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Buy a Home, get a Visa

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  • Buy a Home, get a Visa

    A proposed new program, foreign buyers who spend at least $500,000 on real estate and at least $250,000 of that on a home, will get resident visas for their family.
    Foreign Buyers For U.S. Homes | On Point with Tom Ashbrook

    Pretty good idea, have all that money that has gone overseas come back to the US, buy homes, and hire Americans as servants....

  • #2
    Re: Buy a Home, get a Visa

    Most countries have this policy in place and have had it for quite some time. I don't know what your issue is with it.

    Oh... you don't like being thought on as a "servant"

    Ahhh... I see...

    מה מכילות החדשות?


    • #3
      Re: Buy a Home, get a Visa

      Originally posted by goober View Post
      A proposed new program, foreign buyers who spend at least $500,000 on real estate and at least $250,000 of that on a home, will get resident visas for their family.
      Foreign Buyers For U.S. Homes | On Point with Tom Ashbrook

      Pretty good idea, have all that money that has gone overseas come back to the US, buy homes, and hire Americans as servants....
      Pretty stupid idea. The USA ought to join the countries that do not allow foreign ownership of real estate.

      מה מכילות החדשות?


      • #4
        Re: Buy a Home, get a Visa

        Originally posted by chassisman View Post
        Pretty stupid idea. The USA ought to join the countries that do not allow foreign ownership of real estate.
        I must disagree...

        It's not like they can take it apart and carry it home. Allow foreign ownership of real estate... look at how well it worked out for those Japanese fellows that bought Rockefeller Plaza back in the '90's.

        BEHIND THE FALL OF ROCKEFELLER CENTER THE INSIDE STORY OF WHY BAD BLOOD SEPARATES THE ROCKEFELLERS AND MITSUBISHI -- AND TAINTS THE NEXT ROUND OF BITTER FIGHTING. - July 10, 1995

        מה מכילות החדשות?


        • #5
          Re: Buy a Home, get a Visa

          This is interesting.

          A bipartisan (and by bipartisan I mean a big name Democrat is very much involved) bill that will allow the banks that own millions of foreclosed homes to make an end-run around the impoverished American people and recoup their losses by selling these properties to foreign investors.

          Not that the banks couldn't (and aren't) already selling those homes to foreign investors, but you've got to love how they're sweetening the pot.

          Those Democrats! Always looking out for the little guy.

          מה מכילות החדשות?


          • #6
            Re: Buy a Home, get a Visa

            I don't get it. Is the opposition over that those buying homes would be wealthy and you just hate wealthy people?

            If tossing in a residential visa ups foreign investment and actually ties them to the community, isn't that a good thing?

            מה מכילות החדשות?


            • #7
              Re: Buy a Home, get a Visa

              We sell everything else to off shore interests. We might as well sell higher priced residential property as well.

              מה מכילות החדשות?


              • #8
                Re: Buy a Home, get a Visa

                Originally posted by soot View Post
                This is interesting.

                A bipartisan (and by bipartisan I mean a big name Democrat is very much involved) bill that will allow the banks that own millions of foreclosed homes to make an end-run around the impoverished American people and recoup their losses by selling these properties to foreign investors.

                Not that the banks couldn't (and aren't) already selling those homes to foreign investors, but you've got to love how they're sweetening the pot.

                Those Democrats! Always looking out for the little guy.
                Well, frankly, there is something to be said for getting those properties out of inventory and even more to be said for getting them out at a premium.

                The idea is that a foreigner who comes here and owns property is more likely to contribute more to the society than one who simply comes here, works and sends most of his pay back south to support some other country. It's part of the "free trade" thing that so many people are up in arms about even, apparently, when WE are getting a benefit.

                If Americans are concerned that the Chinese are going to buy up all of the land and kick them out then I suggest that they get off their asses and do something about it instead of waiting for some political knight in shining armor to save the day for them.

                מה מכילות החדשות?


                • #9
                  Re: Buy a Home, get a Visa

                  I wonder if they can get a govt backed mortgage to buy the house. Then get their visa, default on the loan, and get to stay?

                  מה מכילות החדשות?


                  • #10
                    Re: Buy a Home, get a Visa

                    Originally posted by jviehe View Post
                    I wonder if they can get a govt backed mortgage to buy the house. Then get their visa, default on the loan, and get to stay?
                    You have to pay the entire thing upfront with no mortgages.

                    מה מכילות החדשות?


                    • #11
                      Re: Buy a Home, get a Visa

                      Originally posted by lutherf View Post
                      Well, frankly, there is something to be said for getting those properties out of inventory and even more to be said for getting them out at a premium.
                      Sure, if you're a bank or a property owner sitting next to a vacant home or a municipality looking to collect taxes or any other number of folks.

                      But if you're one of the millions of Americans who was just recently kicked out of his home and you're now watching all these homes sold off to rich, (ostensibly) educated foreigners who will then come here and take the high paying jobs that Americans are complaining there aren't enough, of this situation might not have the same silver lining.

                      And I'm really only interested in this situation so far as the irony of it is concerned wherein the Democrats (or at least one major Democrat, we'll see how the rest shake out on it) is complicit in screwing over a great many middle and lower class Americans.

                      I'm not ashamed to say that I'm much more concerned with whether or not the Best Buy near my house is going to have a copy of Battlefield 3 in stock when I stop by tonight than I am with the fate of any of those millions of Americas who were kicked out of their homes.

                      But I'm honest like that even if, perhaps, a bit crass.

                      I don't hold a plackard claiming that I support Joe Everyman in the one hand while penning legislation that provides near-zero benefit to Joe Everyman with the other and then talk sideways out of my face by blaming Republicans for the fate of Joe Everyman.

                      That's why I said it was interesting.

                      Personally I think this is a good move for a number of reasons, several of which you've mentioned.

                      But selling working class Americans' future prosperity to JPMorgan Chase, Haliburton, Blackwater, and/or the Chinese is "something the evil Republicans do".

                      When a Democrat has his fingerprints all over it, I think that's something that deserves to have attention called to it even if only for purposes of discussion here on USPOL where there have probably been three new topics started discussing the evil of the Republican party while I crafted this response.

                      מה מכילות החדשות?


                      • #12
                        Re: Buy a Home, get a Visa

                        If they only have to spend half of the $500,000 on their own residence, then that will put the other half of their money in direct competition with people like me who buy cheaper properties, fix them up and rent them out.

                        Admittedly,I haven't read the bill yet, but I don't like the sound of this. I have enough competition already from mega-real estate companies who just buy houses, tear them down and sit on the property for years without the Federal government enticing foreigners to move here and underbid me at auctions.

                        מה מכילות החדשות?


                        • #13
                          Re: Buy a Home, get a Visa

                          Originally posted by MeadHallPirate
                          ahoy Captain Hairball!

                          matey, if it be good fer them banks, then this be "pro-business" legistlation, aye?

                          - MeadHallPirate
                          Nay Pirate,

                          Banks aren't the only businesses.

                          YAARRRR!

                          *Hairball jabs his cutlass through Schumer & Lee*

                          -Capt'n Hairball

                          מה מכילות החדשות?


                          • #14
                            Re: Buy a Home, get a Visa

                            Originally posted by goober View Post
                            A proposed new program, foreign buyers who spend at least $500,000 on real estate and at least $250,000 of that on a home, will get resident visas for their family.
                            Foreign Buyers For U.S. Homes | On Point with Tom Ashbrook

                            Pretty good idea, have all that money that has gone overseas come back to the US, buy homes, and hire Americans as servants....
                            I don't see a problem with this. Looks like there actually is something we can have bipartisan support for. Of course, I haven't researched it but it looks good on the face of it.

                            מה מכילות החדשות?


                            • #15
                              Re: Buy a Home, get a Visa

                              There is much here on first impression I like.

                              By reports, these foreign homeowners would get tourist visas, not work visas. They have to buy the homes in full, and therefore there are no foreclosures and excess inventory can be divested. You would also be bringing in wealthy semi-resident nonworking tourists--such as trust fund frolickers and retired rich people--who have the big time cash and credit to spend in the economy when here and get interested even more in investing in thing here, etc. Hell, it can even create jobs given these kind of these 'holiday homes' require servants, groundskeepers, etc, to maintain the property when absent and iven their size and the situation of the owners (old and retired or not a 'jack of all handyman trades' etc).

                              My eye, however, will be on those with abuse on their minds as well as people not thinking of unintended consequences. It should not, IMO, be done where it defeats Obama's plans for Americans to refinance their homes. For a foreclosed home who cannot ever really pay for them, then I'm okay with that. I want an assurance that other requirements such as being of good character are shown, and that those with shady purposes won't be abusing this programme as a form of shelter. we don't need dope and underworld wealth involved for example. Then there are other types of shady characters who could see this for abusive purposes. IMO, we already have a problem with that concerning the E-2 visa programme such as with shady characters like David Drumm of the Anglo Irish Bank fraud and fiasco who is IMO misusing that visa to hide in the US and abuse the US bankruptcy proceedings from alleged fraudulent conduct and financial acquisition. Here's more info about this character I'm citing as an example:

                              Charlie Bird tracks down Anglo Irish bank executive in USA - YouTube
                              Calls to revoke disgraced banker David Drumm's US visa
                              Anglo Irish Bank hidden loans controversy - Wikipedia, the free encyclopedia

                              Overall, I like the idea. I just want to see the details and discussion about who and who not and what and what not will be allowed.

                              מה מכילות החדשות?

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