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The Schumer-Lee housing proposal comes up short as stimulus

Posted on 28 October 2011

Senators Charles Schumer (D – New York) and Mike Lee (R – Utah) are preparing to introduce a bill they hope will help repair a U.S. housing market reeling from declining prices, rising foreclosures, and excess inventory.
Their proposal would grant three-year residence visas (without work permits) to foreigners who pay cash to purchase either one home worth at least $500,000 or two homes both worth at least $250,000………………………………………..Full Article: Source


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