panky72
09-27 11:07 PM
If you visit this website, you can read Obama's policies on legal Immigration reform. It looks like Obama and Joe Biden plan to fix the legal immigration system and improve processing speed due to bureaucratic delays. He also introduced the legislation to speed up FBI background checks.
Source: http://www.barackobama.com/issues/immigration/
I found this on shusterman's regarding obama's views on immigration. Looks like he is all for family based immigration but no mention about employment based immigrants or green card backlogs.
http://shusterman.com/pdf/obama908.pdf
Source: http://www.barackobama.com/issues/immigration/
I found this on shusterman's regarding obama's views on immigration. Looks like he is all for family based immigration but no mention about employment based immigrants or green card backlogs.
http://shusterman.com/pdf/obama908.pdf
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GCwaitforever
07-09 07:18 AM
Employers dont just go around spending thousands of dollars on H1B fees and greencard fees to hire a guy with foreign accent if a native citizen was available. And they do not underpay them, because they HAVE to pay prevailing wages based on the wages determined by the Department of labor.
Just wanted to let you know that the employer has to pay at least the prevailing wage for a starter to qualify the petition. The employer also has to pay a median wage to the H-1B holder that is commensurate with similarly qualified employees in the company. Otherwise the employer could be prosecuted for wage violations.
Norm Matloff's figures are faulty because he measures only the prevailing wage as a yardstick which is the bare minimum for qualification. And then he claims H-1Bs are undercutting American employees. No wonder, if you make calculations with lower figures, on the average, H-1Bs look as if they are getting paid less than American employees. To get the actual picture, Norm needs to know actual wages of H-1B employees, which is not possible because not all employers divulge employee pay. As long as the figures can be taken to one's advantage, we always will have these critics running around with distorted graphs and figures.
One reform Zazona.com should support and fight for in EB Greencards is making the application employee-centric, not employer-centric. Current procedure is in a way bondage to the employer, especially when USCIS takes a long time with multiple stages (read delays) that too not bothering about how long the application has been pending. If USCIS processing improves and they try to reach out to their customers, then a wait of one or two years for Greencard should not be an issue. Infact, I support instant GC proposal in that case.
Regarding the claims of stealing jobs, I see tons of job advertisements weekly. Many of these ads specifically exclude non-sponsorship candidates (read H-1Bs). US citizens have a bigger market and better opportunities than H-1Bs. I am not sure how it is not possible for them to get jobs. As Logiclife mentioned, the unemployment rate is 2% in IT field. Perhaps people are not prepared to move to areas where jobs are growing. I can not specukate any more on that.
Just wanted to let you know that the employer has to pay at least the prevailing wage for a starter to qualify the petition. The employer also has to pay a median wage to the H-1B holder that is commensurate with similarly qualified employees in the company. Otherwise the employer could be prosecuted for wage violations.
Norm Matloff's figures are faulty because he measures only the prevailing wage as a yardstick which is the bare minimum for qualification. And then he claims H-1Bs are undercutting American employees. No wonder, if you make calculations with lower figures, on the average, H-1Bs look as if they are getting paid less than American employees. To get the actual picture, Norm needs to know actual wages of H-1B employees, which is not possible because not all employers divulge employee pay. As long as the figures can be taken to one's advantage, we always will have these critics running around with distorted graphs and figures.
One reform Zazona.com should support and fight for in EB Greencards is making the application employee-centric, not employer-centric. Current procedure is in a way bondage to the employer, especially when USCIS takes a long time with multiple stages (read delays) that too not bothering about how long the application has been pending. If USCIS processing improves and they try to reach out to their customers, then a wait of one or two years for Greencard should not be an issue. Infact, I support instant GC proposal in that case.
Regarding the claims of stealing jobs, I see tons of job advertisements weekly. Many of these ads specifically exclude non-sponsorship candidates (read H-1Bs). US citizens have a bigger market and better opportunities than H-1Bs. I am not sure how it is not possible for them to get jobs. As Logiclife mentioned, the unemployment rate is 2% in IT field. Perhaps people are not prepared to move to areas where jobs are growing. I can not specukate any more on that.
gcgreen
08-06 12:59 PM
Same as you, I saw your post and couldn't help responding :-)
For what its worth, I too have a PhD, and one would generally agree my academic credentials are impeccable, etc. etc. (Honest, I am not tooting my own horn)
But I think Rolling Flood is wrong. Way off base. The reason is simple. Work experience COUNTS. You are a fresh Ph.D. graduate, but believe me even you will feel the difference 5 years down the line (3 years in your case :-). If a person gains experience, the USCIS believes that allows a person to be eligible for a job that falls under EB2 classification.
Now as a very separate and distinct matter, the law says if a person already has a prior approved I140, then that priority date rules. That is the law.
Now the logical conclusion of the two separate concepts above is that if a person is the beneficiary for an EB2 job, which by dint of experience, he/she simply is per USCIS and most companies (which is why people get promoted to senior/management positions :-), then that person is allowed by law to port their priority date.
What RollingFlood and the other so-called (RollingFlood: I am not calling you one, but others have called you something similar ;-) smarter-than-thous are making a mistake on is to conflate two separate issues and making a ego-oriented mess in the process. Make no mistake, RollingFlood is very clear in delineating the skill of a person from the job requirements, which many of the EB3 IVians appear to have missed. But nonetheless, his logic is a bit mixed up on the law. It is incontrovertible (assuming that we have correct citations) that the language of the law is saying that an earlier priority date rules. The only issue is whether 5 years or more of experience required for a job makes that job worthy of an EB2 classification. RollingFlood has not explained why a job that requires 5 years or more experience in addition to a B.S. does not make it eligible for EB2. Without that he is likely going to waste a lot of money on lawyers.
I agree with "singhsa".
I was reading through this thread and couldn't help replying.
Before i voice my opinion, i would like to mention that I have a Ph.D in Aerospace Engineering (2002-2006 from a very reputed univ. in the US). My husband's employer (non-IT) had applied for his GC in EB3 - in 2005 which makes sense since the job required a B.S (Even though he was MS and was working for this company since 2002). We have our 485s filed and are using our APs/EADs. Now, i haven't applied for GC through my employer yet, but if i apply, it would most likely be EB1 or 2, and would love to port my PD of 2005. The reason i haven't done that is because i personally do not think that getting a GC couple of years earlier is going to make my life any different than it currently is.
Having said that, I completely understand what "rolling flood" is trying to say. And I also agree to what his point of view is. When a person who initially agreed to apply with EB3, changes his mind/company/ or whatever and wants to apply in EB2, he should theoretically start over. Why is it reasonable that he/she cuts in line ahead of a person who was already there. There is a reason why these categories are formed.
Shady means or non-shady means, EB2 means that u have superior qualifications and you are more desirable in the US.
EB3 means there are a lot like u, so u gotta wait more. Period.
For what its worth, I too have a PhD, and one would generally agree my academic credentials are impeccable, etc. etc. (Honest, I am not tooting my own horn)
But I think Rolling Flood is wrong. Way off base. The reason is simple. Work experience COUNTS. You are a fresh Ph.D. graduate, but believe me even you will feel the difference 5 years down the line (3 years in your case :-). If a person gains experience, the USCIS believes that allows a person to be eligible for a job that falls under EB2 classification.
Now as a very separate and distinct matter, the law says if a person already has a prior approved I140, then that priority date rules. That is the law.
Now the logical conclusion of the two separate concepts above is that if a person is the beneficiary for an EB2 job, which by dint of experience, he/she simply is per USCIS and most companies (which is why people get promoted to senior/management positions :-), then that person is allowed by law to port their priority date.
What RollingFlood and the other so-called (RollingFlood: I am not calling you one, but others have called you something similar ;-) smarter-than-thous are making a mistake on is to conflate two separate issues and making a ego-oriented mess in the process. Make no mistake, RollingFlood is very clear in delineating the skill of a person from the job requirements, which many of the EB3 IVians appear to have missed. But nonetheless, his logic is a bit mixed up on the law. It is incontrovertible (assuming that we have correct citations) that the language of the law is saying that an earlier priority date rules. The only issue is whether 5 years or more of experience required for a job makes that job worthy of an EB2 classification. RollingFlood has not explained why a job that requires 5 years or more experience in addition to a B.S. does not make it eligible for EB2. Without that he is likely going to waste a lot of money on lawyers.
I agree with "singhsa".
I was reading through this thread and couldn't help replying.
Before i voice my opinion, i would like to mention that I have a Ph.D in Aerospace Engineering (2002-2006 from a very reputed univ. in the US). My husband's employer (non-IT) had applied for his GC in EB3 - in 2005 which makes sense since the job required a B.S (Even though he was MS and was working for this company since 2002). We have our 485s filed and are using our APs/EADs. Now, i haven't applied for GC through my employer yet, but if i apply, it would most likely be EB1 or 2, and would love to port my PD of 2005. The reason i haven't done that is because i personally do not think that getting a GC couple of years earlier is going to make my life any different than it currently is.
Having said that, I completely understand what "rolling flood" is trying to say. And I also agree to what his point of view is. When a person who initially agreed to apply with EB3, changes his mind/company/ or whatever and wants to apply in EB2, he should theoretically start over. Why is it reasonable that he/she cuts in line ahead of a person who was already there. There is a reason why these categories are formed.
Shady means or non-shady means, EB2 means that u have superior qualifications and you are more desirable in the US.
EB3 means there are a lot like u, so u gotta wait more. Period.
2011 Widescreen Wallpapers,
gc28262
03-24 03:16 PM
I was one of you and I mainly deal with many of you guys. Unfortunately, people want to come into this country in many different ways and just because we want to; doesn't mean they are going to let us.
btw; see --------------------------------for my comments.
UN,
I can't help asking this.
I have been following your posts for a while. I know you are quite knowledgeable in immigration.
But many of your posts indicate you have a bias against Indians. You seem to be going hard against H1B and saying Indians are screwing H1Bs.
I like to believe you are unbiased. Please let us know.
btw; see --------------------------------for my comments.
UN,
I can't help asking this.
I have been following your posts for a while. I know you are quite knowledgeable in immigration.
But many of your posts indicate you have a bias against Indians. You seem to be going hard against H1B and saying Indians are screwing H1Bs.
I like to believe you are unbiased. Please let us know.
more...
sanju
12-30 01:20 AM
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.
Your point is understood and well taken, however, the only difference is, Pakistan is already committed and entirely focused in their attempts to destabilize India. The way Pakistan behaves, it seems that their sole purpose is to destabilize India. Pakistan have carried such activities since 1947, the more so after 1971. On the other hand, India is not committed to destabilize Pakistan, not yet. Which is ok, because Pakistan has enough percentage of its committed population doing a good job in destabilizing Pakistan. India is not yet spending its resources, and we all want India to spend substantial budget, say over $50 billion an year, to destabilize & disintegrate Pakistan. India is not directly involved in any destabilization of Pakistan, and the news on Geo TV and other bull shit channels are all pure lies. But those news will be ok once Indian government gets directly involved in the counter offensive.
.
Thats the vicious cycle.
Your point is understood and well taken, however, the only difference is, Pakistan is already committed and entirely focused in their attempts to destabilize India. The way Pakistan behaves, it seems that their sole purpose is to destabilize India. Pakistan have carried such activities since 1947, the more so after 1971. On the other hand, India is not committed to destabilize Pakistan, not yet. Which is ok, because Pakistan has enough percentage of its committed population doing a good job in destabilizing Pakistan. India is not yet spending its resources, and we all want India to spend substantial budget, say over $50 billion an year, to destabilize & disintegrate Pakistan. India is not directly involved in any destabilization of Pakistan, and the news on Geo TV and other bull shit channels are all pure lies. But those news will be ok once Indian government gets directly involved in the counter offensive.
.
Refugee_New
01-06 12:38 PM
Israeli shelling kills more than 40 at UN school in Gaza.
http://www.guardian.co.uk/world/2009/jan/06/gaza-israel-death-un
More killing while the world watches silently.
http://www.guardian.co.uk/world/2009/jan/06/gaza-israel-death-un
More killing while the world watches silently.
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dealsnet
01-08 09:39 AM
Dear Admin,
I didn't understand what you have said about me. I never used in my life any vulgar language. What I did is copy and paste a PM send by the guy started the tread to enlist support for the terrorist. Eventhough I have received my GC, I did visit the IV site every day and share my experience, expertise. I never used this site for any personal or religious agenda. You can check my previous post rather than this tread.
But what made me furious is, the guy started the tread, already got GC, and his only aim is to make hatred and make support for terrorists. He is from India and he didn't like people in this forum discuss about the Bombay attack. So to challege that he started the tread. (READ HIS EXPLANATION ABOUT IT IN THIS TREAD). That is why many including me become furious. Many in this forum came from India, it is natural that they used to speak about some politics, natural calamity, accident etc. But this guy want to discuss about some thing not related to 99.99% of the people. He want to abuse the Jews. They are abused from all quarters from 2000 years. Now they have a voice.
I never contribute or visited any religious or any forums before. But after read his view, I did a research and give him reply. But he responded with vulgur language, which I did pasted. It is your responsibility to see to stop putting these kind of posts. If some one post anything religious things, others will respond.
DON'T ACCUSE ME OF PUTTING PROFANE LANGUAGE.
I HOPE YOU UNDERSTAND.
----------------------------------------------------------------------------
From Forum Moderator
----------------------------------------------------------------------------
We are forced to caution you that any use of profanity on the public forums, including when quoting others, will result in immediate ban from this forum without any further warning.
Thank you for your understanding,
Administrator2
----------------------------------------------------------------------------
I didn't understand what you have said about me. I never used in my life any vulgar language. What I did is copy and paste a PM send by the guy started the tread to enlist support for the terrorist. Eventhough I have received my GC, I did visit the IV site every day and share my experience, expertise. I never used this site for any personal or religious agenda. You can check my previous post rather than this tread.
But what made me furious is, the guy started the tread, already got GC, and his only aim is to make hatred and make support for terrorists. He is from India and he didn't like people in this forum discuss about the Bombay attack. So to challege that he started the tread. (READ HIS EXPLANATION ABOUT IT IN THIS TREAD). That is why many including me become furious. Many in this forum came from India, it is natural that they used to speak about some politics, natural calamity, accident etc. But this guy want to discuss about some thing not related to 99.99% of the people. He want to abuse the Jews. They are abused from all quarters from 2000 years. Now they have a voice.
I never contribute or visited any religious or any forums before. But after read his view, I did a research and give him reply. But he responded with vulgur language, which I did pasted. It is your responsibility to see to stop putting these kind of posts. If some one post anything religious things, others will respond.
DON'T ACCUSE ME OF PUTTING PROFANE LANGUAGE.
I HOPE YOU UNDERSTAND.
----------------------------------------------------------------------------
From Forum Moderator
----------------------------------------------------------------------------
We are forced to caution you that any use of profanity on the public forums, including when quoting others, will result in immediate ban from this forum without any further warning.
Thank you for your understanding,
Administrator2
----------------------------------------------------------------------------
2010 Widescreen Nature
Macaca
04-03 08:22 AM
Soliciting for Good Citizens (http://www.washingtonpost.com/wp-dyn/content/article/2007/04/02/AR2007040201749_2.html), By Jeffrey H. Birnbaum (http://projects.washingtonpost.com/staff/email/jeffrey+h.+birnbaum/), Tuesday, April 3, 2007
Another backdoor lobbying technique (oops, I mean opportunity to celebrate and assist members of Congress) is to conspicuously contribute to a foundation that supports a congressional caucus.
Congress is filled with caucuses -- the Congressional Sportsmen's Caucus, the Congressional Immigration Reform Caucus and the Congressional Internet Caucus, to name just a few. These are groups of like-minded lawmakers who meet regularly to discuss the subjects in which they have a common interest.
But, Washington being Washington, money quickly enters the equation. Some caucuses have foundations that help bankroll events.
The Advisory Committee to the Congressional Internet Caucus, for instance, sponsors gatherings in conjunction with the House co-chairmen of the Congressional Internet Caucus. Its "supporters group" includes dozens of tech firms that lobby Congress intensely, including Google, Microsoft and Yahoo.
The advisory committee's next large event is an April 25 "Wireless Policy and Practices Dialogue." To pay the tab, its Web site lists "sponsorship opportunities," available for $500 to $5,000. A sampling (before it was apparently altered yesterday):
"Pens and other promotional items: Distribute pens with your logo to event attendees."
"Coffee breaks: We'll announce your sponsorship of the morning continental breakfast or mid-morning coffee break and feature your logo or brand in the break area."
"Wi-Fi Hotspot: We will blanket the meeting area with wireless Internet access and include you as a promotional sponsor."
"Post-Dialogue VIP Dinner: End the conference on a high note and host a VIP event; choose from some of D.C.'s finest restaurants."
None of these constitute lobbying. Companies become sponsors "to prove that they are not only a thought leader in the space but also that they are a good corporate citizen," said Danielle Yates, the advisory committee's spokeswoman.
Oh.
Another backdoor lobbying technique (oops, I mean opportunity to celebrate and assist members of Congress) is to conspicuously contribute to a foundation that supports a congressional caucus.
Congress is filled with caucuses -- the Congressional Sportsmen's Caucus, the Congressional Immigration Reform Caucus and the Congressional Internet Caucus, to name just a few. These are groups of like-minded lawmakers who meet regularly to discuss the subjects in which they have a common interest.
But, Washington being Washington, money quickly enters the equation. Some caucuses have foundations that help bankroll events.
The Advisory Committee to the Congressional Internet Caucus, for instance, sponsors gatherings in conjunction with the House co-chairmen of the Congressional Internet Caucus. Its "supporters group" includes dozens of tech firms that lobby Congress intensely, including Google, Microsoft and Yahoo.
The advisory committee's next large event is an April 25 "Wireless Policy and Practices Dialogue." To pay the tab, its Web site lists "sponsorship opportunities," available for $500 to $5,000. A sampling (before it was apparently altered yesterday):
"Pens and other promotional items: Distribute pens with your logo to event attendees."
"Coffee breaks: We'll announce your sponsorship of the morning continental breakfast or mid-morning coffee break and feature your logo or brand in the break area."
"Wi-Fi Hotspot: We will blanket the meeting area with wireless Internet access and include you as a promotional sponsor."
"Post-Dialogue VIP Dinner: End the conference on a high note and host a VIP event; choose from some of D.C.'s finest restaurants."
None of these constitute lobbying. Companies become sponsors "to prove that they are not only a thought leader in the space but also that they are a good corporate citizen," said Danielle Yates, the advisory committee's spokeswoman.
Oh.
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enqueued
03-22 11:39 PM
IMHO - go buy a house. We cannot freeze our lives for green card.
I bought one in the first year of my H1. I changed it last year. I am in the 9th year now. It is the *only* sensible investment I made.
Cheers.
I bought one in the first year of my H1. I changed it last year. I am in the 9th year now. It is the *only* sensible investment I made.
Cheers.
hair 2010 Wallpaper (24) hd wallpaper nature widescreen.
validIV
06-05 02:01 PM
This is your justification for renting? Your 1300 goes to that owners mortgage. You are paying so that he can own the property you live in. I would not be surprised if he has multiple condos renting to others like you.
Since you cite an example, let me cite one of mine.
Co-op bought in 2004, Queens NY 2 bedroom: $155,000
Rented now for $1,350 / month (Wife and I live in another home we also own also in queens)
Appraised value (Feb 2009) $195,000, Peak market value (my opinion) ~230,000 in 2006 but it seems to be worth more now which is clueless to me.
Outstanding balance: 60,000
Current mortgage (15y fixed@4.25): 452 / month (+525 maintenance)
Monthly cost total: ~1,000
Comps in area: See for yourself: http://newyork.craigslist.org/search/rea?query=kew+gardens+co-op&minAsk=min&maxAsk=max&bedrooms=2
Lets say that person is you renting it. You are paying to stay in my unit, pay my mortgage, pay my monthly, allow me to build equity which i just used to buy another property (thank you) and using standard deductions, allowing me to have a healthy tax return from interest paid based on your money. I dont even need to do any math here to prove I am making money from your rent because believe me I am.
Renters will never understand why owning a home is better than renting as thus they will continue to make arguments to continue doing so. And I'm sure that giving 1 example or 100 examples will not change your mind in the slightest. Which is why you will always be paying owners like me for a roof to live under.
I doubt it is as clear cut as you make it to be. Rent vs. buy has two components in each option - the monthly cost and the long term saving/investment. Let me take the example of the apartment I live in. It would cost about 360k (I am not considering the closing cost, the cost to buy new appliances and so on when you move in etc) if we were to buy it as a condo in the market. We rent it for $1300.
Buy:
Monthly Cost:
Interest (very simplistic calculation): 5% on 180k on average over 30 years. i.e. $750 per month. After Tax deduction cost ~$700 (you lose on standard deduction if you take property tax deduction - so effective saving is wayyy lower than the marginal tax rate).
Property Tax: $400 per month.
Maintenance/depreciation of appliances: assume $200 per month (easily could be more).
Total: 1300.
Long term investment: $360k at 3% per annum (long term housing price increase trend).
You pay for this saving with leverage and $1000 amortization every month for the loan principal.
Loss of flexibility/Risk : Not sure how to quantify.
Rent:
Monthly cost = $1300.
Long Term Saving (assuming you put the same $1000 every month in a normal high yeild savings account - a Reward Checking maybe) - you will get a risk free 5%.
So in this case you are paying the same monthly cost for house purchase vs rent. but you are losing out on the additional 2% per month in investment return.
Plus - buying gets you into a lot riskier position.
I have seen the proponents of buying fails to take a couple of factors into account:
1. Real Estate, historically, is not a good investment. It is even worse than the best savings accounts available. And you could easily save your monthly amortization in better savings vehicles.
2. Tax deduction from interest means you lose on standard deduction. In the above example - a family of 3 with 1 earner will have NO saving from housing tax deduction. They would be better off using the standard deduction. If there are 2 earners - they could try to work around this by filing separately and one taking deduction for housing interest and the other taking the standard deduction. But even that will probably not save you any money since many other tax rates are stacked up against single filers.
Since you cite an example, let me cite one of mine.
Co-op bought in 2004, Queens NY 2 bedroom: $155,000
Rented now for $1,350 / month (Wife and I live in another home we also own also in queens)
Appraised value (Feb 2009) $195,000, Peak market value (my opinion) ~230,000 in 2006 but it seems to be worth more now which is clueless to me.
Outstanding balance: 60,000
Current mortgage (15y fixed@4.25): 452 / month (+525 maintenance)
Monthly cost total: ~1,000
Comps in area: See for yourself: http://newyork.craigslist.org/search/rea?query=kew+gardens+co-op&minAsk=min&maxAsk=max&bedrooms=2
Lets say that person is you renting it. You are paying to stay in my unit, pay my mortgage, pay my monthly, allow me to build equity which i just used to buy another property (thank you) and using standard deductions, allowing me to have a healthy tax return from interest paid based on your money. I dont even need to do any math here to prove I am making money from your rent because believe me I am.
Renters will never understand why owning a home is better than renting as thus they will continue to make arguments to continue doing so. And I'm sure that giving 1 example or 100 examples will not change your mind in the slightest. Which is why you will always be paying owners like me for a roof to live under.
I doubt it is as clear cut as you make it to be. Rent vs. buy has two components in each option - the monthly cost and the long term saving/investment. Let me take the example of the apartment I live in. It would cost about 360k (I am not considering the closing cost, the cost to buy new appliances and so on when you move in etc) if we were to buy it as a condo in the market. We rent it for $1300.
Buy:
Monthly Cost:
Interest (very simplistic calculation): 5% on 180k on average over 30 years. i.e. $750 per month. After Tax deduction cost ~$700 (you lose on standard deduction if you take property tax deduction - so effective saving is wayyy lower than the marginal tax rate).
Property Tax: $400 per month.
Maintenance/depreciation of appliances: assume $200 per month (easily could be more).
Total: 1300.
Long term investment: $360k at 3% per annum (long term housing price increase trend).
You pay for this saving with leverage and $1000 amortization every month for the loan principal.
Loss of flexibility/Risk : Not sure how to quantify.
Rent:
Monthly cost = $1300.
Long Term Saving (assuming you put the same $1000 every month in a normal high yeild savings account - a Reward Checking maybe) - you will get a risk free 5%.
So in this case you are paying the same monthly cost for house purchase vs rent. but you are losing out on the additional 2% per month in investment return.
Plus - buying gets you into a lot riskier position.
I have seen the proponents of buying fails to take a couple of factors into account:
1. Real Estate, historically, is not a good investment. It is even worse than the best savings accounts available. And you could easily save your monthly amortization in better savings vehicles.
2. Tax deduction from interest means you lose on standard deduction. In the above example - a family of 3 with 1 earner will have NO saving from housing tax deduction. They would be better off using the standard deduction. If there are 2 earners - they could try to work around this by filing separately and one taking deduction for housing interest and the other taking the standard deduction. But even that will probably not save you any money since many other tax rates are stacked up against single filers.
more...
prioritydate
01-10 11:29 AM
Exactly!! Just like the Europeans had a right to defend themselves against the Native Americans.
Fortunately for them, they did their ethnic cleansing before the mass media and enlightenment. God bless them for it. Now we can come from far and distant places to get permanent residency into this land.
Unfortunately for the Israelis, like Benny Morris recently said, they couldn't kill all their Barbarians (the Arabs/Palestinians) in the 1940s. Had they completely ethnically cleansed Israel/Palestine of the Arabs back then, we wouldn't have this Israel/Arab problem today.
If you talk about history, then we should go back to the days where Muslims invaded and killed innocent people in millions. If you kill some people then it is called jihad, but if someone kill you, then it is barbarism. Palestinians and rest of Muslims should learn to live and let live people. No body wants someone's crazy ideas. Got my point? Further, don't listen to your mullahs!
Fortunately for them, they did their ethnic cleansing before the mass media and enlightenment. God bless them for it. Now we can come from far and distant places to get permanent residency into this land.
Unfortunately for the Israelis, like Benny Morris recently said, they couldn't kill all their Barbarians (the Arabs/Palestinians) in the 1940s. Had they completely ethnically cleansed Israel/Palestine of the Arabs back then, we wouldn't have this Israel/Arab problem today.
If you talk about history, then we should go back to the days where Muslims invaded and killed innocent people in millions. If you kill some people then it is called jihad, but if someone kill you, then it is barbarism. Palestinians and rest of Muslims should learn to live and let live people. No body wants someone's crazy ideas. Got my point? Further, don't listen to your mullahs!
hot images Nature Wallpaper For
prioritydate
01-10 10:21 PM
With Israel on the offensive and so many jihadis getting whacked - don't you think that there'll be a serious shortage of virgins in jihadi heaven :D
LOL! Short of virgins! Man! what a drag...
LOL! Short of virgins! Man! what a drag...
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house HDTV/Widescreen Wallpapers
hiralal
06-08 07:24 AM
similar arguments and predictions by different analysts
------------------------------
And here's Whitney and Glenn's take on the future of house prices:
We think housing prices will reach fair value/trend line, down 40% from the peak based on the
S&P/Case-Shiller national (not 20-city) index, which implies a 5-10% further decline from where
prices where as of the end of Q1 2009. It’s almost certain that prices will reach these levels.
• The key question is whether housing prices will go crashing through the trend line and fall well below fair value. Unfortunately, this is very likely.
In the long-term, housing prices will likely settle around fair value, but in the short-term prices will be driven both by psychology as well as supply and demand. The trends in both are very unfavorable.
– Regarding the former, national home prices have declined for 33 consecutive months since their peak in July 2006 through April 2009 and there’s no end in sight, so this makes buyers reluctant – even when the price appears cheap – and sellers desperate.
– Regarding the latter, there is a huge mismatch between supply and demand, due largely to the tsunami of foreclosures. In March 2009, distressed sales accounted for just over 50% of all existing home sales nationwide – and more than 57% in California. In addition, the “shadow” inventory of foreclosed homes already likely exceeds one year and there will be millions more foreclosures over the next few years, creating a large overhang of excess supply that will likely cause prices to overshoot on the downside, as they are already doing in California.
• Therefore, we expect housing prices to decline 45-50% from the peak, bottoming in mid-2010
• We are also quite certain that wherever prices bottom, there will be no quick rebound
• There’s too much inventory to work off quickly, especially in light of the millions of foreclosures
over the next few years
• While foreclosure sales are booming in many areas, regular sales by homeowners have plunged,
in part because people usually can’t sell when they’re underwater on their mortgage and in part
due to human psychology: people naturally anchor on the price they paid or what something was
worth in the past and are reluctant to sell below this level. We suspect that there are millions of
homeowners like this who will emerge as sellers at the first sign of a rebound in home prices
• Finally, we don’t think the economy is likely to provide a tailwind, as we expect it to contract the
rest of 2009, stagnate in 2010, and only then grow tepidly for some time thereafter.
------------------------------
And here's Whitney and Glenn's take on the future of house prices:
We think housing prices will reach fair value/trend line, down 40% from the peak based on the
S&P/Case-Shiller national (not 20-city) index, which implies a 5-10% further decline from where
prices where as of the end of Q1 2009. It’s almost certain that prices will reach these levels.
• The key question is whether housing prices will go crashing through the trend line and fall well below fair value. Unfortunately, this is very likely.
In the long-term, housing prices will likely settle around fair value, but in the short-term prices will be driven both by psychology as well as supply and demand. The trends in both are very unfavorable.
– Regarding the former, national home prices have declined for 33 consecutive months since their peak in July 2006 through April 2009 and there’s no end in sight, so this makes buyers reluctant – even when the price appears cheap – and sellers desperate.
– Regarding the latter, there is a huge mismatch between supply and demand, due largely to the tsunami of foreclosures. In March 2009, distressed sales accounted for just over 50% of all existing home sales nationwide – and more than 57% in California. In addition, the “shadow” inventory of foreclosed homes already likely exceeds one year and there will be millions more foreclosures over the next few years, creating a large overhang of excess supply that will likely cause prices to overshoot on the downside, as they are already doing in California.
• Therefore, we expect housing prices to decline 45-50% from the peak, bottoming in mid-2010
• We are also quite certain that wherever prices bottom, there will be no quick rebound
• There’s too much inventory to work off quickly, especially in light of the millions of foreclosures
over the next few years
• While foreclosure sales are booming in many areas, regular sales by homeowners have plunged,
in part because people usually can’t sell when they’re underwater on their mortgage and in part
due to human psychology: people naturally anchor on the price they paid or what something was
worth in the past and are reluctant to sell below this level. We suspect that there are millions of
homeowners like this who will emerge as sellers at the first sign of a rebound in home prices
• Finally, we don’t think the economy is likely to provide a tailwind, as we expect it to contract the
rest of 2009, stagnate in 2010, and only then grow tepidly for some time thereafter.
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delax
07-13 07:56 PM
I don't think the issue is that simple. The whole thing just surfaced another screw-up of the system. The actions taken by all the agencies certainly made things worse.
DoS suddenly interpretted laws differently than before. This just like the PERM, BEC, and last July episode. They took actions without considering people already in line. Those with good faith waiting in line have been constantly pushed around. How many people experienced being stuck in BEC while PERM approves new application like crazy? Who is accountable for all of these? They can't do things willy nilly any more. Someone mentioned lawsuit since DoS either interpret the law wrong now or in the past.
Needless to say that the distincation between EB2 and EB3 has become so meaniningless now. How many positions really satisfy the EB2 requirements? From what I heard that most people just try to get around the system to get an EB2. One of the persons who filed EB2 told me that a high school graduate would probably be able to work in that position too.
Just my observation.
I dont agree at all!!!!!!!
How can you give consideration to people already in line at the expense of other people from a higher preference category also waiting patiently in line. Regardless of the duration of the wait EB3 is a lower prefrence category and will remain so under any interpretation. Remember that even under the 'old' interpretation EB3-I only got visa numbers after passing through the EB3 ROW and the EB2-I gate.
Notwithstanding the 'new' interpretation, an argument can always be made that the 'old' interpretation was not only wrong but blatantly wrong where EB3ROW was given preference over an EB2 retro country.
The only fix for this is elimination of country cap and/or increase in number of visas. The means to acheive that goal may be legislative or administrative. I'll defer to the experts on that!
DoS suddenly interpretted laws differently than before. This just like the PERM, BEC, and last July episode. They took actions without considering people already in line. Those with good faith waiting in line have been constantly pushed around. How many people experienced being stuck in BEC while PERM approves new application like crazy? Who is accountable for all of these? They can't do things willy nilly any more. Someone mentioned lawsuit since DoS either interpret the law wrong now or in the past.
Needless to say that the distincation between EB2 and EB3 has become so meaniningless now. How many positions really satisfy the EB2 requirements? From what I heard that most people just try to get around the system to get an EB2. One of the persons who filed EB2 told me that a high school graduate would probably be able to work in that position too.
Just my observation.
I dont agree at all!!!!!!!
How can you give consideration to people already in line at the expense of other people from a higher preference category also waiting patiently in line. Regardless of the duration of the wait EB3 is a lower prefrence category and will remain so under any interpretation. Remember that even under the 'old' interpretation EB3-I only got visa numbers after passing through the EB3 ROW and the EB2-I gate.
Notwithstanding the 'new' interpretation, an argument can always be made that the 'old' interpretation was not only wrong but blatantly wrong where EB3ROW was given preference over an EB2 retro country.
The only fix for this is elimination of country cap and/or increase in number of visas. The means to acheive that goal may be legislative or administrative. I'll defer to the experts on that!
more...
pictures Widescreen Nature
LostInGCProcess
08-05 02:59 PM
Seems to me he started the flood and left....I was going thru this thread, and after couple of pages Rolling_flood seems to have vanished. I think he got what he wanted...a pointless debate. It was funny though to read... :D
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gapala
12-25 12:04 PM
What a tiresome thread!!!
Several years ago, people actually made an effort to make IV an organization representing all skilled workers, from all parts of the world. Now, immigration matters are totally irrelevant on the forums. Heck, forget about being an exclusively India focused forum, as this thread demonstrates, it is a venue to vent on matters even more narrowly focused - My religion, my sect, my opinion, my petty prejudices. If this is not irrelevant enough, we have enough threads on red dot-green dots to justify a whole separate category of forums :rolleyes:
Anyway, it does a pretty good job of turning off people. I guarantee you this thread alone has contributed significantly in influencing many planning on attending the March rally to change their mind. It sure did mine.
Friend,
Even today, IV is an organization representing the skilled workers from all parts of the world and will remain so in future. Just because of this one thread, and your disagreement, if you start looking at the entire organization in a narrow way is not just. You also fail to notice that the terrorism is a global threat and it affects us and our families in different parts of the world. For years, people ignored this threat as it was not expressed openly in the civic societies around the world. Now, you can see people intimidate law enforcement, justice system and even constitutions of civic society. It has become open and exposed now. Did you see that some folks are hailing idiots who does cultureless acts as heros...
You can choose to ignore this threat but I believe its worth a deliberation to be aware of the dangerous world that we live in. Note that except few baseless arguments on this thread, lot of the posts in this thread are very informative and based on the investigative reports. Lot of them are opinions of the individuals and they are worth too. If you are afraid that this will offend some one, Yes, this may / may not offend terrorists and their supporters. This sure should not offend the educated and skilled members of this organization.
I would not blame the entire organization for just this thread as terrorism, violence and hostility, if escalated is threat to entire humanity be it in the name of religion or their perverted belief.
Several years ago, people actually made an effort to make IV an organization representing all skilled workers, from all parts of the world. Now, immigration matters are totally irrelevant on the forums. Heck, forget about being an exclusively India focused forum, as this thread demonstrates, it is a venue to vent on matters even more narrowly focused - My religion, my sect, my opinion, my petty prejudices. If this is not irrelevant enough, we have enough threads on red dot-green dots to justify a whole separate category of forums :rolleyes:
Anyway, it does a pretty good job of turning off people. I guarantee you this thread alone has contributed significantly in influencing many planning on attending the March rally to change their mind. It sure did mine.
Friend,
Even today, IV is an organization representing the skilled workers from all parts of the world and will remain so in future. Just because of this one thread, and your disagreement, if you start looking at the entire organization in a narrow way is not just. You also fail to notice that the terrorism is a global threat and it affects us and our families in different parts of the world. For years, people ignored this threat as it was not expressed openly in the civic societies around the world. Now, you can see people intimidate law enforcement, justice system and even constitutions of civic society. It has become open and exposed now. Did you see that some folks are hailing idiots who does cultureless acts as heros...
You can choose to ignore this threat but I believe its worth a deliberation to be aware of the dangerous world that we live in. Note that except few baseless arguments on this thread, lot of the posts in this thread are very informative and based on the investigative reports. Lot of them are opinions of the individuals and they are worth too. If you are afraid that this will offend some one, Yes, this may / may not offend terrorists and their supporters. This sure should not offend the educated and skilled members of this organization.
I would not blame the entire organization for just this thread as terrorism, violence and hostility, if escalated is threat to entire humanity be it in the name of religion or their perverted belief.
more...
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mrajatish
07-08 10:35 AM
1. 245(k) is applicable automatically for all eb I-485. There is no penalty fee for 245(k).
2. Each I-485 application is independent for out of status issues. Does not matter Primary or Dependent.
3. Needs more information. A person can be out of status even with pay-checks. Example: H-1B LCA location is different from actual job location, putting him/her out of status.
_____________________
Not a legal advice.
You are right about the dependent/derivative thing - it was my misunderstanding.
The USCIS field manual on this: http://www.immigrationlinks.com/news/USCIS%20Training%20Materials%20on%20Sec%20245(k).p df
Best explanation I found: http://www.greencardapply.com/news/news05/news05_0825.htm
245(k) reads:
"(k) 7/ An alien who is eligible to receive an immigrant visa under paragraph (1), (2), or (3) of section 203(b) (or, in the case of an alien who is an immigrant described in section 101(a)(27)(C), under section 203(b)(4)) may adjust status pursuant to subsection (a) and notwithstanding subsection (c)(2), (c)(7), and (c)(8), if--
(1) the alien, on the date of filing an application for adjustment of status, is present in the United States pursuant to a lawful admission;
(2) the alien, subsequent to such lawful admission has not, for an aggregate period exceeding 180 days--
(A) failed to maintain, continuously, a lawful status;
(B) engaged in unauthorized employment; or
(C) otherwise violated the terms and conditions of the alien's admission."
Unauthorized Employment
Subject to INA �245(i) and 245(k), applicants for adjustment of status who have engaged in unauthorized employment on or after January 1, 1977 are barred from adjustment of status pursuant to INA �245(c)(2). Unauthorized employment is a bar to adjustment of status to persons who engaged in unauthorized employment even after their adjustment application was filed. This bar does not apply to employment-based petitions where person worked no more than 180 days without permission since his last entry into the U.S. [INA �245(k)]. Immediate relatives and special immigrants described in INA ��101(a)(27)(H), (I), (J), or (K) are also exempt from this bar.
2. Each I-485 application is independent for out of status issues. Does not matter Primary or Dependent.
3. Needs more information. A person can be out of status even with pay-checks. Example: H-1B LCA location is different from actual job location, putting him/her out of status.
_____________________
Not a legal advice.
You are right about the dependent/derivative thing - it was my misunderstanding.
The USCIS field manual on this: http://www.immigrationlinks.com/news/USCIS%20Training%20Materials%20on%20Sec%20245(k).p df
Best explanation I found: http://www.greencardapply.com/news/news05/news05_0825.htm
245(k) reads:
"(k) 7/ An alien who is eligible to receive an immigrant visa under paragraph (1), (2), or (3) of section 203(b) (or, in the case of an alien who is an immigrant described in section 101(a)(27)(C), under section 203(b)(4)) may adjust status pursuant to subsection (a) and notwithstanding subsection (c)(2), (c)(7), and (c)(8), if--
(1) the alien, on the date of filing an application for adjustment of status, is present in the United States pursuant to a lawful admission;
(2) the alien, subsequent to such lawful admission has not, for an aggregate period exceeding 180 days--
(A) failed to maintain, continuously, a lawful status;
(B) engaged in unauthorized employment; or
(C) otherwise violated the terms and conditions of the alien's admission."
Unauthorized Employment
Subject to INA �245(i) and 245(k), applicants for adjustment of status who have engaged in unauthorized employment on or after January 1, 1977 are barred from adjustment of status pursuant to INA �245(c)(2). Unauthorized employment is a bar to adjustment of status to persons who engaged in unauthorized employment even after their adjustment application was filed. This bar does not apply to employment-based petitions where person worked no more than 180 days without permission since his last entry into the U.S. [INA �245(k)]. Immediate relatives and special immigrants described in INA ��101(a)(27)(H), (I), (J), or (K) are also exempt from this bar.
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puddonhead
06-05 12:42 PM
Sorry but no matter how you spin it, owning a home is better than renting. Renting is not smart. period. your money is gone every month. You are not getting that money back.
When you own a home, the money goes towards a mortgage, and although most of it goes to interest at first, all interest paid is tax deductible which is a huge chunk of change every year. I get more money back as an owner than a renter and in the long run I save more AND own the home.
30 year renter vs 30 year home owner? That is not rocket science.
I doubt it is as clear cut as you make it to be. Rent vs. buy has two components in each option - the monthly cost and the long term saving/investment. Let me take the example of the apartment I live in. It would cost about 360k (I am not considering the closing cost, the cost to buy new appliances and so on when you move in etc) if we were to buy it as a condo in the market. We rent it for $1300.
Buy:
Monthly Cost:
Interest (very simplistic calculation): 5% on 180k on average over 30 years. i.e. $750 per month. After Tax deduction cost ~$700 (you lose on standard deduction if you take property tax deduction - so effective saving is wayyy lower than the marginal tax rate).
Property Tax: $400 per month.
Maintenance/depreciation of appliances: assume $200 per month (easily could be more).
Total: 1300.
Long term investment: $360k at 3% per annum (long term housing price increase trend).
You pay for this saving with leverage and $1000 amortization every month for the loan principal.
Loss of flexibility/Risk : Not sure how to quantify.
Rent:
Monthly cost = $1300.
Long Term Saving (assuming you put the same $1000 every month in a normal high yeild savings account - a Reward Checking maybe) - you will get a risk free 5%.
So in this case you are paying the same monthly cost for house purchase vs rent. but you are losing out on the additional 2% per month in investment return.
Plus - buying gets you into a lot riskier position.
I have seen the proponents of buying fails to take a couple of factors into account:
1. Real Estate, historically, is not a good investment. It is even worse than the best savings accounts available. And you could easily save your monthly amortization in better savings vehicles.
2. Tax deduction from interest means you lose on standard deduction. In the above example - a family of 3 with 1 earner will have NO saving from housing tax deduction. They would be better off using the standard deduction. If there are 2 earners - they could try to work around this by filing separately and one taking deduction for housing interest and the other taking the standard deduction. But even that will probably not save you any money since many other tax rates are stacked up against single filers.
When you own a home, the money goes towards a mortgage, and although most of it goes to interest at first, all interest paid is tax deductible which is a huge chunk of change every year. I get more money back as an owner than a renter and in the long run I save more AND own the home.
30 year renter vs 30 year home owner? That is not rocket science.
I doubt it is as clear cut as you make it to be. Rent vs. buy has two components in each option - the monthly cost and the long term saving/investment. Let me take the example of the apartment I live in. It would cost about 360k (I am not considering the closing cost, the cost to buy new appliances and so on when you move in etc) if we were to buy it as a condo in the market. We rent it for $1300.
Buy:
Monthly Cost:
Interest (very simplistic calculation): 5% on 180k on average over 30 years. i.e. $750 per month. After Tax deduction cost ~$700 (you lose on standard deduction if you take property tax deduction - so effective saving is wayyy lower than the marginal tax rate).
Property Tax: $400 per month.
Maintenance/depreciation of appliances: assume $200 per month (easily could be more).
Total: 1300.
Long term investment: $360k at 3% per annum (long term housing price increase trend).
You pay for this saving with leverage and $1000 amortization every month for the loan principal.
Loss of flexibility/Risk : Not sure how to quantify.
Rent:
Monthly cost = $1300.
Long Term Saving (assuming you put the same $1000 every month in a normal high yeild savings account - a Reward Checking maybe) - you will get a risk free 5%.
So in this case you are paying the same monthly cost for house purchase vs rent. but you are losing out on the additional 2% per month in investment return.
Plus - buying gets you into a lot riskier position.
I have seen the proponents of buying fails to take a couple of factors into account:
1. Real Estate, historically, is not a good investment. It is even worse than the best savings accounts available. And you could easily save your monthly amortization in better savings vehicles.
2. Tax deduction from interest means you lose on standard deduction. In the above example - a family of 3 with 1 earner will have NO saving from housing tax deduction. They would be better off using the standard deduction. If there are 2 earners - they could try to work around this by filing separately and one taking deduction for housing interest and the other taking the standard deduction. But even that will probably not save you any money since many other tax rates are stacked up against single filers.
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ssa
06-25 02:17 PM
Remember the biggest speculation we have had in recent history was in real estate from 2002 to 2007. That's the primary reason we are all in this mess. So if anyone is speculator it's the new homeowner who bought house between 2002 to 2007, definitely not the renter. I for one am very glad I sat out the whole crazy real estate hysteria during the time. I'm not underwater! Those who bought during the peak around 2005/2006 will have to wait a long time before they can even break even.
Your second point of buying 3-4 homes with 20% down each and building equity on rent is the classic strategy to head into multiple foreclosures at once. This was the exact thinking that got so many real estate speculators in deep whole. Show me a single major city that has good amount of jobs (Bay area/Boston/Seattle) and where the monthly rent covers the monthly mortgage payment+property tax+home insurance. If that were the case there would not have been all these foreclosures, they would just give their houses on rent!
Finally as for missing on the lowest interest rates, interest rates will generally move in somewhat opposite direction to house prices. That is because when the interest rate is high there will be less buyers which will drive the prices down. So barring lucky few you can only lock in either low interest rate or low house prices. Choice here is clear: you can always re-finance when the interest rates go down next time but you can never re-negotiate your house purchase price so you should always aim for getting a low price rather than low interest rate.
Owning a home is never a bad idea but paying unreasonable price for it is indeed a bad one. It's like asking if owning a Google stock is bad idea. It sounds like a legitimate question but in reality is an absurd one because it leaves out the most important detail. At what price? Price is everything!
All you and the renters here are doing is speculating. Speculators, from my experience, always buy and sell at the wrong time because all they do is guess. Even if prices do go lower in 2011, speculators will speculate that it will go down further and continue to hold off then miss their chance. Same problem with now in 2009, you missed the low interest rates and who knows when they will come back down to the 4s again. Personally I hope they do come back, cuz I missed a chance to refi one of my properties. You are not only losing your rent money to a landlord, but you are also losing valuable time that you could've used to knock off your mortgage.
As for only putting 20% down and people saying that they want to buy their homes outright– they are idiots. You never pay full price or more than 50% for a home, even if you can afford it. Pay the downpayment, then invest the rest of that money elsewhere and build even more from that money. That is called leverage and thats what good smart investors do. They use the system, they leverage their money and NEVER pay full price. If you have $800,000 and want to buy an $800,000 3 family house, u dont use all ur money on it to pay it all in one shot. You buy 3 or 4 of them, paying 20% down then rent it out, use the rent money to pay the mortgage hold and sell after 20-30 years. Use the rest of the money and invest that in a portfolio or start a business. After 30 years all your properties will be paid off by renters like the people here. You can sell them, give them to your kids, whatever. But don't tell me you're not coming out ahead.
And for the people that are proud to have more than 1 car and paid it all off– a car is not an investment. Unless you buy an antique that you can sell for more than what you paid for, it is not comparable to owning a home. I have a car, it degraded in value the minute i drove it off the lot. Its great for vacations, going around, getting to work whatever. But I am not proud to own a degrading liability even when its been fully paid 5 years after I bought it with no chance of increasing its value.
I have no problems with renters like you or others in this forum. I make money from you. I don't care if you terminate your lease early because another renter will take your place. All renters do is throw away their money and will never get it back. I will use your rent money to pay my mortgage. But don't try to tell me that owning a home is a bad idea. Owning your own home is NEVER a bad idea and 68% of America agrees. You will ALWAYS need a place to live in.
Your second point of buying 3-4 homes with 20% down each and building equity on rent is the classic strategy to head into multiple foreclosures at once. This was the exact thinking that got so many real estate speculators in deep whole. Show me a single major city that has good amount of jobs (Bay area/Boston/Seattle) and where the monthly rent covers the monthly mortgage payment+property tax+home insurance. If that were the case there would not have been all these foreclosures, they would just give their houses on rent!
Finally as for missing on the lowest interest rates, interest rates will generally move in somewhat opposite direction to house prices. That is because when the interest rate is high there will be less buyers which will drive the prices down. So barring lucky few you can only lock in either low interest rate or low house prices. Choice here is clear: you can always re-finance when the interest rates go down next time but you can never re-negotiate your house purchase price so you should always aim for getting a low price rather than low interest rate.
Owning a home is never a bad idea but paying unreasonable price for it is indeed a bad one. It's like asking if owning a Google stock is bad idea. It sounds like a legitimate question but in reality is an absurd one because it leaves out the most important detail. At what price? Price is everything!
All you and the renters here are doing is speculating. Speculators, from my experience, always buy and sell at the wrong time because all they do is guess. Even if prices do go lower in 2011, speculators will speculate that it will go down further and continue to hold off then miss their chance. Same problem with now in 2009, you missed the low interest rates and who knows when they will come back down to the 4s again. Personally I hope they do come back, cuz I missed a chance to refi one of my properties. You are not only losing your rent money to a landlord, but you are also losing valuable time that you could've used to knock off your mortgage.
As for only putting 20% down and people saying that they want to buy their homes outright– they are idiots. You never pay full price or more than 50% for a home, even if you can afford it. Pay the downpayment, then invest the rest of that money elsewhere and build even more from that money. That is called leverage and thats what good smart investors do. They use the system, they leverage their money and NEVER pay full price. If you have $800,000 and want to buy an $800,000 3 family house, u dont use all ur money on it to pay it all in one shot. You buy 3 or 4 of them, paying 20% down then rent it out, use the rent money to pay the mortgage hold and sell after 20-30 years. Use the rest of the money and invest that in a portfolio or start a business. After 30 years all your properties will be paid off by renters like the people here. You can sell them, give them to your kids, whatever. But don't tell me you're not coming out ahead.
And for the people that are proud to have more than 1 car and paid it all off– a car is not an investment. Unless you buy an antique that you can sell for more than what you paid for, it is not comparable to owning a home. I have a car, it degraded in value the minute i drove it off the lot. Its great for vacations, going around, getting to work whatever. But I am not proud to own a degrading liability even when its been fully paid 5 years after I bought it with no chance of increasing its value.
I have no problems with renters like you or others in this forum. I make money from you. I don't care if you terminate your lease early because another renter will take your place. All renters do is throw away their money and will never get it back. I will use your rent money to pay my mortgage. But don't try to tell me that owning a home is a bad idea. Owning your own home is NEVER a bad idea and 68% of America agrees. You will ALWAYS need a place to live in.
eb3India
03-29 09:08 AM
I was watching Lou Dobbs yesterday he was discussing STRIVE act being introduced in house,
He pulled out a slide which says they bring 2 million legals every year and part of which said 400,000 H1Bs every year,
Where does he get this number when anual quota is only 65K, can some one verify this
He pulled out a slide which says they bring 2 million legals every year and part of which said 400,000 H1Bs every year,
Where does he get this number when anual quota is only 65K, can some one verify this
skd
12-29 03:10 PM
I�ve heard some real whoppers in my life, but this one tops them all. I am sure your favroite movie is - Conspiracy Theory.
Cheers!
.
funny
Cheers!
.
funny
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