Friday, September 16, 2011

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  • puddonhead
    06-05 01:32 PM
    >> First off, a house is really both an investment and a home.

    If you look at the historical rate of appreciation vs. the risks involved - I think you will come to the same conclusion as I did - that it is a lousy investment in mature markets like US.

    The scenario is different in India. I believe (based on my assumptions and calculations) that the risk/reward ratio is much more favourable there.

    The intangible value of a "home" is the only reason I will ever "buy" a house here - because it is a lousy investment. For me - that tipping point is when I can afford a starter home for cash (it is a differnet topic that I will take a mortgage even then. If there is any problem with the title - the mortgage company is there to fight for me - so it acts as a second layer of insurance). It should not be as far off as you think if you are ready to settle for a small starter home AND actively invest (rather than spend) the principal payment you would have paid towards your mortgage every month.





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  • Rolling_Flood
    08-05 09:00 AM
    Show me where it says in the law that a "person's eligibility decides EB1/2/3"?
    Your job demands an EB3 and no higher, thus your company filed an EB3.

    If you think you should be EB2 instead, then find another job or another company. What do you not understand?

    And please refrain from using foul language, this is my first, and final, request to you, sir.

    I am not anti-immigrant, just anti-porting and anti-interfiling.

    As i said earlier you have Zero understanding of these things and that's why you came to waste peoples time. You could be an anti-immigrant as well.

    "GC is for future Job and one single person could be eligible for EB3 / EB2 / EB1 any kind of jobs - its the person's ELIGIBILITY which matters " - understand dumbo ?





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  • Arjun
    07-14 08:42 PM
    Still better abolish Eb1/ Eb2/ Eb3 when there is no EBx in H1 then why EBx in GC? come on guys stratification on EB is reality along with preference order set by CIS. What is stopping eb3 guys from moving to eb2?

    you know what it takes to do that. Just think, if you were in eb3 and had applied in 2001 and now suggested to start all over again. It is very easy to say go change your category.





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  • alterego
    04-06 09:35 AM
    I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.

    The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).

    On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.

    Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).

    Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.

    You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))

    Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).

    Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.

    So you stand to lose:

    1. Your down payment of $120k
    2. Your cash at closing if you sell in 4 years: $55k
    3. Rental differential: 48 months X (3700 - 2000) = $81k

    Total potential loss: $250,000!!!

    This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.

    My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.

    The truth is probably between the extreme pessimism in this post and the unbridled optimism in other posts.

    Never trust what realtors tell you, they are in it to make a sale and it is always in their interest to talk up the market. I have never yet seen/read/heard a realtor speak negatively about the market. Even if they are asked an obvious question like do you think prices have fallen in the last year they will say they have trended down a little but the foreclosure crisis is over now, and the fed is acting decisively and the demographics speak to a longer term secular uptrend bla bla blaaaaaaaaaaaaaa. Some BS to justify their talk.

    The bottom line is there will be a hangover of a few years from this unprecedented bubble in housing, it will be more severe in hotspot areas we all know about. In those areas you will likely see a 25-30% drop with about half of it already baked in, another half spread out more slowly over the next 3 yrs that that graph illustrated. Additionally the inflation rate of 3-4%(you can expect an uptick over the next 2-3 yrs) will eat away another few percentage points of your capital , while also eating away at your loan.
    The net effect is that you would be another 20% or so the worse off in these hotbed areas in the next 3-4 yrs. In more steady areas, that fall will be much more muted perhaps half or less of that. However sales will slow to a crawl with the slowing jobs market.

    The main determinants of house prices are.

    1) Inventory............a negative right now.

    2) Credit............negative but with scope for improvement in the next 12 mths.

    3) Jobs...........likely to be down for the next 6 months atleast.

    4) Salaries..................Global pressures on these will likley persist with some tax help to average americans likley if Dems. take control.

    5) Market psychology...................likely damaged for the near term atleast 12 mths.

    6) The replacement value of homes. Land is a non factor here in this country. I scoff at suggestions to the contrary. Even in cities with restrictions, this is a yawn yawn factor. Unless you are speaking about downtown manhattan it is not a factor. Construction costs on the other hand are a factor. A value of $100 per Sq Ft of constructed value is perhaps par for the course right now, that can only go up, with rising commodity prices, salaries for construction with illegals kicked out etc over time this will go up.

    7) Rental rates to home prices. This too will catch up. Folks kicked out of sub prime mortgage homes need to go somewhere. They will likley drive demand for rentals.

    All of this points to a fast then a slow correction. I think we are nearing the end of the fast phase of home price correction. 20-25% in hotbed areas and 7-12% in other areas. I think you will see a more gradual correction of a similar magnitude spread over 3-4 yrs now.

    Lets see how it all unfolds.

    Remember Every drinking binge has a hangover! The US housing market is now in one.



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  • NKR
    12-24 10:58 AM
    but if a muslim rebels in lack of justice and equality�


    Thought I will stay out of this debate, but I couldn�t especially when innocents are getting killed�

    In India, Muslims have their own justice system according to their beliefs. Government sponsors Haj pilgrimage to poor muslims. We treat Taj Mahal as our symbol of love, fair enough.

    Abdul Kalam was the president of India, he is widely respected and all his lectures go full house even now.

    According to forbes, Wipro�s CEO Azim Premji was rated the richest person in the country from 1999 to 2005. He is the richest Muslim enterpreneur of the world. Many Hindus are working in Wipro and are proud of it.

    The three Khans in Bollywood are adored in India, Amir Khan�s Lagaan was India�s official entry for Oscars and now his �Taare Zameen Par� is this year�s official entry. We all will be happy if it wins.

    Azharuddin was the captain of Indian cricket team, though he was associated with match fixing and selling his country�s pride in cricket, he still roams scotfree.

    So where is the lack of justice and equality?. All the above chose to use the system wisely and prospered. They did not chose to lag behind and then rebel against the system.

    Now, If you think whoever is sponsoring terrorism are doing it in Islam�s favor, you are dead wrong, they are doing it so that they can lead a lavish life in their fortified mansions, they continue to sponsor terrorism, drug trafficking, money laundering and what not�all at the expense of poor brainwashed people who are mere cannon fodders.

    A poor person from Pakistan comes all over to Mumbai to carry terrorist activities and I do no understand how you can say that he is rebelling against lack of justice and equality in India. For one there is no lack of equality as mentioned above, second, who gave them authorization even if you all think there was one. That is our internal problem for crying out loud.

    Even after showing proof that the captured terrorist was from Pakistan, they are back to their old lying game telling that the person�s name is not in their official records. What next, will they give that person�s dad to India to carry out DNA test?.. hell no, they will ask for DNA sample from India and say it did not match. Seems like the trait of lying and misleading the world is in their DNA.





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  • GCInThisLife
    07-19 02:40 PM
    UN,
    I understand what you are saying. My question is.. is there anything I/my wife can do at this point? If she goes to out of country (India) and try getting either H1B stamped or H4 and re-file I485 (hoping my PD would be current as it is so far back) if it gets denied?

    Looks like we are mentally preparing for the worst.. After 10 years of stay in the US..:(

    first i'll tell a brief story.

    I am a chain smoker. my brother is a ph.d who researches cancer. He told me I would die one day of cancer (thanked him for that advice). I told him that you gotta die one day.

    he is the only person who had this comeback. He said that is what everyone says until they are on their death bed.

    now; why is this story relevant? How comfortable are you in arguing this. I remember a long time ago a person had this query; and he responded that he was on medical leave. USCIS came back and asked for verification with medical records. Others tried to get letters from their employers saying they had extended absences, etc. but employers won't give the letters because they think they will be on hook for payment of wages to you if they give such a letter.

    It is not an easy thing to overcome or argue as one may think.



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  • Zeb
    12-26 11:15 PM
    Looks like India is employing a cold start strategy. In the first phase of operations, Indian Air force will strike LeT camps in Muridke and Muzaffarabad and then ask Pakistan to refrain from taking retaliatory action. The onus will be on Pakistan to take the decision regarding further escalation of hostilities.

    Interesting to see how Pakistan will respond to such a move.


    BUNCH OF IDIOTS WAKE UP. PAKISTAN IS A NUCLEAR STATE.
    WAR IS NO SOLUTION TO ANY PROBLEM.





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  • 485Mbe4001
    10-01 05:25 PM
    http://www.ontheissues.org/2008/Barack_Obama_Immigration.htm


    Barack Obama on Immigration
    Democratic nomine for President; Junior Senator (IL)

    America has nothing to fear from today's immigrants
    For all the noise and anger that too often surrounds the immigration debate, America has nothing to fear from today's immigrants. They have come here for the same reason that families have always come here--for the hope that in America, they could build a better life for themselves and their families. Like the waves of immigrants that came before them and the Hispanic Americans whose families have been here for generations, the recent arrival of Latino immigrants will only enrich our country.
    Source: Obama & McCain back-to-back speeches at NALEO Jun 28, 2008

    We need comprehensive reform, like McCain used to support
    Senator McCain used to offer change on immigration. He was a champion of comprehensive reform, and I admired him for it. But when he was running for his party's nomination, he walked away from that commitment and he's said he wouldn't even support his own legislation if it came up for a vote.
    If we are going to solve the challenges we face, you need a President who will pursue genuine solutions day in and day out. And that is my commitment to you.

    We need immigration reform that will secure our borders, and punish employers who exploit immigrant labor; reform that finally brings the 12 million people who are here illegally out of the shadows by requiring them to take steps to become legal citizens We must assert our values and reconcile our principles as a nation of immigrants and a nation of laws. That is a priority I will pursue from my very first day.

    Source: Obama & McCain back-to-back speeches at NALEO Jun 28, 2008

    Recognize the humanity of immigrants: Todos somos Americanos
    Ultimately, the danger to the American way of life is not that we will be overrun by those who do not look like us or do not yet speak our language. The danger will come if we fail to recognize the humanity of [immigrants]--if we withhold from them the opportunities we take for granted, and create a servant class in our midst.
    More broadly, the danger will come if we continue to stand idly by as the gap between Wall Street and Main Street grows, as Washington grows more out of touch, and as America grows more unequal. Because America can only prosper when all Americans prosper--brown, black, white, Asian, and Native American. That's the idea that lies at the heart of my campaign, and that's the idea that will lie at the heart of my presidency. Because we are all Americans. Todos somos Americanos. And in this country, we rise and fall together.

    Source: Obama & McCain back-to-back speeches at NALEO Jun 28, 2008

    GovWatch: Anti-immigrants fuel xenophobia, but 45% increase
    Barack Obama said at a Palm Beach fundraiser on May 22, "A certain segment has basically been feeding a kind of xenophobia. There's a reason why hate crimes against Hispanic people doubled last year. If you have people like Lou Dobbs and Rush Limbaugh ginning things up, it's not surprising that would happen."
    Obama needs to be more careful in his use of statistics. If he is going to blame Lou Dobbs and Rush Limbaugh for "ginning up" hate crimes against Hispanics, he needs solid data to back up his allegation. The hate crimes statistics are wildly inaccurate--and a subsequent modified claim provided by his campaign was also off the mark.

    Lou Dobbs of CNN has repeatedly made use of flawed statistics, but there is no excuse for resorting to equally flawed data to attack Dobbs and his ilk. Hate crime offenses against Latinos rose from 529 in 2003 to 770 in 2006, a total increase over three years of about 45% [not even closed to double].

    Source: GovWatch on 2008: Washington Post analysis Jun 4, 2008

    Encourage every student to learn a second language
    Q: Is there any down side to the US becoming a bilingual nation?
    A: It is important that everyone learns English and that we have that process of binding ourselves together as a country. Every student should be learning a second language, because when you start getting into a debate about bilingual education, for example, now, I want to make sure that children who are coming out of Spanish-speaking households had the opportunity to learn and are not falling behind. If bilingual education helps them do that, I want to give them the opportunity. But I also want to make sure that English-speaking children are getting foreign languages because this world is becoming more interdependent and part of the process of America's continued leadership in the world is going to be our capacity to communicate across boundaries, across borders, and that's something frankly where we've fallen behind. Foreign languages is one of those areas that I think has been neglected. I want to put more resources into it.

    Source: 2008 Democratic debate at University of Texas in Austin Feb 21, 2008

    Need to look at different aspects of immigration reform
    We need stronger border security. We are cracking down on employers that are taking advantage of undocumented workers because they can't complain if they're not paid a minimum wage and not getting overtime. Worker safety laws are not being observed. We have to make sure that doesn't lead to people with Spanish surnames being discriminated against. We have to require that undocumented workers go to the back of the line, so that they are not getting citizenship before those who have applied legally.
    Source: 2008 Democratic debate at University of Texas in Austin Feb 21, 2008

    Have border patrolled, surveillance, and deploy technology
    Q: Do you think your vote on the border fence or the implementation of it was wrong?
    A: The key is to consult with local communities, whether it's on the commercial interests or the environmental stakes of creating any kind of barrier. The Bush administration is not real good at listening. I will reverse that policy. There may be areas where it makes sense to have some fencing. Having border patrolled, surveillance, deploying effective technology, that's going to be the better approach.

    Source: 2008 Democratic debate at University of Texas in Austin Feb 21, 2008

    Increasing the legal fees on immigrants is not helping
    It is important that we fix the legal immigration system, because right now we've got a backlog that means years for people to apply legally. What's worse is, we keep on increasing the fees, so that if you've got a hard working immigrant family, they've got to hire a lawyer; they've got to pay thousands of dollars in fees. They just can't afford it. It's discriminatory against people who have good character, but don't have the money. We've got to fix that. We have to improve our relationship with Mexico and work with the Mexican government so that their economy is producing jobs on that side of the border. The problem is that we have had an administration that came in promising all sorts of leadership on creating a US-Mexican relationship. Bush dropped the ball. He has been so obsessed with Iraq that we have not seen the kinds of outreach and cooperative work that would ensure that the Mexican economy is working not just for the very wealthy in Mexico, but for all people.
    Source: 2008 Democratic debate at University of Texas in Austin Feb 21, 2008

    Deporting 12 million people is ridiculous and impractical
    The American people want fairness, want justice. They recognize that the idea that you're going to deport 12 million people is ridiculous, that we're not going to be devoting all our law enforcement resources to sending people back. But what they do also want is some order to the process. We're not going to be able to do these things in isolation. We're not going to be able to deal with the 12 million people who are living in the shadows and give them a way of getting out of the shadows if we don't also deal with the problem of this constant influx of undocumented workers. That's why comprehensive reform is so important. Something that we can do immediately that is very important is to pass the Dream Act, which allows children who through no fault of their own are here but have essentially grown up as Americans, allow them the opportunity for higher education. I do not want two classes of citizens in this country. I want everybody to prosper. That's going to be a top priority.
    Source: 2008 Democratic debate at University of Texas in Austin Feb 21, 2008
    and so on .....



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  • StuckInTheMuck
    08-08 05:26 PM
    Judy was having trouble with her computer. So she called Tony, the computer guy, over to her desk. Tony clicked a couple buttons and solved the problem. As he was walking away, Judy called after him, "So, what was wrong?"

    And he replied, "It was an ID Ten T Error."

    A puzzled expression ran riot over Judy's face. "An ID Ten T Error? What's that ... in case I need to fix it again?"

    He gave her a grin... "Haven't you ever heard of an ID Ten T Error before?"

    "No," replied Judy.

    "Write it down," he said, "and I think you'll figure it out."

    (She wrote...) I D 1 0 T





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  • jonty_11
    04-09 11:28 AM
    I am all for cleaning the system and reforming H1B - but I oppose an ill conceived half measure such as the one Senator Durbin/Grassley is proposing.

    My main concern is two fold:
    1. Let us assume I am a very bright individual and I am currently in Harvard. If I graduate from Harvard Business School, and I want to join McKenzie, can I do that? Can I ever be a Management consultant in US if I want to (read I as any random Joe who is not US citizen/GC holder)

    2. Can I switch jobs within a couple of weeks if I need to (I refers to someone who works for a good company but perceives opportunities else where) - this is important as my competition (US citizen/GC holder) has no restriction in place for them. This is also important during recession when I might be a valuable asset to another company but the company cannot afford to wait.

    My point is: definitely prevent abuse of the system, but not by putting more shackles on the hapless employee. Give the employee freedom to move anywhere for a certain period of time (could be 3 yrs renewable 2 times as per current H1b) and have strict penalties if this employee overstays visa etc.

    Additionally, if employers abuse the system, send them to jail right away (and have whistle blower immigrant status protection). Make employers more accountable than they are today.

    Just my 2 cents.....
    matter of fact is the spinelesss legislators can only go after the individual(employees), and lick the a** ot corporate America.

    IV ' s position is - Opposing the Bill, if some members think otherwise, so be it.



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  • rheoretro
    11-12 04:59 AM
    Lou Dobbs has a right to speak his mind. A lot of what he says is rhetoric but it is within his rights. I wouldn't want to associate IV with any Latino related immigration movement. Their objectives, issues and means are altogether different from ours.

    We [should] care only about legal immigrants and not have even a whiff of supporting illegal immigration in any form and from any country. For a long time now, the word immigration has been expanded to mean Latino immigrants and only Wall Street Journal takes care to single out that immigration from countries like India is of a different hue (more knowledge based), than immigration from Mexico (more labor intensive).

    Bottom line, aligning ourselves with the Latino agenda is bad policy and politics and a losing proposition.

    FYI English_August, I'm sure you know this but there's a not so fine distinction between illegal immigration and Latino immigration. While the overwhelming majority of illegal immigrants today are likely from Mexico, let me ask this question of you and other people on this forum. How many estimated (govt. estimates) illegal immigrants are in the US today from India? China? Philippines? Any ideas? The numbers will blow your mind. Guaranteed.

    Like it or not, legal immigration reform could well come packaged with comprehensive immigration reform (CIR) next year, which will primarily deal with illegal immigration.

    As for Dobbs the right-wing nutjob, I am sure that people have noticed that he has stopped talking about immigration since election day. Why do people care about him? His misinformation campaign fell flat on its face anyway.





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  • Macaca
    05-25 08:17 PM
    Cleaning Up Congress (http://www.washingtonpost.com/wp-dyn/content/article/2007/05/24/AR2007052402118.html) The House gives lobbying reform a boost, but the battle is far from over, Friday, May 25, 2007

    IT WASN'T EASY, it wasn't pretty and the battle isn't over, but the House managed yesterday to pass a credible ethics bill that would require lobbyists to disclose the bundles of campaign checks they round up for lawmakers. The lopsided 382 to 37 vote belied the ferocious behind-the-scenes opposition to the bundling provision. Few lawmakers were willing to cast a public vote to oppose letting their constituents know what the lawmakers themselves are already keenly aware of: just how much they are indebted to which lobbyists. In private, however, many Democrats fought to prevent the vote. It was only the steadfastness of Speaker Nancy Pelosi (D-Calif.), Caucus Chairman Rahm Emanuel (D-Ill.) and Reps. Chris Van Hollen (D-Md.) and Martin T. Meehan (D-Mass.) that brought the measure to the floor. House Judiciary Committee Chairman John Conyers Jr. (D-Mich.) served a key role in offsetting the opposition of some members of the Congressional Black Caucus.

    It's critical now that the bundling provision not be killed in the quiet of a conference committee. The Senate version of lobbying reform contains a slightly different bundling provision, which can easily be reconciled with the House measure.

    Other provisions of the bill approved by the House yesterday would provide for more frequent and detailed disclosure, including lobbyists' contributions to lawmakers' charities. To win support for the bundling amendment, reformers had to abandon their effort to double, from one year to two, the cooling-off period for lawmakers and staff who leave the Hill for lobbying jobs. The Senate-passed lobbying bill includes this effort to slow the revolving door. That, too, should be part of the final package. In addition, the work of the House will not be complete until a credible ethics process is in place, one that includes an independent office to assess and investigate allegations of unethical conduct. A Pelosi-appointed task force is expected to come up with a proposal soon. That will be the Democratic majority's next test.



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  • Marphad
    01-08 02:28 PM
    All the religeous books were written based on contemporary circumstances. I have a friend named Mansuri, mentioned to me once why muslims don't eat turtles:

    "Few animals with hard shell were not hygenic or dangerous like crocodile. It was difficult to explain each animal separately to common people. So Mohammad advised that animals with hard shell should not be eaten. "

    Another one told by my friend Maqsood:

    "There were lots of cabella wars going on at the time of Mohammad. The prophet allowed to have more than one wives so that those ladies don't go on wrong route like prostitution. "


    Above examples seem acceptable over that time. At today they are not relevant anymore. Some people still want to follow the same words spoken 1300 years before literally without applying a slightest brain. They are abused and misguided by some selfish Mullahs who have their own agenda in life.

    Rather than abusing entire community, need to educate "spoiled kids" how they are misguided in current time. Unfortunately percentage of "spoiled kids" are very high as I mentioned in one of posts before.





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  • wellwisher02
    03-29 09:02 AM
    o.k. ..I guess it was the beer that I had made my post confusing. what I am saying is even now home prices are inflated ..see mariners post above. GC is the main hurdle and it will take around 1.5 years to get it ...I guess by that time prices would have corrected and that is when I would buy it.
    if I had got GC 1 year back ..would I have purchased it ..a big NO.
    last point ..even when I buy the house ..I wont think of it as an investment ..because we will never see those appreciations again ..look around, there is no shortage of land whatsoever.
    having a GC simplifies things as I have one less thing to worry about and I can then atleast start looking.
    on EAD ..I won't even waste gas to look around ..
    even in california ..as far as I know ..it is because of excessive regulation that the RE is so pricey ..as other countries and places in US open up and become innovation centres ..regulations would become less or else price appreciation would come down in california.
    BTW even I say it depends on one's situation ....some of my friends have extended families in US or their kids are grown up and they need space (some of them are renting their basements to a relative) ..in such cases it definitely makes sense to buy a house.
    if it makes u feel better ..in my view ..long term prices will go up ..at around 4% once the correction is done (2010or 2011). at the same time for e.g when prices in atlanta drop by 4.5 percent (as in last case S index) ..the real drop is 7% when you take inflation in account.
    one last example ..one of my batchmates in engg had purchased a house in san diego at the height of the bubble (750K) ..when I mentioned the bubble ..he said I don't care ..I like to live high or whatever ..now his house is in foreclosure

    Hello,

    Buying a house is good or bad based on your homework you've done or need to do. I did not buy a house until I was close to my EAD. However, a couple of my wife's friends purchased their 'home' even when they were on H1B. This happened in California where the house value is astronomically high when compared to other places (like Texas, Arizona, Virginia, Chicago, etc). They lived in their home for 3-4 years, still didn't get their GC, sold their house and collected a huge profit of $200K and moved to over Texas. This happened in early 2006. They took the risk which worked out well for them ...meaning they were constantly on projects.

    You gotta live in a place like CA to make reasonable profits. I am at present in VA, having bought a house there. I bought in Nov 2006 when real estate began to crash. As I speak I didn't make any equity. How much equity will I build in the next 2 years. This is anybody's guess ...maybe 10K or 20K, assuming real estate problems are bottoming out.



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  • seattleGC
    05-16 05:18 PM
    That's called pandering. To unions like IEEE and hispanic vote base. These ppl don't have any interest in America's competitiveness or interests of people at large rather work in the interests of their party and their re-election.

    But I am suprised at the attitudes of some forums members who want to screw the ppl behind us.
    Anyway I agree, we should be worried about delays to i-485 processing if 11 million ppl are added to USCIS queue.


    I know where Senator Durbin stands on illegal immigration issue , he is totally for amnesty/legalization of illegal/undocumented people in the country. According to him its ok if someone is totally undocumented and stays here but its not ok if someone does consulting and documented and pays taxes while working and waiting for the green card to be approved. Isn't it height of hypocrosy?

    Where do people like mbdriver and senthil stand on the issue of legalization/amnesty for illegal/undocumented people in the country? If the legalization were to happen these are the kind of people who complain saying illegal aliens have slowed down our green card petetions. If legalization were to happen processing of every petetion at USCIS will slow down considerably. I will not surprised if 485 takes 4.85 years or 48.5 years or 485 years ...:)

    Which one is a bigger problem 12 to 15 million people totally undocumented or perceived misuse of visa petetions by few bad apples.





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  • rockstart
    07-14 08:28 AM
    In the letter Phani mentions DOL asked companies to file EB3 instead of EB2 because of slow economy in 2001-2002. Is there any official communication regarding this? According to my understanding of the process and rules. It is job requirement that drives the labor category (EB2 or EB3). Most jobs require bachelors degree with some experience and hence are classified as EB3. There are other jobs that need more skills ( according to employer and endorsed by DOL) which also demand little more salary. These get qualified as EB2 and then there are speacialist jobs that require very highly qualified people which are EB1. Its employers responsiblity to convince the DOL in labor and I140 stage that he needs a guy for a specialist job (EB2) and that he can afford to pay the candidate. Whether economy is slow or Fast if as an employer I have the money to pay the candidate and I have a need for his skills I can file and definately get my EB2 approved. I think what happened in 2001 was since economy was slow and companies were not doing great financially the lawyers must have cautioned the employers against filing EB2 since DOL could audit it and if comapnies are not doing good they might not be able to justify the Eb2 salaries. That is my guess please correct me if I am wrong. DOL will never advice companies to file EB2 or EB3 their job is to validate the job requirement A2P and Candidates qualifications.



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  • satishku_2000
    05-16 05:12 PM
    Both are problems. The misuse of H-1B visa petitions prevent honest people from obtaining such a visa. That is not right. The issue of the illegal immigrants in this country is an ugly one as well. In my personal opinion, I do not believe any talks of amnesty should affect people with green card petitions pending. People given amnesty should go to the very back of the line and pay a serious fine on top of that.


    In earlier posts you were talking about how people have to leave if they can not get their H1 renewed under new law saying some one who cannot find "real job" should leave.

    What kind of real jobs these undocumented people have , that your beloved Senator loves them so much ? Shouldn't they be deported first according to you law and order folks?





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  • StuckInTheMuck
    08-05 02:13 PM
    Dick Cheney walks into the Oval Office and sees The President whooping and hollering.

    "What's the matter, Mr. President?" The Vice President inquired.

    "Nothing at all, Dickie. I just done finished a jigsaw puzzle in record time!" The President beamed.

    "How long did it take you?"

    "Well, the box said '3 to 5 Years' but I did it in a month!"





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  • dealsnet
    01-07 04:49 PM
    You lived in India and hate India, because of your wicked religion.
    Equating Bombay with Palastine is only a traitor can do.
    Even passive support is act of betrayel.
    Evil will be destoyed, it is God's will. They are preparing the kids for suicide bomber. So it is their fate to die little early, without harming any one.
    Any way your religion and its founder are blasphamy for real children of God.
    Only retard minded can follow it. Do suicide bomb to get 72 virgins. If any one of the virgin is a lesbian, what will do ?. If the guy is old, do he get viagara???They don't know in heaven no sex. No flesh, people in spiritual state.

    I know you won't respond me anymore. Because you know your believe/ideology/prophecy/unjust acts will be exposed here.





    mariner5555
    03-23 11:14 PM
    I agree he will loose his down payment or credit score in case of things going south on GC side but still he will be able to do whatever is best for his long term goals now and he will be better off in terms of equity when real estate market bounces back in 3-4 years.There are lucrative deals in the market and renting does not make any sense. There is always a risk factor and u can cover your risks accordingly. Anywaz What exactly ur going to do with Credit Score after u are kicked out from here ? So why not take risk now and play the game.
    why do you say that renting does not make any sense ?? credit score would matter if a person gets a better oppurtunity and decides to come back - screwing up yr credit is like burning a bridge. In my humble opinion real estate won't bounce back - it may limp back in majority of the areas. ofcourse housing is local ..





    eb2dec2005
    08-22 11:57 AM
    Little Johny's first day in pre-school, the teacher gave a little test. She asked the kids to close their eyes and stick the tongue out. She then put honey drops and asked them to guess what it is. When no one was able to, the teacher decided to give a hint.

    "children, its how your mom calls your dad.. well, most of the time anyways"

    On hearing this, Little Johny screamed, "SPIT IT OUT GUYS... ITS A** HOLE"


    I really cracked up reading this joke. :)



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