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.
Why offer half a million dollars for citizenship papers, when any Mexican worth his salt can sneak across the border by night, have phony papers by the end of the week, and eventually get himself an amnesty green card.
Schumer’s an idiot and grotesque poseur, of course, as everyone knows; but is he really so stupid that he doesn’t realize that no one but another fool would pay half a million for something that any Mexican can get for free?
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