FT Alphaville » Visas-for-houses plan unveiled

Visas-for-houses plan unveiled

Posted by Joseph Cotterill on Oct 20 10:35.

A bill will be introduced to the US Senate this week to give visas to foreigners who have spent $500,000 or more on buying US houses, according to the WSJ. Senators Chuck Schumer and Mike Lee have included the proposal in a wider package of immigration measures designed to spur foreign investment into the US. Foreign interest now accounts for around 5 per cent of home sales in the Miami and Phoenix markets, reflecting foreigners’ growing clout in a housing sector pulled down by excess inventory.

This entry was posted by Joseph Cotterill on Thursday, October 20th, 2011 at 10:35 and is featured in The 6am Cut New York (20 Oct 2011) . Tagged with US housing.

FT Alphaville » Visas-for-houses plan unveiled