From Realtor Magazine Online, Daily Real Estate News November 20, 2008
Miami real estate practitioner Tony Macaluso is among those campaigning for a new type of U.S. visa that would allow older immigrants to retire here and buy homes.
He and others see it as a way to jumpstart the housing market, particularly in states like Florida, Arizona, California, and Nevada – attractive retirement spots that have been hard hit by foreclosures.
"We need to step up to the plate, saying, 'This is a really great place to be. We have a fine country we would like you to share. We would love you to come and spend your retirement funds here within our borders,'" Macaluso says.
Currently, foreign nationals can buy property in the U.S. as long as they don’t work. Generally, they are granted tourist visas and must leave the country every six months in order to renew them. Macaluso would grant this group of people what is called a “silver visa” by other countries.
"When they come here it would be on a non-work visa, so they would be retired [and] their wealth that they are earning in another country would be spent here in the United States. If there is something we could clearly use, it is more money coming into the country," Macaluso says.
Source: FoxNews.com, Phil Keating (11/19/2008)
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