WE'VE ALREADY ESTABLISHED WHAT YOU ARE, NOW WE'RE HAGGLING OVER YOUR PRICE:

Bill would encourage foreigners to buy U.S. homes (Jim Puzzanghera and Lauren Beale, 10/20/11, Los Angeles Times)

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 plan could be a boon to California, which has become a popular real estate market for foreigners, particularly those from China.

Nationwide, residential sales to foreigners and recent immigrants totaled $82 billion in the 12-month period ended March 31, up from $66 billion the previous year, according to the National Assn. of Realtors. California accounted for 12% of those sales, second only to Florida.

Posted by oj at October 24, 2011 3:56 PM
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