The question of Visa's for sale was raised in the Wall St. Journal today... It was posed after an article was posted by one of my favorite journalists that cover the Real Estate market,Nick Timiraos of the WSJ. The article entitled Foreigners' Sweetener: Buy House, Get a Visa...

In a nutshell, a proposed measure in Congress would offer visas to any foreigner making a cash investment of at least $500,000 on residential real-estate—a single-family house, condo or townhouse. Applicants can spend the entire amount on one house or spend as little as $250,000 on a residence and invest the rest in other residential real estate, which can be rented out.

Over the past 12 months over 85% of the homes I've sold have been to global investors or corporate relocation executives. In that time 5 were looking for Visa's and all 5 were investing over a million in order to buy a company that would guarantee 10 jobs for existing US citizens under the existing EB-5 program, which makes so much sense. Why then would we just give away visa's?

What do you think? Should such a bill be passed to help the struggling real estate market recover?