Buy a House, Get a Visa (2)

The buy a house, get a visa program which I have been pushing for some time is getting some serious play.  Writing in the WSJ, Richard Lefrak and Gary Shilling note:

The blueprint for a program to sell surplus housing to immigrants is already in place with the EB-5 visa program. Each year, 10,000 EB-5 visas for this country are available for foreigners who each invest $1 million in a new enterprise ($500,000 in economically depressed areas) that creates at least 10 full-time jobs. After two years, the entrepreneur and his family can become permanent residents.

Why not reduce the investment required and expand the program to 100,000?  

Barry Ritholz John Mauldin has further thoughts and links.  Thanks to Jim Ward for the pointer.


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