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The Department of Homeland Security and the Department of Labor have proposed restrictions to the H-1B visa program that businesses use to hire foreign workers for specialized occupations, especially in the technology sector. The changes will make U.S. companies pay higher salaries to the visa holders tighten hiring rules that determine their eligibility and increase regulation by the DHS and the DOL. It is anticipated that these restrictions will reduce the overall number of H-1B visa holders.
NAR supports a variety of visa programs because these visa holders stimulate economic development, rent and purchase property, and create economic opportunity. NAR is concerned these restrictions will harm real estate markets that rely on these visa holders.