Two Senators have come up with a plan to boost the moribund U.S. housing market: Give residence visas to foreigners who spend at least $500,000 to buy a home in the U.S.

mk: Yeah this seems half-baked. I'm surprised Buffet thinks it's a good idea. It just sounds like a way to create a new bubble, driving up demand not based on economic conditions, but an artificial mechanism. Sounds like it will help rich people sell their properties.

Personally, I think we should give urban homesteading visas. There are thousands of abandoned properties in Detroit. We should give people visas and the property if they live there 5 years.

posted by lessismore: 2644 days ago