I came across an article regarding giving foreign retires a visa to live here, buy Real Estate and participate to the economy. While it seems very interesting at first, a couple of thoughts just make me understand why it is not working.
Well, I think there are several problems for a foreigner to come here to retire. Firstly, the rights that this indivisual might have or not have actually. We already know that E2 visa holders, for instance, are people living here to invest and create employement. What we know less is these people have a very limited rights and/or privileges. For example, E2 visa holders' children cannot legally go to school, drive, work, have ID, insurance and so on. Plus, they are deportable at age 21. Some of them having been in this country LEGALLY for decades...So, what kind of rights and/or privileges can have a retiree? While Americans are obviously not very familiar with immigration laws, foreigners always go for informations and they tend to know better than Americans.
Secondly, there is a strong idea about crimes in the US, right or wrong, than any other country. I remember when I was living in South Florida and going to Europe, tons of people were asking is it wasn't too dangerous in Miami. It seems that idea is still strong for retirees, especially when they reach a certain age, if not an age certain.
Thirdly, and in a smaller scale, there are much less products available in the market than other country. Since I know Europe and know it's very true, I went recently to Mexico. My first time. And I got the idea of a poor country with little to do or buy. What a surprise when I entered a local WalMart. Huge by its size - twice my local super center WalMart - I could see and buy, not only all and every products that can be found in the US, but tons of foreign varieties from all over the world. Amazing to find fresh baguettes like in France, all kind of fish like in Spain, all kind of everything...and cheaper.
So, my guess is there is a lot to do and to offer to attract these foreigners and participate in our real estate recovery. Let's begin by anihilate discrimination. My first day in Tennessee (moving from South Florida), a local shouted at me to "go back to New-York"!!! There is a looong way to go still...
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