Selling the USA

Posted by Larry Miller on October 24, 2011 under How | 2 Comments to Read

ForeclosureLegislation has been introduced by Senators Chuck Shumer (D-NY) and Mike Lee (R-UT) that would grant visas to foreign citizens who will come into the country and buy at least half a million dollars in real estate. It has been added to their new immigration bill with the idea of helping our floundering housing market. We are told it is a great deal all the way around as buyers with cash (hopefully) would be brought into the market, homes would be sold, real estate agents would get paid, banks may be able to reduce their inventory of foreclosed houses and, best of all, we are told, it won’t cost us a cent.

This sounds like a deal that is too good to be true. And, when we look at it a little more closely, it really is too good to be true. This has been presented as a bi-partisan approach to the problem. This description brought to mind the late comedian George Carlin’s thoughts about such proposals, “Bipartisan usually means that a larger-than-usual deception is being carried out.”

While all the benefits we are supposed to experience because of this bill are necessary and to be desired, we really have to consider what we will do to get them. One of the provisions is that the visas will not be work visas, so buyers will have to have an independent source of funds. We are told that this is the kind of people we want… they are the priority immigrants. They are to be desired if they will come into our country and spend their own money. It is certainly better than people sneaking across the borders and becoming wards of the state.

Yet, in most contexts, people coming in from other countries and buying half a million dollars worth of real estate is a substantial purchase, particularly for someone not permitted to work, yet living in the US for at least six months out of the year. It could be considered bad form to have independently wealthy foreigners move into a neighborhood while people in some surrounding homes are struggling to keep their own houses.

Worse yet, investors are snapping up foreclosures at record pace. Is it really beneficial to have many rental properties held in the name of absentee owners with no concern for fellow citizens? As an American who loves his country, I did not feel comfortable when the Japanese bought Rockefeller Center. Chinese are buying up American real estate. Americans are loosing their homes and businesses. This just seems to be adding insult, from our government even, to injury.

Perhaps there is nothing we can do about this while the current regime is in power, but our country is being bought up by foreigners one building at a time. This proposal idea will only aggravate the situation. Sure we need to do something. Selling our country just doesn’t seem to be the answer.

Perhaps it’s the answer we need, yet, giving our country away just doesn’t seem to be the way to go. Our government is mortgaging our childrens’ future. Overseas investors are already buying up our real estate. Private sector incomes are dropping while average government incomes are rising. It just seems that the average citizen is being left behind to serve the elites, foreign and domestic. Is this the path we really want to take?

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  • Theresa Fleming said,

    Selling visas, not to mention the American People,to the highest bidder from a foreign country who may, or may not share our American values, is wrong on so many levels, it’s hard to even know where to begin!

    Moms For America

  • Paul Robinson said,

    Thus completing the circle. Kick us out of our homes due to foreclosure and replacing us with with foreigners. You have to admit it is diabolical.

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