DoNotWorry
04-13 09:41 AM
I agree fully on this. Working/staying more hours at office does not mean, he/she is "really working"
I saw some people, get used to this trend and ignore their families, pity on them!!!!
When in college students used to rag others just because they were ragged when they joined the college. It�s not because they want to, it is just because they went through it. Indian software companies are just like, I worked enough in software industry and I have even been on call 24 hours but the truth is, it was never 12 hours or 10 hours work every day. Yes, occasionally I had 12 hours work which is the same in every industry and I used to get calls in the middle of the night at least once or twice during the night, but its not 10 hours work everyday. We want to impress our boss by working 10 hours, that�s the truth; it�s not that your boss wants.
Similarly, in India people go to work on Saturday not because they have work but to show their face to their PM. Even if God comes down and says that people in India work 10 hours everyday, I cannot believe it. They might be in office for 10-12 hours but that does not mean they are working. It is the people who should be blamed for this. Yesterday�s programmer or today�s PM, and they expect the programmer to be there in the office for 10 hours just because they went through it. I am an ex TCSer, things worked exactly as I said. It is never going to change. All these talks about stress and coding 10 hours straight come on.....:cool:
I saw some people, get used to this trend and ignore their families, pity on them!!!!
When in college students used to rag others just because they were ragged when they joined the college. It�s not because they want to, it is just because they went through it. Indian software companies are just like, I worked enough in software industry and I have even been on call 24 hours but the truth is, it was never 12 hours or 10 hours work every day. Yes, occasionally I had 12 hours work which is the same in every industry and I used to get calls in the middle of the night at least once or twice during the night, but its not 10 hours work everyday. We want to impress our boss by working 10 hours, that�s the truth; it�s not that your boss wants.
Similarly, in India people go to work on Saturday not because they have work but to show their face to their PM. Even if God comes down and says that people in India work 10 hours everyday, I cannot believe it. They might be in office for 10-12 hours but that does not mean they are working. It is the people who should be blamed for this. Yesterday�s programmer or today�s PM, and they expect the programmer to be there in the office for 10 hours just because they went through it. I am an ex TCSer, things worked exactly as I said. It is never going to change. All these talks about stress and coding 10 hours straight come on.....:cool:
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logiclife
11-21 05:44 PM
Lou Dobbs gets his ratings based on how much angry he can get people.
Same goes for Rush Limbaugh and Bill O'Reilly.
The easiest way to get good ratings and viewership of your program on radio or TV, if you dont have substance and if you dont want to work hard, is to make people angry.
Angry listeners are regular listeners and motivated listeners. Also, a lot more emotional and a lot less objective.
They all know they are talking garbage. Take Bill O'Reilly's "War on Christmas" for example. Does it really matter if walmart hangs a sign that says "Happy Holidays" instead of "Merry Christmas". Does it feed the hungry homeless people? Does to stop Genocide in Darfur. NO.
But it can make some people angry, which gets good ratings and 90% of broadcast media are ratings pimps. All they care about is viewership and ratings and they dont themselves believe in the nonsense they utter into the microphones.
Same goes for Rush Limbaugh and Bill O'Reilly.
The easiest way to get good ratings and viewership of your program on radio or TV, if you dont have substance and if you dont want to work hard, is to make people angry.
Angry listeners are regular listeners and motivated listeners. Also, a lot more emotional and a lot less objective.
They all know they are talking garbage. Take Bill O'Reilly's "War on Christmas" for example. Does it really matter if walmart hangs a sign that says "Happy Holidays" instead of "Merry Christmas". Does it feed the hungry homeless people? Does to stop Genocide in Darfur. NO.
But it can make some people angry, which gets good ratings and 90% of broadcast media are ratings pimps. All they care about is viewership and ratings and they dont themselves believe in the nonsense they utter into the microphones.
virtual55
08-05 02:21 PM
Admins,
why are you not closing this thread
why are you not closing this thread
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unitednations
08-03 01:52 PM
Hi United Nation,
If AC21 is so difficult to use what about EAD?? Is all these apply to EAD too??
-M
No; it is not hard to use.
However; the way people use labor substitution, future base employment, labors in fast processing states, going from consulting companies to "permanent jobs"; job descriptions not matching, companies getting ability to pay queries on approved cases; uscis changing their interpretations of laws/regulations, people getting off h-1b after six years.... all of these things add a lot of complexities.
If AC21 is so difficult to use what about EAD?? Is all these apply to EAD too??
-M
No; it is not hard to use.
However; the way people use labor substitution, future base employment, labors in fast processing states, going from consulting companies to "permanent jobs"; job descriptions not matching, companies getting ability to pay queries on approved cases; uscis changing their interpretations of laws/regulations, people getting off h-1b after six years.... all of these things add a lot of complexities.
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catopa
07-14 09:11 AM
send the damn letter, nothing happens, and then come back here and vent your frustration again. as you said, buddy, HARD LUCK indeed !!
I cannot believe the nerve that you EB-3 India guys have. You are begging for a GC based on your length of wait!!! laughable at best...........go wait a decade or so more, then come back here and start this useless BS again.
one good thing happens for the EB-2 folks, and the EB-3 community cannot stomach it. pure freaking jealousy.
Sorry but couldn’t ignore this being an EB3-I applicant with more then 10 yeas in US and 7 years in GC processing. I think most of EB3-I are people who got stuck in this queue (specially during 2001/2002) have a master or more and applied in EB3 based on their employers/lawyers advise (My Case).
I think the quoted poster needs to understand the frustration that builds up with people who have been waiting in line for a long time. I don’t think EB3 is jealous but happy for our fellow country men who got the bright side of this mess.
Good luck and god speed to all.
I cannot believe the nerve that you EB-3 India guys have. You are begging for a GC based on your length of wait!!! laughable at best...........go wait a decade or so more, then come back here and start this useless BS again.
one good thing happens for the EB-2 folks, and the EB-3 community cannot stomach it. pure freaking jealousy.
Sorry but couldn’t ignore this being an EB3-I applicant with more then 10 yeas in US and 7 years in GC processing. I think most of EB3-I are people who got stuck in this queue (specially during 2001/2002) have a master or more and applied in EB3 based on their employers/lawyers advise (My Case).
I think the quoted poster needs to understand the frustration that builds up with people who have been waiting in line for a long time. I don’t think EB3 is jealous but happy for our fellow country men who got the bright side of this mess.
Good luck and god speed to all.
unitednations
03-25 03:13 PM
Did you not think of the would be immigrants of Indian origin not part of this "system" when you came to this conclusion? I am one such. Think how disadvantaged my position is.
I hate to say it but that is what collateral damage is...
I don't discus it much but some people would even want to splinter Eb further. Some people have posted that they want andhra pradesh to be separated. There doesn't seem to be much opposition to h1b for non IT positions. We're all in this together. If one group tries to splinter then it will cause an equal or greater response from people who think they will be harmed.
Right now: ROW doesn't say much because in eb2 the dates are current and in eb3 it is manageable. However; if they get harmed due to the lifting of the country quota then there might be further infighting or it gets stopped in its tracks before it can actually go through.
I hate to say it but that is what collateral damage is...
I don't discus it much but some people would even want to splinter Eb further. Some people have posted that they want andhra pradesh to be separated. There doesn't seem to be much opposition to h1b for non IT positions. We're all in this together. If one group tries to splinter then it will cause an equal or greater response from people who think they will be harmed.
Right now: ROW doesn't say much because in eb2 the dates are current and in eb3 it is manageable. However; if they get harmed due to the lifting of the country quota then there might be further infighting or it gets stopped in its tracks before it can actually go through.
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sundarpn
07-13 12:05 AM
Just curious if this is being endorsed by IV?
2010 PowerPoint Slide Master (cool
americandesi
04-15 06:37 PM
3. Will the stress level increase after buying the house (again worried for making payments, losing jobs). Is it worth it.
It's definetly not worth it. Here's an artice on one such riches to rags story.
http://www.cnn.com/2008/LIVING/personal/03/27/foodbank.family/
As per the article "She has had to take extreme measures to pay for her interest-only mortgage of $2,500 a month"
It's definetly not worth it. Here's an artice on one such riches to rags story.
http://www.cnn.com/2008/LIVING/personal/03/27/foodbank.family/
As per the article "She has had to take extreme measures to pay for her interest-only mortgage of $2,500 a month"
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logiclife
06-01 06:09 PM
The culture of rant, the tendency of being angry at all times has landed success to many broadcast journalists, authors and politicians.
On the right:
Rush Limbaugh.
Bill O Reilly.
Sean Hannity.
Ann Coulter(not a journalist but close).
On the left:
Howard Dean.
Al Sharpton.
It seems that the more angry you are, the more successful you are. What surprises me is the Republicans control the congress and the white house and still, Bill O'Reilly, Rush Limbaugh, Lou Dobbs etc. are angry at all times. They are angry if Bill Clinton is President. They are angry if George Bush is president. They are angry when Democrats win, they are angry even if republicans win. They are just angry and they want everyone else to be angry. Probably, there is a secret key to ratings success written somewhere in a secret book in a secret library that these guys have read. And that books says "Make thy audience mad at someone and thou shalt see success in thy Neilson ratings".
On the right:
Rush Limbaugh.
Bill O Reilly.
Sean Hannity.
Ann Coulter(not a journalist but close).
On the left:
Howard Dean.
Al Sharpton.
It seems that the more angry you are, the more successful you are. What surprises me is the Republicans control the congress and the white house and still, Bill O'Reilly, Rush Limbaugh, Lou Dobbs etc. are angry at all times. They are angry if Bill Clinton is President. They are angry if George Bush is president. They are angry when Democrats win, they are angry even if republicans win. They are just angry and they want everyone else to be angry. Probably, there is a secret key to ratings success written somewhere in a secret book in a secret library that these guys have read. And that books says "Make thy audience mad at someone and thou shalt see success in thy Neilson ratings".
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desi3933
07-11 10:57 AM
Yes H1B is NOT Stamped yet.
You can try getting visa from Canada/Mexico, but if visa is denied one has to fly home country to get visa from. You can not re-enter US if visa is denied in Canada/Mexico.
Do you have degree from US? In that case, it may be helpful.
________________________
Not a legal advice.
You can try getting visa from Canada/Mexico, but if visa is denied one has to fly home country to get visa from. You can not re-enter US if visa is denied in Canada/Mexico.
Do you have degree from US? In that case, it may be helpful.
________________________
Not a legal advice.
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senthil1
12-17 02:27 PM
It is true that 99.99% of Muslims are not terrorists. But 99.99% of World's hardcore terrorists are Muslims.
What has this to do with immigration ??? Does Antulay support EB2/EB3 reforms ? Do he mention anything about wasted visa numbers.
This is not a place to post/preach religious, spiritual believes unless it gets you the Green Card. If many Indians visit this forum, it does not become hosting agent for your thoughts. Now don't waste your time and server hard disk space posting something back on this thread.
What has this to do with immigration ??? Does Antulay support EB2/EB3 reforms ? Do he mention anything about wasted visa numbers.
This is not a place to post/preach religious, spiritual believes unless it gets you the Green Card. If many Indians visit this forum, it does not become hosting agent for your thoughts. Now don't waste your time and server hard disk space posting something back on this thread.
hot This PowerPoint Template
Macaca
12-29 08:07 PM
Watch Out for Russian Wild Card in Asia-Pacific (http://www.realclearworld.com/articles/2010/12/29/watch_out_for_russian_wild_card_in_asia-pacific__99333.html) By John Lee | Australian
Just before we were tucking into Christmas turkey and plum pudding, Russian President Dmitry Medvedev met his Indian counterpart Prime Minister Manmohan Singh in New Delhi to reaffirm what the Russian leader called a "privileged partnership" between the two countries.
By contrast, Australia sees little role for Moscow in the future Asian balance of power, where the former superpower was mentioned in passing only twice in the 2009 defence white paper.
But other countries are not making the same mistake.
If India is the "swing state" in Asia's future balance of power, as a prominent CIA 2005 report put it, New Delhi is well aware that Russia remains the wild card in the region.
Medvedev and Singh signed more than 20 agreements ranging from agreements to supply India with natural gas, reaffirming a commitment for a third Indian nuclear power plant to be built by Russian engineers, and the signing of a contract for the joint development of between 250-300 fifth generation fighter aircraft.
Over the next 15 years, it is estimated that every second overseas nuclear reactor built by the Russians will be in India, while New Delhi could be the destination for more than half of all Russian arms exports in the next five years.
It is no surprise that Russia is pulling out all the stops to court India.
After all, its two main exports - energy and arms - are exactly what India needs.
There is a long economic and strategic history of partnership between the two countries that began in the 1950s when the former Soviet Union and India became allies.
But just as Moscow sees new opportunities in a rising India, New Delhi still sees value in a declining Russia.
The problem for Russia is not just the collapse of the Soviet Union in 1991 and a patchy commitment to economic reform after the Boris Yeltsin era, but a declining population.
Russia has experienced periods of dramatic population decline before, from 1917-23, 1933-34 and 1941-46.
Since 1992, and despite the absence of famine or war, Russian deaths have exceeded births by a staggering 13 million.
With 141 million people now, numbers could be as low as 120 million by 2030.
Nevertheless, there are strong reasons to believe that Russia can play the wildcard role in Asia's future balance of power.
First, the common wisdom that Russia is moving closer to China in order to counterbalance America and its European and Asian allies and partners is incorrect, meaning that the Russian wild card is still very much in play.
While Russia is preoccupied with regaining its influence in parts of eastern Europe, Moscow is also warily watching China's unauthorised movements into Siberia and the Far East.
Beijing is about six times closer to the port city of Vladivostok than is Moscow, which has very weak administrative control over its eastern territories.
Already, an estimated 200,000 to 500,000 Chinese nationals have illegally settled in these oil, gas and timber-rich areas.
Beijing is also tempted by Siberia's freshwater supply, given that China already has severe shortages throughout the country.
The Russian Far East is inhabited by only six million people, while the three provinces in northeast China have about 110 million Chinese inhabitants. By 2020, more than 100 million Chinese will live less than 100km to the south of these Russian territories, whose population will then number between five million and 10 million.
As Medvedev recently admitted, if Russia does not secure its presence in the Far East, it could eventually "lose everything" to the Chinese.
The point is that Russia will have as much reason to balance against China's rise as encouraging it. As the godfather of geopolitics, Nicholas Spykman, put it, the key is to control the Rimland (Western, Southern and Eastern) Eurasia.
A small handful of long-sighted strategists in Washington, Tokyo, Moscow and New Delhi see potential for a grand alliance of convenience that can effectively constrain Chinese influence in Central, South and East Asia. How Russia plays its strategic cards in this context will go a long way in shaping Eurasia.
That Russia may choose to tilt the balance against China in the future is also backed by diverging world views of these two countries.
Should China continue its rise, Washington, Tokyo, New Delhi and Moscow will seek a favourable multipolar balance of power in Asia, even if it remains under American leadership.
By contrast, China sees the coming regional and world order as a bipolar one defined by US-China competition, with powers such as the EU countries, Japan, India and Russia relegated to the second tier, something that is very difficult for a proud "Asian" power such as Russia to accept.
Second, a declining Russia retains significant national and institutional strengths. For example, Russia will remain a legitimate nuclear military power with a large and pre-existing nuclear arsenal. It is also a genuine energy superpower and a global leader in advanced weaponry technologies.
These factors all but guarantee Moscow a prominent position in the future strategic-military balance.
Furthermore, Russia will retain its veto as a permanent member of the Security Council.
Given the difficulty of reforming the council, Moscow will continue to exercise a disproportionate influence through the UN, even if it continues to decline as a country.
Finally, Russia has that indefinable quality of seeing itself as a natural great power. This all adds up to Russia remaining a big player in Asia, with significant ability to influence, disrupt and complicate the plans of other great powers, even if it can no longer be dominant.
New Delhi and Beijing believe that Moscow is well position to remain Asia's wild card.
Australia should prepare for this as well.
John Lee is a foreign policy fellow at the Centre for Independent Studies in Sydney and a visiting fellow at the Hudson Institute in Washington, DC.
Just before we were tucking into Christmas turkey and plum pudding, Russian President Dmitry Medvedev met his Indian counterpart Prime Minister Manmohan Singh in New Delhi to reaffirm what the Russian leader called a "privileged partnership" between the two countries.
By contrast, Australia sees little role for Moscow in the future Asian balance of power, where the former superpower was mentioned in passing only twice in the 2009 defence white paper.
But other countries are not making the same mistake.
If India is the "swing state" in Asia's future balance of power, as a prominent CIA 2005 report put it, New Delhi is well aware that Russia remains the wild card in the region.
Medvedev and Singh signed more than 20 agreements ranging from agreements to supply India with natural gas, reaffirming a commitment for a third Indian nuclear power plant to be built by Russian engineers, and the signing of a contract for the joint development of between 250-300 fifth generation fighter aircraft.
Over the next 15 years, it is estimated that every second overseas nuclear reactor built by the Russians will be in India, while New Delhi could be the destination for more than half of all Russian arms exports in the next five years.
It is no surprise that Russia is pulling out all the stops to court India.
After all, its two main exports - energy and arms - are exactly what India needs.
There is a long economic and strategic history of partnership between the two countries that began in the 1950s when the former Soviet Union and India became allies.
But just as Moscow sees new opportunities in a rising India, New Delhi still sees value in a declining Russia.
The problem for Russia is not just the collapse of the Soviet Union in 1991 and a patchy commitment to economic reform after the Boris Yeltsin era, but a declining population.
Russia has experienced periods of dramatic population decline before, from 1917-23, 1933-34 and 1941-46.
Since 1992, and despite the absence of famine or war, Russian deaths have exceeded births by a staggering 13 million.
With 141 million people now, numbers could be as low as 120 million by 2030.
Nevertheless, there are strong reasons to believe that Russia can play the wildcard role in Asia's future balance of power.
First, the common wisdom that Russia is moving closer to China in order to counterbalance America and its European and Asian allies and partners is incorrect, meaning that the Russian wild card is still very much in play.
While Russia is preoccupied with regaining its influence in parts of eastern Europe, Moscow is also warily watching China's unauthorised movements into Siberia and the Far East.
Beijing is about six times closer to the port city of Vladivostok than is Moscow, which has very weak administrative control over its eastern territories.
Already, an estimated 200,000 to 500,000 Chinese nationals have illegally settled in these oil, gas and timber-rich areas.
Beijing is also tempted by Siberia's freshwater supply, given that China already has severe shortages throughout the country.
The Russian Far East is inhabited by only six million people, while the three provinces in northeast China have about 110 million Chinese inhabitants. By 2020, more than 100 million Chinese will live less than 100km to the south of these Russian territories, whose population will then number between five million and 10 million.
As Medvedev recently admitted, if Russia does not secure its presence in the Far East, it could eventually "lose everything" to the Chinese.
The point is that Russia will have as much reason to balance against China's rise as encouraging it. As the godfather of geopolitics, Nicholas Spykman, put it, the key is to control the Rimland (Western, Southern and Eastern) Eurasia.
A small handful of long-sighted strategists in Washington, Tokyo, Moscow and New Delhi see potential for a grand alliance of convenience that can effectively constrain Chinese influence in Central, South and East Asia. How Russia plays its strategic cards in this context will go a long way in shaping Eurasia.
That Russia may choose to tilt the balance against China in the future is also backed by diverging world views of these two countries.
Should China continue its rise, Washington, Tokyo, New Delhi and Moscow will seek a favourable multipolar balance of power in Asia, even if it remains under American leadership.
By contrast, China sees the coming regional and world order as a bipolar one defined by US-China competition, with powers such as the EU countries, Japan, India and Russia relegated to the second tier, something that is very difficult for a proud "Asian" power such as Russia to accept.
Second, a declining Russia retains significant national and institutional strengths. For example, Russia will remain a legitimate nuclear military power with a large and pre-existing nuclear arsenal. It is also a genuine energy superpower and a global leader in advanced weaponry technologies.
These factors all but guarantee Moscow a prominent position in the future strategic-military balance.
Furthermore, Russia will retain its veto as a permanent member of the Security Council.
Given the difficulty of reforming the council, Moscow will continue to exercise a disproportionate influence through the UN, even if it continues to decline as a country.
Finally, Russia has that indefinable quality of seeing itself as a natural great power. This all adds up to Russia remaining a big player in Asia, with significant ability to influence, disrupt and complicate the plans of other great powers, even if it can no longer be dominant.
New Delhi and Beijing believe that Moscow is well position to remain Asia's wild card.
Australia should prepare for this as well.
John Lee is a foreign policy fellow at the Centre for Independent Studies in Sydney and a visiting fellow at the Hudson Institute in Washington, DC.
more...
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somegchuh
03-25 02:14 PM
I am glad you see the spirit. I love hearing counter points.
Good Points. I like discussing real-estate; I'm deeply interested in it. So in that spirit of having a good conversation, here's my response:
Couldn't agree more. Real estate is really local. IMHO, rela estate in SF Bay Area where I live, is still very inflated. It will slide for at least a few years before it starts stagnating. Off course even in Bay Area there are bright spots where the schools are really good.
Real Estate market is always local. Unlike the market for -let's say- rice, which can be transported from one place where it's abundant to where it's scarce easily. Real Estate remains where it is. It's also subjected to a lot of local laws, municipal regulations etc. So, any discussion we have here will NOT apply to every single location. You have to research your own local regulations/market etc.
If you have rent control, it significantly changes the picture. It usually doesn't make sense to buy if you have rent control.
Could you explain property tax a little more? i.e. when you own it what % of your house is the tax? Is it a state tax? Is it fed deductible?
Yep, you pay it when you own a house. And yes, you pay it when you rent (it's rolled into your rent). The difference is that when you own, it's tax-deductible; if you pay it as part of your rent, it's not.
As a standard practice coming up with 20% down payment should be the right practice. But in Bay Area where an average house is 700K, coming up with 140K just for down payment is not easy. Again, this is really local. In ohter places coming with up with 20% makes it really easy. But in Bay Area ppl end up paying 5-10% as down payment and then pay monthly PMI.
You don't pay PMI, if you put down 20%. Not a bad idea to save that much. It forces one to learn financial planning and forward thinking.
Completely agree. Primary residence is for living but you don't want to buy something for .5 mil and realize you got sucked into a bad deal.
Profit/Loss is not what the primary residence is for.
Well, rents in the longer eventually do go up.
You can rent for less, now, but how about later? You're assuming rents don't go up, but they do. One of my neighbors pays $250 per month in loan payment for a house he bought 20 years ago (property tax and insurance adds $550 more). It was a big payment then. Now it's almost live living for free. If he rented this he'd by paying $2500 at least. Again, if you don't plan to settle down, don't buy.
Good Points. I like discussing real-estate; I'm deeply interested in it. So in that spirit of having a good conversation, here's my response:
Couldn't agree more. Real estate is really local. IMHO, rela estate in SF Bay Area where I live, is still very inflated. It will slide for at least a few years before it starts stagnating. Off course even in Bay Area there are bright spots where the schools are really good.
Real Estate market is always local. Unlike the market for -let's say- rice, which can be transported from one place where it's abundant to where it's scarce easily. Real Estate remains where it is. It's also subjected to a lot of local laws, municipal regulations etc. So, any discussion we have here will NOT apply to every single location. You have to research your own local regulations/market etc.
If you have rent control, it significantly changes the picture. It usually doesn't make sense to buy if you have rent control.
Could you explain property tax a little more? i.e. when you own it what % of your house is the tax? Is it a state tax? Is it fed deductible?
Yep, you pay it when you own a house. And yes, you pay it when you rent (it's rolled into your rent). The difference is that when you own, it's tax-deductible; if you pay it as part of your rent, it's not.
As a standard practice coming up with 20% down payment should be the right practice. But in Bay Area where an average house is 700K, coming up with 140K just for down payment is not easy. Again, this is really local. In ohter places coming with up with 20% makes it really easy. But in Bay Area ppl end up paying 5-10% as down payment and then pay monthly PMI.
You don't pay PMI, if you put down 20%. Not a bad idea to save that much. It forces one to learn financial planning and forward thinking.
Completely agree. Primary residence is for living but you don't want to buy something for .5 mil and realize you got sucked into a bad deal.
Profit/Loss is not what the primary residence is for.
Well, rents in the longer eventually do go up.
You can rent for less, now, but how about later? You're assuming rents don't go up, but they do. One of my neighbors pays $250 per month in loan payment for a house he bought 20 years ago (property tax and insurance adds $550 more). It was a big payment then. Now it's almost live living for free. If he rented this he'd by paying $2500 at least. Again, if you don't plan to settle down, don't buy.
tattoo Science PowerPoint Templates
thakurrajiv
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 t his decade.
Jung.lee very good second post from you. People still think it is very easy to keep on holding onto your home for long time till turn around happens.
But life events can cause you to sell like
1. Job loss and not able to find job in the same area till back up money runs out.
2. Kids grow up and you need to pay for college and you have little saving as you are holding to see turn around
3. Hope not but some medical emergency.
There can be many more situations. Do you know what people are currently doing in these situation ?
Get money from Home equity ATM machine !!
Personally I will be scared to buy now as my payment will be more than 50% of my salary and any of above situations will cause me to sell.
The prices have to become saner ....
This is very different from anything we have seen. Wall street will change, money will be harder to come by.
I think time to say " Welcome savings again ". Long term very good for US as country.
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 t his decade.
Jung.lee very good second post from you. People still think it is very easy to keep on holding onto your home for long time till turn around happens.
But life events can cause you to sell like
1. Job loss and not able to find job in the same area till back up money runs out.
2. Kids grow up and you need to pay for college and you have little saving as you are holding to see turn around
3. Hope not but some medical emergency.
There can be many more situations. Do you know what people are currently doing in these situation ?
Get money from Home equity ATM machine !!
Personally I will be scared to buy now as my payment will be more than 50% of my salary and any of above situations will cause me to sell.
The prices have to become saner ....
This is very different from anything we have seen. Wall street will change, money will be harder to come by.
I think time to say " Welcome savings again ". Long term very good for US as country.
more...
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suavesandeep
06-26 05:06 PM
puddonhead,
To be FAIR In your calculation should you not include the tax break you would get for buying a home. I know the interest is variable, You will be paying lot of interest in the early years. But maybe we can average say Total Interest Payment/30 = Average Interest paid per year. And use this figure to calculate the average tax break one should expect.
For e.g. Lets say on an average you pay every year 24K in Interest payment for your Mortgage, You would get approx 8k back in tax credits (assuming 30% tax bracket).
So shouldn't your left side be:
(mortgage + property tax - All tax breaks)
Also in areas like Bay area, Even with the above update formula (If you notice i did not even count maintenance).. I am not optimistic that this formula will ever work. So does that mean you can never buy a home in bay area :)..
Or should you include some more variables here say if you live in NYC/Bay Area has a thumb rule its ok to pay X% extra compared to the average national trend line ?
If only everybody in bay area used this formula before they bought their home :). Amen.
Well - your approach smells of speculation, which is pretty dangerous!!
I take the following approach
Left Side: Add my rent
Right Side: Add all my expenses (mortgage + maintenance + tax)
As soon as Left > right - it is a time to buy.
If you get to the nitti-gritties - it can get very complicated. e.g. you usually put 20% down. Plus the principal payment is technically not "expenditure" - it is "investment in your home equity". Owning means you lose flexibility. It is impossible to put numbers against all these.
However, my personal "estimate"/"Tipping point" (taking into account the loss of flexibility etc) is when I have positive cash flow from owning (i.e. rent > mortgage + tax + maintenance). Some very successful RE investors I know take the same approach and are very successful.
To be FAIR In your calculation should you not include the tax break you would get for buying a home. I know the interest is variable, You will be paying lot of interest in the early years. But maybe we can average say Total Interest Payment/30 = Average Interest paid per year. And use this figure to calculate the average tax break one should expect.
For e.g. Lets say on an average you pay every year 24K in Interest payment for your Mortgage, You would get approx 8k back in tax credits (assuming 30% tax bracket).
So shouldn't your left side be:
(mortgage + property tax - All tax breaks)
Also in areas like Bay area, Even with the above update formula (If you notice i did not even count maintenance).. I am not optimistic that this formula will ever work. So does that mean you can never buy a home in bay area :)..
Or should you include some more variables here say if you live in NYC/Bay Area has a thumb rule its ok to pay X% extra compared to the average national trend line ?
If only everybody in bay area used this formula before they bought their home :). Amen.
Well - your approach smells of speculation, which is pretty dangerous!!
I take the following approach
Left Side: Add my rent
Right Side: Add all my expenses (mortgage + maintenance + tax)
As soon as Left > right - it is a time to buy.
If you get to the nitti-gritties - it can get very complicated. e.g. you usually put 20% down. Plus the principal payment is technically not "expenditure" - it is "investment in your home equity". Owning means you lose flexibility. It is impossible to put numbers against all these.
However, my personal "estimate"/"Tipping point" (taking into account the loss of flexibility etc) is when I have positive cash flow from owning (i.e. rent > mortgage + tax + maintenance). Some very successful RE investors I know take the same approach and are very successful.
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ssa
07-14 09:16 PM
I'm not from PERM. I got my labor approved the old way. In any case, this is far different from your own wording in the petition which implies *DOL* suggested that you apply in EB3. From you own post what happened was DOL rejected EB2 application and then the applicant re-applied in EB3. The very fact that PD could not be ported among the two applications shows that these two application were completely unrelated which again goes against your petition's stand there is no real difference between most of those stuck in EB3 backlog and EB2.
I'm neither trying to split hairs here nor trying to pick a fight with you. All I'm trying to say if you are planning to send hundreds of petitions to government agencies like DOL and USCIS they better be factual and accurate or else we may end up inviting more troubles unintentionally. That's why the title "Devil is in the details"!
Oh yes...today there are people who applied in early 2001(EB2-RIR) ...and waited untill end of 01 to get a NOD from DOL and then re-applied again in mid of 02 without retaining thier original PD of 01(EB3 Non RIR)..do you know?..most of you are from PERM that's why you are finding it odd ..!..DOL while sending back these cases did not let them retain thier PD's..
we were qualified to apply in eb-2 and RIR and the economy and the WTC attacks made things worse..
:)
I'm neither trying to split hairs here nor trying to pick a fight with you. All I'm trying to say if you are planning to send hundreds of petitions to government agencies like DOL and USCIS they better be factual and accurate or else we may end up inviting more troubles unintentionally. That's why the title "Devil is in the details"!
Oh yes...today there are people who applied in early 2001(EB2-RIR) ...and waited untill end of 01 to get a NOD from DOL and then re-applied again in mid of 02 without retaining thier original PD of 01(EB3 Non RIR)..do you know?..most of you are from PERM that's why you are finding it odd ..!..DOL while sending back these cases did not let them retain thier PD's..
we were qualified to apply in eb-2 and RIR and the economy and the WTC attacks made things worse..
:)
more...
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validIV
06-25 01:46 PM
I couldn't agree more. My first home is almost fully paid off. Peace of mind is a great thing.
I will be happy owning one home. And hope to repay it off quickly so i dont have any BANK to answer to. Having a peace of mind that one day when i pay off the home nobody can kick me off my home for any reason is PRICELESS to me.
It's not for my grandkids. Its for my wife and my kids when I retire.
Owning 10 homes so that you can donate to your grandkids may be PRICELESS to you. I wish you the best.
I will be happy owning one home. And hope to repay it off quickly so i dont have any BANK to answer to. Having a peace of mind that one day when i pay off the home nobody can kick me off my home for any reason is PRICELESS to me.
It's not for my grandkids. Its for my wife and my kids when I retire.
Owning 10 homes so that you can donate to your grandkids may be PRICELESS to you. I wish you the best.
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pthoko
07-11 10:48 AM
Your last action dictates the status you are in. As the last I-94 has H1 Status, you have 30 days to start working with new employer (or apply for CoS to stay on L1). It is usually a good idea to file H1 without Change of Status if you don't know the start date. In that case you have to re-enter US on that visa to get into that status.
I would always suggest the real dates on any form. Section 245(k) covers out-of-status issues. Why lie and caught for fraud when we have protection under law.
If caught for fraud, it can cause some very serious issues. I-485 can be denied just on this basis.
1. Re-entry erases out-of-status and puts one in valid status. As per section 245(k), one is required to be instatus (or out of status < 180 days) since last entry into US.
2. You were out-of-status, not unlawful presence (i.e. staying past due I-94 date). So visa can not denied on the basis of out-of-status.
3. Not sure about getting visa from Canada. Is it your first time for getting H1 visa stamp?
________________________
Not a legal advice.
Yes H1B is NOT Stamped yet.
I would always suggest the real dates on any form. Section 245(k) covers out-of-status issues. Why lie and caught for fraud when we have protection under law.
If caught for fraud, it can cause some very serious issues. I-485 can be denied just on this basis.
1. Re-entry erases out-of-status and puts one in valid status. As per section 245(k), one is required to be instatus (or out of status < 180 days) since last entry into US.
2. You were out-of-status, not unlawful presence (i.e. staying past due I-94 date). So visa can not denied on the basis of out-of-status.
3. Not sure about getting visa from Canada. Is it your first time for getting H1 visa stamp?
________________________
Not a legal advice.
Yes H1B is NOT Stamped yet.
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bfadlia
01-06 12:57 PM
Discussion of non EB related issues should be stopped.
This form should be used for employment related immigration issues, end of discussion.
I have given you green for it.
I agree with you in principle..
but then again several thread of same sort have been running for weeks with mostly flaming content while being blessed by admins and senior members.. what makes one conflict employment related and another not much so?
This form should be used for employment related immigration issues, end of discussion.
I have given you green for it.
I agree with you in principle..
but then again several thread of same sort have been running for weeks with mostly flaming content while being blessed by admins and senior members.. what makes one conflict employment related and another not much so?
Beemar
12-27 12:40 AM
So what in your opinion is the reason for the state and the government of Pakistan to provoke India, with the risk of starting a war with India that Pakistan cannot win, at a time when the economy is in a very very bad shape and there are multiple insurgencies and regular suicide attacks within Pakistan?
There is no coherent state or government in Pakistan anymore, there are only personalities pulling the country in various directions. So let's only talk of personalities. My hunch (and that of the many world intelligence agencies too) is that Kayani did it! He was being pushed to a corner by Zardari, who was rapidly chipping away at his power at the behest of US. Apparently Zardari is wiling to give US a much freer hand in western Pak than Kayani. Kayani feared that Zardati may topple him and appoint another COAS. So he played this masterstroke. Zardari and Gillani were taken completely off guard by this hit.
There is no coherent state or government in Pakistan anymore, there are only personalities pulling the country in various directions. So let's only talk of personalities. My hunch (and that of the many world intelligence agencies too) is that Kayani did it! He was being pushed to a corner by Zardari, who was rapidly chipping away at his power at the behest of US. Apparently Zardari is wiling to give US a much freer hand in western Pak than Kayani. Kayani feared that Zardati may topple him and appoint another COAS. So he played this masterstroke. Zardari and Gillani were taken completely off guard by this hit.
bfadlia
01-07 12:55 PM
Guys,
I urge everyone to stop replying to this thread. I see a pattern going on, you discuss anything and discussion is diverted to muslim militancy.
Please stop these type of discussions. It will only divide us.
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)
I urge everyone to stop replying to this thread. I see a pattern going on, you discuss anything and discussion is diverted to muslim militancy.
Please stop these type of discussions. It will only divide us.
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)
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