The president initially said his $5 million green card alternative would replace a visa for foreign investors that has become a favorite financing tool of major developers.

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.

Estimates of how many millionaires could afford to buy Trump's proposed visa range from 1.5 to 3.3 million people, according to recent reports.