$500 Thousand Can Buy A Green Card &Nbsp; The US Senate Proposal Attracts Immigrants.

Spending 500 thousand dollars on a house in the U. S. can get an American.

500 thousand dollars for "green card"

This is part of a bill proposed by the two party members of the United States, Senator Schuhmann of New York (Charles Schumer) and Republican Mike of Utah (Mike Lee) last weekend, to stimulate overseas investment in the US and complement the existing green card system.

According to the bill, an investment of US $500 thousand to buy property in the United States can get a renewal visa every 3 years - green card.

The applicant can use all the funds to buy a suite, or spend $250 thousand to buy a house and invest the rest of the money in other apartments.

Of course, there are many restrictions on the bill.

These include the purchase of cash, mortgage loans or home equity loans.

The value of real estate must exceed its recent valuation value.

The green card holder can not apply for citizenship.

Neither the buyer nor the family members are eligible for Medicaid, Medicare or social security benefits.

In addition, new visas and foreigners who migrate to the United States will not be able to work here unless they obtain a regular work visa through the normal process.

At the same time, buyers will have to live in the United States for more than 180 days a year and must pay any American income tax on international income.

If you don't work for 6 months in a row, you have to be quite rich.

If the buyer sells the property, it will no longer qualify for a temporary visa.

Other amendments to the bill include allowing Chinese tourists to accept five years of visas and allow multiple visits.

At present, they must apply for new visas every year.

Schuhmann, who proposed this bill, is certainly not pro Chinese.

A few days ago, we also proposed sanctions against China's control of the RMB exchange rate.

The original purpose of his move is to stimulate the real estate market in the United States and create more demand in this way without spending a cent on the federal government.

"They will spend and pay taxes here, and most importantly, they will absorb excess supply exceeding demand in the housing market, which is a drag on our economy."

Schuhmann said publicly.

The news immediately triggered heated discussions between the US and China.

Experts say the bill indicates that the US may further encourage investment immigration in the future to stimulate the weak American economy.

Barry Bosworth (Barry Bosworth) of the Brookings Institution was once an economic adviser to former US presidents.

He resolutely opposed the bill.

He told the first financial daily (micro-blog) daily that the US green card should not be used to buy and sell, and it would be useless for the US economy.

"I think it's a bad idea."

Bosworth said, "we cannot solve the housing market crisis by introducing real estate buyers from abroad.

This only shows the bankruptcy of US policy and the eagerness of politicians.

Many experts, including Mark Krikorian, director of the American immigration Research Center, criticized the bill, saying that it would shake the existing immigrant visa system in the United States and may bring problems to many laws, policies or regulations in the US.

It is understood that at present, the United States has a similar immigration policy, as long as foreigners invest more than 500 thousand dollars in the United States, and create at least 10 jobs, you can get a green card.

Now $500 thousand can get a green card in disguise.

US housing market continues to slack

The motion of politicians is really the product of poverty.

The latest S & P /Case-Shiller housing price index, released in August 2011, shows that the index of 20 cities in the United States has dropped by 3.8%, exceeding the expectations of experts.

In addition, the data of the National Association of Realtors showed that in September this year, the sale of second-hand housing fell by 3% compared with the previous month, which once again showed that the weakness of the real estate market has become one of the main obstacles in the third year of the US economic recovery.

Experts say housing prices in the US have fallen by 31% since the peak of 2006, and it will take many years to recover to 2006 levels.

Foreclosure continues to pour into the market.

To make matters worse, because of the worsening employment and income of Americans, the October consumer confidence index dropped from 46.4 in September to 39.8, the lowest level since March 2009.

"The problem of the property market and mortgage market is indeed an important factor in the overall slow economy.

It not only impedes the overall economy, but also slows down the growth of consumption.

Mitch Rivet, chief economist at Bank of America, told reporters (Mickey Levy).

The fall in house prices has become a "serious obstacle to a stronger economic recovery".

Dudley, President of the Federal Reserve Bank of New York, said in a speech at Fordham University in Bronx this week.

He predicted that the United States would "continue to grow moderately".

Under such a background, policymakers naturally put their eyes on overseas buyers who purse and drum up.

Schuhmann and Li were supported by the American Chamber of Commerce, the American Tourist Association, the United Inn and the Lodging Association, and even the stock god Buffett.

According to the data released by the real estate brokers association, the total number of overseas buyers buying US property in the last year of March was $82 billion, compared with $66 billion a year earlier.

Canadians account for 1/4, while buyers from China, Mexico, the United Kingdom and India account for another 1/4.

Data from the US real estate market and overseas property held this week show that from 2009 to 2010, the proportion of Chinese buyers making up the number of overseas buyers in the US surged from 5% to 9%.

However, experts still believe that even if Schuhmann's bill is passed, it is not known how much impact the overseas buyers will have.

"The bill is a step to increase housing demand, but I don't know how much money they will prepare to put into the project.

How many green cards will be issued.

The way forward is correct, but the effect is great.

Standard and poor's deputy chief economist Bersn Polvino (Beth Ann Bovino) told reporters.

However, it is certain that more and more overseas buyers are buying property in southern Florida, southern California, Arizona and other markets.

These States will see a huge increase in demand.