Hey Foreigners– Buy a House and get a Visa!

A bill is being introduced by 2 Senators today that would allow a foreigner to receive a Visa if they spend $500,000 or more on a home. Darn, are we going to take away the fun of bribing?

As part of an incentive to increase foreign spending in the U.S., Senators Charles Schumer (D., N.Y.) and Mike Lee (R., Utah) are proposing a way to prop up the housing market.  From what I am reading, the idea is not a new concept. Foreigners are currently allowed to enter the U.S. if they invest in new businesses.  Sounds like a decent idea, but feel free to weigh in on your thoughts.

To learn more, here is a good article Foreigners’ Sweetener: Buy House, Get a Visa by Nick Timiraos of WSJ.