The World Chamber of Commerce Supports Swift Passage of the VISIT-USA Immigration Bill

There are 1.5 million homes now in foreclosure and another two million in preforeclosure. Of those still in their homes, eleven million are worth less than the mortgages on them. House prices have dropped fifty eight months in a row. Robert Shiller, professor of Housing Economics at Yale, said our house prices could drop another 25% in the next five years. With the seventy six million Baby Boomers aging and now spending less and less every year and the 46 million generation X unable to take up the slack, we must look to foreign buyers to stimulate our real estate markets. Read more