Why Trump’s ‘gold card’ visa program could make the pricey U.S. housing market even more expensive
An influx of immigrants who pay $5 million for a visa could increase demand in the ‘ultra-high end of the real-estate market,’ says a National Association of Realtors economist
Author: Aarthi Swaminathan
President Donald Trump says he wants to create a “gold card” program that would provide immigrants who invest $5 million in the U.S. with a path to citizenship. Some countries with similar programs have seen home prices shoot up, shutting locals out of the market.
Photo: MarketWatch photo illustration/iStockphoto
President Donald Trump’s bid to lure wealthy immigrants to the U.S. with a “gold card” program could drive up home prices and worsen America’s housing-affordability crisis, according to real-estate experts and people who’ve studied similar immigration incentives in Europe.
Trump’s proposed program would provide immigrants who invest at least $5 million in the U.S. with a path toward citizenship. There are similar programs currently in place in the U.S., but they come with a smaller price tag. Trump said it’s possible the program could attract 10 million “highly productive people” and generate enough revenue to pay down the national debt...
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