Print
EmailHomes ‘made in the USA’ for home buyers who weren’t
Senate plan would give visas to foreigners who buy American homes
A new bipartisan plan in the Senate to jumpstart the housing market would grant visas to foreigners who buy American homes, according to the New York Times.
Senators Charles E. Schumer, D-N.Y., and Mike Lee, R-Utah, proposed the measure Thursday. The provision, which comes out of a bill to bolster foreign investment in the United States economy, offers foreigners a three-year, residential visa if they invest at least $500,000 into the housing market and live in a home they have bought for at least 180 days each year.
Foreign buyers would have to pay for the homes with cash, not mortgages, as well as pay taxes. With the exception of earning income by leasing properties they have purchased, these visa holders will have to apply for a work visa to work in the United States, which Mr. Schumer said would prevent them from taking jobs away from Americans. The visa would not grant them citizenship or allow them to vote.
To read the blog, click here.
More like this
- 70 Percent of Americans Surveyed Tell Fannie Mae It's a Good Time To Buy a Home
- Obama’s job-creation bill includes $15 billion for rehabilitation of vacant, foreclosed homes
- Federal housing scorecard: Housing market recovery still fragile
- Fannie Mae tests foreclosure-prevention plan in Florida
- U.S. home prices rise in October
Comments on: "Homes ‘made in the USA’ for home buyers who weren’t"
RELATED ARTICLES
Sustained KBI score reflects continued optimism heading into summer.
The American Architectural Manufacturers Association (AAMA) announced the release of an interim procedural guide that will provide a documented, optional process to extend...
Search Our Buyer's Guide
Reference Library
Professional Remodeler’s annual Market Leaders list, which identifies the top...
With demand for custom design, remodeling, and renovations at its highest level since 2005, ...
Normandy Remodeling converts confined kitchen into sprawling galley.
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
Each year, the National Kitchen and Bath Association surveys its members to identify the latest...
