[quote=briansd1]I think that this new plan is to give foreign homebuyers extended tourist visa for as long as they own the house — not work visas or permanent residency.
This will avoid the buyers having to file income tax returns on their foreign earnings.[/quote]
…Walter Molony, a spokesman for the Realtors group, says buyers come from all over the world; their top places of origin are Canada, China, Mexico, the U.K. and India, he says.
Molony says U.S. homes are attractive because they’re relatively inexpensive, especially in high foreclosure states like Florida and Arizona. There are also few legal obstacles to transferring titles.
Visas can pose problems for some would-be buyers, Molony says, so it’s possible that the house-for-visa trade would make a difference for some. But how many buyers will take the U.S. up on this deal, if it comes to pass, is not knowable, he says.
I’m all for it!! Bring it on! But just remember that these foreigners may only occupy 6+ months per year. The rest of the time, one would surmise they have security lights and a gardener and “poolman.” Isn’t that how this has worked in the past … with Mexican citizens? So, why do we, as homeowners CARE about this?
If this bill is passed and ultimately causes more distressed properties to be sold quickly, it’s a win-win situation for everyone. Remember that, even if a property is sold “cheap,” those “sold comps” disappear after six months (in “appraisal-speak”) and will eventually get us out of the quagmire we are in and lift ALL BOATS :=]
