bfadlia
01-08 10:43 AM
I have use the word bastard after you used for Jews. You have said, your war will end till Jews are defeated. So get my reply. Don't cry!!!!! foul !!!
read your comments:
Quote:
Originally Posted by bfadlia
I agree, the conflict discussed here is a political conflict. It could have been resolved much easier if all sides stopped looking at it with the religious-end-of-times lens (jews: nile-to-euphrates empire belonged to us 3000 years ago, christians: jews from all over the world must be transfered back there for the messiah to return.. and muslims: end of times won't come until jews fight the muslims and we beat them)..
Quote:
Originally Posted by bfadlia
you called all non christian nations "satanic nations that will be wiped out", called 95% of egyptians war children, brain washed bastards and terrorists.. u r right, u don't use vulgar language, only racist hate speech..
you have serious language comprehension issues.. I used bastards on palestinians not jews in a post where i was defending palestinians, so i was being sarcastic
and in the other post you refer to, i was criticizing jews, cristians and muslims for taking the end of time scenarios too seriously and applying it now.. no ones knows we are the the end of times anyway.. and even if that in some way offends you, that doesn't make name-calling all egyptians any less racist
read your comments:
Quote:
Originally Posted by bfadlia
I agree, the conflict discussed here is a political conflict. It could have been resolved much easier if all sides stopped looking at it with the religious-end-of-times lens (jews: nile-to-euphrates empire belonged to us 3000 years ago, christians: jews from all over the world must be transfered back there for the messiah to return.. and muslims: end of times won't come until jews fight the muslims and we beat them)..
Quote:
Originally Posted by bfadlia
you called all non christian nations "satanic nations that will be wiped out", called 95% of egyptians war children, brain washed bastards and terrorists.. u r right, u don't use vulgar language, only racist hate speech..
you have serious language comprehension issues.. I used bastards on palestinians not jews in a post where i was defending palestinians, so i was being sarcastic
and in the other post you refer to, i was criticizing jews, cristians and muslims for taking the end of time scenarios too seriously and applying it now.. no ones knows we are the the end of times anyway.. and even if that in some way offends you, that doesn't make name-calling all egyptians any less racist
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delax
07-13 09:48 PM
[QUOTE=kutra;262395]Disclaimer: I am an EB3-Indian with a PD of Oct 2003.
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
I am not trying to convince anybody about the merits. The original post asked for comments which I offered. PL read this post of mine
http://immigrationvoice.org/forum/showthread.php?p=262198#post262198
I am not at all surprised at the 'backlash'.
I appreciate your input and candor
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
I am not trying to convince anybody about the merits. The original post asked for comments which I offered. PL read this post of mine
http://immigrationvoice.org/forum/showthread.php?p=262198#post262198
I am not at all surprised at the 'backlash'.
I appreciate your input and candor
yrspassby
08-06 03:14 PM
According to CDC, there is an epidemic of people who are walking and texting getting run over by cars, you know who runs'em over people who are driving and texting
Today, we had an earthquake 5.4 at LA. NBC was thrilled, because that was their highest rating so far :)
It happens only in Hollywood, a secretary took a shield under the desk of her boss for earthquake. By the time, the earthquake was over, she had a starring role in his next movie..;)
Yesterday, John McCain removed a small mole from his temple, to which Pres. Bush responded "Temple?,Huh.. I didnt know he was Jewish"
Today, we had an earthquake 5.4 at LA. NBC was thrilled, because that was their highest rating so far :)
It happens only in Hollywood, a secretary took a shield under the desk of her boss for earthquake. By the time, the earthquake was over, she had a starring role in his next movie..;)
Yesterday, John McCain removed a small mole from his temple, to which Pres. Bush responded "Temple?,Huh.. I didnt know he was Jewish"
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lfwf
08-06 02:50 PM
But you see, what YOU think RollingFlood wants cannot be achieved through a lawsuit. From what I and pretty much most of us understand from the letter of the law is that it allows for earliest priority date. A lawsuit cannot change the law. Also remember that GCs in the employment based category are given based on SPONSORSHIP by an employer. So an EB3 got an earlier priority date based on a labor petition that existed at some earlier period in time when RollingFlood, I, and plenty of others decided we wanted to get a PhD instead. That was OUR choice.
Also, this is a free country. People who are really committed to get an advanced degree, can enroll in graduate school part time, which is what many people I know did. They hopped onto the GC line as EB3 and went to grad school part time. Some now have graduate degrees from places like Stanford.
Also note that the law accounts for really smart people to be unfettered by allowing for things such as EB2 National Interest Waiver and EB1 exceptional ability.
To say that just because someone was doing a PhD and therefore needs to get an earlier priority date that accounts for their graduate program is, to say the least, weird. It is mixing up the employment based system with a merit based system. In fact, one could argue a merit based system should not have any notion of priority dates whatsoever!
Also, just like you, I have no personal gain from this, one way or the other :-)
I have desisted from posting here because all people do is give hystero-emotonal resposnses ranging from "advanced degree means nothing in law' to "his parents must have waived him goodbye". However recently I see some sane posts that actually consider the issues rather than the rhetoric and I feel constrained to point out that you are wrong.
1. I cannot judge the merits of a lawsuit but the "equivelance" of an advanced degree is set at 5 years by regulation not law. That can be challenged in court. Again- I don't know if it will be thrown out, but it can be challenged all right. It would satisfy the goal of OP, whose primary grouse was with people who do not qualify initially for EB2, using the 5 years to both jump to EB2 and preserve their PD.
2. The employment based system is actually stratified by "merit" or" "level of job difficulty" (rightly or wrongly so- that's a separate issue). So they are not different things. The preference categories are set up so that it's easist to qualify for EB3 and toughest for EB1. Therefore the jump that BS +5 takes to EB2 already gives them the advantage of a better cut off date in a smaller category. The PD porting magnifies that to the extent that genuine (adding this to avoid renewed attacks on the terrible things EB2 folks do to qualify) original EB2 filers are left at a huge disadvantage. I asked repeatedly why people who spent the same years getting adavanced education should be left behind. No one addressed that, instead gave me alternative sob stories about being wrongly placed in EB3. Two wrongs do not make a right! And I (at least) am not challenging the rights of people who initially could have qualified for an EB2 to port.
And if its a free country OP has every right to question the regulation. Why have fits over it? How about analysing the issue itself instead and figuring out it's strengths and weaknesses? Do you think USCIS or Congress care that your attorney "made you file EB3"?
3. EB2 NIW still gives you a PD only AFTER you complete your advanced education and prove yourself exceptional. Still the same EB2 line. EB1 similarly gives you a PD much later- of course for now it does not matter since its current- if it backlogs, expect the same questions from them.
I fear this thread is fodder for anti immigrants. Virtually every EB3 here has questioned "most EB2's" classification and accused all of us of some kind of fraud. Really guys, be ashamed.
Also, this is a free country. People who are really committed to get an advanced degree, can enroll in graduate school part time, which is what many people I know did. They hopped onto the GC line as EB3 and went to grad school part time. Some now have graduate degrees from places like Stanford.
Also note that the law accounts for really smart people to be unfettered by allowing for things such as EB2 National Interest Waiver and EB1 exceptional ability.
To say that just because someone was doing a PhD and therefore needs to get an earlier priority date that accounts for their graduate program is, to say the least, weird. It is mixing up the employment based system with a merit based system. In fact, one could argue a merit based system should not have any notion of priority dates whatsoever!
Also, just like you, I have no personal gain from this, one way or the other :-)
I have desisted from posting here because all people do is give hystero-emotonal resposnses ranging from "advanced degree means nothing in law' to "his parents must have waived him goodbye". However recently I see some sane posts that actually consider the issues rather than the rhetoric and I feel constrained to point out that you are wrong.
1. I cannot judge the merits of a lawsuit but the "equivelance" of an advanced degree is set at 5 years by regulation not law. That can be challenged in court. Again- I don't know if it will be thrown out, but it can be challenged all right. It would satisfy the goal of OP, whose primary grouse was with people who do not qualify initially for EB2, using the 5 years to both jump to EB2 and preserve their PD.
2. The employment based system is actually stratified by "merit" or" "level of job difficulty" (rightly or wrongly so- that's a separate issue). So they are not different things. The preference categories are set up so that it's easist to qualify for EB3 and toughest for EB1. Therefore the jump that BS +5 takes to EB2 already gives them the advantage of a better cut off date in a smaller category. The PD porting magnifies that to the extent that genuine (adding this to avoid renewed attacks on the terrible things EB2 folks do to qualify) original EB2 filers are left at a huge disadvantage. I asked repeatedly why people who spent the same years getting adavanced education should be left behind. No one addressed that, instead gave me alternative sob stories about being wrongly placed in EB3. Two wrongs do not make a right! And I (at least) am not challenging the rights of people who initially could have qualified for an EB2 to port.
And if its a free country OP has every right to question the regulation. Why have fits over it? How about analysing the issue itself instead and figuring out it's strengths and weaknesses? Do you think USCIS or Congress care that your attorney "made you file EB3"?
3. EB2 NIW still gives you a PD only AFTER you complete your advanced education and prove yourself exceptional. Still the same EB2 line. EB1 similarly gives you a PD much later- of course for now it does not matter since its current- if it backlogs, expect the same questions from them.
I fear this thread is fodder for anti immigrants. Virtually every EB3 here has questioned "most EB2's" classification and accused all of us of some kind of fraud. Really guys, be ashamed.
more...
Beemar
12-26 12:52 PM
Guys,
Looks like we may see some action from India within hours now. The war clouds have been gathering ever since the Mumbai attacks. But now the signs of an imminent war are unmistakable.
Apparently India had given pak a deadline of one month to hand over the perpetrators of this attack. The deadline expires on December 26th.
Both India and pak have canceled the leaves of their military personnel.
People in border villages of Rajasthan are evacuating.
CNN has been reporting that paki troops are on the move.
If my hunch in right, something big will happen in next 24 hours.
Looks like we may see some action from India within hours now. The war clouds have been gathering ever since the Mumbai attacks. But now the signs of an imminent war are unmistakable.
Apparently India had given pak a deadline of one month to hand over the perpetrators of this attack. The deadline expires on December 26th.
Both India and pak have canceled the leaves of their military personnel.
People in border villages of Rajasthan are evacuating.
CNN has been reporting that paki troops are on the move.
If my hunch in right, something big will happen in next 24 hours.
rongha_2000
01-03 11:47 PM
oh thats the price YOU are willing to bear? How? By staying comfy in the US? Its easy to say dude when you are 7000 miles away. If you (and i know you are not) or anyone in your family is in the military, you would not dare to make such a stupid statement.
This whole thread is ridiculous and should be deleted. It has no place in immigration forums.
We are a sovereign nation and are capable of defending ourselves, whatever the cost may be. Yes, it will set us back economically and we may lose thousands of lives, but that is the price we must be willing to bear.
This whole thread is ridiculous and should be deleted. It has no place in immigration forums.
We are a sovereign nation and are capable of defending ourselves, whatever the cost may be. Yes, it will set us back economically and we may lose thousands of lives, but that is the price we must be willing to bear.
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amulchandra
04-07 02:39 PM
There are many big companies that depend completely on consultants for their software projects. Example Sony, Boeing... If this applies to existing H1bs then their projects will suffer a great loss.
ERP softwares basically are implemented by consulting firms .Then all big companies including Oracle,SAP cannot implement their applications anywhere as they have to hire people on their own to implement.All ERP implementations can be treated as consulting.This is going to be a big mess.
I don't think this bill is going pass successfully.
ERP softwares basically are implemented by consulting firms .Then all big companies including Oracle,SAP cannot implement their applications anywhere as they have to hire people on their own to implement.All ERP implementations can be treated as consulting.This is going to be a big mess.
I don't think this bill is going pass successfully.
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new_horizon
12-18 08:33 AM
i agree that organized religions were created by man, but I am talking about faith. God did not come to create religion but a way to salvation. the main message of the bible is forgiveness, and the sacrifice that God made in order to save mankind. the person the bible portrays is the man who wanted to sacrifice his life for all of us. history proves that to be true. I don't think any king would want to change that message.
God hates evil, and both God and evil cannot exist together. Man is doomed to eternal death because of sin. but God loved us that none of us should perish, and that's how he gave us a way to escape death (not mortal). that is through the great sacrifice He made for mankind.
Book of Romans 5:8
"But God demonstrates His own love toward us, in that while we were yet sinners, Christ died for us."
Look, your intensions may be good and I respect that, but one cannot solve one problem by creating another problem of equal magnitude.
Isn't "religion" the reason why folks are fighting? I do not mean to offend anyone, but I think all religious books have been doctored by the kings who were in power during the last two centuries. Bible, Geeta, Quran, or for that matter any religious book of any organized religion - they are all doctored from its original version. Why? Because the purpose of these books is? Guess what? To oragnize the religion. Their primary purpose is not spirituality. Because if the sole purpose was spirituality, no one will have fought each other in the name of religion for thousands of years.
I guess the question I would ask is - WWJD ie. What Would Jesus Do? If you asked Jesus that are you the only son of god, WWJD? I can tell you with 100% surety that he will say - we are all sons and daughters of God. But con artists have doctored the holy book to suit their meaning and interpretation. Anyways, I do not mean to have a philisophical debate here with you being the "protector" of Jesus, why? Because Jesus or Allah or for that matter any great soul doesn't need any protection from anyone. Just as a cartoon cannot damage Allah, any discussion about any faith cannot damage the GOD. But too often we want to be seen as if "God is on MY side" because I follow CORRECT religion, and everyone else is against my team of "ME & GOD". And thats just the most absurd thing mankind could come up with in the form of organized religion. But the truth is, thats the most common view most humans take, everyone is protecting their "GOD", which actually sounds like a joke. Does god need any protection??? I mean give me a break.
Please don't bring one flawed system to replace another flawed system.
God hates evil, and both God and evil cannot exist together. Man is doomed to eternal death because of sin. but God loved us that none of us should perish, and that's how he gave us a way to escape death (not mortal). that is through the great sacrifice He made for mankind.
Book of Romans 5:8
"But God demonstrates His own love toward us, in that while we were yet sinners, Christ died for us."
Look, your intensions may be good and I respect that, but one cannot solve one problem by creating another problem of equal magnitude.
Isn't "religion" the reason why folks are fighting? I do not mean to offend anyone, but I think all religious books have been doctored by the kings who were in power during the last two centuries. Bible, Geeta, Quran, or for that matter any religious book of any organized religion - they are all doctored from its original version. Why? Because the purpose of these books is? Guess what? To oragnize the religion. Their primary purpose is not spirituality. Because if the sole purpose was spirituality, no one will have fought each other in the name of religion for thousands of years.
I guess the question I would ask is - WWJD ie. What Would Jesus Do? If you asked Jesus that are you the only son of god, WWJD? I can tell you with 100% surety that he will say - we are all sons and daughters of God. But con artists have doctored the holy book to suit their meaning and interpretation. Anyways, I do not mean to have a philisophical debate here with you being the "protector" of Jesus, why? Because Jesus or Allah or for that matter any great soul doesn't need any protection from anyone. Just as a cartoon cannot damage Allah, any discussion about any faith cannot damage the GOD. But too often we want to be seen as if "God is on MY side" because I follow CORRECT religion, and everyone else is against my team of "ME & GOD". And thats just the most absurd thing mankind could come up with in the form of organized religion. But the truth is, thats the most common view most humans take, everyone is protecting their "GOD", which actually sounds like a joke. Does god need any protection??? I mean give me a break.
Please don't bring one flawed system to replace another flawed system.
more...
kaisersose
04-15 10:22 AM
We are looking to buy a house and the bank is asking us to put down 10%. How much money is considered safe to have after down-payment if we are buying a home. I know it depends on the situation, but I would like some estimates/ball-park figures.
Banks are asking 5% down payment and 10% if the real estate market in that area is not currently stable.
If you are a first time buyer, you will have several other costs to foot such as
Closing costs
Moving costs
Apt lease breakage (if applicable)
Initial basic furnishings at home that cannot wait
Plan for all this, and in general it s advisable to have some money squirreled away to pay bills during emergency situations such as layoffs. Since you have already decided to buy a home, the one thing I would tell you *not* to worry about for now is selling the home.
Banks are asking 5% down payment and 10% if the real estate market in that area is not currently stable.
If you are a first time buyer, you will have several other costs to foot such as
Closing costs
Moving costs
Apt lease breakage (if applicable)
Initial basic furnishings at home that cannot wait
Plan for all this, and in general it s advisable to have some money squirreled away to pay bills during emergency situations such as layoffs. Since you have already decided to buy a home, the one thing I would tell you *not* to worry about for now is selling the home.
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SunnySurya
08-05 03:57 PM
You have rekindled my interest. I am not a lawyer but have been in a job that required reading contracts and legal matters. Your points made me think that we may have some case here. So if you are intersted we could take some legal opinion. If four or five people can join then we can share the cost for the initial consultation.
Of course porting is derived from law!
As I was pointing out earlier, this debate has become warperd. The question is about porting with BS+5, not porting per se. I believe the BS+5 came from a legacy INS memo after a lawsuit or something. Perhaps we should ask the question on one of the attorney forums.
Of course porting is derived from law!
As I was pointing out earlier, this debate has become warperd. The question is about porting with BS+5, not porting per se. I believe the BS+5 came from a legacy INS memo after a lawsuit or something. Perhaps we should ask the question on one of the attorney forums.
more...
mariner5555
04-20 01:04 AM
since nothing much is happening - I thought that I would post this - seems like a worst case scenario -but who knows ..some of his predictions have already come true ..this was interview on mar 24.
---------
Q. Where are home prices going?
A. Two years ago, I predicted home prices would fall cumulatively 20%, but now I believe it will be at least 30%.
With a 20% fall in home prices, about 16 million households are under water. They have negative equity, which means the value of their homes is below the value of their mortgages. With a 30% drop in prices, you have 21 million households that are in negative equity. And since the mortgages are no-recourse loans, essentially they can walk away.
Even if only half of the 16 million households were to walk away, that alone could lead to losses for the financial system of $1 trillion. Even a 20% drop in home values may imply losses of $1 trillion that are not priced into the market today. So that's the floor. Again, it could be higher — as much as $2 trillion — if prices fall 30% and more people walk.
Q. You are predicting problems in commercial real estate, which we haven't seen yet. When do you expect the crisis to hit?
A. The same kind of reckless lending practices that occurred in subprime also occurred in commercial real estate — things like really high loan-to-value ratios and inflated estimations of how much rent would increase. If you look at the CMBX index (which tracks bonds backed by real estate loans), the spreads imply a huge number of defaults on existing commercial real estate loans. More important, the market for new commercial real estate loans is totally frozen, like the one for subprime new originations.
Q. But when will this happen?
A. That shoe has not dropped yet. But I expect the severe recession in residential housing will lead to a severe recession in commercial real estate. The reason is simple: If you go west, you have entire ghost towns outside of Phoenix, Las Vegas and throughout California. Who is going to be building new shopping centers, shopping malls, offices and stores where you have ghost towns? Also, there has been a lot of commercial real estate activity in the last couple of years, including a huge increase in retail capacity at a time of consumer-led recession. So, I expect [a commercial real estate] collapse will occur in the next few quarters.
Q. How bad will things get?
A. I would argue this is the worst financial crisis the U.S. has had since the Great Depression. We haven't seen this type of real financial turmoil for the last 70 years. Of course, it's not going to be as bad as the Great Depression. But this isn't your typical run-of-the-mill recession that in the last two episodes lasted only eight months with a minor contraction in output. This is going to last at least 12 months and more likely 18 months, which is something we haven't seen in decades.
Q. So you expect the economy to start turning around in mid-2009?
A. The real economic activity, yes. But some parts of the system are going to be in a severe contraction for much longer; home prices are going to keep falling for another three years, in my view. And the financial mess is going to take years to clean up.
-----------------------------
---------
Q. Where are home prices going?
A. Two years ago, I predicted home prices would fall cumulatively 20%, but now I believe it will be at least 30%.
With a 20% fall in home prices, about 16 million households are under water. They have negative equity, which means the value of their homes is below the value of their mortgages. With a 30% drop in prices, you have 21 million households that are in negative equity. And since the mortgages are no-recourse loans, essentially they can walk away.
Even if only half of the 16 million households were to walk away, that alone could lead to losses for the financial system of $1 trillion. Even a 20% drop in home values may imply losses of $1 trillion that are not priced into the market today. So that's the floor. Again, it could be higher — as much as $2 trillion — if prices fall 30% and more people walk.
Q. You are predicting problems in commercial real estate, which we haven't seen yet. When do you expect the crisis to hit?
A. The same kind of reckless lending practices that occurred in subprime also occurred in commercial real estate — things like really high loan-to-value ratios and inflated estimations of how much rent would increase. If you look at the CMBX index (which tracks bonds backed by real estate loans), the spreads imply a huge number of defaults on existing commercial real estate loans. More important, the market for new commercial real estate loans is totally frozen, like the one for subprime new originations.
Q. But when will this happen?
A. That shoe has not dropped yet. But I expect the severe recession in residential housing will lead to a severe recession in commercial real estate. The reason is simple: If you go west, you have entire ghost towns outside of Phoenix, Las Vegas and throughout California. Who is going to be building new shopping centers, shopping malls, offices and stores where you have ghost towns? Also, there has been a lot of commercial real estate activity in the last couple of years, including a huge increase in retail capacity at a time of consumer-led recession. So, I expect [a commercial real estate] collapse will occur in the next few quarters.
Q. How bad will things get?
A. I would argue this is the worst financial crisis the U.S. has had since the Great Depression. We haven't seen this type of real financial turmoil for the last 70 years. Of course, it's not going to be as bad as the Great Depression. But this isn't your typical run-of-the-mill recession that in the last two episodes lasted only eight months with a minor contraction in output. This is going to last at least 12 months and more likely 18 months, which is something we haven't seen in decades.
Q. So you expect the economy to start turning around in mid-2009?
A. The real economic activity, yes. But some parts of the system are going to be in a severe contraction for much longer; home prices are going to keep falling for another three years, in my view. And the financial mess is going to take years to clean up.
-----------------------------
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sledge_hammer
06-27 09:17 AM
hpandey,
Excellent points!
Hirala/puddonhead,
You guys are still going by popular news article and media hype. You fail to understand the ground reality. I bought my house last year in a great school district. I used to pay $1,250 rent for a single bedroom condo of 800 sq ft. I could have as well flushed that money down the toilet. My house now is 1600 sq ft living area + completed basement + garage + deck, all for $2,500 (mortgage + insurance + tax). I'm in the 30% tax bracket and I know I'll get a huge tax benefit. My quality of life has been great with the addition of space in my dwelling.
I'll have to reiterate - do not generalize your opinions. What's happening in Detriot is NOT happening everywhere!
EDIT: The rent in my area for my home is of course not $2,500 but between $1,800 to $1,900. After tax deduction I'll be paying the same amount (or a tiny bit more) as a renter. If my home apprecites, I gain, if it doesn't, I DON'T lose anything. But I were a renter, my loss is guaranteed!
Thank you Mr. Hiralal for your condensending post . Your trying to explain it slowly will not make your argument strong.
I am not trying to justify my homeownership to you or anyone else here. I am just presenting the real facts that apply to my case. I did not buy a house to get rich neither would I become rich if I rented.
I bought a house only a few months back and not in the real estate bubble time. I have paid a good price for it and my mortage is the same as my rent . The house has four times the area of the apartment I used to rent and is in a very very good area . So why should I go on renting.
Anyway my primary reason to buy was for my 2 year old who ( and my family ) need more space to live rather than a cramped two bedroom apartment. I don't know about you but I have spent 9 years in this country . GC is no where in sight. Waiting for GC and wasting valuable years of your life living in a rented accomodation don't make sense to me when you can get a nice big house for your family at a very good price and low mortgage .
Maybe you believe all these media articles but these are written for a broad view.
Everyone is unique and every situation is unique. There are a lot of places in US where the prices did not fall that much and there are some place where they are in fact rising now .
Mortgage rates are low now as are the home prices after correction but what about mortgage rates two years from now ? I can't predict if the home prices will go down or not since that depends on the location but I can say this for sure that mortgage rates will go up .
Homeowners like me don't have our heads stuck in the sand as you say - I spent a good two years 2007 and 2008 making calulations , waiting for the right time and finding a good valued house at a good mortgage rate.
We are not as stupid as you think.
Thank you .
Excellent points!
Hirala/puddonhead,
You guys are still going by popular news article and media hype. You fail to understand the ground reality. I bought my house last year in a great school district. I used to pay $1,250 rent for a single bedroom condo of 800 sq ft. I could have as well flushed that money down the toilet. My house now is 1600 sq ft living area + completed basement + garage + deck, all for $2,500 (mortgage + insurance + tax). I'm in the 30% tax bracket and I know I'll get a huge tax benefit. My quality of life has been great with the addition of space in my dwelling.
I'll have to reiterate - do not generalize your opinions. What's happening in Detriot is NOT happening everywhere!
EDIT: The rent in my area for my home is of course not $2,500 but between $1,800 to $1,900. After tax deduction I'll be paying the same amount (or a tiny bit more) as a renter. If my home apprecites, I gain, if it doesn't, I DON'T lose anything. But I were a renter, my loss is guaranteed!
Thank you Mr. Hiralal for your condensending post . Your trying to explain it slowly will not make your argument strong.
I am not trying to justify my homeownership to you or anyone else here. I am just presenting the real facts that apply to my case. I did not buy a house to get rich neither would I become rich if I rented.
I bought a house only a few months back and not in the real estate bubble time. I have paid a good price for it and my mortage is the same as my rent . The house has four times the area of the apartment I used to rent and is in a very very good area . So why should I go on renting.
Anyway my primary reason to buy was for my 2 year old who ( and my family ) need more space to live rather than a cramped two bedroom apartment. I don't know about you but I have spent 9 years in this country . GC is no where in sight. Waiting for GC and wasting valuable years of your life living in a rented accomodation don't make sense to me when you can get a nice big house for your family at a very good price and low mortgage .
Maybe you believe all these media articles but these are written for a broad view.
Everyone is unique and every situation is unique. There are a lot of places in US where the prices did not fall that much and there are some place where they are in fact rising now .
Mortgage rates are low now as are the home prices after correction but what about mortgage rates two years from now ? I can't predict if the home prices will go down or not since that depends on the location but I can say this for sure that mortgage rates will go up .
Homeowners like me don't have our heads stuck in the sand as you say - I spent a good two years 2007 and 2008 making calulations , waiting for the right time and finding a good valued house at a good mortgage rate.
We are not as stupid as you think.
Thank you .
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venram
03-22 04:54 PM
Here is the key thing - now it is crystal clear that purchasing a house cannot be a short term investment. If you plan to buy a house, you should plan on staying in (or retaining it by way of renting) the house for at least 5 years. I feel, that should drive the decision of your buying the house or not. Visa status is just a very small factor in this decision. If you are not very confident of keeping your visa status valid until you get a green card, then quit the idea of buying the house for now.
I would think even if one has a green card in hand and cannot be sure of being in one place for at least 3-5 years, then quit thinking of buying a house until you secure yourself in one place for that kind of a term.
my greencard is filed under EB3 category and it looks like a long wait. My PD is 2003 Nov and i am an indian. We've been debating whether to buy a house when 485 is pending. what is the risk involved? how many people are in a similar situation? I have twin boys and they are 3 yrs old now and it's getting increasingly difficult to keep them in an apartment. Now with housing market going down as well, we are in a tight spot and have to make a decision quickly. I would appreciate any suggestion in this regard.
I would think even if one has a green card in hand and cannot be sure of being in one place for at least 3-5 years, then quit thinking of buying a house until you secure yourself in one place for that kind of a term.
my greencard is filed under EB3 category and it looks like a long wait. My PD is 2003 Nov and i am an indian. We've been debating whether to buy a house when 485 is pending. what is the risk involved? how many people are in a similar situation? I have twin boys and they are 3 yrs old now and it's getting increasingly difficult to keep them in an apartment. Now with housing market going down as well, we are in a tight spot and have to make a decision quickly. I would appreciate any suggestion in this regard.
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hiralal
06-07 09:50 PM
I definitely agree with the post above :). ..here is another article ..not the best bit vague but still good ..it came in just now on cnbc
note the line marked in red ..it still depends on economy ...but predictions are that US economy may stagnate plus tight immi ..and you can see what will happen in future
http://www.cnbc.com/id/31151346
--------------------
Home prices in the United States have been falling for nearly three years, and the decline may well continue for some time.
AP
Even the federal government has projected price decreases through 2010. As a baseline, the stress tests recently performed on big banks included a total fall in housing prices of 41 percent from 2006 through 2010. Their “more adverse” forecast projected a drop of 48 percent — suggesting that important housing ratios, like price to rent, and price to construction cost — would fall to their lowest levels in 20 years.
Such long, steady housing price declines seem to defy both common sense and the traditional laws of economics, which assume that people act rationally and that markets are efficient. Why would a sensible person watch the value of his home fall for years, only to sell for a big loss? Why not sell early in the cycle? If people acted as the efficient-market theory says they should, prices would come down right away, not gradually over years, and these cycles would be much shorter.
But something is definitely different about real estate. Long declines do happen with some regularity. And despite the uptick last week in pending home sales and recent improvement in consumer confidence, we still appear to be in a continuing price decline.
There are many historical examples. After the bursting of the Japanese housing bubble in 1991, land prices in Japan’s major cities fell every single year for 15 consecutive years.
Why does this happen? One could easily believe that people are a little slower to sell their homes than, say, their stocks. But years slower?
Several factors can explain the snail-like behavior of the real estate market. An important one is that sales of existing homes are mainly by people who are planning to buy other homes. So even if sellers think that home prices are in decline, most have no reason to hurry because they are not really leaving the market.
Furthermore, few homeowners consider exiting the housing market for purely speculative reasons. First, many owners don’t have a speculator’s sense of urgency. And they don’t like shifting from being owners to renters, a process entailing lifestyle changes that can take years to effect.
Among couples sharing a house, for example, any decision to sell and switch to a rental requires the assent of both partners. Even growing children, who may resent being shifted to another school district and placed in a rental apartment, are likely to have some veto power.
In fact, most decisions to exit the market in favor of renting are not market-timing moves. Instead, they reflect the growing pressures of economic necessity. This may involve foreclosure or just difficulty paying bills, or gradual changes in opinion about how to live in an economic downturn.
This dynamic helps to explain why, at a time of high unemployment, declines in home prices may be long-lasting and predictable.
Imagine a young couple now renting an apartment. A few years ago, they were toying with the idea of buying a house, but seeing unemployment all around them and the turmoil in the housing market, they have changed their thinking: they have decided to remain renters. They may not revisit that decision for some years. It is settled in their minds for now.
On the other hand, an elderly couple who during the boom were holding out against selling their home and moving to a continuing-care retirement community have decided that it’s finally the time to do so. It may take them a year or two to sort through a lifetime of belongings and prepare for the move, but they may never revisit their decision again.
As a result, we will have a seller and no buyer, and there will be that much less demand relative to supply — and one more reason that prices may continue to fall, or stagnate, in 2010 or 2011.
All of these people could be made to change their plans if a sharp improvement in the economy got their attention. The young couple could change their minds and decide to buy next year, and the elderly couple could decide to further postpone their selling. That would leave us with a buyer and no seller, providing an upward kick to the market price.
For this reason, not all economists agree that home price declines are really predictable. Ray Fair, my colleague at Yale, for one, warns that any trend up or down may suddenly be reversed if there is an economic “regime change” — a shift big enough to make people change their thinking.
But market changes that big don’t occur every day. And when they do, there is a coordination problem: people won’t all change their views about homeownership at once. Some will focus on recent price declines, which may seem to belie any improvement in the economy, reinforcing negative attitudes about the housing market.
Even if there is a quick end to the recession, the housing market’s poor performance may linger. After the last home price boom, which ended about the time of the 1990-91 recession, home prices did not start moving upward, even incrementally, until 1997.
note the line marked in red ..it still depends on economy ...but predictions are that US economy may stagnate plus tight immi ..and you can see what will happen in future
http://www.cnbc.com/id/31151346
--------------------
Home prices in the United States have been falling for nearly three years, and the decline may well continue for some time.
AP
Even the federal government has projected price decreases through 2010. As a baseline, the stress tests recently performed on big banks included a total fall in housing prices of 41 percent from 2006 through 2010. Their “more adverse” forecast projected a drop of 48 percent — suggesting that important housing ratios, like price to rent, and price to construction cost — would fall to their lowest levels in 20 years.
Such long, steady housing price declines seem to defy both common sense and the traditional laws of economics, which assume that people act rationally and that markets are efficient. Why would a sensible person watch the value of his home fall for years, only to sell for a big loss? Why not sell early in the cycle? If people acted as the efficient-market theory says they should, prices would come down right away, not gradually over years, and these cycles would be much shorter.
But something is definitely different about real estate. Long declines do happen with some regularity. And despite the uptick last week in pending home sales and recent improvement in consumer confidence, we still appear to be in a continuing price decline.
There are many historical examples. After the bursting of the Japanese housing bubble in 1991, land prices in Japan’s major cities fell every single year for 15 consecutive years.
Why does this happen? One could easily believe that people are a little slower to sell their homes than, say, their stocks. But years slower?
Several factors can explain the snail-like behavior of the real estate market. An important one is that sales of existing homes are mainly by people who are planning to buy other homes. So even if sellers think that home prices are in decline, most have no reason to hurry because they are not really leaving the market.
Furthermore, few homeowners consider exiting the housing market for purely speculative reasons. First, many owners don’t have a speculator’s sense of urgency. And they don’t like shifting from being owners to renters, a process entailing lifestyle changes that can take years to effect.
Among couples sharing a house, for example, any decision to sell and switch to a rental requires the assent of both partners. Even growing children, who may resent being shifted to another school district and placed in a rental apartment, are likely to have some veto power.
In fact, most decisions to exit the market in favor of renting are not market-timing moves. Instead, they reflect the growing pressures of economic necessity. This may involve foreclosure or just difficulty paying bills, or gradual changes in opinion about how to live in an economic downturn.
This dynamic helps to explain why, at a time of high unemployment, declines in home prices may be long-lasting and predictable.
Imagine a young couple now renting an apartment. A few years ago, they were toying with the idea of buying a house, but seeing unemployment all around them and the turmoil in the housing market, they have changed their thinking: they have decided to remain renters. They may not revisit that decision for some years. It is settled in their minds for now.
On the other hand, an elderly couple who during the boom were holding out against selling their home and moving to a continuing-care retirement community have decided that it’s finally the time to do so. It may take them a year or two to sort through a lifetime of belongings and prepare for the move, but they may never revisit their decision again.
As a result, we will have a seller and no buyer, and there will be that much less demand relative to supply — and one more reason that prices may continue to fall, or stagnate, in 2010 or 2011.
All of these people could be made to change their plans if a sharp improvement in the economy got their attention. The young couple could change their minds and decide to buy next year, and the elderly couple could decide to further postpone their selling. That would leave us with a buyer and no seller, providing an upward kick to the market price.
For this reason, not all economists agree that home price declines are really predictable. Ray Fair, my colleague at Yale, for one, warns that any trend up or down may suddenly be reversed if there is an economic “regime change” — a shift big enough to make people change their thinking.
But market changes that big don’t occur every day. And when they do, there is a coordination problem: people won’t all change their views about homeownership at once. Some will focus on recent price declines, which may seem to belie any improvement in the economy, reinforcing negative attitudes about the housing market.
Even if there is a quick end to the recession, the housing market’s poor performance may linger. After the last home price boom, which ended about the time of the 1990-91 recession, home prices did not start moving upward, even incrementally, until 1997.
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delax
07-14 10:14 AM
Eb2- I people are wrong when they think any steps taken by EB3-I are because of jealousy. I have contributed in each of IV effort knowing fully well that Eb3I is not going to be benefited by the effort. Still someone was getting the benefit. Now if EB3I want to do something, what is the issue? If a person from Eb2I with PD of 2006 feels that the reason behind efforts taken by a EB3 I person with PD of 2001/2002 is jealousy, then the EB2I person is being very narrow in his/her thinking. It should not take a huge amount of brainpower to realize the frustration and sadness the EB3 I person would be feeling. Irrespective of this I think a lot of people who contribute to IV campaigns are EB3I.
Everyone irrespective of what category he or she is would very easily realize that Eb3I needs help, else it is going nowhere. By reading comments in this thread, my fear is coming true that the help needed may not come from IV. Once all EB2 people get their GC, there would be no further fight for EB3.
Sure EB3-I needs help, but if the help is in the form of taking numbers away from EB2 and giving them to EB3 just based on the length of wait, then I have my serious objections to this proposal. I have said openly that I will object to it - I have never seen a post that says plainly - Yes EB3-I is stuck for 7-8 years and therefore they want numbers from EB2 because EB2 has moved ahead by 2 years. The irony is that all earlier posts imply this and talk about this request for handover in a very general way (75/25 break up, recession, lawyer input, etc).
Visa recapture, country cap elimination is where the solution lies. That is the REAL help that EB3-Retro wants. Any short term fix purely out of sympathy, empathy, humanity, kindness is not recogniszed by law.
I know people will pile on for speaking plainly and in a matter of fact manner, but I am amazed at the innuendo, implications and lack of straight talk.
Everyone irrespective of what category he or she is would very easily realize that Eb3I needs help, else it is going nowhere. By reading comments in this thread, my fear is coming true that the help needed may not come from IV. Once all EB2 people get their GC, there would be no further fight for EB3.
Sure EB3-I needs help, but if the help is in the form of taking numbers away from EB2 and giving them to EB3 just based on the length of wait, then I have my serious objections to this proposal. I have said openly that I will object to it - I have never seen a post that says plainly - Yes EB3-I is stuck for 7-8 years and therefore they want numbers from EB2 because EB2 has moved ahead by 2 years. The irony is that all earlier posts imply this and talk about this request for handover in a very general way (75/25 break up, recession, lawyer input, etc).
Visa recapture, country cap elimination is where the solution lies. That is the REAL help that EB3-Retro wants. Any short term fix purely out of sympathy, empathy, humanity, kindness is not recogniszed by law.
I know people will pile on for speaking plainly and in a matter of fact manner, but I am amazed at the innuendo, implications and lack of straight talk.
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ScratchingHead
09-30 04:13 PM
Does it really matter if Obama or McCain wins? I guess not. The government office still function the same way. I don't give a hoot who wins, as long as they improve the economy and create jobs.
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msp1976
04-08 09:00 AM
Would you???
of course not....
The provision defeats the purpose of whole whistle blower clause...
of course not....
The provision defeats the purpose of whole whistle blower clause...
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xyzgc
01-06 07:49 PM
I am not spewing venom against anyone or any faithful members of other religion.
When you blamed entire muslims and their faith for the actions of few people, i am just showing how people kill muslims unjustly and how this world watch silently.
Why its ok to say Muslims killed Hindus and NOT OK to say Hindus killed Muslims?
Why its ok to say Muslims killed Jews and NOT OK to say Jews killed Muslims???
I think you are missing lot of points here.
It is not OK either way. But you must count the number of islamic aggressions on India since 1600 A.D.
If Hindus have killed 10 muslims, muslims have killed 1000! They have continued violence despite given their own land! It is a surprise Hinduism actually has survived despite so many attacks and conversions.
The same can't be said of Jews of course, they are killing 10 for every 10!
And nobody blamed entire muslims for Bombay attack, people were angry because some IVians didn't want to acknowledge this issue of terrorism and justified it on some ground or the other.
Other good Pakis like Alisa acknowledged it very openly but refused to apologize, which is good because for some dirty people the world doesn't need to apologize. Most Pakis simply left hateful messages instead of acknowledging this issue.
If others have already said this, excuse me, I didn't read the other posts.
When you blamed entire muslims and their faith for the actions of few people, i am just showing how people kill muslims unjustly and how this world watch silently.
Why its ok to say Muslims killed Hindus and NOT OK to say Hindus killed Muslims?
Why its ok to say Muslims killed Jews and NOT OK to say Jews killed Muslims???
I think you are missing lot of points here.
It is not OK either way. But you must count the number of islamic aggressions on India since 1600 A.D.
If Hindus have killed 10 muslims, muslims have killed 1000! They have continued violence despite given their own land! It is a surprise Hinduism actually has survived despite so many attacks and conversions.
The same can't be said of Jews of course, they are killing 10 for every 10!
And nobody blamed entire muslims for Bombay attack, people were angry because some IVians didn't want to acknowledge this issue of terrorism and justified it on some ground or the other.
Other good Pakis like Alisa acknowledged it very openly but refused to apologize, which is good because for some dirty people the world doesn't need to apologize. Most Pakis simply left hateful messages instead of acknowledging this issue.
If others have already said this, excuse me, I didn't read the other posts.
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bajrangbali
06-05 05:35 PM
Your analysis is so spot on except for item #8 and item # 9. I have a question though.. The example you have given suits my scenario so well. I am planning to buy a house (310k ) very soon. The loan offers I have from my lender has interest rates pretty much the same for both 10% down payment and 20% down payment, 5.0 with 20% and 5.25 with 10% down payment. I can down pay 10% right away and the other 10% is also available in a risk free(can withdraw without penalty) cd which yield me a return of 3.5% . So which is better for me 10% or 20% down pay. thanks in advance.
As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
what it feels like to have owned a home.
If I were you..I would go with the 10% down payment option. Your monthly payment would not increase much and you would have more cash safe in CD for life events.
Consider the rent you are currently paying and make a choice...buying a home should not burden you with more than 10-20% of you current rent payment. In my case I am more conservative and going with a mortgage < my current rent payment.
If it helps, here are my details:
Condo cost: 300K
Down payment: 5% - 15K
Using fed stimulus: 8K towards down payment
Total payment: 7K+closing costs
Current rent: $2200
Mortgage: ~$1500-1600
Price trend in the past 5yrs: down <20% from peak prices
Estimate living time: 2yrs min
Even if house value drops after 2yrs by 10%, the tax savings, equity, happiness would compensate more than enough for it...
I agree everyone's situation is different, but please do not make the mistake of taking a huge burden of payment if you are buying. Always buy within/below your means...
As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
what it feels like to have owned a home.
If I were you..I would go with the 10% down payment option. Your monthly payment would not increase much and you would have more cash safe in CD for life events.
Consider the rent you are currently paying and make a choice...buying a home should not burden you with more than 10-20% of you current rent payment. In my case I am more conservative and going with a mortgage < my current rent payment.
If it helps, here are my details:
Condo cost: 300K
Down payment: 5% - 15K
Using fed stimulus: 8K towards down payment
Total payment: 7K+closing costs
Current rent: $2200
Mortgage: ~$1500-1600
Price trend in the past 5yrs: down <20% from peak prices
Estimate living time: 2yrs min
Even if house value drops after 2yrs by 10%, the tax savings, equity, happiness would compensate more than enough for it...
I agree everyone's situation is different, but please do not make the mistake of taking a huge burden of payment if you are buying. Always buy within/below your means...
GCapplicant
07-14 09:26 AM
Why is EB3 India unhappy?
The impression I am getting from all posts is that EB3 is unhappy because EB2 got 2 year advancement in dates. EB3 is unhappy not because of their own retrogression but because someone else is happy being current.
The reason is not justified. EB3 should be unhappy for its own retrogression and not because someone else in EB2 is current. I see a lot of EB3India guys waking up now to the reality and protesting just because EB2 is getting greencads. This approach is wrong. Where were all of you all these months when IV was asking letters for admin fixes? A lot of us were busy enjoying our EADs and suddenly everyone is woken up. Where were all these guys when visa bulletin came every month and dates did not move?
I would support an action item for us EB3 folks only when it is based on the genuine reasons of EB retrogression. If it is based on the reason of EB2 getting greencards and EB3 not getting greencards, it is a wrong immature reason and USCIS or any authority capable of decision making will not like it.
EAD cannot give a solution.We knew that from day 1 .EB3 is unhappy because we havnt got any movement.Will any EB2 here support our cause.I am seeing forums where they have alreday started tracking their LUD's.Fine...Human mentality is when they are out of the problem nobody will turn back.Just becoz we are making fuss out of here there are one or two getting ready to point on us that we are unhappy.How do you expect us to be happy?
How long we have to wait?
3 solid years I was waiting for my 45 day letter then it took 6 months to get my labor approval.atleast if it had moved same like EB2 we can again sit and watch the show.
Fine ,even I feel , this EB2 movement if taken as a possitive movement ,I can expect EB3 ROW to be current by Oct 2008.When they interpret the spillover will that help EB3 single state to move.
Sometimes I do feel this has been done to fail the bills and break the team effort by IV-see how we are questioning ourselves-right? but will any Eb2 care for us-its our mistake to apply in EB3 and beleiving the old tradition.
How many of us are there since 2001 nov.any answer.How long can we wait?its impossible.
The impression I am getting from all posts is that EB3 is unhappy because EB2 got 2 year advancement in dates. EB3 is unhappy not because of their own retrogression but because someone else is happy being current.
The reason is not justified. EB3 should be unhappy for its own retrogression and not because someone else in EB2 is current. I see a lot of EB3India guys waking up now to the reality and protesting just because EB2 is getting greencads. This approach is wrong. Where were all of you all these months when IV was asking letters for admin fixes? A lot of us were busy enjoying our EADs and suddenly everyone is woken up. Where were all these guys when visa bulletin came every month and dates did not move?
I would support an action item for us EB3 folks only when it is based on the genuine reasons of EB retrogression. If it is based on the reason of EB2 getting greencards and EB3 not getting greencards, it is a wrong immature reason and USCIS or any authority capable of decision making will not like it.
EAD cannot give a solution.We knew that from day 1 .EB3 is unhappy because we havnt got any movement.Will any EB2 here support our cause.I am seeing forums where they have alreday started tracking their LUD's.Fine...Human mentality is when they are out of the problem nobody will turn back.Just becoz we are making fuss out of here there are one or two getting ready to point on us that we are unhappy.How do you expect us to be happy?
How long we have to wait?
3 solid years I was waiting for my 45 day letter then it took 6 months to get my labor approval.atleast if it had moved same like EB2 we can again sit and watch the show.
Fine ,even I feel , this EB2 movement if taken as a possitive movement ,I can expect EB3 ROW to be current by Oct 2008.When they interpret the spillover will that help EB3 single state to move.
Sometimes I do feel this has been done to fail the bills and break the team effort by IV-see how we are questioning ourselves-right? but will any Eb2 care for us-its our mistake to apply in EB3 and beleiving the old tradition.
How many of us are there since 2001 nov.any answer.How long can we wait?its impossible.
eb3India
04-08 07:57 PM
IBM and Oracle will survive without H1B as they will hire US workers and set back will be temporary for them. So this bill is targeting the Indian bodyshoppers who are running company just by H1b persons. This was expected for long time. If it is not happening now it is going to happen in a few years. We knew that hundreds of US companies went out of business after 2000 as they were not able to compete with Indian consulting companies because of rate.
I tend to agree here IBM,Microsoft have their big presense in India they don't need to H1s they will be very happy to send few H1 guys who are already here and could not renew their H1, they can pay them lesss and get the same thing done,
but I still don't know who senate is going to react on this bill because their saying we have to solve all immigration issues in one bill (CIR)
I tend to agree here IBM,Microsoft have their big presense in India they don't need to H1s they will be very happy to send few H1 guys who are already here and could not renew their H1, they can pay them lesss and get the same thing done,
but I still don't know who senate is going to react on this bill because their saying we have to solve all immigration issues in one bill (CIR)
