Realtors pushing 'silver card' visa for foreign retirees

(Palm Beach Post) -- Real estate agents across the country are now pushing for a visa that would allow foreign citizens to retire in America.

They call it a "silver card" as opposed to a "green card." Proponents say it would allow foreigners to purchase homes, cars and many other goods and services, stimulating the troubled economy.

"Millions of dollars would get spent in this country. It would be a boon to the U.S. economy - to real estate, people buying properties, the automobile industry, the restaurant industry, retail, airline travel, furniture makers, there are so many dimensions," said Mike, chairman of the Realtors Association of the Palm Beaches.

The concept has been the subject of debate at the National Association of Realtors (NAR), a trade group with more than 1.2 million members that has yet to endorse such a proposal.

Mary Trupo, a spokeswoman for NAR, said that the organization is having "a great deal of dialogue" on the idea of a silver visa and has formed a presidential advisory group to study it further.

"It is high on our radar screen and we are looking at all the implications," she said.