtors, the hottest cities for foreign property buyers were Miami and Phoenix, where foreign buyers represent 5.5 and 4.3 percent of purchasers, respectively. In Florida, more than a quarter of sales were made to foreign buyers. Over 60 percent of foreigners who bought homes did so in just seven states: Florida, Arizona, California, Texas, New York, Nevada, and Georgia.
"Over 60 percent of foreigners who bought homes did so in just seven states: Florida, Arizona, California, Texas, New York, Nevada, and Georgia.
Laundering drug money, I presume.
posted on 12/01/2012 8:39:54 PM PST
by DJ Taylor
(Once again our country is at war, and once again the Democrats have sided with our enemy.)
Not a bad way to escape the US when the dictatorship gets really nasty for rich old white guys here.
posted on 12/01/2012 9:07:49 PM PST
(Democrats delenda est; zero sera dans l'enfer bientot)
These Spanish homes could have a great deal of appeal and get taken quickly... if their yards face mecca.
posted on 12/01/2012 10:43:44 PM PST
(In favor of private rights and public happiness)
This proposal wouldn’t do much to offset the Spanish capital flight. Not many people want to live in Spain, nor do they want to risk re-appropriation of the houses bought in Spain by the socialist left.
posted on 12/02/2012 10:46:00 AM PST
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