Is the United States crazy about money?

Is the United States crazy about money? (Alberta Times) Can I apply for investment immigration to buy a house in the United States? The question is simple, and the answer is also simple: No, but people who want to immigrate ask...

Is the United States crazy about money? (Alberta Times) Can I apply for investment immigration to buy a house in the United States? The question is simple, and the answer is also simple: no, but many people who want to immigrate ask this question. Today, these people are blessed. Democratic Senator Schumer of New York and Republican Senator Mike Lee of Utah have jointly proposed the Green Card Bill for Home Purchases, which would provide green cards to those who invest at least US$500,000 in cash to purchase homes in the United States to revitalize the housing market. However, there is no need to be too happy. This is just a proposal and there is still a long way to go before it is passed. Current immigration laws stipulate that investment immigration applicants create ten jobs for the United States by actually operating a company. The investment amount has two investment quotas: US$1 million or US$500,000; if you want to invest anywhere in the United States, you must invest US$1 million; if you invest in a government-recognized area with high unemployment (poverty), it is US$500,000. Or the applicant chooses an investment regional center (Regional Center) approved by the Bureau of Investment and Immigration (USCIS). The applicant does not need to participate in the business or live in the location of the investment regional center. The investment amount for this type of investment immigration is also US$500,000. The total number of projects approved each year is capped at 10,000, with 3,000 reserved for immigrant investors investing in designated regional centers. As for the Green Card for Home Purchase Act, those who have a green card for home purchase must obtain a work visa through normal procedures if they want to work in the United States. However, they can bring their spouses and children under the age of 18 to the United States. There is no upper limit for the issuance of a green card for home purchase, but the holder cannot legally reside in the United States after selling the house. In other words, you need to invest at least 500,000 yuan in cash to buy a house. As for a family house, an apartment, or a residential complex, the applicant can also invest all 500,000 yuan in one house, or spend 250,000 yuan to buy two houses, one for self-occupation and one for rent. Judging from the content of the bill and the current regulations, there is not much difference. The problem is that the current law stipulates that there must be ten job opportunities, and the quota is limited; while the new bill only requires buying a house, and there is no limit on the number of immigrants. Buying a house for 500,000 yuan and getting a green card is simply a "fatal attraction" for the Chinese. A house worth 500,000 yuan is really a small case in Los Angeles, a city where Chinese people are concentrated. In luxury areas such as San Marino and other luxury areas, where the houses cost more than one million yuan, the Chinese pay cash without changing their expression. This kind of case is heard from time to time. When immigrants come to the United States, they need to find a house to stay, and the Chinese particularly love real estate. It is not an exaggeration to say that this green card bill for buying a house is specially designed for the Chinese. Supporters believe the bill would help absorb a housing glut caused by Americans who are deterred from buying homes because of concerns about job security or losing money when selling their homes. Schumer pointed out that this is a way to create demand without spending a penny from the federal government. Buying a house worth 500,000 yuan will give you a green card, and the conditions are too good. This is an advantage of the bill, but it is also a disadvantage. If it is put on the agenda for discussion, it will definitely cause controversy. The conditions are too loose, almost child's play. The United States is crazy about money, and this is not the way to play. If this case is passed, Chinese wealthy people will immediately line up to come to the United States. Los Angeles will bear the brunt and will definitely "fall". It would be easier to sell Los Angeles directly to China.