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INS Withdraws Rule That Would Have Clouded Foreigners' U.S. Vacation Plans

NAHB had been urging the INS, which is now part of the new Department of Homeland Security, to include a special exemption for “seasonal” home owners, including an automatic six-month visa.

The association argued that prospective buyers and investors would shy away from the housing market if they were not assured of a sufficiently long tourist visa, or if they could not extend their visit once they were here. NAHB contended that owners of residential property were less of a security risk because the INS could track their permanent address and because, as home owners, they are identifiable members of their community. Also, seasonal visitors would be less likely to overstay their visa since they would plan to return to their seasonal home in the United States every year.

If the B1/B2 Visa Rule had been finalized, real estate agents, builders, apartment owners and property management companies doing business in Florida, California and other vacation destinations could have faced severe economic hardship. According to the U.S. Small Business Administration, foreign tourism contributes more than $70 billion annually to the domestic economy.

Foreign home owners in the Orlando area, for example, add some $1.6 billion a year in economic benefits to the central Florida economy alone, according to recent studies.

The INS is expected to review the rule again and could issue a revised regulation at some point in the future.

For more information, contact Neil Gaffney.

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