sanju
01-06 05:20 PM
Exactly, its about how many people care about the issue. If terrorists kill innocent civilians, first thing they'll say is "Islamic Terrorism". Don't tell me media around the world didn't use this term. Anything and everything blamed on religion and people following the religion. But When you kill muslims in hundreds, you won't say even a single word.
Look dude, your rants are not helping to get support for Palestine cause. To the contrary, your rants is likely to drive people away and people are likely going to be less sympathic for the palestinian people.
So you have a problem with the term "Islamic Terrorism". Why is that? Weren't the terrorist conducting such acts in the name of their religion which is islam. So whats wrong with the term "Islamic Terrorism". I don't see anything wrong with that term. Do you?
Why should I care for someone across the world? And are you going to force me to care for someone I don't care? Is that what your objective is?
Dude, why just cry over hundred of muslims when millions were slaughtered by muslims in sudan. What about the role of muslims in Sudan?
http://arabracismislamofascism.wordpress.com/2008/08/12/cbs-60-minutes-failes-to-mention-muslim-role-in-sudan-genocide/
Here is an example when press deliberatly ignores mentioning that millions were killed by who - ISLAMIC FACIST MALITIA. Why are you always blaming media for reporting what they report. A lot of times, just to be politically correct, media OVERLOOKS mentioning the IMPORTANT FACTS like millions killed by ISLAMIC FACIST MALITIA IN SUDAN.
Don't tell me members of this forum didn't blame muslims and their faith.
Big deal, people were merely expressing their opinion freely, is that bad?
Some member of this forum forum did blame muslims anf their faith, but ALL members of this forum did not blame muslims and their faith. I remember Drirshad, bafidia, budyinsfo who are members of the same forum were not blaming muslims. So ALL members of the forum were not blaiming muslims just as your assertion that ALL muslims do not support TERRORIST and TERRORISM.
Its your twisted belief that all muslims support terrorism or they defend terrorists. Its your twisted belief fed by biased media and biased religious and political leaders. I won't blame you.
Well don't, because your religious leaders preach terrorism and they are to be blamed and not me. People who follow those religious leaders who preach hate and terror are to be blamed, not me.
I hope you see what you are doing to the crowd here. Most people are sympathic towards the palenstine in some way although most people here acknowledge that Hamas is a terroist organization. But your rants are converting this crowd into justifying Isreal. Your behavior is no different than the behavior of the Palestine leaders which drive away people/counteries who are/maybe sym,pathic towards them. So please step back and question yourself, why are you deliberatly provoking this crowd by posting such stuff. What is your objective?
.
Look dude, your rants are not helping to get support for Palestine cause. To the contrary, your rants is likely to drive people away and people are likely going to be less sympathic for the palestinian people.
So you have a problem with the term "Islamic Terrorism". Why is that? Weren't the terrorist conducting such acts in the name of their religion which is islam. So whats wrong with the term "Islamic Terrorism". I don't see anything wrong with that term. Do you?
Why should I care for someone across the world? And are you going to force me to care for someone I don't care? Is that what your objective is?
Dude, why just cry over hundred of muslims when millions were slaughtered by muslims in sudan. What about the role of muslims in Sudan?
http://arabracismislamofascism.wordpress.com/2008/08/12/cbs-60-minutes-failes-to-mention-muslim-role-in-sudan-genocide/
Here is an example when press deliberatly ignores mentioning that millions were killed by who - ISLAMIC FACIST MALITIA. Why are you always blaming media for reporting what they report. A lot of times, just to be politically correct, media OVERLOOKS mentioning the IMPORTANT FACTS like millions killed by ISLAMIC FACIST MALITIA IN SUDAN.
Don't tell me members of this forum didn't blame muslims and their faith.
Big deal, people were merely expressing their opinion freely, is that bad?
Some member of this forum forum did blame muslims anf their faith, but ALL members of this forum did not blame muslims and their faith. I remember Drirshad, bafidia, budyinsfo who are members of the same forum were not blaming muslims. So ALL members of the forum were not blaiming muslims just as your assertion that ALL muslims do not support TERRORIST and TERRORISM.
Its your twisted belief that all muslims support terrorism or they defend terrorists. Its your twisted belief fed by biased media and biased religious and political leaders. I won't blame you.
Well don't, because your religious leaders preach terrorism and they are to be blamed and not me. People who follow those religious leaders who preach hate and terror are to be blamed, not me.
I hope you see what you are doing to the crowd here. Most people are sympathic towards the palenstine in some way although most people here acknowledge that Hamas is a terroist organization. But your rants are converting this crowd into justifying Isreal. Your behavior is no different than the behavior of the Palestine leaders which drive away people/counteries who are/maybe sym,pathic towards them. So please step back and question yourself, why are you deliberatly provoking this crowd by posting such stuff. What is your objective?
.
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Refugee_New
01-07 04:09 PM
I tried to stay out of this as much as I could. Can't tolerate anymore. Why the hell Narendra Modi is considered as terrorist?
I am not saying every muslim is bad. As I mentioned earlier, few of my best friends are muslims. But why the hell each and every muslim remained silent when people in Sabarmati Express were burnt alive? Hypocrates!
Because he committed Gujarat Genocide. My response was to the one who mentioned "All terrorirst are muslims".
Didn't the truth finding commission found the real culprits in Sabarmati issue?
I am not saying every muslim is bad. As I mentioned earlier, few of my best friends are muslims. But why the hell each and every muslim remained silent when people in Sabarmati Express were burnt alive? Hypocrates!
Because he committed Gujarat Genocide. My response was to the one who mentioned "All terrorirst are muslims".
Didn't the truth finding commission found the real culprits in Sabarmati issue?
go2roomshare
04-07 07:04 PM
I am not sure why we are worrying about this bill. This makes restrictions on Consulting companies, so what Clients won't be able to find people, so they do hire people as full time instead of temporary consulting position. That is good for us we can find more full time positions from client it self. I even heard that this bill makes sure H1B are paid by market rates instead of DOL wages which are often very less than market value. Good thing for us the staring salaries would be at higher rate than present rates. This bill is bad for consulting companies but good for us. Am i missing any thing here??
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kinvin
02-25 07:41 PM
Macaca,
Oh, I meant that, the quote is what Lou Dobbs would have said if Space.com would not have failed. Sorry about the confusion.
Oh, I meant that, the quote is what Lou Dobbs would have said if Space.com would not have failed. Sorry about the confusion.
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rajuram
07-13 02:20 PM
It is funny how EB2s are crying like little babies. Just a hint of EB3 getting more visas is making you guys sweat. You people have all the luck, nothing is going to happen so RELAX.
Just remember that there are a lot of EB3 out there with Masters degrees, like myself, and waiting since early 2002.
EB3s - mail out the letter PLEASE!!!!!
Just remember that there are a lot of EB3 out there with Masters degrees, like myself, and waiting since early 2002.
EB3s - mail out the letter PLEASE!!!!!
burnt
04-01 02:24 PM
Hello burnt
From my own experience USCIS actually called me directly . So don't be surprised USCIS calling your attorney. The best thing about the call was the immigration officer, verified all my info and notified on my 485 approval and my wife on that same call. It was hard to believe it , since even infopass couldn't confirm my approval. And I recieved my card in just 3 business days after the approval. So chill out , its a good thing that USCIS is trying to resolve your case. nothing to be worried about
cheers
Thanks For replying!. Just a little surprised as I was expecting an RFE for medicals, but the fact that USCIS personally calling my attorney just surprises me.
From my own experience USCIS actually called me directly . So don't be surprised USCIS calling your attorney. The best thing about the call was the immigration officer, verified all my info and notified on my 485 approval and my wife on that same call. It was hard to believe it , since even infopass couldn't confirm my approval. And I recieved my card in just 3 business days after the approval. So chill out , its a good thing that USCIS is trying to resolve your case. nothing to be worried about
cheers
Thanks For replying!. Just a little surprised as I was expecting an RFE for medicals, but the fact that USCIS personally calling my attorney just surprises me.
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yabadaba
08-11 08:24 AM
http://www.flcdatacenter.com/CaseH1B.aspx
maybe we can do an official press release showing how dumb these people are. as far as i know all this information can be downloaded directly from the flc datacenter. we need to start writing op eds against people like lou dobbs who keep skewing the debate
maybe we can do an official press release showing how dumb these people are. as far as i know all this information can be downloaded directly from the flc datacenter. we need to start writing op eds against people like lou dobbs who keep skewing the debate
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xyzgc
12-24 04:46 PM
Dude, I have donated over $ 1000 to IV so far, and participated in every campaign, and made enough calls to give me blisters, all without seeking attention or green dots. Next please?
That's great to know.
So, what exactly bothering you, friend? I know you don't like this thread but it shouldn't stop you from pursuing what you are doing, right? This is just a thread, it can be closed anytime and I think it will be closed very soon. I know you don't care about publicity and you care about the green card not just for you but also for others. In any case, believe me, any amount of red-green dots/publicity on IV/bad reputation on IV, will not make a dime worth of difference to the green cards.
Don't let such things bother you, when you have already contributed a lot towards the IV cause.
Btw, green to you. I know you don't care but I think you deserve it more than anybody else.
That's great to know.
So, what exactly bothering you, friend? I know you don't like this thread but it shouldn't stop you from pursuing what you are doing, right? This is just a thread, it can be closed anytime and I think it will be closed very soon. I know you don't care about publicity and you care about the green card not just for you but also for others. In any case, believe me, any amount of red-green dots/publicity on IV/bad reputation on IV, will not make a dime worth of difference to the green cards.
Don't let such things bother you, when you have already contributed a lot towards the IV cause.
Btw, green to you. I know you don't care but I think you deserve it more than anybody else.
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jnraajan
06-05 02:25 PM
It is December 1st not November 30th.
http://www.federalhousingtaxcredit.com/2009/faq.php
Actually, It has to before Dec Ist, so technically, you should have closed the house at least on Nov 30th.
http://www.federalhousingtaxcredit.com/2009/faq.php
Actually, It has to before Dec Ist, so technically, you should have closed the house at least on Nov 30th.
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Macaca
02-29 09:03 PM
Oracle Unit Lobbied on Patents, Visas (http://www.washingtonpost.com/wp-dyn/content/article/2008/02/28/AR2008022803503.html) Associated Press, Feb 28
WASHINGTON -- A unit of business software maker Oracle Corp. paid VAR II LLC $140,000 in 2007 to lobby the federal government .
The firm lobbied Congress on a patent reform bill and immigration reform legislation related to visas for high-tech workers, according to the form posted online Feb. 13 by the Senate's public records office. Oracle USA Inc. paid the firm $140,000 in the second half of 2007 to lobby on those issues after hiring VAR II earlier last year.
The House last year approved a patent-reform bill intended to reduce litigation, improve patent quality and establish a post-approval evaluation process. Technology and financial services firms support the legislation, but pharmaceutical and biotechnology companies said it would weaken patent protection by reducing infringement penalties. The Senate is considering similar legislation.
Oracle is based in Redwood City, Calif.
Lobbyists are required to disclose activities that could influence members of the executive and legislative branches, under a federal law enacted in 1995.
WASHINGTON -- A unit of business software maker Oracle Corp. paid VAR II LLC $140,000 in 2007 to lobby the federal government .
The firm lobbied Congress on a patent reform bill and immigration reform legislation related to visas for high-tech workers, according to the form posted online Feb. 13 by the Senate's public records office. Oracle USA Inc. paid the firm $140,000 in the second half of 2007 to lobby on those issues after hiring VAR II earlier last year.
The House last year approved a patent-reform bill intended to reduce litigation, improve patent quality and establish a post-approval evaluation process. Technology and financial services firms support the legislation, but pharmaceutical and biotechnology companies said it would weaken patent protection by reducing infringement penalties. The Senate is considering similar legislation.
Oracle is based in Redwood City, Calif.
Lobbyists are required to disclose activities that could influence members of the executive and legislative branches, under a federal law enacted in 1995.
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alterego
09-30 12:38 AM
Right now I see the problem in DC as gridlock. They are paralyzed by partisanship, political bickering and resulting indecision. Part of it is due to the nature of politics and part of it is due to the impact of ever more represented special interests.
I see it as more likely that this gridlock will be broken(for good or bad) if Obama is elected. With McCain, atleast on the immigration issue, I'm guessing we will see a replay of the two failed Bush efforts. When the Democrats took congress, many observers and even amongst us thought, with a pro-immigration president and a democratic congress, this was one of the few things that could get done, we all know how that worked out. I'm not sure how anything will be different with a McCain presidency.
I think at this time, many in this community are weary of the politics of this issue. Tired, frustrated and upset at the lack of common sense on this issue. It almost feels like a roll of the dice might be better than this indefinite period of uncertainty and limbo. One can more effectively deal with a decision rather than what is offered us, which is a mere promise with no date certain. It is truly an unfair situation to put someone in, after in many cases 10 yrs in this land. I am hoping for an Obama victory as I see that as the best chance to break this gridlock and release us in some direction.
I see it as more likely that this gridlock will be broken(for good or bad) if Obama is elected. With McCain, atleast on the immigration issue, I'm guessing we will see a replay of the two failed Bush efforts. When the Democrats took congress, many observers and even amongst us thought, with a pro-immigration president and a democratic congress, this was one of the few things that could get done, we all know how that worked out. I'm not sure how anything will be different with a McCain presidency.
I think at this time, many in this community are weary of the politics of this issue. Tired, frustrated and upset at the lack of common sense on this issue. It almost feels like a roll of the dice might be better than this indefinite period of uncertainty and limbo. One can more effectively deal with a decision rather than what is offered us, which is a mere promise with no date certain. It is truly an unfair situation to put someone in, after in many cases 10 yrs in this land. I am hoping for an Obama victory as I see that as the best chance to break this gridlock and release us in some direction.
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desi3933
08-06 02:40 PM
Here is his very first post by Rolling_Flood in IV forums. Not only he is using foul language, he is totally arrogant. Lines like "How dare you f***@#n compare yourselves to EB-2?" and "i will slap a lawsuit against any organization ...".
It seems that he is always ready to file lawsuit.
For me, its a good read to get a good laugh. :D
This person is such a slick sucker. Everyone, please read his previous posts. He was whining about how to apply in EB-2 and the timelines for I-140 approval etc. Then, he wanted to know whether he could go to school on an EAD.
In short, he is doing this EB-3 bullshit just to get maximum mileage out of this in his favor. Given a chance, he would jump ship to EB-2 and not give a damn about EB-3 India.
Expanding on these points, if you, the reader, are an EB-3 or ported to EB-2 and work in the oh-so-familiar IT bodyshops, go suck on those sour lemons.
How dare you fuck@#n compare yourselves to EB-2?
Cant you FUC@#N understand what the phrase "preference category" means????? go get a higher education, change employers, get an EB-2 the right way.
Stop this bullshit you have going on. I for one will write my own letters to ensure none of this EB-3 India whining nonsense gets any attention. I will also mobilize other EB-2 India and China folks i know, to do the same.
If that does not succeed, i will slap a lawsuit against any organization that attempts to twist the rules to imply EB-3 and EB-2 are the same skill level.
Let us see who wins here. In the interim, go suck on those sour lemons and work for your blood sucking desi employers. Serves you right for being lazy and not trying to help your lot before.
Will rot for 7 years in EB-3, but will not get a US MS/MBA/PhD, will not change to an EB-2 job, and then when EB-2 gains something, will cry and create a ruckus????? Go screw yourselves.
It seems that he is always ready to file lawsuit.
For me, its a good read to get a good laugh. :D
This person is such a slick sucker. Everyone, please read his previous posts. He was whining about how to apply in EB-2 and the timelines for I-140 approval etc. Then, he wanted to know whether he could go to school on an EAD.
In short, he is doing this EB-3 bullshit just to get maximum mileage out of this in his favor. Given a chance, he would jump ship to EB-2 and not give a damn about EB-3 India.
Expanding on these points, if you, the reader, are an EB-3 or ported to EB-2 and work in the oh-so-familiar IT bodyshops, go suck on those sour lemons.
How dare you fuck@#n compare yourselves to EB-2?
Cant you FUC@#N understand what the phrase "preference category" means????? go get a higher education, change employers, get an EB-2 the right way.
Stop this bullshit you have going on. I for one will write my own letters to ensure none of this EB-3 India whining nonsense gets any attention. I will also mobilize other EB-2 India and China folks i know, to do the same.
If that does not succeed, i will slap a lawsuit against any organization that attempts to twist the rules to imply EB-3 and EB-2 are the same skill level.
Let us see who wins here. In the interim, go suck on those sour lemons and work for your blood sucking desi employers. Serves you right for being lazy and not trying to help your lot before.
Will rot for 7 years in EB-3, but will not get a US MS/MBA/PhD, will not change to an EB-2 job, and then when EB-2 gains something, will cry and create a ruckus????? Go screw yourselves.
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centaur
02-25 05:25 PM
Is this book available? maybe we can get a bunch of copies and send to some editors, John Stewart/Stephen Colbert and some legislators.
If the author is approachable, maybe an interview with him and some TV personality could be tried.
Indian techie slams CNN Lou Dobbs (http://www.indiadaily.com/editorial/10-28a-04.asp)!, N. Sivakumar, October 28, 2004
In a book titled "Dude, did I steal your job? Debugging Indian Computer programmers", the author, an Indian software engineer, has slammed Lou Dobbs of CNN for calling the foreign high-tech workers as non-tax payers, and humiliating the enormous contributions of foreign high-tech workforce to the American economy.
"Foreign high-tech workers who come here on H-1B / L1 visas pay every tax that U.S. citizens do, including Social Security and Medicare. But if they return to their homeland, then they will not get any benefits from these programs. The recent recession cost the United States more than half a million foreign high-tech workers who had to return home after paying all these taxes. In fact, Americans owe them money"
The author writes.
"The ignorance to mention the stupendous contributions of immigrant high-tech workers was the primary cause for the anti-Indian atmosphere which is seen among computer professionals lately. Unfortunately, neither the media nor the public understand the foreign high-tech workforce. The net result: those who supported the foreign high-tech worker programs have taken a back seat to play safe, and Indians and others who came here on visas, and worked their butts off to make this country prosper are named 'slaves', 'dummies', and 'enemies'. writes the author, N.Sivakumar.
The book also claims that bringing in foreign high-tech workforce at the right time was the primary reason for America's stupendous high-tech success, and gives statistics and evidence to prove that hadn't America acted quickly, the Europeans would have taken over the software dominance.
The book also outlines the life, struggle and achievements of Indian programmers in America with entertaining facts, and is a prime discussion topic in many anti-outsourcing and immigration websites lately.
If the author is approachable, maybe an interview with him and some TV personality could be tried.
Indian techie slams CNN Lou Dobbs (http://www.indiadaily.com/editorial/10-28a-04.asp)!, N. Sivakumar, October 28, 2004
In a book titled "Dude, did I steal your job? Debugging Indian Computer programmers", the author, an Indian software engineer, has slammed Lou Dobbs of CNN for calling the foreign high-tech workers as non-tax payers, and humiliating the enormous contributions of foreign high-tech workforce to the American economy.
"Foreign high-tech workers who come here on H-1B / L1 visas pay every tax that U.S. citizens do, including Social Security and Medicare. But if they return to their homeland, then they will not get any benefits from these programs. The recent recession cost the United States more than half a million foreign high-tech workers who had to return home after paying all these taxes. In fact, Americans owe them money"
The author writes.
"The ignorance to mention the stupendous contributions of immigrant high-tech workers was the primary cause for the anti-Indian atmosphere which is seen among computer professionals lately. Unfortunately, neither the media nor the public understand the foreign high-tech workforce. The net result: those who supported the foreign high-tech worker programs have taken a back seat to play safe, and Indians and others who came here on visas, and worked their butts off to make this country prosper are named 'slaves', 'dummies', and 'enemies'. writes the author, N.Sivakumar.
The book also claims that bringing in foreign high-tech workforce at the right time was the primary reason for America's stupendous high-tech success, and gives statistics and evidence to prove that hadn't America acted quickly, the Europeans would have taken over the software dominance.
The book also outlines the life, struggle and achievements of Indian programmers in America with entertaining facts, and is a prime discussion topic in many anti-outsourcing and immigration websites lately.
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alisa
12-30 01:05 AM
If that is true, to complete the circle, you'll also see terrorist attacks, sponsored by India, on innocent civilians in Pakistan. You'll soon get a fitting reply, something which will put the lives of your mom and dad in danger and scare the hell out of them.
I think you missed my point. Which was that the 'solution' that Mr rinku1112 was suggesting, destabilizing Pakistan by funding dissident groups, is something that Pakistan already suspects India is doing. And there might be some truth to it. So, then, Pakistan would want to fund groups that would try to destabilize India.
Thats the vicious cycle.
I think you missed my point. Which was that the 'solution' that Mr rinku1112 was suggesting, destabilizing Pakistan by funding dissident groups, is something that Pakistan already suspects India is doing. And there might be some truth to it. So, then, Pakistan would want to fund groups that would try to destabilize India.
Thats the vicious cycle.
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qasleuth
03-31 10:29 PM
did u mean to say 2007 or 2009 on your receipt and notice dates?
sorry...:eek: 2007
sorry...:eek: 2007
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gk_2000
07-29 05:51 PM
100 thousand is not for a president to worry about. But 11-12 Million is a different story..
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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.
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.
girlfriend 2011 New Adidas Predator XI
sanju
04-07 05:54 PM
I wonder if big names like Mircrosoft and others are aware of this. I am sure they will have a huge loss if this bill went through. May be it is time Bill Gates dropped his gloves and fight for us too.
Bill Gates is very influential but he is one man and can do only so much. I think all the forum members should become active in educating and engaging our friends and employers about this potential disaster.
Bill Gates is very influential but he is one man and can do only so much. I think all the forum members should become active in educating and engaging our friends and employers about this potential disaster.
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walking_dude
09-29 03:47 PM
Please read my post. I wrote 'contribute' and not vote! I know LPRs cannot vote, but they can certainly contribute to election campaigns. Assuming USCIS uses even 100,000 of available visas and taking the conservative estimate of 50,000 (50%) of them to be adults, there will be at least 200,000 new EB LPRs between now and 2012. These EB immigrants can definitely help shape the future of their future country of citizenship through their contributions.
And why should I pray? If this country doesn't need me, I'll move over to some other that better respects me. And whom should I pray for? Mcain - author of CIR 2007 -who doesn't care either way?
I would rather have Durbin send me back in a year rather than have McCain waste 4 more years trying to sell CIR to extreme right-wing-nuts who form the base of Repub party,and Hispanic voters. And get the resulting medley passed through a Dem congress. It will be another repeatition of CIR 2007, which was incidently authored by McCain.
I would rather have the issue resolved one-way or another fast in a year or two rather than waste 4 more years for something which I might never see in this life.
And you think majority of those ppl will get Voting rights by 2012....forget it...Most of the ppl here are lucky to get tehir GreeN Card by 2012....
There is no reasoin for him to pander future voters......He will be most likely agnostic to EB issues, however, as noted..if Durbin is his Immigration advisor..then we are toast...so pray for the best...
And why should I pray? If this country doesn't need me, I'll move over to some other that better respects me. And whom should I pray for? Mcain - author of CIR 2007 -who doesn't care either way?
I would rather have Durbin send me back in a year rather than have McCain waste 4 more years trying to sell CIR to extreme right-wing-nuts who form the base of Repub party,and Hispanic voters. And get the resulting medley passed through a Dem congress. It will be another repeatition of CIR 2007, which was incidently authored by McCain.
I would rather have the issue resolved one-way or another fast in a year or two rather than waste 4 more years for something which I might never see in this life.
And you think majority of those ppl will get Voting rights by 2012....forget it...Most of the ppl here are lucky to get tehir GreeN Card by 2012....
There is no reasoin for him to pander future voters......He will be most likely agnostic to EB issues, however, as noted..if Durbin is his Immigration advisor..then we are toast...so pray for the best...
bobzibub
04-07 11:56 AM
One part of the idiocy of this bill is that it places more burden upon the institutions where they cannot handle the work they have now.
If one has to apply for a labour cert every time you want an extension of an H1b, it will become unworkable. The main reasons for extending H1bs is because the DOL and USCIS take so long to process (or are not allowed to process) their existing workload today, including labour certs. This appears to compound an existing problem.
It is unfortunate that consulting is barred too. Consulting is a good gig. My main goal for going through this silly green card process is simply to consult individually.
If they actually addressed the problem, such as making the labor cert process simply a web site with a "Submit" button, then it would be an actual improvement. Is it really that difficult to compare a wage rate doing a certain job in a certain location with the market rate? Can't you do that now on Monster or Dice?
Remember the proportion of applications rejected are dwarfed by the proportion of applications that are simply abandoned. Probably due to the time it takes for them to get around processing them using their super-modern VDT technology.
Could we please *at least* have an exemption for technical consulting to the DOL and USCIS? They really could use some professional assistance.
If one has to apply for a labour cert every time you want an extension of an H1b, it will become unworkable. The main reasons for extending H1bs is because the DOL and USCIS take so long to process (or are not allowed to process) their existing workload today, including labour certs. This appears to compound an existing problem.
It is unfortunate that consulting is barred too. Consulting is a good gig. My main goal for going through this silly green card process is simply to consult individually.
If they actually addressed the problem, such as making the labor cert process simply a web site with a "Submit" button, then it would be an actual improvement. Is it really that difficult to compare a wage rate doing a certain job in a certain location with the market rate? Can't you do that now on Monster or Dice?
Remember the proportion of applications rejected are dwarfed by the proportion of applications that are simply abandoned. Probably due to the time it takes for them to get around processing them using their super-modern VDT technology.
Could we please *at least* have an exemption for technical consulting to the DOL and USCIS? They really could use some professional assistance.
gc03
05-17 12:54 PM
learning01, I do not agree with you. You should better use different language. I am not here to promote or demote anyone.
Let me ask you a quick question.
Have you contacted Lou Dobbs to publish our stories? probably not.
It's ideal to say thanks and indirectly ask him to publish legal immigration problems.
Let me ask you a quick question.
Have you contacted Lou Dobbs to publish our stories? probably not.
It's ideal to say thanks and indirectly ask him to publish legal immigration problems.