Buy a house at US get residence visa!

[Ak1980]

http://bottomline.msnbc.msn.com/_new...nators-propose

Two Senators have come up with a plan to boost the moribund U.S. housing market: Give residence visas to foreigners who spend at least $500,000 to buy a home in the U.S.

Good move from US or not?

In my view as foreigner (non us) it's good move, it help US economy moving again by injecting pure cash, also if someone have that kind of money usually he/she is rich and have no need for US welfare program, if he become citizen one day. But somehow the comment in that site largely negative, lot's of US citizen don't like that idea.

Will anyone use this chance if they have the money and this plan become reality? I suspect a lot of china rich people will use this chance

[Menelik_I]

http://bottomline.msnbc.msn.com/_new...nators-propose
Good move from US or not?

In my view as foreigner (non us) it's good move, it help US economy moving again by injecting pure cash, also if someone have that kind of money usually he/she is rich and have no need for US welfare program, if he become citizen one day. But somehow the comment in that site largely negative, lot's of US citizen don't like that idea.

Will anyone use this chance if they have the money and this plan become reality? I suspect a lot of china rich people will use this chance

All those rich people who are going to buy these house are going to vote Republican ... because give the house to Mexicans, they at least vote democrat

[I WUB PUGS]

Eh, I don't know why Americans would be upset. This has been happening for years. Huge swaths of land are owned by foreign farming companies, and the Japanese basically own all of Hawaii.

[Phier]

Might sell a few homes but the effect would be minimal on the over all market.

[MathiasOfAthens]

Might sell a few homes but the effect would be minimal on the over all market.

I agree with Phier. The intentions are good but the effects will be minimal. Say you bought all the houses on the market in one particular state... you might see some change. But with the houses spread all across the country buying a few here and there wont change anything.

[I WUB PUGS]

Hmm the market has edged into the green now, including the doo doo homebuilding stock I'm trying to get a gain out of. Perhaps this is good for me in the short term.

[Sphere]

Good thing Congress doesn't have any important issues facing the country these days, else something this silly might reflect poorly on their reputation.

[Dr Zoidberg]

In the current economic climate, I can't see anybody with the ability to drop 500K on a house needing/wanting to move to the US. They're likely to be already well established where ever they already are.

[Thorn777]

In the current economic climate, I can't see anybody with the ability to drop 500K on a house needing/wanting to move to the US. They're likely to be already well established where ever they already are.

Greeks

[I WUB PUGS]

500k in most parts of the US will get you a couple hundred acres and a huge house. Can you buy 300 acres and a country home within driving distance of a major city in Europe?

[Dr Zoidberg]

500k in most parts of the US will get you a couple hundred acres and a huge house. Can you buy 300 acres and a country home within driving distance of a major city in Europe?

I don't know. Not from there.

My point is not the size of the house. It's about the fact that if you can afford $500 grand just like that, then you're likely to be very well established where you are currently located - nice house, solid employment, etc.

Why risk all that just for a move to the US?

[Mr. Scott]

I don't know. Not from there.

My point is not the size of the house. It's about the fact that if you can afford $500 grand just like that, then you're likely to be very well established where you are currently located - nice house, solid employment, etc.

Why risk all that just for a move to the US?

Idk lots of reasons. About a third of my Chinese friends have wealthy parents from Shanghai, Taipei, or Hong Kong who moved here for a better all around lifestyle. Around my area we also have a lot of wealthy Persian immigrants (self-explanatory), British immigrants, lotta Korean immigrants, and more recently, some Russians/Ukrainians.

[Caesar Germanico]

Can you buy 300 acres and a country home within driving distance of a major city in Europe?

Western Europe?Impossible.

[Phier]

500k in most parts of the US will get you a couple hundred acres and a huge house.

500k gets you a kinda big house with a small yard around Chicago.

[I WUB PUGS]

500k gets you a kinda big house with a small yard around Chicago.

Yes but that is why Chicago will be the next Detroit since they've hiked the income taxes so high. I know plenty of people from Chicago that are moving to Indiana and commuting. Gary is having a huge boom because of it.

500k will get you a shack with no yard in most parts of San Diego County..... unless you want to live an hour+ away from the city and the beach. Then you can spend about 250k for a decent house in North County.

[MathiasOfAthens]

500k gets you a kinda big house with a small yard around Chicago.

It could also get you a really nice apartment.

http://chicago.condo.com/Condo-For-S...throom_6042345

For 319k

Or this for 415K

http://chicago.condo.com/Condo-For-S...hroom_35836876

[Stario]

I saw decent sized properties; about twice the size of what you can get here in Western Sydney-the ghetto of Sydney Australia, at almost identical price around Sacramento-San Francisco area when the recession first hit. Unfortunately, at the time I was told I needed to have at least a green card to buy. Well might look into it again I guess; with the US economy down the "dunny" it can only go up from here right?

Although, in the long run this might not be so great for Americans. With the housing market being flooded by foreigners it will be much harder for future generations to get into the housing market. I'd be real surprised if such a bill was to pass.

[Ahlerich]

500k in most parts of the US will get you a couple hundred acres and a huge house. Can you buy 300 acres and a country home within driving distance of a major city in Europe?

no but there you dont have american neighbours

[The Dude]

500k in most parts of the US will get you a couple hundred acres and a huge house. Can you buy 300 acres and a country home within driving distance of a major city in Europe?

Maybe in Eastern Europe, but you're right. Generally, no. House prices here are through the roof as well. 500k in the US means about 400k to 420k here, and around Amsterdam/Rotterdam there's no way that buys you anything more than a sizeable duplex house. If you want to live generously and own more than two digits of acres you're gonna be shelling out 500k+ eu very, very quickly.

Just browse through this: http://www.funda.nl/koop/amsterdam/+15km/400000-450000/

Taking that same money and heading over to Iowa or wherever to spend it on five times the amount of property is not a bad deal. Then again, I wouldn't move to the US right now for the life of me since it's not a country developing in a direction that I care for. Europe isn't perfect, but yeah.

[Halbard]

500k in most parts of the US will get you a couple hundred acres and a huge house. Can you buy 300 acres and a country home within driving distance of a major city in Europe?

Define "driving distance" and "major city".

In Portugal with that kind of money you can buy a nice house in Alentejo, along with a good patch of land, only 150-200km's to Lisbon and 400 to Madrid. Since you have freeways, it's a 1 and a half hour drive to Lisbon and 3 or 4 to Madrid.