ArkBird
01-09 05:05 PM
so.. by your logic, Al qaeda has declared war on the United states (they did, OBL issued that declaration some time in the late 90s) civilians die in each war, so alqaeda had every right to kill civilians in 9/11?
Of course not! Intentional targeting of civilians is inexcusable and constitutes a war crime and we should never cease to protest it regardless if it is done by a primitive terrorist or from the comfort of an F-16.
American Army was not hiding in World Trade Center and launching rockets on the civilians in Saudi from there. There was absolutely no target of military importance in WTC. Civilians got killed in Gaza because terrorist were hiding among them.
Quit hiding among women and children and fight like man on battlefield.
Of course not! Intentional targeting of civilians is inexcusable and constitutes a war crime and we should never cease to protest it regardless if it is done by a primitive terrorist or from the comfort of an F-16.
American Army was not hiding in World Trade Center and launching rockets on the civilians in Saudi from there. There was absolutely no target of military importance in WTC. Civilians got killed in Gaza because terrorist were hiding among them.
Quit hiding among women and children and fight like man on battlefield.
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![tattoo songtext. +_lyrics_[songtext]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tMxt84ZvLLl6G3fi53hWf9P8RJgDNa0-BwFONqqkgC2RTdNtzHFNTOowS6AQuPPwGP3BWla73AaSWtAvx2WtDvy8eNE1v5KmpKrA=s0-d "+_lyrics_[songtext]")
senthil1
12-20 04:22 PM
Everybody are blaming Bush for his failure in Iraq and Economy. But Bush had a big acheivement in his period. After 9/11 he successfully prevented Terrorist attacks. That was most important acheivement and that was overshadowed by other failures.
Yes, everybody, all senators, wanted to teach these terrorists a lesson after 9/11.
Afghan war is good and Iraq war is bad. Why, because Iraqis didn't leave WMDs a.k.a nukes behind.
(A weapon of mass destruction (WMD) is a weapon that can kill large numbers of humans and/or cause great damage to man-made structures (e.g. buildings), natural structures (e.g. mountains), or the biosphere in general. The term is often used to cover several weapon types, including nuclear, biological, chemical (NBC), and radiological weapons)
Now, Iraq war went bad, economy went bad (due to main street scamming the banks) and suddenly its all the fault of Mr. Bush.
Yes, everybody, all senators, wanted to teach these terrorists a lesson after 9/11.
Afghan war is good and Iraq war is bad. Why, because Iraqis didn't leave WMDs a.k.a nukes behind.
(A weapon of mass destruction (WMD) is a weapon that can kill large numbers of humans and/or cause great damage to man-made structures (e.g. buildings), natural structures (e.g. mountains), or the biosphere in general. The term is often used to cover several weapon types, including nuclear, biological, chemical (NBC), and radiological weapons)
Now, Iraq war went bad, economy went bad (due to main street scamming the banks) and suddenly its all the fault of Mr. Bush.
Madhuri
04-05 08:12 PM
Jang.Lee,
I totally aggree with you. I am also from socal and a regular visior to irvinehousingblog.
Currenly I am in apt and tired of living in apt, but I am definitely in no rush to buy and would probably find a good private home to rent.
Please check your PM.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
I totally aggree with you. I am also from socal and a regular visior to irvinehousingblog.
Currenly I am in apt and tired of living in apt, but I am definitely in no rush to buy and would probably find a good private home to rent.
Please check your PM.
I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.
The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).
On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.
Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).
Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.
You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))
Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).
Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.
So you stand to lose:
1. Your down payment of $120k
2. Your cash at closing if you sell in 4 years: $55k
3. Rental differential: 48 months X (3700 - 2000) = $81k
Total potential loss: $250,000!!!
This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.
My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier this decade.
2011 +_lyrics_[songtext]
unitednations
03-26 08:49 PM
Thank you UN for wonderful explanation. You hit the nail to the point. Usually USCIS sends these work location queries at the time of 140 processing. I am surprised we are seeing these at I-485 stage. Is there any recent memo related to this by USCIS that you know of?
If you go really far back; california service center when they were adjudicating 140's would the odd time deny a 140 because they didn't believe the intent of joining the company if a person was working in different location (when baltimore case came out; it helped in overturning these types of denials and they stopped doing it).
Now; nebraska service center the odd time did question the intent at the 140 level and also at the 485 level. I haven't seen it much in last three years. However; the ones I did see (they were all approved; thanks to baltimore decision) were for companies which had filed labors in iowa. I believe that this was also one of the catalysts in looking at iowa companies of what is happening today.
If you go really far back; california service center when they were adjudicating 140's would the odd time deny a 140 because they didn't believe the intent of joining the company if a person was working in different location (when baltimore case came out; it helped in overturning these types of denials and they stopped doing it).
Now; nebraska service center the odd time did question the intent at the 140 level and also at the 485 level. I haven't seen it much in last three years. However; the ones I did see (they were all approved; thanks to baltimore decision) were for companies which had filed labors in iowa. I believe that this was also one of the catalysts in looking at iowa companies of what is happening today.
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senthil1
05-16 06:17 PM
Nowadays LCA becomes just a documentation and it does not prevent displacement or any abuse. It may be true that DOL may not have authority and resource to prevent abuse.
Why someone whose permanent labor certificate is approved should have to go thru the process of adertising when his or her H1 is up for renewal? Can you please explain me what is the intent of permanent labor certificate as opposed to LCA in H1?
Why someone whose permanent labor certificate is approved should have to go thru the process of adertising when his or her H1 is up for renewal? Can you please explain me what is the intent of permanent labor certificate as opposed to LCA in H1?
milind70
07-10 12:51 AM
desi is correct...
Everytime you extend non immigrant status; you are extending the white I-94 card on your last entry.
However; if you leave after the last extension and you re-enter then the white I-94 card you receive at the border overrides all previous white I-94 cards; extension of stays.
This is where the problem occurs:
H-1b for company A visa is valid until July 2009 and the h-1b approval for a is also valid until july 2009. You come into USA on white I-94 card and they gave validity until July 2009.
Now; you file for change of employer and extend status until July 2010. The notice of action will have the same I-94 number as the date of your last entry.
Now; you go outside USA; on your way back in the port of entry officer mistakenly gives you a white I-94 card only valid until your visa expires (july 2009). Now; if you overstay July 2009 then you would have been considered to be unlawfully present from July 2009.
Bottom line: your last action generally overrules your stay.
Such mistakes can be corrected by CBP defered inspectors but they will only correct typo errors by the CBP at POE . For other mistakes u need to file Form I 102 with USCIS.
Everytime you extend non immigrant status; you are extending the white I-94 card on your last entry.
However; if you leave after the last extension and you re-enter then the white I-94 card you receive at the border overrides all previous white I-94 cards; extension of stays.
This is where the problem occurs:
H-1b for company A visa is valid until July 2009 and the h-1b approval for a is also valid until july 2009. You come into USA on white I-94 card and they gave validity until July 2009.
Now; you file for change of employer and extend status until July 2010. The notice of action will have the same I-94 number as the date of your last entry.
Now; you go outside USA; on your way back in the port of entry officer mistakenly gives you a white I-94 card only valid until your visa expires (july 2009). Now; if you overstay July 2009 then you would have been considered to be unlawfully present from July 2009.
Bottom line: your last action generally overrules your stay.
Such mistakes can be corrected by CBP defered inspectors but they will only correct typo errors by the CBP at POE . For other mistakes u need to file Form I 102 with USCIS.
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sledge_hammer
03-24 02:44 PM
Okay, sorry if I wrote H-1B. But the "perm" job requirement is for GC.
I kind of mixed the H-1B requirement and GC requirement.
But, the question remains and USCIS needs to clarify what is perm and temp jobs for the purpose of GREEN CARD.
http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=bac7d92e8003f010VgnVCM1000000ecd190aRCR D&vgnextchannel=1847c9ee2f82b010VgnVCM10000045f3d6a1 RCRD
Q : What is an H-1B?
The H-1B is a nonimmigrant classification used by an alien who will be employed temporarily in a specialty occupation or as a fashion model of distinguished merit and ability.
As per USCIS, H1B is for temporary job
I kind of mixed the H-1B requirement and GC requirement.
But, the question remains and USCIS needs to clarify what is perm and temp jobs for the purpose of GREEN CARD.
http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=bac7d92e8003f010VgnVCM1000000ecd190aRCR D&vgnextchannel=1847c9ee2f82b010VgnVCM10000045f3d6a1 RCRD
Q : What is an H-1B?
The H-1B is a nonimmigrant classification used by an alien who will be employed temporarily in a specialty occupation or as a fashion model of distinguished merit and ability.
As per USCIS, H1B is for temporary job
2010 sleeve tattoo by Mildred
nogc_noproblem
08-08 11:46 PM
Good one!!!
I thought the first blonde joke was really very funny - Helloooooooo :)
I thought the first blonde joke was really very funny - Helloooooooo :)
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pitha
04-08 05:43 PM
Bill Preskal (I am not sure about the spelling of his name) is going to introduce a semilar bill in the house within the next few weeks. Seems like there is a well oiled machine which is stream rolling this.
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pete
04-09 11:33 AM
Very true indeed. I am sure you have gone through the full nine yards and understand. Also you will still be an asset no matter what. That is not the case with "consultants". I think they ought to have some kind of licensing.
Like Pharmacists, dostors, nurses, architects . They should have hurdles. There if there aren't any you see what happens.
Don't want to sound selfish, but I agree 100% on this. Where I am employed as a scientist, the employer took great pains to show that I have not displaced any American worker. In fact they have a whole file with documents that support this fact. If I move, my new employer will do the same. I am not scared of this provision in the H1B bill. If you are really the best, only then you deserve to get the job, and then you have no reason to fear this bill.
Like Pharmacists, dostors, nurses, architects . They should have hurdles. There if there aren't any you see what happens.
Don't want to sound selfish, but I agree 100% on this. Where I am employed as a scientist, the employer took great pains to show that I have not displaced any American worker. In fact they have a whole file with documents that support this fact. If I move, my new employer will do the same. I am not scared of this provision in the H1B bill. If you are really the best, only then you deserve to get the job, and then you have no reason to fear this bill.
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Munna Bhai
07-09 05:06 AM
We won`t get any letter from that comapany as my husband din`t exit in good terms.(Ofcourse if they won`t pay him for months).
I do believe in our case the reasons are more to do with the officer dealing the case than with actual technical issues.
In the NOID they said the reason mainly was( he changed from company A to B to C but when he reentered he entered on B instead of C .at that time was not very knowledgeable about all this stuff)he reentry was not legal and was willful misrepresentaton of facts.
Then our lawyer in our reply sent that as long as both visas are still valid it is legal.Then now they state ok his reentry is not wrong only the paystubs part is wrong and stating he never worked for that company chose to deny.
Your case is doable, get hold of some good attorney and tell them all the fact and as long as employer-employee relationship exist, you are on valid H1b. Hence since your Husband was without paystub but his I-94 was valid,it should not create much problem.
But do get intouch with old company.
I do believe in our case the reasons are more to do with the officer dealing the case than with actual technical issues.
In the NOID they said the reason mainly was( he changed from company A to B to C but when he reentered he entered on B instead of C .at that time was not very knowledgeable about all this stuff)he reentry was not legal and was willful misrepresentaton of facts.
Then our lawyer in our reply sent that as long as both visas are still valid it is legal.Then now they state ok his reentry is not wrong only the paystubs part is wrong and stating he never worked for that company chose to deny.
Your case is doable, get hold of some good attorney and tell them all the fact and as long as employer-employee relationship exist, you are on valid H1b. Hence since your Husband was without paystub but his I-94 was valid,it should not create much problem.
But do get intouch with old company.
hot Russian Prison Tattoo, 2009
NeverEndingH1
12-17 04:10 PM
LOL!
Since everyone is posting what they want, I guess I can also just post anything here....
.
Since everyone is posting what they want, I guess I can also just post anything here....
.
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sledge_hammer
06-05 04:01 PM
A very simple, dumbed down calculation to see which one trumps the other, buying or renting:
1. Home Cost: $300,000
2. Down: $ 30,000 (10% of 300k)
3. Mortgage: $270,000
4. Mortgage Interest/yr: $ 13,500 (5% of 270K)
5. Tax, Insurance, Maintenance /yr: $ 9,000 (3% of 300K)
6. Returns on Downpayment otherwise/yr: $ 3,000 (10% of 30K)
7. Rent on a similar home/yr: $ 18,000 (1.5K/month)
8. Equity/yr: $ 15,000 (5% of 300K)
9. Savings on tax deductions/yr: $ 4,050 (30% bracket, $13.5K interest)
I'll take a home appraised and bought for 300K for my example. The numbers are basically self explanatory. Contrary to popular claim among those who are pro renting, I don't think I pay more than 3% for tax, insurance and maintenance combined (item# 5). Of course, I was wise enough to buy a home in good condition. But that number will change as the home gets older. Maintenance should not include any upgrades that you do, which is basically only "gravy" and based on owner's discretion. Item# 6; I am going with the average returns if you invested in S&P 500. Item# 7; is what a similar 300K home costs to rent. Item# 8; I have only taken 5% growth which is I think under normal market conditions is the growth you would see on your home. The principal payment has not been accounted for yet. I'll do it later.
Situation Rent:
If you rent, then your expense per year is item# 7 minus item# 6 = $15,000.
Of course, your capital of $30,000 is still earning compounded returns.
Situation Own:
Your expense is item# 4 + item# 5 - item# 9 - item# 8 = $3,450.
As I mentioned in the first line, this is a dumbed down cost comparator. There are many loopholes that can be plugged. All comments are welcome.
1. Home Cost: $300,000
2. Down: $ 30,000 (10% of 300k)
3. Mortgage: $270,000
4. Mortgage Interest/yr: $ 13,500 (5% of 270K)
5. Tax, Insurance, Maintenance /yr: $ 9,000 (3% of 300K)
6. Returns on Downpayment otherwise/yr: $ 3,000 (10% of 30K)
7. Rent on a similar home/yr: $ 18,000 (1.5K/month)
8. Equity/yr: $ 15,000 (5% of 300K)
9. Savings on tax deductions/yr: $ 4,050 (30% bracket, $13.5K interest)
I'll take a home appraised and bought for 300K for my example. The numbers are basically self explanatory. Contrary to popular claim among those who are pro renting, I don't think I pay more than 3% for tax, insurance and maintenance combined (item# 5). Of course, I was wise enough to buy a home in good condition. But that number will change as the home gets older. Maintenance should not include any upgrades that you do, which is basically only "gravy" and based on owner's discretion. Item# 6; I am going with the average returns if you invested in S&P 500. Item# 7; is what a similar 300K home costs to rent. Item# 8; I have only taken 5% growth which is I think under normal market conditions is the growth you would see on your home. The principal payment has not been accounted for yet. I'll do it later.
Situation Rent:
If you rent, then your expense per year is item# 7 minus item# 6 = $15,000.
Of course, your capital of $30,000 is still earning compounded returns.
Situation Own:
Your expense is item# 4 + item# 5 - item# 9 - item# 8 = $3,450.
As I mentioned in the first line, this is a dumbed down cost comparator. There are many loopholes that can be plugged. All comments are welcome.
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Raju
05-24 03:32 PM
Raju, the unemployment is at 4.7%. That is good, but how about earning power and wage increases ? I hear all the time my friends report that they can no longer afford goods and services as they did five or four years ago. There are plenty of evidence that in many sectors wages have dropped or have stagnated. Is that indication of surplus pr shortage of workers ?
Regarding his idea of sending 15 millions of illegals out, that is not absurd. He never told he wanted to do it overnight. A gradual, slow deportation program yes, it would be probably the best way to handle this.
I am sorry if I look negative to you guys, but my goal is to be sincere and honest about facts here.
I think that wages have gone up drastically during the dotcom bubble and you should expect them to flatten for a few years. Also, the economy is coming out from a bust and that accounts to a little stagnation. It is simple man, the world also has to catch up. If you get the same job done for much less in coutries like China, India, Russia and romania, why do you think the wages will go up, unless there is a new technology, that absolutely needs cutting edge skills. This is the way it has been in ht past, this is the way it is in present and will be this way in future. The services and goods you are talking about will become more expensive if you want to send the undocumented workers out. And the wages may not go up that much because companies can get stuff done in other parts of the world. A reporter should talk about two sides of the issue and I have never seen Lou do that. I do not have the time/interest to find the transcripts but he had been offensive about H1s and I heard him say that H1's do not pay taxes, which is a blunder.
Regarding his idea of sending 15 millions of illegals out, that is not absurd. He never told he wanted to do it overnight. A gradual, slow deportation program yes, it would be probably the best way to handle this.
I am sorry if I look negative to you guys, but my goal is to be sincere and honest about facts here.
I think that wages have gone up drastically during the dotcom bubble and you should expect them to flatten for a few years. Also, the economy is coming out from a bust and that accounts to a little stagnation. It is simple man, the world also has to catch up. If you get the same job done for much less in coutries like China, India, Russia and romania, why do you think the wages will go up, unless there is a new technology, that absolutely needs cutting edge skills. This is the way it has been in ht past, this is the way it is in present and will be this way in future. The services and goods you are talking about will become more expensive if you want to send the undocumented workers out. And the wages may not go up that much because companies can get stuff done in other parts of the world. A reporter should talk about two sides of the issue and I have never seen Lou do that. I do not have the time/interest to find the transcripts but he had been offensive about H1s and I heard him say that H1's do not pay taxes, which is a blunder.
more...
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somegchuh
03-25 12:59 PM
I completely agree that buying a house is a long term move. But I disagree with some of the points:
1. Does rent always go up? No, my rent did not go up at all during the real estate boom as the number of ppl renting was low. Recently my rent has gone up only $75 pm. (love rent control!!!) So in 5 years, my monthly rent has gone up a total of $125 per month
2. I hear about tax rebate for homeowners. But what about property tax?
3. What about mortgage insurance payments?
It is a misconception that 5-10 years is the cycle for real estate.
Here's how in a sane real estate market the cycle should work:
No population influx in your area or there is no exodus from your area:
Your real estate ownership should be 25 years because that's when the next generation is ready to buy houses.
However, in places like SF Bay Area/new York/Boston where there is continuous influx of young working ppl this cycle can be reduced to 15-20 years.
Over the last few years, nobody thought of longevity required to make money in RE. Now that it is tanking ppl are talking about 5-10 years. Unless you are buying in a booming place, your ownership has to be 15+ years to turn a real profit.
This is purely the financial aspect of ownership. If you have a family I think its really nice to have a house but you don't have to really take on the liability. You can rent the same house for much less. But if you are clear in your mind that no matter what I am going to live in XYZ town/city for the next 20 years, go for it.
As a sidenote for Indians. We all have either aging or soon to start aging parents. The way I see it, caring for aging parents is a social debt that we must pay back. This will need me to go back to India. Therefore, if you feel you need to care for your parents, don't commit to a house.
Buying a house is a long term move. Not a short term. The payment for house will remain (pretty much) the same for 30 years! Rental prices will go up every year. And after 30 years of payments, the house will be all yours.
You're also neglecting the tax savings. There'll be appx. $900 per month in tax saving (assuming 25% tax bracket).
Unless you can think and plan 5~10 years ahead (at least), real estate is not for you.
1. Does rent always go up? No, my rent did not go up at all during the real estate boom as the number of ppl renting was low. Recently my rent has gone up only $75 pm. (love rent control!!!) So in 5 years, my monthly rent has gone up a total of $125 per month
2. I hear about tax rebate for homeowners. But what about property tax?
3. What about mortgage insurance payments?
It is a misconception that 5-10 years is the cycle for real estate.
Here's how in a sane real estate market the cycle should work:
No population influx in your area or there is no exodus from your area:
Your real estate ownership should be 25 years because that's when the next generation is ready to buy houses.
However, in places like SF Bay Area/new York/Boston where there is continuous influx of young working ppl this cycle can be reduced to 15-20 years.
Over the last few years, nobody thought of longevity required to make money in RE. Now that it is tanking ppl are talking about 5-10 years. Unless you are buying in a booming place, your ownership has to be 15+ years to turn a real profit.
This is purely the financial aspect of ownership. If you have a family I think its really nice to have a house but you don't have to really take on the liability. You can rent the same house for much less. But if you are clear in your mind that no matter what I am going to live in XYZ town/city for the next 20 years, go for it.
As a sidenote for Indians. We all have either aging or soon to start aging parents. The way I see it, caring for aging parents is a social debt that we must pay back. This will need me to go back to India. Therefore, if you feel you need to care for your parents, don't commit to a house.
Buying a house is a long term move. Not a short term. The payment for house will remain (pretty much) the same for 30 years! Rental prices will go up every year. And after 30 years of payments, the house will be all yours.
You're also neglecting the tax savings. There'll be appx. $900 per month in tax saving (assuming 25% tax bracket).
Unless you can think and plan 5~10 years ahead (at least), real estate is not for you.
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allinall
01-06 03:21 PM
Hello all,
What the starter of this thread saying is human suffering anyhere is the same. Why different yardstick for different re(li)gion? Don't confuse with politics.
What the starter of this thread saying is human suffering anyhere is the same. Why different yardstick for different re(li)gion? Don't confuse with politics.
more...
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lfwf
08-05 03:09 PM
Never said that. That was just a "story" response to a "story" post. The intent of the post is DO NOT TRY TO FRAME THE ISSUE IN ONE STORY. THERE ARE MANY STORIES.
True.
However you offered no answer to the original question raised by the "story". If you spend years doing an advanced degree instead of working with a bachelors, should you be penalized for all those years? many of us are being penalized. We get PDs when we finally start working. And folks who port based on experience working during that time then jump ahead of us in EB2.
You will have to explain how this is fair.
Instead of addressing the issue you threw in the red herring about rich kids. That was uncalled for in this debate. How do we know the EB3 bachelors was not paid for by rich parents? And are we now to penalize those with rich parents?
I worked through many years and educated myself highly. Now I am to be told that anyone who came to the US with me OR after me and managed to get a job early on and a PD, has to be ahead of me because they were "waiting"? So I was not waiting just because I got advanced degrees and had to wait for my PD? Why do you think preference categories were created at all? Why not just one big pool?
True.
However you offered no answer to the original question raised by the "story". If you spend years doing an advanced degree instead of working with a bachelors, should you be penalized for all those years? many of us are being penalized. We get PDs when we finally start working. And folks who port based on experience working during that time then jump ahead of us in EB2.
You will have to explain how this is fair.
Instead of addressing the issue you threw in the red herring about rich kids. That was uncalled for in this debate. How do we know the EB3 bachelors was not paid for by rich parents? And are we now to penalize those with rich parents?
I worked through many years and educated myself highly. Now I am to be told that anyone who came to the US with me OR after me and managed to get a job early on and a PD, has to be ahead of me because they were "waiting"? So I was not waiting just because I got advanced degrees and had to wait for my PD? Why do you think preference categories were created at all? Why not just one big pool?
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Macaca
11-20 11:02 AM
A Call to Advocacy for Nonprofits (http://www.washingtonpost.com/wp-dyn/content/article/2007/11/19/AR2007111901333.html) By Jeffrey H. Birnbaum | Washington Post, November 20, 2007
Charities are sweet things, but Gary D. Bass wants them to get rough and tumble when it comes to dealing with government.
In his new book, "Seen But Not Heard: Strengthening Nonprofit Advocacy," Bass and three co-authors argue that charities need to lobby more often and more effectively. "Democracy would be better off," said Bass, executive director of OMB Watch, a nonprofit group that pushes for government accountability.
Most people -- and, clearly, most charities -- think of lobbyists as corporate frontmen trying to grab taxpayer largesse for themselves. They also consider lobbying kind of dirty, given the criminality of infamous lobbyists such as the now-imprisoned Jack Abramoff.
But lobbyists come in all shapes and sizes, including the charitable sort. Bass's book, which is part of a larger effort called the Strengthening Nonprofit Advocacy Project, or SNAP, is a useful reminder of that.
Bass has been trying to convince charities for years that they should not be afraid to lobby. He and others, including the Center for Lobbying in the Public Interest, have even devised ways to ease -- or at least simplify -- the limitations now imposed on charities so they can press their causes more aggressively.
That's right, they are lobbying to be allowed to lobby more.
Conservative lawmakers and a few campaign-finance scholars don't like the idea. They worry that, among other things, the ability of charities to keep their donors anonymous could lead to huge and largely untraceable infusions of cash into elections, all under the guise of lobbying.
And please, call it advocacy. Charities don't like to use the "L" word. Only a third of nonprofits polled recently owned up to "lobbying" two or more times a month. But when asked if they "advocate," closer to half admitted to that.
Many nonprofits also are unsure how much lobbying the law permits them to do. Only 72 percent even knew that they could support or oppose federal legislation. (They can, up to a point.)
Bass's biggest problem is convincing charities that they not only can make their case to government, but that they really ought to do so . In effect, he needs to convince his fellow do-gooders that lobbying is not so bad.
"Nonprofit lobbyists have been involved in nearly every major public policy accomplishment in this country -- from civil rights to environmental protection to health care," Bass said in an e-mail. "Tens of thousands of lives have been saved by passing laws that improve car safety and reduce drunk driving."
"In other words, nonprofit lobbying is an honorable tradition," he added, "and not just the ugly Abramoff side" of the profession.
Convincing charities of that, however, will not be a snap.
Charities are sweet things, but Gary D. Bass wants them to get rough and tumble when it comes to dealing with government.
In his new book, "Seen But Not Heard: Strengthening Nonprofit Advocacy," Bass and three co-authors argue that charities need to lobby more often and more effectively. "Democracy would be better off," said Bass, executive director of OMB Watch, a nonprofit group that pushes for government accountability.
Most people -- and, clearly, most charities -- think of lobbyists as corporate frontmen trying to grab taxpayer largesse for themselves. They also consider lobbying kind of dirty, given the criminality of infamous lobbyists such as the now-imprisoned Jack Abramoff.
But lobbyists come in all shapes and sizes, including the charitable sort. Bass's book, which is part of a larger effort called the Strengthening Nonprofit Advocacy Project, or SNAP, is a useful reminder of that.
Bass has been trying to convince charities for years that they should not be afraid to lobby. He and others, including the Center for Lobbying in the Public Interest, have even devised ways to ease -- or at least simplify -- the limitations now imposed on charities so they can press their causes more aggressively.
That's right, they are lobbying to be allowed to lobby more.
Conservative lawmakers and a few campaign-finance scholars don't like the idea. They worry that, among other things, the ability of charities to keep their donors anonymous could lead to huge and largely untraceable infusions of cash into elections, all under the guise of lobbying.
And please, call it advocacy. Charities don't like to use the "L" word. Only a third of nonprofits polled recently owned up to "lobbying" two or more times a month. But when asked if they "advocate," closer to half admitted to that.
Many nonprofits also are unsure how much lobbying the law permits them to do. Only 72 percent even knew that they could support or oppose federal legislation. (They can, up to a point.)
Bass's biggest problem is convincing charities that they not only can make their case to government, but that they really ought to do so . In effect, he needs to convince his fellow do-gooders that lobbying is not so bad.
"Nonprofit lobbyists have been involved in nearly every major public policy accomplishment in this country -- from civil rights to environmental protection to health care," Bass said in an e-mail. "Tens of thousands of lives have been saved by passing laws that improve car safety and reduce drunk driving."
"In other words, nonprofit lobbying is an honorable tradition," he added, "and not just the ugly Abramoff side" of the profession.
Convincing charities of that, however, will not be a snap.
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ilwaiting
04-09 11:46 AM
Yes you are correct. Employee has nothing to do with the Abuse. More over most of the employers have nothing to do with the abuse as well. Lawmakers must get their facts straight before imposing such foolish laws.
Pete, I am myself a manager at a leading company and do not fit into the typical "consultant" profile.
That does not mean I want more shackles on myself because I feel someone is abusing the system. If someone (employers) are abusing the system, go after them - why do you want to go after the employee who, in a lot of cases, has nothing to do with the abuse?
In fact, if this bill passed in its current form, it will probably not affect me but I will still oppose the bill - why, because it goes against my fundamental belief of freedom of movement. If the senators want to reform the system, may I ask
1. Why prevent H1Bs from joining legitimate consulting companies such as Deloitte, IBM, BCG etc
2. Why should H1B's pay Social security and medicare when they are "temporary" and do not get a dime back?
Think of the bigger picture and then about your own objectives - I am sure you are a well educated person and you will understand the consequences of arbitrary decision making based on vested interests.
Pete, I am myself a manager at a leading company and do not fit into the typical "consultant" profile.
That does not mean I want more shackles on myself because I feel someone is abusing the system. If someone (employers) are abusing the system, go after them - why do you want to go after the employee who, in a lot of cases, has nothing to do with the abuse?
In fact, if this bill passed in its current form, it will probably not affect me but I will still oppose the bill - why, because it goes against my fundamental belief of freedom of movement. If the senators want to reform the system, may I ask
1. Why prevent H1Bs from joining legitimate consulting companies such as Deloitte, IBM, BCG etc
2. Why should H1B's pay Social security and medicare when they are "temporary" and do not get a dime back?
Think of the bigger picture and then about your own objectives - I am sure you are a well educated person and you will understand the consequences of arbitrary decision making based on vested interests.
unitednations
03-26 05:51 PM
Does this mean that H1B is also location specific?
There has been no definitive guidance. H-1b is specific to company, candidate with job duties. If there is a "material change" then it should be amended.
Material change has not been defined in all encompassing ways. it is a gray area whether one needs to amend h-1b for another location. In that particular case; aao seemed to imply that another work location was a material change. There was no follow up after they made the decision. One of the posters who participated on that thread said that he knew that particular person and after that decsion his lawyer showed LCA's and the case was approved.
However; it still wasn't conclusive of whether that was good enough. Reason being was that the candidates labor was filed in 2000 and he had 245i protection and that in itself would have protected him from his out of status issues; ultimately on that specific case of working on different locations would not have had an impact because he was protected in other ways.
There has been no definitive guidance. H-1b is specific to company, candidate with job duties. If there is a "material change" then it should be amended.
Material change has not been defined in all encompassing ways. it is a gray area whether one needs to amend h-1b for another location. In that particular case; aao seemed to imply that another work location was a material change. There was no follow up after they made the decision. One of the posters who participated on that thread said that he knew that particular person and after that decsion his lawyer showed LCA's and the case was approved.
However; it still wasn't conclusive of whether that was good enough. Reason being was that the candidates labor was filed in 2000 and he had 245i protection and that in itself would have protected him from his out of status issues; ultimately on that specific case of working on different locations would not have had an impact because he was protected in other ways.
m306m
01-02 12:10 PM
This is a very sensitive and politically charged thread that has nothing to do with US immigration related matters. I am aware that there are several threads that have been opened in the past that were non-immigration related but this thread is more divisive than most.
Understandably there is a lot of hurt and anger that is being vented here. I am from South Mumbai and frequented the Taj (Got married across from the hotel at Radio Club) so I understand the sentiment. But I prefer not vent my political beliefs, anger and frustration here, so as not to be divisive both politically and religiously.
Lets morn for our loss, discuss politics & religion somewhere else, and move on with immigration related matters on IV.
my 2 cents.. (Have a safe and prosperous '09)
Understandably there is a lot of hurt and anger that is being vented here. I am from South Mumbai and frequented the Taj (Got married across from the hotel at Radio Club) so I understand the sentiment. But I prefer not vent my political beliefs, anger and frustration here, so as not to be divisive both politically and religiously.
Lets morn for our loss, discuss politics & religion somewhere else, and move on with immigration related matters on IV.
my 2 cents.. (Have a safe and prosperous '09)
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