President Donald Trump’s bid to lure wealthy immigrants to the U.S. with a “gold card” program could drive up home prices and worsen America’s housing-affordability crisis, according to real-estate experts and people who’ve studied similar immigration incentives in Europe.

Former President Donald Trump unveiled a plan to sell a “gold card” visa for $5 million, granting green card privileges without requiring job creation. While similar to the EB-5 program, which requires investment-linked job creation, the new visa would function purely as a pay-to-play system.

President Trump's Gold Card proposal proposes US residency in exchange for a $5 million direct government payment.