Buy a home, get a US visa, Senators propose • Hacker News Board

Re: Buy a home, get a US visa, Senators propose

#41

Post by FilterJoe » Thu, Oct 20, 2011, 6:48 PM UTC

I'll go out on a limb here and say I like the basic idea. One major detail I would change is to make it a $100,000 or $50,000 minimum instead of $500,000. There are many parts of the country where it's hard to even find a house that's as expensive as $250,000. I'd like something like this to be open to all parts of the country and I'd like it to be open to middle class as well, not just wealthy people.

Why do I like it?

* Fill vacant homes (as opposed to urban blight)

* There are many indirect economic benefits like money spent fixing homes, all the day to day purchasing that will be done by the new residents, etc.

* In some cases, individuals will be able to rejoin relatives more easily.

The urban blight thing is the one I care about most. I live in the East Bay of California and have seen certain neighborhoods totally fall apart as dozens of vacant homes attracted vandalism, drugs, and other forms of crime and caused remaining residents hardship.

EDIT: formatting

Re: Buy a home, get a US visa, Senators propose

#42

Post by 127001brewer » Thu, Oct 20, 2011, 6:51 PM UTC

jellicle wrote: post #14

The only beneficiaries I can think of for this program would be rich capitalists from China and the Middle East who are exporting their gains and sinking them into foreign property already, and who would now get a fast-track for immigration as well. I guess Congress would like to get campaign contributions from these people (once you have a green card, you can legally make political contributions to U.S. politicians)…

"The only beneficiaries I can think of for this program would be rich capitalists from China and the Middle East ..."

Actually, Canadians are largest percentage of foreigners buying homes in the U.S. at 23%.[1]

[1] Canadians Warm to Phoenix, Wall Street Journal http://online.wsj.com/article/SB1000142405297020401060457659...

Re: Buy a home, get a US visa, Senators propose

#43

Post by pjscott » Thu, Oct 20, 2011, 6:53 PM UTC

9999 wrote: post #22

Give me your energetic, your rich, Your striding elite yearning to oppress, The vaunted gild of your desolate shore. Send these, the landowners, first-class-turbulence-tost to me, I lift my lamp beside the door for those with gold!

What would you prefer?

Re: Buy a home, get a US visa, Senators propose

#44

Post by h1babuse » Thu, Oct 20, 2011, 6:53 PM UTC

nobody314159 wrote: post #32

untog wrote: post #26

Earlier quoted context omitted.

I think you're overstating the issue. I am in the US in an H1B visa and am in no way 'slave labor'. But I can't start my own company- the Startup Visa would finally solve that issue.

There aren't many places where it's considered reasonable that your employer can fire you for no reason and have you and your family thrown out of the country aswell.

Reasonable? No. Does it happen? Yes... Are there business models based upon this feature? Yes...

http://www.youtube.com/watch?v=3je9EqJurWo

http://dl.dropbox.com/u/17855015/Videos/trt-domenic-romanell...

Re: Buy a home, get a US visa, Senators propose

#45

Post by gopi » Thu, Oct 20, 2011, 6:53 PM UTC

I am not sure why many people are upset that this will attract the rich foreigners. Whats wrong with rich people moving in?. Think how much new tax revenue the country will gain if 10000 millionaires move every year

Re: Buy a home, get a US visa, Senators propose

#46

Post by MiguelHudnandez » Thu, Oct 20, 2011, 6:54 PM UTC

127001brewer wrote: post #42

jellicle wrote: post #14

The only beneficiaries I can think of for this program would be rich capitalists from China and the Middle East who are exporting their gains and sinking them into foreign property already, and who would now get a fast-track for immigration as well. I guess Congress would like to get campaign contributions from these people (once you have a green card, you can legally make political contributions to U.S. politicians)…

"The only beneficiaries I can think of for this program would be rich capitalists from China and the Middle East ..." Actually, Canadians are largest percentage of foreigners buying homes in the U.S. at 23%.[1] [1] Canadians Warm to Phoenix, Wall Street Journal http://online.wsj.com/article/SB1000142405297020401060457659...

They would extend the offer only to those that spend half a million dollars on a home. I have a feeling that excludes most of the Canadians bargain hunting for property in Phoenix.

Re: Buy a home, get a US visa, Senators propose

#47

Post by harichinnan » Thu, Oct 20, 2011, 6:54 PM UTC

This is the best solution I've heard so far that kills two birds with one stone. You could create a mini housing bubble thereby solving the unemployment and also offer a legal route for immigration for hard working folks. This should also offer a chance of amnesty for all illegal aliens when they buy a house worth 500,000$. Buy a house and get legal status/amnesty for trespassing into the country.

Re: Buy a home, get a US visa, Senators propose

#48

Post by AlexC04 » Thu, Oct 20, 2011, 6:55 PM UTC

adestefan wrote: post #7

peacemaker wrote: post #4

$500,000 to get a visa? Seems to me like Congress is still catering to the rich.

They already do that with the EB-5 visa. Invest at least $1,000,000 (or $500,000) and keep 10 jobs in the US and you can live here.

The E-2 can be had for as little as $100,000

http://www.h1base.com/visa/work/Compare%20work%20Visas/ref/1...

Re: Buy a home, get a US visa, Senators propose

#49

Post by nobody314159 » Thu, Oct 20, 2011, 6:57 PM UTC

pjscott wrote: post #43

9999 wrote: post #22

Give me your energetic, your rich, Your striding elite yearning to oppress, The vaunted gild of your desolate shore. Send these, the landowners, first-class-turbulence-tost to me, I lift my lamp beside the door for those with gold!

What would you prefer?

New science, engineering, medical graduates who have just finished a US degree/masters/PhD?

Re: Buy a home, get a US visa, Senators propose

#50

Post by prostoalex » Thu, Oct 20, 2011, 6:58 PM UTC

jellicle wrote: post #14

The only beneficiaries I can think of for this program would be rich capitalists from China and the Middle East who are exporting their gains and sinking them into foreign property already, and who would now get a fast-track for immigration as well. I guess Congress would like to get campaign contributions from these people (once you have a green card, you can legally make political contributions to U.S. politicians)…

Not like they don't have any other choice if this proposal doesn't pass, if you look at immigration patterns to Vancouver and Toronto.

This would just put US in competitive position with other countries catering to these customers. Potential visa troubles are a non-trivial deal-blocker for many.