Posted on 10/20/2011 9:00:46 AM PDT by World'sGoneInsane
Senator Chuck Schumer is one of two senators introducing a bipartisan bill aimed at improving the housing market by offering an incentive to foreign buyers, the Wall Street Journal report. He and Sen. Mike Lee of Utah want to offer residence visas to any foreigner that spends at least $500,000 on residential real estate in the United States. The measure compliments existing rules that offer visas to foreign investors that create jobs in America.
(Excerpt) Read more at therealdeal.com ...
“I am missing something? this sounds like something conservatives could get behind.”
This will be the biggest money laundering op in history. Every third world mafia will get in on this if it goes through.
UGH!!!! These guys will literally do anything and everything to avoid SMART economic reforms.
I'm sure he is a good guy and the staunch conservative which his constituents thought they were electing. But his inexperience is showing here and he needs to think it through.
Citizenship should be earned not bought.
What’s he up to? Does somebody then get to bring the entire family?
How does this help Schumer’s Leninist dream? Please weigh in.
This is one more thing we have to stop. I hope we aren’t too late in 2012 when we take the White House and the Senate.
“well this would certainly be legal immigration... and anyone who can afford a $500,000 home probably isn’t going to be asking for government handouts like welfare...”
-until they default.
Bump
This would attract a lot of low level corrupt officials and their relatives from the third world.
Plus..they would leverage that visa to bring in others who do require support. Bad idea..both parties are pandering to immigrant communities who want to easily bring more relatives to the US in another form of chain migration.
People should gain entrance on their merit and not their wealth or relatives..period.
It's $500,000 cash down, not a mortgage on a $500,000 house.
I am assuming only 1 family would receive visa’s for each house purchased. Chances are these are rich people, who will bring much needed foreign currency exchange with them (1/2 million for openers).
They’re really desperate to keep the housing bubble going. I wonder if this will be enough to save housing prices, even if it passes.
Is Chuck the Schmuck is for it, I’m against it - period. No matter how it may look on the surface you can bet his aim is to destroy the USA with it.
$500,000 here would buy a 30 acre farm with modest house.That 30 acres could hold many houses as in bring the whole family.
“Chances are these are rich people, who will bring much needed foreign currency exchange with them (1/2 million for openers).”
500k is not a lot of money these days. Real wealthy people have no need for this. What this would do is bring a lot of dirty money and “middle class” folks wanting visas for their entire family. What a perfect program to clean up drug money, embezzled foreign aid, undeclared income, etc.
People wanting to live in Switzerland for a long time had to buy in. I don’t know if this has changed or not.
One had to shop the towns and find an affordable one. Some cost $20,000 or $30,000 or $50,000. That was to pay for the infrastructure already in place.
This seems to operate on a similar theme. I assume that the visa would only be offered to the one purchasing the property and any others who wanted to live there would have to get their own visas. If they didn’t, perhaps it would be a handy roundup area to surveil for illegals.
People wanting to live in Switzerland for a long time had to buy in. I don’t know if this has changed or not.
One had to shop the towns and find an affordable one. Some cost $20,000 or $30,000 or $50,000. That was to pay for the infrastructure already in place.
This seems to operate on a similar theme. I assume that the visa would only be offered to the one purchasing the property and any others who wanted to live there would have to get their own visas. If they didn’t, perhaps it would be a handy roundup area to surveil for illegals.
This cheapens and dilutes your American citizenship. This cheapens our war efforts and disgraces the Americans who fought in them. The right to reside in America should not be cheapened like this. This residence visa will become a work visa (Green card)
Senator Mike Lee of Utah--you are a moron
Senator Schumer--- we expect this garbage from him
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