*"The only beneficiaries I can think of for this program would be rich capitalis...

MiguelHudnandez · on Oct 20, 2011

They would extend the offer only to those that spend half a million dollars on a home. I have a feeling that excludes most of the Canadians bargain hunting for property in Phoenix.

djb_hackernews · on Oct 20, 2011

Pass this proposal and half a million dollars will be a bargain.

mahyarm · on Oct 20, 2011

Canada has an over-inflated real estate market, especially in Vancouver, which is equal to the bay area or even more expensive and the best weather we can get within Canada is Seattle style around Vancouver. Canadians finding US houses attractive in these two cases is not surprising.

OstiaAntica · on Oct 20, 2011

You misread, it is only $250,000 for the first home, and the rest can be investment.

brudgers · on Oct 20, 2011

I didn't realize there was a slumlord shortage.

sliverstorm · on Oct 20, 2011

In most of the country, $250,000 is quite a nice house. Let your mind think outside the Bay Area every now and again.

mortenjorck · on Oct 21, 2011

I just did a search in the most distant Chicago suburb I could name off the top of my head, and this was the closest I could come to exactly $250:

http://www.trulia.com/property/31925157-723-Tiller-St-Elburn...

What do you suppose that would run you in, say, Los Gatos?

littlegiantcap · on Oct 20, 2011

Try coming to the midwest. That buys a pretty good size house.

brudgers · on Oct 21, 2011

It's not the half to buy the primary residence which sparked the comment.

It's the half which is expected to be invested in income producing property.

I once worked as a city planner.

If you are ever around people who enforce housing standards, you will learn that absentee landlords correlate with problematic rental property.

There is also tends to be a correlation between what people view as acceptable rental housing management and the culture in which they were raised.

There is no Valley bias in my post...I've always lived in the South East.