
My client in Korea told me about a news he read from Korean media that might boost American real estate market. Of course I was intrigued so I googled to see what it is about and found LA Times article:
http://www.latimes.com/business/la-fi-visas-home-buyers-20111021,0,6715779.story
"Two U.S. senators have introduced a bill that would allow foreigners who spend at least $500,000 on residential property to obtain visas allowing them to live in the United States."" The legislation would create a new homeowner visa that would be renewable every three years, but the proposal would not put them on a path to citizenship. To be eligible, a person would have to buy a primary residence of at least $250,000 and spend a total of $500,000 on residential...