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Are Rich Foreigners The Answer To America's Housing Crash?

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http://www.telegraph.co.uk/finance/comment/8850928/Are-rich-foreigners-the-answer-to-Americas-housing-crash.html

That half a million dollars, according to Schumer, one of New York's two Democratic Senators, could be part of the answer to the country's housing crash. Schumer and Mike Lee, a Republican Senator from Utah, are trying to drum up support for legislation that will entice foreigners to invest €359,000, C$508,000, 78m yen or 3.1m yuan in US residential real estate. And the sweetener: a visa to live here as long as you own the property. Is it starting to look attractive? It might be to those who don't subscribe to the thesis that America's best days are behind it.

Until you read the small print. It has to be a cash purchase, you've got to live in the property for 180 days a year, it's not a staging post on the path to citizenship and the visa won't allow you to work in the US. That, of course, would stymie another central aim of US politicians, as the senator admits. "The bill [proposal] does not limit people from being productive," said Schumer. "It simply prevents them from coming here and taking jobs that would otherwise go to Americans." Schumer wants your money, not you.

Surely are rich foreigners the answer for Americas insolvent banks to prop up house prices?

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No, they're not the answer.

We discussed this a few days ago (do keep up).

If you're loaded you have always been able to get a visa for the US easily. Just make sure you have enough to cover your medical bills.

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http://www.telegraph.co.uk/finance/comment/8850928/Are-rich-foreigners-the-answer-to-Americas-housing-crash.html

Surely are rich foreigners the answer for Americas insolvent banks to prop up house prices?

As has been pointed out in the previous thread on this subject, you can already do this with commercial property (or a business). This is only going to be of interest to retirees, which is a good market. Certainly it puts Spain to shame because you can buy four times the house in the US rather than there.

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As has been pointed out in the previous thread on this subject, you can already do this with commercial property (or a business). This is only going to be of interest to retirees, which is a good market. Certainly it puts Spain to shame because you can buy four times the house in the US rather than there.

Now Peter, what do most old people have in common apart from a love of Werther's Originals?

Yup, you got it in one, they need lot's of medical care, medication, operations, etc.

You'd have to be REALLY rich to be able to afford this in the US. And if you were that rich, they would welcome you with open arms already.

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Now Peter, what do most old people have in common apart from a love of Werther's Originals?

Yup, you got it in one, they need lot's of medical care, medication, operations, etc.

You'd have to be REALLY rich to be able to afford this in the US. And if you were that rich, they would welcome you with open arms already.

Good point :(

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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