Is it true that an immigrant can buy a house for over $500,000 in U.S. to get a green card?

It appears that someone is an eager beaver. You can sell your residence to whomever you choose, whether the person is a U. S. citizen, permanent resident, person on a nonimmigrant visa, or even someone who is illegal. But at present, an immigrant will not be able to get a green card buying a house for over $500,000. In the Senate bill for comprehensive immigration reform which is not yet law, there is provision for giving retiree visas to aliens who use $500,000 in cash to purchase one or more residences at an amount in excess of 100% of the assessed value; are at least 55 years of age and have health insurance; are not inadmissible to this country; will not seek public assistance; will not work other than to manage a residential property worth at least $500,000; and will reside in the U. S. in a residence worth more than $500,000. If and when this law passes, these qualifying individuals would receive renewable three-year visas and be allowed admission along with their spouses and children. Due to the limitations of the Lawyers.com Forums, Alan Lee, Esq.'s (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided herein by the Firm is general, and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.  

No.  An immigrant can invest that amount in a company that will create jobs in economically depressed areas and thereby obtain a green card, but personal real estate transactions do not qualify.