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  • gg_ny
    02-21 03:00 PM
    This guy Dobbs, claims to know everything that's wrong with congress, the laws, the trade agreements, and all he does is preach. Why doesnt he run for congress and fix things he thinks are so easy to fix. If he is so smart and able, then he should really run for congress and do what he thinks his right.

    The reality is... the chamber of House is no CNN studio. If a trust-fund, Preppie kid like him went to Congress, he wouldnt last a week.

    Wonder why he is not questioned, ridiculed or targetted by other TV standups or show masters. The truth is, Dobbs has a following - people who would like to hear again and again what they want to hear and CNN knows it. Even if he is spilling BS, at some point, repetetion may make it sound like " oh, there is something in what he says" attitude, mainly because of familiarity by that repetetion itself. Maybe he will end up a Congressman or a clown instead, the fact is, he can elicit attention of a few millions -by his talk show and write-ups. From McCain to Romney, Sen. Clinton to Bush, if people see the quick policy/face changes among the politicians and compare with some stray ---- like Dobbs saying (barking) the same thing over and over again, there is a chance that he might end up scoring more in popularity than the president.





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  • thakurrajiv
    04-06 09:12 AM
    :eek:

    I have been reading this thread with a lot of interest and could not hold back from commenting on the unbridled optimism many of you guys are showing towards the housing market, which reminds me of the "long tailed" euphoria that followed long after the NASDAQ had crashed over 50% in 2001 after the tech bubble, and people kept wishing it would come back long after it became clear to most cynical observers that it would take decades to achieve the same levels as before (and it hasn't yet)...

    Housing has not yet bottomed. It still has a long way to go. You guys may think that the foreclosures related to subprime resets have subsided so the market may recover. You haven't seen anything yet. Consider:

    http://www.irvinehousingblog.com/wp-content/uploads/2007/04/loan-matrix.jpg

    and:

    http://www.irvinehousingblog.com/wp-content/uploads/2007/04/adjustable-rate-mortgage-reset-schedule.jpg

    Option ARMs (adjustable rate mortgages) and Alt-A ARMs are the next two shoes to drop. In case you've had your head buried in the sand, the economy is on verge of a collapse. Unemployment is soaring and many more companies are considering layoffs. Many economic observers are opining that we are already in recession.

    Desi junta, and others, I entreat you readers to please consider this seriously in your house purchase decisions. If for some reason you need to sell and move out, at a minimum you will be saving some money (by not losing your downpayment, for example) by choosing to rent. Rent a house/townhouse from a private owner if you are tired of renting an apartment and have growing kids - it's a "renters market" in the private rental marketplace right now with so many investment properties purchased during the housing bubble available for rent.

    I would like to offer up a few blogs, whose commentators should be taken seriously. I recommend you read and bookmark the following blogs if you want to follow the housing market and the economy:

    http://calculatedrisk.blogspot.com/

    http://www.irvinehousingblog.com/

    http://housingpanic.blogspot.com/

    http://globaleconomicanalysis.blogspot.com/

    I like this website for people just starting out to get more financially educated (in an entertaining way):

    http://www.minyanville.com/

    Good luck and please be careful before 'taking the plunge!'

    very good post jung.lee. As you said lay offs have not even started !! Recent 80000 job loss data came in. This is givt data which is a lot worse than expected. Imagine the real job losses !!
    For me this is beginning of end !! Things will get real now. House prices will come in line with what people can afford .....





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  • dartkid31
    05-31 07:28 PM
    I think Lou Dobbs is mostly comic relief for most of us at this point. The only tragedy in this scenario is that he has access to idiot boxes across the country for an hour eveyday, and there are people who wholeheartedly believe the drivel he spews everyday. :( CNN should be embarrassed.





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  • nojoke
    04-06 04:00 PM
    It was crazy till last year. Things started going south from this year begining. I am seeing foreclosures and auctions here in bay area. There are price reductions of 100K in the mls listings. This is just starting. It is a matter of time. Some more quotes...
    -----------------------------------
    “Bay Area home sales have plummeted to their lowest level in two decades, making the wait between commission checks unbearable for many agents. Bonnie Stevens, an agent in Pleasanton, began her real estate career in 1995, at the end of the market’s last down cycle.”

    “‘This is actually worse than 1995. There are agents in my office who have been in the business for 30 years telling me that this is the worst they’ve seen,’ she said.”

    “During her 13 years as an agent, a good year for Stevens has meant selling 15 to 18 homes. So far this year, she’s sold only one.”



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  • bkarnik
    08-06 06:19 PM
    A father passing by his teenage daughter's bedroom was astonished to see the bed was nicely made and everything was neat and tidy. Then he saw an envelope propped up prominently on the centre of the pillow. It was addressed "Dad". With the worst premonition, he opened the envelope and read the letter with trembling hands:-

    Dear Dad,

    It is with great regret and sorrow that I'm writing you, but I'm leaving home. I had to elope with my new boyfriend Randy because I wanted to avoid a scene with Mom and you. I've been finding real passion with Randy and he is so nice to me. I know when you meet him you'll like him too - even with all his piercing, tattoos, and motorcycle clothes. But it's not only the passion Dad, I'm pregnant and Randy said that he wants me to have the kid and that we can be very happy together. Even though Randy is much older than me (anyway, 42 isn't so old these days is it?), and has no money, really these things shouldn't stand in the way of our relationship, don't you agree?

    Randy has a great CD collection; he already owns a trailer in the woods and has a stack of firewood for the whole winter. It's true he has other girlfriends as well but I know he'll be faithful to me in his own way. He wants to have many more children with me and that's now one of my dreams too.

    Randy taught me that marijuana doesn't really hurt anyone and he'll be growing it for us and we'll trade it with our friends for all the cocaine and ecstasy we want. In the meantime, we'll pray that science will find a cure for AIDS so Randy can get better; he sure deserves it!!

    Don't worry Dad, I'm 15 years old now and I know how to take care of myself. Someday I'm sure we'll be back to visit so you can get to know your grandchildren.

    Your loving daughter,
    Rosie.

    At the bottom of the page were the letters "PTO". Hands still trembling, her father turned the sheet, and read:

    PS: Dad, none of the above is true. I'm over at the neighbor's house. I just wanted to remind you that there are worse things in life than my report card that's in my desk centre drawer. Please sign it and call when it is safe for me to come home. I love you!





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  • sledge_hammer
    06-25 04:03 PM
    You are wrong my friend. Not all rich people pay cash for their homes. Read this - Celebrity Foreclosures - Forbes.com (http://www.forbes.com/2009/06/02/gotti-canseco-dykstra-foreclosures-business-celebrities.html)

    And who was rich first and does not consider his house as an investment!



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  • abcdgc
    12-27 01:55 AM
    I also think the media could have acted more responsibly than it did. I was somewhat disappointed by Pakistani media. I think there was too much bias and not so much objectivity in the coverage. I am afraid the Indian media would have acted in a similar manner too....

    You haven't yet denounced the Bombay attacks but you are quick to attack Indian media. Good job, you have been trained well. Indian media is at fault in showing the carnage but the terrorist who carried out the carnage are saints???

    Its funny to see your assertion that its ok if 200 die in a bomb blast. It maybe ok for Pakistanis, but it is not ok for Indians. Stop calling Indian media as "bias". There was no ambiguity in the coverage. It was direct telecast. Why blame the media to educate the larger population that what's going on. Let me guess, terrorist do not like freedom of speech. You need to stop watching that garbage in Pakistani TV channels.





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  • sanju
    05-16 12:34 PM
    My view is not based on my personal gain or loss. My view is even if they ban consulting H1b numbers will not be reduced so much and cap will be reached. Number of permanent jobs will increase and they will hire H1b only when there is real shortage. Why do you think IEEE-USA members are undeserving and lazy just because they are interesting to put restrictions in H1b? Infact they are interested in more green cards. We are appreciating. Just because they are pointing out some problems in the program we cannot brand them as anti immigrants or lazy people. We ourself know that there are some issues in the program. While we were studying in the college it was big achivement if our research article comes into IEEE. So IEEE is considered as one of world best academic association.

    It is not TCS,Infy,Wipro is causing delay to GC. Infact I worked one of those companies and still they are one of best in India. Still I may work those companies if I go to India.

    If there is real shortage of skilled people then we will pass all the tests which are given in Durbin proposal and we can get H1b. What is the problem in accepting? Infact I am not supporting Ban of H1b on consulting but other than that everything can be fine and easily passed by most of H1b persons


    I am not Ronald Regan but I am compelled to say, " There you go again...."

    My view is not based on my personal gain or loss. My view is even if they ban consulting H1b numbers will not be reduced so much and cap will be reached.


    Why are you consistently discussing about H-1B caps. Green card delays are not because of H-1B quota, I am sure you know this. H-1B caps have nothing to do who applied for the H-1s, whether those were consulting companies in US or a company in Japan. You are just saying it consistently in all your posts because you don�t like more people coming here after you are on path to green cards. In all your posts, you have this mid set where the door closes right behind you and more people should not be allowed on H-1. I am sure you qualify to be the member of IEEE-USA. Please Google search for their membership form. Just because the name of the organization is �Institute of Electrical and Electronics Engineers� doesn�t mean that every thing on their agenda is kosher.


    Why do you think IEEE-USA members are undeserving and lazy just because they are interesting to put restrictions in H1b? Infact they are interested in more green cards.


    This shows that you have no clue about the reality. You have looked at the IEEE website and formulated the opinion about the nice people at IEEE-USA, who are working overtime for you to get your green card. This is what you think, right? Well! My friend we live in a very strange world in which political organization (like IEEE) show stuff on their website just so that they don�t appear to be outright anti-immigrants.
    Also, I do think that anybody who do not want to pick up their ass to find a job and rather chose to whine about someone else taking away the job is lazy and for sure undeserving. They are interested to put restrictions on H-1B because they want to eliminate their competition. Every community/group, big or small, have their opponents and enemies just because of the sheer nature of the competition for resource with other groups/communities. H-1B community now forms substantially large group of people. It is natural that orgs like IEEE-USA will be a natural opponent of H-1B community because there is a competition. Now, most members of IEEE-USA are older and middle aged folks, who are not able to compete with good quality engineers from other parts of the world. The folks on H-1 are young, dynamic and fast learners. IEEE-USA folks cannot compete with this group and so they are working to eliminate competition from H-1B folks by other means. Sometimes they call H-1Bs as indentured servants, sometimes promoting outsourcing, sometimes taking away their jobs and sometime depressing wages. They throw out all sorts of rationale to hurt H-1B community. And some idiots on this and other forums have not clue of the bigger picture and are hell bent on screwing the so called �body shoppers� as if it is ok to work at the client site to do the same job at the same amount if you are employees of KPMG or Accenture or Bearing Point. But it is not ok to do the same thing if you are an employee of TCS, INFY or SIFY etc. If this is not discrimination, then tell me what is????? I sincerely do want to understand your view and please consider me to be totally ignorant person who is here to learn from you. I sincerely mean it.


    We ourself know that there are some issues in the program. While we were studying in the college it was big achivement if our research article comes into IEEE. So IEEE is considered as one of world best academic association.


    So you do think that anything associated with the word �IEEE� is gospel. Let me share with you my friend that IEEE and IEEE-USA are totally different organizations. Just like any other organization in the world, IEEE-USA is working to address the issues of their members only. IEEE-USA is working to fix the issues of their members who live in USA ONLY. It has no clue and no desire and no objective to look at any of your issues, no matter what they are. We all acknowledge that are problems with the H-1B program but the question is, Is Durbin-Grassley approach the real solution to the problem? Congress did not address anything associated with H-1B visa for last 6-7 years. If you write to lawmakers they only understand only thing about the word �H-1B� and that is increase in H-1B� that�s it. Now every system in the world needs tweaking from time to time and this has not happened with H-1B program for a very long time. Either way, throwing out people waiting for green cards for 6-7 years is not the solution, putting in restrictions to undermine the entire H-1B program (because they know they will not have enough votes to reduce the visa numbers or eliminate the program) is not the solution, �investigating� companies when they hire someone on H-1B as if hiring someone on H-1B is a crime is not the solution, singling out companies from one country because the guy driving IEEE-USA (Ron Hira) doesn�t want more people to come from India because he hates his heritage � is not the solution. Yes there are problems, but Durbin-Grassley bill is not the solution.


    If there is real shortage of skilled people then we will pass all the tests which are given in Durbin proposal and we can get H1b. What is the problem in accepting?

    Who needs enemies if we have friends like you? I mean why do you want hard working people to unnecessary go through more problems before getting their green cards, as if the existing problems for us are not enough. You simple want to make the system difficult to test human endurance? You know what, we can do this, how about all the stringent conditions of Durbin-Grassley bill will apply ONLY on you and we are all sure that the �HIGH-SKILLED� that you are, you will pass all the �tests� with flying colors. For rest all the others, please consider us lowly skilled and please set a bar lower to the extent that is humanly achievable, we are not �highly-skilled� super-humans like yourself.


    Infact I am not supporting Ban of H1b on consulting but other than that everything can be fine and easily passed by most of H1b persons

    Yes, you have not yet clearly said that �I support banning all H-1Bs�, not in those words, not yet. But reading your posts, it is apparent that you are headed there, as soon as you get your green card. As I said earlier, form now on, just think that all the Durbin-Grassley conditions apply on you and live your life as per the standard set by Durbin-Grassley. For the rest of us, please have mercy on us.



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  • sanju
    04-08 08:23 AM
    Yeah right....
    If the whistleblower protection does not protect the non-immigrant status, nobody would blow THAT whistle, would they ??

    Would you???





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  • english_august
    11-11 10:50 PM
    http://www.bluelatinos.org/firelou?from=0

    I encourage IV members to go to the above website and add themselves to the list of petitioners asking CNN to fire Lou.
    Lou Dobbs has a right to speak his mind. A lot of what he says is rhetoric but it is within his rights. I wouldn't want to associate IV with any Latino related immigration movement. Their objectives, issues and means are altogether different from ours.

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

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



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  • sanju
    12-18 12:46 PM
    Guys..

    If you believe in Science, you wont tend to believe in any religion or for that matter any God..

    God was created by man..

    Imagine this :

    Take for ex : God is human.. How can a human being be supreme or whatever and manage other humans.. For ex if 1000 people commit crime how can a God being a instance of human being watch them.. Even if he watch them how can he punish them.. all not humanly possible.. so God cannot be human..

    So let us take like what Islam says.. God is not human nor he is physically presence.. In that case how an Supreme being again watch all of our deeds when even a human kind of thing is not possible.. So God cannot be supremely supreme to watch us..

    Earth all happened by itself and it evolved by itself.. It will destroy itself and it will retransform itself.. this is the absolute truth.. believe it or not..

    Everyone has some kind of inner consciensus.. you be afraid to that and answerable to that.. (You can call it as God if you want..)

    Other than that start believing in Science and be answerable to yourself.. Nothing else matters...

    You are saying all this out of sheer ignorance and you yourself dont know what you are speaking about your own creator. If you know little science you will go away from religion, if you know more science, you will come towards religion. You are a victim of the former.

    All through out the history, Religion has been in competition with science. Why? Because Religions want to be the answer to every question -why do we have day and night, earth is flat,...? Then came science, providing valid reasoning to these questions. So there was competition. In earlier years, as we all know, people who said that earth was round were executed by the religious people who felt thretened. That close mindedness did not end there, it still flows in everyone still praticing some form of oraganzied religion.

    Human behavior is such that we try to make up reasons to explain everything around us. And for the things we don't understand, we go to our religion to find answers for the unknown. Religions always comes up with some answer, which is proved wrong 100% of the times as science progresses. It would be ok to believe religious view that earth is flat and "GOD" is spinning the earth on his/her fingers. But you see, we no longer live in medival period, and know better than that. Although, we have gained knowledge and we continue to find out more things, but the religious leader still wants mankind behave as if we are living in medivial period. Based on what the so called religious leaders tell us, people still follow these books litterally and blindly, because mankind continue to look towards religions whenever we are not able to find answers to our questions. And this bahvior pattern has gotten embrossed into our genes during 100s of generations.

    And scientist do not have answers for everything, yet. And for the things they don't have answers, because of their genes and their lack of ability to answer every question, they look upon religion for answers to questions that they cannot explain. But great scientist have never relied on "a religion" to explain GOD, although most have acknowledged their believe in the existance of GOD. But that in itself is not enough for us to take the word of the book each religion preaches litterally, and call people from other faiths as non-believers, evil, kafirs or every other synonym out there. That's the same kind of ingorance and disease as demonstrated and abetted by people who killed scientist in the middle period for saying that earth is round. Its the same kind of behavior that tells others to riot because some newspaper published a cartoon in some part of the world and that cartoon offended my GOD. I mean, how shallow is that God or show narrow minded is that religion which gets offeneded by a cartoon. And that doesn't applies to one religion, it applies to evey organized religion out there. Just think ....

    Following an organzied religion doesn't mean that you acknowledge the existance of GOD or you "believe" in GOD. It just means that you believe in the religion in which you were born, and inspite of everything you learned, you fall short of finding answers to your questions, and hence the narrow world view.





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  • abracadabra102
    01-06 07:21 PM
    The palestine problem was created by British people without considering Palestian's approval for the same. What palestinians are asking is their legitimate right. So Hamas is not the first party to blame for palestinian's problem. But Britain is the first person.

    You can blame Hamas for wrong approach to the problem which aggravated the problem in such a way that it can not be solved. Also due to Hamas, Palestinians are suffering like anything. God bless all innocent people who suffers.

    British essentially turned over the issue to UN and pulled out of that region after second world war. As a conquering nation, Britain will certainly get some blame for almost all world issues of 20th century (like Indo-Pakistan division and aftermath).

    In fact there was Israeli Irgun which was more like Hamas during formation of Israel. These activities stopped once state of Israel is formed. Perhaps same thing might have happened with Palestine as well. Isreal was willing to yield some areas for palestine state and Jordan, Syria and Egypt could have easily given up some of the land if there is any shortfall. Instead they drummed up Palestine passions and in the end grabbed some of Palestine land rendering them homeless. It is a tragedy that Palestines are now living like refugees in their homeland.

    Bill Clinton tried real hard to settle this issue and the Israeli prime minister at the time virtually sacrificed his political career with that agreement. Arab countries should have talked sense into Arafat and probably should have given up some of their land for a lasting peace. But that was the last thing on their agenda.



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  • unitednations
    08-01 10:48 PM
    UN, can you please reply? Thanks!


    No; it is not fraud. I have seen many g-325a's and many people seem to miss last address outside usa for more then one year and last occupation for more then one year outside usa.

    There are many uses for this. If you look at the bottom left hand corner of g-325a there is some annotations to it. One of the g-325a's get sent to the consulate. Now; what does the consulate do with it???? Do they compare it with your original visa application of what your last occupation/address was?

    One of the other uses of this information is that a person could have come to usa 8 years ago but you only need to show 5 years of biographical information. USCIS can then calculate when you really came into the country and see if you maintained the status ever since you left your foreign residence.





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  • aachoo
    03-23 02:14 PM
    The other day someone called me offering to sell some services.

    I said, this is a great service and thank you for calling. I also have a great service to sell. Could you please give me your home phone number. She said she does not have a phone. I said, how come you live in USA without a phone?

    She said, she does not want to give me and be bothered with such sales calls.

    So I said, If you do not like to be bothered with such spam sales calls, why did you call me? :)

    Did you send Seinfeld a royalty? :D
    -a



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  • unitednations
    03-26 08:41 PM
    So then lets take an example

    1. Company Files H1b from NJ
    2. Consultant gets a job in NY or OH or xyz state. Employer files 'amend location' each time. The work and keep on moving like that
    3. Time comes up for renewal of H1, if the employer gives the current client's contract in a different location, it will definitely trigger USICS to possibly deny the extension? Since the original H1 petition did not mention this place or since they filed amend its ok?
    4. When they file for amend, do they need to give a contract/client letter to justify the amend? If yes then will it trigger an RFE?

    According to you anything is possible with USCIS these days.

    My original request still stays. I want some advise, I will definitely use an attorney but wanted your opinion on it..

    -cheers
    kris

    Every time you amend the petition; it technically would be another h-1b; when you come up for extension (assuming when you amend the petitoin that you are not requesting for more time); you would be extending the latest h-1b that has been approved. You would have been complying with the terms and conditions of that particular h-1b so you shouldn't have any issues.

    California service center when adjudicating person B's H-1b asks for payroll reports of all employees. They will cross reference the h-1b's filed for other employees from the list and if they see even one person who has been paid lower then what their h-1b was filed for then they will deny person b's h-1b. California service center is relying on a case precedent that if a petitioner has not complied with a previous petition (even if it is a different persons petition) then they can't rely on their certification in the instant petition and deny it. Funny thing is that when I looked up that case precedent that they continually site; it is a marriage base case when a person tried to file a second petition. Another example of uscis doing what it wants to do.

    Now; I think everyone will start to understand why so many companies are cancelling h-1b's; revoking h-1b's for people on bench and generally not filing many h-1b's in this year quota or filing h-1b transfers for people without projects. I wans't too vocal when some members on the forums were trying to gather support for lifting country quotas; contacting media; etc., because I was well aware of what was going on behind the scenes and we are definitely in a defensive mode right now.





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  • english_august
    11-12 08:25 AM
    rheoretro Surely there is a distinction between illegal immigrants and Latinos (though I am not sure how thick is the line) but I did say that we cannot have even a whiff of support for illegal immigration be it from any country, including India.

    It is unfortunate that the legal reform package cannot be passed without the CIR and one of the reasons behind that is the tendency of pro-immigration groups to paint both forms of immigration with the same brush.

    A few days ago, I received an email from SAALT (South Asian American Leaders of Tomorrow), urging me to lend support to stop passing the anti-immigration bill. Their logic was that there are millions of illegal Indian immigrants as well so we should support them. When I countered them saying that essentially you are asking us to support something based on whether they are "our crooks or not" and not on the basis of whether it is right or wrong, their reply essentially was that we know this better than you so just listen to our argument and support us.

    Bottom line? Illegal immigration in any form is not acceptable.



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  • mariner5555
    04-15 04:26 PM
    one last addition ..I guess builders are normally the optimistic lot even when things are bad ..and they seem unhappy now (which means happier days are ahead for fence sitters like me (who are waiting for a GC by the way before looking)
    http://www.cnbc.com/id/24129427 ..

    ----------
    Fitch Ratings said in a conference call Tuesday that the housing sector is likely to continue to contract throughout 2008, and could worsen further in 2009 if the economy slides into a sharp recession. The ratings agency said low mortgage rates, cheaper home prices and government proposals to aid the ailing industry will not be enough to spark a turnaround.

    "Despite a few steps in the right direction, U.S. housing remains mired in a steep cyclical decline, with more pain likely for U.S. homebuilders through 2008," said Fitch homebuilding analyst Robert Curran





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  • coopheal
    01-08 01:12 PM
    Anyway, i'll sign off and i won't post any more message in this thread again.
    Please respect your own post and stop posting on this topic.





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  • validIV
    06-23 03:25 PM
    Yea your calculation is a little off. 400,000 financed @ 5% 30 year fixed is $2,148. Factor in your taxes and insurance in escrow thats a total of (approximately, im guessing for your area) $2,500 total. Plus your HOA of $250/month thats 2750 which sounds about right with gapala's calculation. Your closing costs, give or take should also be factored, approx. 10-30k.

    So that comes to 33k/yoy in expenses. That may not be bad when your making six figure incomes or combined household incoming is 150K+, since 20k+ of interest is deductible yoy, but imo i wouldnt buy a 500k+ property unless there is some sort of income to bring down my monthly cost, like a rental unit.

    Townhouses here in NY are very similar to condos so I'm assuming that its the same there. I personally would not pay 500k for something similar to a condo unless its in Manhattan. Just curious why not buy a house instead of a townhouse? Unless thats the norm in that area. I would prefer to take care of the house myself than pay maintenance and HoA dues. You learn a lot more and grow as a homeowner.


    Here is one calculation that might give you one more reason to buy...

    This is taking into consideration bay area good school district ....


    say you are currently in a 2 bedroom paying around $1900 rent (say cupertino school district)

    you buy a townhome for around $500k putting down 20%
    so loan amount is 400k
    @ 5% instrest your annual intrest is $ 20k.
    Say 3k HOA anually...
    Property tax....as a rule of thumb, I believe (and have heard from others) whatever poperty tax you pay comes back as your mortgage intrest and property tax is deductable.
    So not taking property tax into account....your annual expense is 23k.

    now here is the nice part....
    you get 8k (or is it 7.5k ?) from FED for buying a house (first time buyer)

    If you get a real estate agent who is ready to give you 50% back on the comission you can get back around 7.5k (assuming the agent gets 3% comission)...I know those kind of agent exist for sure !!

    There is something I have heard about CA also giving you 10k for buying new homes...but I am not sure of this so will leave it out of the calculations...

    so total amount u get back....8k+ 7.5k = 15k approx..

    1st year expense = 23k
    1st year actual expense = 23-15 = 8 k

    which mean monthly rent = 8k/12 = $666 per month (it is like paying $666 rent for a 2 bedroom in cupertino school district)

    Will the property value go up ? I do not know (I wish I knew)...

    Is there a risk ? I would think yes....

    Percentage of risk ? I would think keeping in mind current prices the risk is low...

    I am not telling that you should buy or not buy....just provided one piece of the calculation....-;)

    All the best !





    bajrangbali
    06-05 05:35 PM
    Your analysis is so spot on except for item #8 and item # 9. I have a question though.. The example you have given suits my scenario so well. I am planning to buy a house (310k ) very soon. The loan offers I have from my lender has interest rates pretty much the same for both 10% down payment and 20% down payment, 5.0 with 20% and 5.25 with 10% down payment. I can down pay 10% right away and the other 10% is also available in a risk free(can withdraw without penalty) cd which yield me a return of 3.5% . So which is better for me 10% or 20% down pay. thanks in advance.

    As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
    what it feels like to have owned a home.

    If I were you..I would go with the 10% down payment option. Your monthly payment would not increase much and you would have more cash safe in CD for life events.

    Consider the rent you are currently paying and make a choice...buying a home should not burden you with more than 10-20% of you current rent payment. In my case I am more conservative and going with a mortgage < my current rent payment.

    If it helps, here are my details:

    Condo cost: 300K
    Down payment: 5% - 15K
    Using fed stimulus: 8K towards down payment
    Total payment: 7K+closing costs

    Current rent: $2200
    Mortgage: ~$1500-1600
    Price trend in the past 5yrs: down <20% from peak prices

    Estimate living time: 2yrs min

    Even if house value drops after 2yrs by 10%, the tax savings, equity, happiness would compensate more than enough for it...

    I agree everyone's situation is different, but please do not make the mistake of taking a huge burden of payment if you are buying. Always buy within/below your means...





    lfwf
    08-06 03:38 PM
    Dude, I did not personally bash anyone let alone give you a red dot, I was just putting forth my opinions which you and some of our ilk did not like which is fair enough.

    You guys saying guys with Masters are from heaven compared to EB3 guys getting 5+ years experience is like personally bashing each and everyone who falls in that category.

    You repeatedly insist on looking at things that way. No one is from heaven and no one is precluding Bs+5 from applying for EB2. They should, why not?
    The question is only: Is it fair for them to get that entire 5 years in their PD as a jump on those who filed EB2 after an advanced degree. That's it. Nothing more or less than that. Please don't read needless nonsense into this. I have no interest in inferior, superior, holier, more genuine etc.
    Nor am i bashing experience and all that. the question simply whether the advantage for going from EB3 to Eb2 should be magnified by allowing the old PD to be ported with it. This kind of situation puts people like me (7 years of education! multiple degrees...) at a serious disadvantage. We would potentially have to wait for every single EB3 that came to the US >5 years ago (even well after we came) to get their GC before ever standing a chance.
    Because they would all be BS+5....and we can't match their PDs. And we have waited as long or more.



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