Move My Realty - Real Estate News

GO FOR THE SILVER

At a time when more Americans are living out their golden years in Mexico, Costa Rica, Panama and other countries, U.S. real estate professionals support the creation of a "silver card" visitor visa that would allow foreigners to retire in the United States. The silver card would not make foreign retirees U.S. citizens, but it would give them legal residence in this country. However, they could not hold jobs in the U.S. and would need to submit to a security background check. Realtors Association of the Palm Beaches Chairman John Mike says the silver card would boost the U.S. economy, fueling the housing market as well as the automobile, restaurant, retail, airline and other industries. Even so, critics worry that these foreigners will put a burden on the healthcare industry, and they oppose giving special treatment to one group of foreigners when many others already are waiting for visas. The National Association of Realtors created a presidential advisory group to look into the issue, which spokeswoman Mary Trupo says "is high on our radar screen and we are looking at all the implications."

Source: Palm Beach Post (FL) (06/22/08) Moscoso, Eunice
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