Wednesday, June 29, 2011

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  • validIV
    06-25 03:36 PM
    The only way renting is not throwing money away is if you can claim it as a tax expense (business for example). Otherwise you may as well be smoking that money every month. There is no way for you to recoup rent money, no matter what logic you may claim is sound. Renting should only be used as a stepping stone, to save up enough money to buy.

    If your monthly rent is less than your mortgage and you do not believe the house price is going to appreciate in near term (both true in the area I live in) then renting is NOT throwing money away. Don't borrow lines from realtors. If you pay more for living in a comparable house and your house is not appreciating what's the return on your money that you are paying extra?




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  • dixie
    07-15 12:49 PM
    Let us be honest. A lot of us who came through body shops had to pay lawyer fee or had to take a cut in pay. Many of us had to sit in the bench for a long time with out pay. At the end of the day, not all of us are the best and the brightest but we are ready to work harder than the average Joe. With or without us this country will go forward. We are here to get a greencard and to become part of the melting pot. Please admit it my friends. I fully understands why many Americans are against us. We simply take their job. Then we insult them. Then we say, if we go back the American economy will go to hell. The companies are here for cheap labor. The congressmen who support them are the biggest receivers of their contribution. That is the reality. Let us not forget that. :D

    When did we ever insult americans ? that is purely a figment of your own imagination. If we did we wouldnt have the face to ask for reforms to the GC process the way we are doing now. We never claimed america would collapse if we departed .. but make no mistake we DO make a HUGE contribution to this country, disproportionate to our relative numbers. Low wage bodyshops are the bad apples; that is hardly representative of the EB-H1B community at large. And it is highly cynical of you to believe congressmen initiate reforms solely for contributions; while that is a factor, it can never be the sole one. The american electorate is there to give them the boot next time they ask for their votes. You still have a lot to learn about how the world works my friend.




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  • ghost
    07-15 01:29 PM
    Every forum has its set of jokers like loveh1b. They live in their own well and think it is the world. Thats how these generalizations come.

    Don't be so harsh on people like "loveh1b". We need to educate them with the actual situation, not scare them away with such statements.

    Hopefully, loveh1b will gain from our perspectives and change his attitude towards the US legal immigration system. Not to mention, s/he can educate other people on how things work in a global economy.




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  • NKR
    04-15 10:16 PM
    The evidence is overwhelming. The housing will go down so much that there will be hard lessons learned. No one will talk about investing in housing for a long time. I want to buy a house too. I just don't think you pay whatever the inflated price is demanded and throw away my hard earned money. You pay what is worth. Why do you insist that everyone has to participate in this ponzi scheme and keep the price inflated? Housing should be affordable and come to sane levels and I believe it will.
    .


    Ok Dude, I will try just one last time, nobody is advocating buying a house when the market is bad. The question someone asked was is it ok to buy a house when I485 is pending, and the answer given was if he has found a very good deal, in a very good location and considering his situation if it is affordable then I485 should not be a hindrance. People who were still on H1 have bought a house when the market was good and they are doing well now. Some people who got GC might have bought a house just before the market came crashing down and they were plain unlucky. I myself bought a small affordable home when I had just my labor stage cleared. If when I bought this house the market was like this, I would not have bought but would have waited. Period.

    And for those who become nostalgic. I myself was bought up in a small house, it had only two rooms, I repeat, the whole house had just two rooms, nothing else. We had to share a toilet with 3 other houses of similar size, was I happy then?, Of course I was happy, I used to play cricket and other sports on the street with other kids with vehicles passing by once in a while. Is the situation same here?. No, but do kids here have other ways of having fun, oh yes. It doesn�t matter if the kid is living in an apartment or a house, all that matters is if he is having fun. Somebody came up with a strange logic that our love for our kids will diminish if we buy a house. If you have bought a decent, affordable house your love will not diminish, it will only manifold.

    I am not against renting, nor against people living in an apartment, I myself have lived in apartments before. I am against people who only want to save for god knows what, for people who are afraid to take small risks (for ex: buying a small home and not a mansion) when the market becomes good, they will ask you to prepare for the worst case scenario. They will say don�t buy a house because the sky will fall or don�t buy because the world will come to an end. Nothing is permanent here, not the job, not the location. You just have to take calculated risks. You just cannot console yourself saying you are from middle class and cannot do a thing, lift yourself up. If you want to buy a house but you are not doing it now because the market is bad, then I am not against you, so don�t jump on me.



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  • sledge_hammer
    06-25 02:56 PM
    If you have only been reading all the doomsday articles on the net about another nosedive in the realestate market, then I must suggest you to step out and smell the coffee. Other than in a few areas like Detroit and Miami, the home prices are close to stable and are not heading to fall another 10%. When people write articles they want to sensationalize thier reports. What's happening in Detriot will not be happening everywhere in the nation. Real estate markets are very local and cannot be generalized. So anyone that is thinking that there is going to be another HUGE drop in home prices are mistaken.

    Yes, you are right, absolutely no one can time the market. That is why it is a great strategy not to speculate, but go by the fact that real estate prices are affordable now and interest rates are the lowest in recent history. Don't think that just because there was a bubble you'll now get good homes for anything more than 5% discount.

    Remember that you probably have a job in the city you live in, and that you are continually employed, means that there are other people around you with jobs. They are ready to snap up homes even before you get to see it from the inside. I see homes that are in bad shape in my county (Fairfax, VA) sitting in the market for months. But the ones that are good goes under contract in less than a week.

    Sledge,
    Nobody is saying that the world is coming to and end in 2 years.IMHO myself and many others would agree that long term buying a house makes sense. The question is does buying now if you haven't already bought your primary residential home make any sense.

    From the current data, Do you think a guy who buys a house in 2009 would come ahead of somebody who would buys in 2011 when the housing market may have fully bottomed out ? I know its impossible to time the market. But all indicators to name a few below point that home prices should continue to decline.


    Unemployment is still on the way up. We will cross 10% anytime soon is a given.
    Excess housing inventory
    Home prices are still above the trend line. Historically its common for the correction to swing even below the trend line before it stabilizes.


    Again IMHO, If you haven't bought a home yet, Save so that you can make a bigger down payment (Own more of the house when you buy one) and check the market again mid 2010.

    Giving your example.
    Lets say guy buys in 2009, and another guy buys in 2011 (Assuming home prices would have further gone down using existing data points).. Who do you think would come ahead in 2019.




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  • sanju_dba
    06-23 03:29 PM
    As of now Single Family Dwelling &Condos owned by corporate ( like banks , invest companies ) is 3.9%.



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  • jung.lee
    04-12 11:52 PM
    :eek:I don't think it's good time to buy in CA.. Just wait for option ARM reset and market will drop more.

    I agree with this statement!

    See this chart?

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

    Most of the higher priced properties purchased in 2003 - 2006 in the coastal areas of California were purchased using Option ARMs. I was talking to an acquaintance last week who was in the loan broking business in Orange County (had to switch careers since then) who told me that over 90% of several hundreds of loans that he was involved with were Option ARMs and very little 3% to no cash down.

    He also said that all the loan guidelines are so strict now that a majority of those who took these dicey loans will not be able to refinance when the payments reset in the next 3-4 years.

    As an example he said he knew someone who had bought a $750k house with 3% down ($22.5k), with an Option ARM at 2% interest only with negative amortization of unpaid interest (i.e. principal payment and a portion ofthe interest payment was "Optional" in the first 3 years). This interest even with today's low interest environment will reset to LIBOR (http://www.bloomberg.com/markets/rates/index.html)+ 3.75%. Furthermore, this will reset to a "fully amortizing loan", i.e. paying principal is no longer an option.

    So can you imagine trying to refinance this house in two years, when it has declined say conservatively 20% in value down to $600k, and one still owes the full amount of $750k+ unpaid principal on the original loan? Right now lenders are asking for a minimum of 20% down and financing no more than 80% of current appraised value. In bubble markets such as ours in CA, they are asking to finance no more than 75% of appraised value in some cases. So all in all, these "homeowners" are pretty much screwed. Experienced observers are positing that there will be increase in foreclosures and walkaways.

    For those who rented and saved, there will be lots of choices in the best areas. Just be patient!




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  • nojoke
    04-06 04:24 PM
    The truth is probably between the extreme pessimism in this post and the unbridled optimism in other posts.



    No. The truth is we are going to see a severe correction. .We need to wake up and stop being in denial. I have shown proof that there are already 50% reduction in some areas from my previous quotes. This is just the begining.



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  • Berkeleybee
    05-17 12:59 PM
    Qualified_trash,

    We (IV Core) have no problem with dissent or discussion. Both gc03 and learning01 each expressed their opinions on reacting to Lou Dobbs.

    On the issue of what to do about Lou Dobbs:

    (1) Lou Dobbs is no friend of ours (immigrants) -- he absolutely doesn't make the list of people we should thank! A little googling will tell you more about Dobbs and his immigration politics. He is using this argument today to further his ends. Not just Dobbs but other anti-immigrants are on a divide and conquer path to kill this version of CIR.

    (2) IV as a group has plenty else to do, so there will be no IV-wide response to Lou Dobb's comment of the day.

    On the other hand, all of our members are individuals, and they are free to express their opinions by calling or writing, so long as they do not claim that these are the opinions of IV as a group.

    best,
    Berkeleybee




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  • sumanitha
    01-07 10:22 AM
    Dude..

    I am not against any religion.. but at the same time when something bad/evil is pointed out in any religion, try to accept it as a part and if you can try to mend it..

    First try to accept thy mistake... then point fingers... (It applies to everyone.. including me)

    Keep barking the same thing again and again. This is not going to make even a small dent on my faith. The more you hate, the more we love our faith.



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  • VivekAhuja
    06-23 12:23 PM
    If you are buying a house as an investment ONLY, then do NOT buy a house on this planet (not just USA). If you are sensible enough, buy a house to LIVE IN. Buy something you like, not something just to sell and make money.
    If you begin to think like this, you will come to a simple conclusion - if my family & I like a particular house in a particular neighbourhood and I can afford it, I will buy it NOW!!

    Everything else you hear in the media and on IV is hogwash - ignore it!!




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  • apt29
    07-29 03:36 PM
    I regret the day when Obama became the president, he is just another politician who does not give a damn about EB2,EB3....he is just worried about "re-uniting families" (aka supporter of illegal immigration)


    I am no supporter of either party. To be fair, the economy could have collapsed without him and most of us could have been back home by now.



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  • django.stone
    06-26 07:13 PM
    as you can see in this chart, 1940 was the lowest point in house values, so obviously the number looks good, but in reality, house prices never increase until the recent crazy buying by financially clueless and greedy

    http://photos1.blogger.com/photoInclude/blogger/6089/1833/1600/shiller.gif




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  • waitnwatch
    05-24 12:17 PM
    Did the brownback amendment pass with the CIR?

    Please spend some time on this website....browse around, get acquainted, find the right threads and you will automatically find your answers. There is no 1800 number to call for assistance here............



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  • conchshell
    08-05 06:51 PM
    By the time, the lion gets the GC, he might have forgot he was a lion, and even after getting GC, he will continue to act like monkey.

    Yes ... this leads to a pale and worried Lion keep worrying that whether he should stay with the current zoo for n number of days before taking a new position at some other zoo.

    Looks like a story plot for Madagascar III




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  • dixie
    05-24 11:59 AM
    Folks,

    I think if you one wants to eliminate or significantly reduce the number of H1B's or immigrant visas, then you can go ahead and label that person "anti-immigrant". I would be with you, saying that is definitely negative to America.

    So far I haven't seen Lou Dobbs doing that though. All the time I watch the program I see that man bringing up legitimate concerns. Lou Dobbs is a hero for Americans. The fact is that in general, wages have been stagnated for the last five years. What I have seen Lou Dobbs bringing up is that H1B numbers should not be increased. Don't you think that is a fair and rational approach ? Tell me. Honestly, when I learned this provision that they want to increase H1B visas at 20% every year, that appeared quite of a stretch to me. Folks, please be more rational and thoughtful please ?


    if you think he is only against INCREASING H1-B visas, but is happy with you and I continuing here on that visa and go on to get GCs, then you are fooling yourself. He is the one primarily responsible for spreading the myth that H1-B workers pay no taxes.To this day, my co-workers openly envy me , because I supposedly dont pay any taxes !!!

    If you go through the transcripts of his shows over the last 4-5 years, he is stauncly against everything foriegn, period. He hates H1-Bs, absolutely hates indian call centers , hates cheap chinese goods, hates illegal aliens ... he is not just anti-immigrant, he is xenophobic.

    The reason he is so popular is because he appeals to populist sentiments .. its the easiest thing in the world to blame foreigners when the economy is bad and believe everything will be hunky-dory if they are kicked out.

    And by the way, I dont see anything wrong in increasing H1-B visas .. after all most of us are here on that visa .. if there is a market demand for them, I see no rational in depriving american employees from hiring foreigners legally. By that logic, are we going to oppose increasing EB green cards once we get our own?? Thats plain hypocrisy.

    Nobody riles me more than lou dobbs .. not tancredo, not sessions, not even FAIR. Because, unlike his worthy friends, he has access to idiot boxes all around america on a daily basis.



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  • pete
    04-09 11:37 AM
    The job description can be put in the way that points to your plus points. If you go the Harvard Biz. school you will have those. I dont think they want you to leave. There will be other avenues out there.


    I am all for cleaning the system and reforming H1B - but I oppose an ill conceived half measure such as the one Senator Durbin/Grassley is proposing.

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

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

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

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

    Just my 2 cents.....




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  • pcs
    05-16 12:54 PM
    Free market economy is the best for mankind. As long as nobody steals, laws should not bind people's imagination & creativity.

    Hiring of H1-B by "consultencies" is like stocking goods in a shop before you open for business. This is an acceptable model for business in any society. I support the process of hiring H1-B by bodyshoppers, BUT would like Congress to implement some guidelines by which H1-B should have more dignified life & freedom to work like.... unlimited freedonm of job changes of employers within 6 years or valid VISA period. Self administration / support of green card process. This single step will cure all evils.

    By the way, I am not an IT guy / bodyshopper




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  • bharol
    01-06 11:26 PM
    Exactly, its about how many people care about the issue. If terrorists kill innocent civilians, first thing they'll say is "Islamic Terrorism". Don't tell me media around the world didn't use this term. Anything and everything blamed on religion and people following the religion.


    There is a reason for that. The organizations which claim responsibility for such attacks have names like Jaish-e-Mohammad, Lashkar-e-Taiba, Deccan Mujahiddin... Now I don't have to explain the meanings of their names. Then they say they are doing Jihad!

    Why would somebody not call them Islamic terrorists?

    Now that does not mean all followers of Islam are Islamic-terrorists.




    amitjoey
    08-05 01:29 PM
    I am an EB3 2003. I think I did qualify for EB2, but the job position did not require me to be in that category, moreover EB2 & Eb3 were both current and various other factors were considered and they decided to apply in EB3.
    NOW: It was my bad that I got stuck in the stupid BEC. A fellow I know with lesser qualifications applied in EB3 in 2004, then changed jobs, applied in EB2 in 2004 and has a green card already.
    DO YOU MEAN TO SAY: THAT YOU ARE GOING TO DENY ME MY 2003 PD IF I APPLY IN EB2. FORGET THINKING ABOUT IT! Not that it is easy or I am doing it. As a matter of fact, I am not interested!.




    GCKaMaara
    12-17 03:49 PM
    Your anger is justified, but what is your contribution to fix this? created a new IV handle TODAY to talk against a faith? So your other handle where you talk only about immigration will be clean? LOL!

    Your are really a brave Indian!

    I was reading posts on 485 Approved what Marphad mentioned. I saw that it was actually you who created new IV handle that day.



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