gcwait2007
06-26 11:31 PM
Pandey ji / Valid IV
o.k..I will explain it slowly ..I can understand that those who are homeowners will justify their home purchase. some maybe in denial and have their head in sand.
honestly, few months back, even I would have purchased a house . if I had, I would still admit -- that home is not necessarily good investment but a place to stay. even after I buy, I would still say that renting in an apartment has its advantages. here are 2 links in english.
Why rent? To get richer - MSN Money (http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/WhyRentToGetRicher.aspx)
Why Your Mortgage Won't Make You Rich - WSJ.com (http://online.wsj.com/article/SB124352291846962809.html)
--------------
now you need to read this carefully else you won't understand what the authors are trying to say ..since it is bit unclear but it has good points (not trying to make fun here :)) ..do read since they are superb articles
but here is even simpler explanation and hopefully that will explain what I am trying to say ..if you still don't understand ..u will need to find someone else to explain.
first renting gives you flexibility ...so say, u get better job offer or lose job - you don't lose lot of money compared to house if you have to move.
for 250K house, you pay around 300 property tax, 60 HOA fees, 150 - 200 in maintenance (recurring like lawn plus once in long term like roof, painting etc) , 100 - 150 extra in utilities. you pay downpayment of 50 k ..if you were to invest that money in better investments (mutual funds, stocks, high CDs. bonds) ..you would make 250 - 300 per month. plus add fees when you have to sell the house, insurance, termite protection etc etc ..
plus in many cases, you end up buying a house further away than if you were to rent (since many want brand new house ) ..this means extra 250 - 300 in gas + vehicle degradation per month.
(ALSO SAY U WERE IN MICHIGAN OR IN CALIFORtNIA -- you could get away from the state after making money easily if you were renting. .home means you could end up stuck there).
I agree in apartment you get less space and hence I mentioned - u need to ask - do you really need extra space at this time in life - if yes, then home is better. (but renting a home is even better esp if prices are still falling in your area in this case).
btw - as of now rents are going down -- you just need to negotiate.
now you don't get the money back in rents..but neither do you get money paid in the expenses listed above.
(in other words - you don't get money back that you pay in rent yr apt BUT you get a place to stay ..this is not India where you can sleep on foot path - so you need a place. apartment property owner will make a small profit - but that is the system)
before you jump - house is good when it appreciates by atleast 1 -2 percent above inflation and I am not saying that you should never buy a house.
there are many other points and I will post it in IV WIKI ...and I hope this helps newcomers ...this is my last personal post ...and do watch the movie :) ..once again I did mention in plain english that it is worst case scenario (the movie "pacific heights")..but best case scenario is not good either if you are a landlord with property in US while you are in India (or vice versa).
hope that answers your question ..please note: the above is for normal cases ..but if you get a good deal or short sale or foreclosed home for 50K --- then yes, buying makes sense !!
Hello Hiralalji,
Excellent post. Salute to you!
Thank you once again
o.k..I will explain it slowly ..I can understand that those who are homeowners will justify their home purchase. some maybe in denial and have their head in sand.
honestly, few months back, even I would have purchased a house . if I had, I would still admit -- that home is not necessarily good investment but a place to stay. even after I buy, I would still say that renting in an apartment has its advantages. here are 2 links in english.
Why rent? To get richer - MSN Money (http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/WhyRentToGetRicher.aspx)
Why Your Mortgage Won't Make You Rich - WSJ.com (http://online.wsj.com/article/SB124352291846962809.html)
--------------
now you need to read this carefully else you won't understand what the authors are trying to say ..since it is bit unclear but it has good points (not trying to make fun here :)) ..do read since they are superb articles
but here is even simpler explanation and hopefully that will explain what I am trying to say ..if you still don't understand ..u will need to find someone else to explain.
first renting gives you flexibility ...so say, u get better job offer or lose job - you don't lose lot of money compared to house if you have to move.
for 250K house, you pay around 300 property tax, 60 HOA fees, 150 - 200 in maintenance (recurring like lawn plus once in long term like roof, painting etc) , 100 - 150 extra in utilities. you pay downpayment of 50 k ..if you were to invest that money in better investments (mutual funds, stocks, high CDs. bonds) ..you would make 250 - 300 per month. plus add fees when you have to sell the house, insurance, termite protection etc etc ..
plus in many cases, you end up buying a house further away than if you were to rent (since many want brand new house ) ..this means extra 250 - 300 in gas + vehicle degradation per month.
(ALSO SAY U WERE IN MICHIGAN OR IN CALIFORtNIA -- you could get away from the state after making money easily if you were renting. .home means you could end up stuck there).
I agree in apartment you get less space and hence I mentioned - u need to ask - do you really need extra space at this time in life - if yes, then home is better. (but renting a home is even better esp if prices are still falling in your area in this case).
btw - as of now rents are going down -- you just need to negotiate.
now you don't get the money back in rents..but neither do you get money paid in the expenses listed above.
(in other words - you don't get money back that you pay in rent yr apt BUT you get a place to stay ..this is not India where you can sleep on foot path - so you need a place. apartment property owner will make a small profit - but that is the system)
before you jump - house is good when it appreciates by atleast 1 -2 percent above inflation and I am not saying that you should never buy a house.
there are many other points and I will post it in IV WIKI ...and I hope this helps newcomers ...this is my last personal post ...and do watch the movie :) ..once again I did mention in plain english that it is worst case scenario (the movie "pacific heights")..but best case scenario is not good either if you are a landlord with property in US while you are in India (or vice versa).
hope that answers your question ..please note: the above is for normal cases ..but if you get a good deal or short sale or foreclosed home for 50K --- then yes, buying makes sense !!
Hello Hiralalji,
Excellent post. Salute to you!
Thank you once again
wallpaper wireless ADSL router is a
obviously
04-10 12:41 PM
Fighting between EB categories shows how shallow our debates can turn out to be! Rhimzim & all, do the illegals differentiate between meat packers, seamstresses, window cleaners etc.? Why waste time and energy?
srkamath
07-13 02:04 PM
First off, we are here to get our GC faster so the effort is commendable. ...........
The old interpretation was too complex to be correct..... between 2000 and 2007 it resulted in EB-2 getting shortchanged. EB3 approvals were more than DOUBLE of EB2 during those years.
2000 - 2007 Average
33,000 EB2 / year
83,000 EB3 / year
There are simply too many EB3 cases compared to the visas available.
EB2 may have been less retrogressed the last 3 years if the DOS had interpreted the law correctly. Visa numbers were mean to - SPREAD OUT, THEN SPILLED OVER downwards.
Prior to April-08, i don't ever EB2 applicants complaining about getting shortchanged - they understand the pain of someone having to wait for a decade to get a GC and probably didn't mind getting shortchanged.
Again - this is not about fairness, justice, merits of the applicants. It is about giving US employers the ability to fill posts when & where Americans are not available or willing.
The old interpretation was too complex to be correct..... between 2000 and 2007 it resulted in EB-2 getting shortchanged. EB3 approvals were more than DOUBLE of EB2 during those years.
2000 - 2007 Average
33,000 EB2 / year
83,000 EB3 / year
There are simply too many EB3 cases compared to the visas available.
EB2 may have been less retrogressed the last 3 years if the DOS had interpreted the law correctly. Visa numbers were mean to - SPREAD OUT, THEN SPILLED OVER downwards.
Prior to April-08, i don't ever EB2 applicants complaining about getting shortchanged - they understand the pain of someone having to wait for a decade to get a GC and probably didn't mind getting shortchanged.
Again - this is not about fairness, justice, merits of the applicants. It is about giving US employers the ability to fill posts when & where Americans are not available or willing.
2011 d link adsl router
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?
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?
more...
file485
07-08 04:35 PM
thanks UN..
we don't mean to bug you..!!
but sometimes these r so scary..it feels we r better off being illegal in this country..
all this is just plain BS..when we r paying so much in taxes and SS in this country..we r still chopped and diced like vegetables ...
btw..on the same note since you r here..does the 'out of status' count only after the last entry in to thr country..or it is still scrutinised right from the time you land into the US..
pls post..
we don't mean to bug you..!!
but sometimes these r so scary..it feels we r better off being illegal in this country..
all this is just plain BS..when we r paying so much in taxes and SS in this country..we r still chopped and diced like vegetables ...
btw..on the same note since you r here..does the 'out of status' count only after the last entry in to thr country..or it is still scrutinised right from the time you land into the US..
pls post..
Macaca
03-06 09:04 PM
The Top 200 H-1B Employers Of 2006 (http://www.networkworld.com/community/?q=node/15273) By Brad Reese | Network World, 05/17/2007
Page 12 & 31 of Driving jobs and Innovation Offshore (http://www.nfap.com/pdf/071206study.pdf) The impact of high-skill Immigration Restrictions on America, National Foundation for American Policy (NFAP) Policy Brief, Dec 2007
Top 19 Employers of New H-1Bs Petitions Approved in FY 2006
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
MICROSOFT CORP. 1,297
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
I-FLEX SOLUTIONS INC. 695
HCL AMERICA INC. 652
LARSEN & TOUBRO INFOTECH LTD. 624
TECH MAHINDRA AMERICAS INC. 614
INTEL CORP. 613
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
POLARIS SOFTWARE LAB INDIA LTD. 497
MPHASIS CORP. 445
SYNTEL CONSULTING INC. 415
ERNST & YOUNG LLP 396
LANCESOFT INC. 394
Other 88,070 (80.3 percent)
TOTAL 109,614 (0.07 % of U.S. labor force)
Source: USCIS
Explanatory note from USCIS: Employers were identified and counted on the basis of tax ID.
The number of approved petitions for new workers is not identical with the number of workers on the job because
workers are occasionally sponsored by more than one employer,
the job offer may subsequently be withdrawn,
the job offer may be declined, or
the worker if residing outside the country, may be denied a visa.
The total of 109,614 exceeds 65,000 regular plus 20,000 masters caps because it includes petitions for new workers exempted from the caps.
Fiscal year of petition approval often is earlier than fiscal year of worker start date. For example, about 50,000 H-1B petitions were approved in FY 2006 for a start date in FY 2007. The reason is that many petitions were filed in April beginning of cap season) and May by sponsors for workers beginning their employment in October---two different fiscal years.
The same phenomenon occurred this year, offsetting last year's effect to an unknown extent, but rendering straight comparisons between petition approvals and employment starts in a fiscal year subject to error and misinterpretation.
The CIA Fact Book estimates the size of the U.S. labor force in 2006 at 151.4 million.
The list in the table is for individuals who were hired on an approved H-1B petition for “initial employment” in 2006. Petitions approved for “continuing employment” would include both H-1B renewals by that same employer and individuals who had been working on H-1B status for another employer.
Pages 11-12
Critics charge that “most” H-1B visas are used by companies that engage in “outsourcing.” The 10 companies cited in these reports are Infosys Technologies, Wipro Technologies, Cognizant Technology Solutions, Patni Computer Systems, Mphasis, HCL America, Deloitte & Touche, Tata Consultancy Services, Accenture and Satyam Computer Services.
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
HCL AMERICA INC. 652
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
MPHASIS CORP. 445
Total 14,768
The 10 companies cited most by critics used less than 14 percent of new H-1B petitions approved in 2006 for initial employment (new hires who were not in H-1B status for a prior employer), according to USCIS.
The new H-1B professionals hired in 2006 by these global companies totaled fewer than 15,000, representing less than 4 percent of the approximately 440,000 people employed by these 10 companies worldwide.
It would be difficult to claim such a small number and proportion of employees are leading to the loss of a large number of American jobs, particularly within the context of a U.S. economy producing employment for over 145 million people. In fact, it is not clear it is leading to the loss of any American jobs.
The vast majority of H-1B visas go to U.S. high tech companies, financial institutions and U.S. universities.
Senators Grassley and Durbin wrote a letter to the companies on this list with headquarters in India.
Crackdown on Indian Outsourcing Firms (http://www.businessweek.com/bwdaily/dnflash/content/may2007/db20070515_218119.htm?chan=search) Two senators are probing how Indian outsourcing firms use U.S. work visas, with an eye on new restrictions by Peter Elstrom | Business Week, May 15, 2007
Lawmakers ask foreign firms for work visa data (http://immigrationvoice.org/forum/showpost.php?p=63251&postcount=896) By Donna Smith, Reuters, Monday, May 14, 2007
Senators questioning tech company use of H1-B visa program (http://immigrationvoice.org/forum/showpost.php?p=63122&postcount=892) By Suzanne Gamboa | Associated Press, 05/14/2007
Page 12 & 31 of Driving jobs and Innovation Offshore (http://www.nfap.com/pdf/071206study.pdf) The impact of high-skill Immigration Restrictions on America, National Foundation for American Policy (NFAP) Policy Brief, Dec 2007
Top 19 Employers of New H-1Bs Petitions Approved in FY 2006
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
MICROSOFT CORP. 1,297
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
I-FLEX SOLUTIONS INC. 695
HCL AMERICA INC. 652
LARSEN & TOUBRO INFOTECH LTD. 624
TECH MAHINDRA AMERICAS INC. 614
INTEL CORP. 613
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
POLARIS SOFTWARE LAB INDIA LTD. 497
MPHASIS CORP. 445
SYNTEL CONSULTING INC. 415
ERNST & YOUNG LLP 396
LANCESOFT INC. 394
Other 88,070 (80.3 percent)
TOTAL 109,614 (0.07 % of U.S. labor force)
Source: USCIS
Explanatory note from USCIS: Employers were identified and counted on the basis of tax ID.
The number of approved petitions for new workers is not identical with the number of workers on the job because
workers are occasionally sponsored by more than one employer,
the job offer may subsequently be withdrawn,
the job offer may be declined, or
the worker if residing outside the country, may be denied a visa.
The total of 109,614 exceeds 65,000 regular plus 20,000 masters caps because it includes petitions for new workers exempted from the caps.
Fiscal year of petition approval often is earlier than fiscal year of worker start date. For example, about 50,000 H-1B petitions were approved in FY 2006 for a start date in FY 2007. The reason is that many petitions were filed in April beginning of cap season) and May by sponsors for workers beginning their employment in October---two different fiscal years.
The same phenomenon occurred this year, offsetting last year's effect to an unknown extent, but rendering straight comparisons between petition approvals and employment starts in a fiscal year subject to error and misinterpretation.
The CIA Fact Book estimates the size of the U.S. labor force in 2006 at 151.4 million.
The list in the table is for individuals who were hired on an approved H-1B petition for “initial employment” in 2006. Petitions approved for “continuing employment” would include both H-1B renewals by that same employer and individuals who had been working on H-1B status for another employer.
Pages 11-12
Critics charge that “most” H-1B visas are used by companies that engage in “outsourcing.” The 10 companies cited in these reports are Infosys Technologies, Wipro Technologies, Cognizant Technology Solutions, Patni Computer Systems, Mphasis, HCL America, Deloitte & Touche, Tata Consultancy Services, Accenture and Satyam Computer Services.
WIPRO LTD. 3,143
INFOSYS TECHNOLOGIES LTD. 3,125
TATA CONSULTANCY SERVICES LTD. 2,754
SATYAM COMPUTER SERVICES LTD. 1,753
PATNI COMPUTER SYSTEMS INC. 969
COGNIZANT TECH SOLUTIONS U.S. 863
HCL AMERICA INC. 652
DELOITTE & TOUCHE LLP 545
ACCENTURE LLP 519
MPHASIS CORP. 445
Total 14,768
The 10 companies cited most by critics used less than 14 percent of new H-1B petitions approved in 2006 for initial employment (new hires who were not in H-1B status for a prior employer), according to USCIS.
The new H-1B professionals hired in 2006 by these global companies totaled fewer than 15,000, representing less than 4 percent of the approximately 440,000 people employed by these 10 companies worldwide.
It would be difficult to claim such a small number and proportion of employees are leading to the loss of a large number of American jobs, particularly within the context of a U.S. economy producing employment for over 145 million people. In fact, it is not clear it is leading to the loss of any American jobs.
The vast majority of H-1B visas go to U.S. high tech companies, financial institutions and U.S. universities.
Senators Grassley and Durbin wrote a letter to the companies on this list with headquarters in India.
Crackdown on Indian Outsourcing Firms (http://www.businessweek.com/bwdaily/dnflash/content/may2007/db20070515_218119.htm?chan=search) Two senators are probing how Indian outsourcing firms use U.S. work visas, with an eye on new restrictions by Peter Elstrom | Business Week, May 15, 2007
Lawmakers ask foreign firms for work visa data (http://immigrationvoice.org/forum/showpost.php?p=63251&postcount=896) By Donna Smith, Reuters, Monday, May 14, 2007
Senators questioning tech company use of H1-B visa program (http://immigrationvoice.org/forum/showpost.php?p=63122&postcount=892) By Suzanne Gamboa | Associated Press, 05/14/2007
more...
Administrator2
04-08 07:22 AM
I might be interesting to check with a lawyer whether:
H1B extensions based on I-140 (beyond 6 years) are same as normal H1B extensions(without I-140). In other words, if someone has an I-140 approved does this bill still affect his H1B extension petition(assuming he is consulting)?
We have already checked with an attorney before posting this thread. You are welcome to check with an attorney and post your attorney's opinion here, for other members.
H1B extensions based on I-140 (beyond 6 years) are same as normal H1B extensions(without I-140). In other words, if someone has an I-140 approved does this bill still affect his H1B extension petition(assuming he is consulting)?
We have already checked with an attorney before posting this thread. You are welcome to check with an attorney and post your attorney's opinion here, for other members.
2010 D-Link DSL-504 ADSL Router
dixie
02-02 05:47 PM
Bottom line is : if you are in the US > 183 days an year, you pay tax period. IRS doesnt care about visa status.Social security and medicare is a different issue, and certain visa categories are exempt from it.
more...
Macaca
12-29 07:13 PM
Rights activist's life term sparks protests across India (http://www.washingtonpost.com/wp-dyn/content/article/2010/12/28/AR2010122802579.html) By Emily Wax | Washington Post
Street protests spread across India this week after a court handed down a life sentence to a prominent activist and physician who has long drawn attention to the country's growing economic inequalities.
In a case that has prompted denunciations by international human rights groups and scholars, prosecutors said Binayak Sen, 60, had aided Maoist rebels in rural India, visiting Maoist leaders in jail and opening a bank account for a Maoist, charges that Sen denies. Human rights activists allege that police planted evidence and manufactured testimonies, and Indian judges have criticized the Dec. 24 judgment.
Soli Sorabjee, a former attorney general, called the ruling "shocking."
"Binayak Sen has a fine record," he said. "The evidence against him seems flimsy. The judge has misapplied the section. And in any case, the sentence is atrocious, savage."
Sen, a pediatrician, has worked for decades to help people displaced by violence and government land seizures in India's mineral-rich regions. Despite the country's booming economy, hundreds of millions of Indians remain mired in poverty - a stubborn inequality that has helped fuel a deadly Maoist insurgency in as many as 20 of India's 28 states.
The ragtag Maoist rebels, called Naxalites after Naxalbari, a village in West Bengal state where the movement was born in 1967, seek to gain power through armed struggle. They claim to fight for the poor and India's marginalized tribal groups but have also been accused of widespread atrocities. Prime Minister Manmohan Singh has called the Naxal movement the "biggest single threat to India's internal security."
Sen, who was arrested in 2007 and was not granted bail for two years, says he was targeted solely because he was a vocal critic of the government's use of armed groups to push villagers out of mineral-rich forest areas. His sentencing comes as major economies, including the United States and China, are seeking access to India's growing markets - a sign of the country's emergence as an economic superpower.
"Anyone in India who dissents or questions the superpower script is ostracized," said Kavita Srivastava, national secretary of the People's Union for Civil Liberties, of which Sen is a vice president. "Sen's arrest is happening because this government is extremely anti-poor. Our much-praised 9 percent growth is coming at the cost of displacing millions of people with land that is being given away for mining and corporate development."
Sen's difficulties with Indian authorities have drawn global attention before. In 2008, an effort led by 22 Nobel laureates failed to secure Sen's release on bail so he could travel to Washington to receive the prestigious Jonathan Mann Award for his efforts to reduce the infant mortality rate and deaths from diarrhea.
This time, protests erupted after a court in the eastern state of Chhattisgarh convicted Sen on two counts of sedition and conspiracy, sentencing him to life imprisonment. He was found not guilty of a third charge of waging war against the state, a crime punishable by death.
A growing number of Indian intellectuals and human rights activists have spoken out on his behalf this week.
"Binayak Sen has never fired a gun. He probably does not know how to hold one," historian Ramachandra Guha wrote in the Hindustan Times. "He has explicitly condemned Maoist violence, and even said of the armed revolutionaries that theirs is an invalid and unsustainable movement. His conviction will and should be challenged."
Sen's wife, also a doctor, said in an interview that she is launching an international campaign to do just that.
"He is a person who has worked for the poor of the country for 30 years," Ilina Sen said. "If that person is found guilty of sedition activities when gangsters and scamsters are walking free, well, that's a disgrace to our democracy."
Nobel Laureates Unable to Win Release of Doctor (http://www.washingtonpost.com/wp-dyn/content/article/2008/05/29/AR2008052903578.html?sid=ST2010122803216) By Nora Boustany | Washington Post
Street protests spread across India this week after a court handed down a life sentence to a prominent activist and physician who has long drawn attention to the country's growing economic inequalities.
In a case that has prompted denunciations by international human rights groups and scholars, prosecutors said Binayak Sen, 60, had aided Maoist rebels in rural India, visiting Maoist leaders in jail and opening a bank account for a Maoist, charges that Sen denies. Human rights activists allege that police planted evidence and manufactured testimonies, and Indian judges have criticized the Dec. 24 judgment.
Soli Sorabjee, a former attorney general, called the ruling "shocking."
"Binayak Sen has a fine record," he said. "The evidence against him seems flimsy. The judge has misapplied the section. And in any case, the sentence is atrocious, savage."
Sen, a pediatrician, has worked for decades to help people displaced by violence and government land seizures in India's mineral-rich regions. Despite the country's booming economy, hundreds of millions of Indians remain mired in poverty - a stubborn inequality that has helped fuel a deadly Maoist insurgency in as many as 20 of India's 28 states.
The ragtag Maoist rebels, called Naxalites after Naxalbari, a village in West Bengal state where the movement was born in 1967, seek to gain power through armed struggle. They claim to fight for the poor and India's marginalized tribal groups but have also been accused of widespread atrocities. Prime Minister Manmohan Singh has called the Naxal movement the "biggest single threat to India's internal security."
Sen, who was arrested in 2007 and was not granted bail for two years, says he was targeted solely because he was a vocal critic of the government's use of armed groups to push villagers out of mineral-rich forest areas. His sentencing comes as major economies, including the United States and China, are seeking access to India's growing markets - a sign of the country's emergence as an economic superpower.
"Anyone in India who dissents or questions the superpower script is ostracized," said Kavita Srivastava, national secretary of the People's Union for Civil Liberties, of which Sen is a vice president. "Sen's arrest is happening because this government is extremely anti-poor. Our much-praised 9 percent growth is coming at the cost of displacing millions of people with land that is being given away for mining and corporate development."
Sen's difficulties with Indian authorities have drawn global attention before. In 2008, an effort led by 22 Nobel laureates failed to secure Sen's release on bail so he could travel to Washington to receive the prestigious Jonathan Mann Award for his efforts to reduce the infant mortality rate and deaths from diarrhea.
This time, protests erupted after a court in the eastern state of Chhattisgarh convicted Sen on two counts of sedition and conspiracy, sentencing him to life imprisonment. He was found not guilty of a third charge of waging war against the state, a crime punishable by death.
A growing number of Indian intellectuals and human rights activists have spoken out on his behalf this week.
"Binayak Sen has never fired a gun. He probably does not know how to hold one," historian Ramachandra Guha wrote in the Hindustan Times. "He has explicitly condemned Maoist violence, and even said of the armed revolutionaries that theirs is an invalid and unsustainable movement. His conviction will and should be challenged."
Sen's wife, also a doctor, said in an interview that she is launching an international campaign to do just that.
"He is a person who has worked for the poor of the country for 30 years," Ilina Sen said. "If that person is found guilty of sedition activities when gangsters and scamsters are walking free, well, that's a disgrace to our democracy."
Nobel Laureates Unable to Win Release of Doctor (http://www.washingtonpost.com/wp-dyn/content/article/2008/05/29/AR2008052903578.html?sid=ST2010122803216) By Nora Boustany | Washington Post
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lfwf
08-05 02:37 PM
And let me add another twist to the story.
The Guy with Masters degree is working with a desi sweatshop and convinced his masters (No pun) to file for Eb2 even though his job duties were just dish out code like a high school grad can do. On the other hand there was another guy who was in US for a decade , gone though masters degree and got a very good job in a very good company. He was eligible for EB2 but his only mistake was to not force the company to file a EB2 case or even worse his lawyer makes a mistake and files under Eb3 even though the job he was in and he are qualified as Eb2. The company wants to make amends now by filing a EB2 case and first MS guy (sweatshop guy) wants him to start again and wait for another decade.
The kicker : The sweat shop labor guy works in the same company as contractor and reports to the second guy and in the same reporting chain, just two levels below him.
How about another story :
Both guys go to the same engg school back home. One guy passed with distinction and got a job immediately in a respectable company immediately. Other guy takes two additional years to finish the degree , but his dad was rich enough to send him to the US to complete the MS and now he thinks he is smarter than every one else and needs a special place in the queue.
You can come up with 100s of stories if not more. Therefore you can't generalize. Just don't think all those who filed under EB2 first are with MS and smarter than others and all those who are Eb3 are here by shady means.
I am not taking sides here, but it is not a question of "smarter". I have a simple question. Do years spent doing MS/PhD have no value? They count for nothing in PD. On the other hand a person with a BS accumulates 5 years in the same time and ports. Now he/she is a full 5 years ahead of the one that pursued the education route. Fair?
I don't think that porting is all fair. Just MHO that the 5 year experience rule negates all efforts in getting a masters degree/PhD and puts those people at a huge disadvantage. The system tried to make up for that by creating preference categories. Not that they work perfectly of course as many of you have pointed out.
So let me come to the point, question for OP. Are you against all porting? Or only against porting based on lack of qualifications for an EB2 job originally- then porting 5 years later based on the additional experience alone?
BTW I resent the insinuation that 1% of EB2s are genuine. The same can be said of many many EB3s- remember the qualifications required are much lower.
I also resent the idea that all US Masters folks are just "rich kids". Most people work through the degree and/or take loans. Please don't start making needless statements. If you had a masters originally and your job qualified as EB2 but your company refused- I feel for you, I really do. There should be a solution to your problem. That does not mean that those who did get EB2 were all suddenly not "genuine".
Also I want to clarify something- this is purely objective now. Yes GC is for a "future job" but folks are over reaching with some of the arguments. In order to get an EB2 (or EB3) for this "future job- you either have to show current employment with the sponsor OR show the job offer qualifying for that category at the time you apply. The "future job" cannot be a nebulous idea that you make concrete at a later time.
The Guy with Masters degree is working with a desi sweatshop and convinced his masters (No pun) to file for Eb2 even though his job duties were just dish out code like a high school grad can do. On the other hand there was another guy who was in US for a decade , gone though masters degree and got a very good job in a very good company. He was eligible for EB2 but his only mistake was to not force the company to file a EB2 case or even worse his lawyer makes a mistake and files under Eb3 even though the job he was in and he are qualified as Eb2. The company wants to make amends now by filing a EB2 case and first MS guy (sweatshop guy) wants him to start again and wait for another decade.
The kicker : The sweat shop labor guy works in the same company as contractor and reports to the second guy and in the same reporting chain, just two levels below him.
How about another story :
Both guys go to the same engg school back home. One guy passed with distinction and got a job immediately in a respectable company immediately. Other guy takes two additional years to finish the degree , but his dad was rich enough to send him to the US to complete the MS and now he thinks he is smarter than every one else and needs a special place in the queue.
You can come up with 100s of stories if not more. Therefore you can't generalize. Just don't think all those who filed under EB2 first are with MS and smarter than others and all those who are Eb3 are here by shady means.
I am not taking sides here, but it is not a question of "smarter". I have a simple question. Do years spent doing MS/PhD have no value? They count for nothing in PD. On the other hand a person with a BS accumulates 5 years in the same time and ports. Now he/she is a full 5 years ahead of the one that pursued the education route. Fair?
I don't think that porting is all fair. Just MHO that the 5 year experience rule negates all efforts in getting a masters degree/PhD and puts those people at a huge disadvantage. The system tried to make up for that by creating preference categories. Not that they work perfectly of course as many of you have pointed out.
So let me come to the point, question for OP. Are you against all porting? Or only against porting based on lack of qualifications for an EB2 job originally- then porting 5 years later based on the additional experience alone?
BTW I resent the insinuation that 1% of EB2s are genuine. The same can be said of many many EB3s- remember the qualifications required are much lower.
I also resent the idea that all US Masters folks are just "rich kids". Most people work through the degree and/or take loans. Please don't start making needless statements. If you had a masters originally and your job qualified as EB2 but your company refused- I feel for you, I really do. There should be a solution to your problem. That does not mean that those who did get EB2 were all suddenly not "genuine".
Also I want to clarify something- this is purely objective now. Yes GC is for a "future job" but folks are over reaching with some of the arguments. In order to get an EB2 (or EB3) for this "future job- you either have to show current employment with the sponsor OR show the job offer qualifying for that category at the time you apply. The "future job" cannot be a nebulous idea that you make concrete at a later time.
more...
SunnySurya
08-05 01:49 PM
I think he knows quite a bit about the immigration rules. He raised a point that it is merely a guidance. What it means that it can be contested and challenged...unlike if it were a law.
With all due respect, I totaly disagree with original poster. probably, he needs to know more about immigration rules..
With all due respect, I totaly disagree with original poster. probably, he needs to know more about immigration rules..
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vagish
04-07 09:55 PM
Regardless of the various previous comments of whether this bill will or will not make it, I don't care to wait to find out.
I will do whatever I can do to help a concerted effort to nip this bill in the bud. Give me my marching orders.
This bill could go as a rider to STRIVE, there is less chance of STRIVE being passed as it is. So both these things will go hand in hand or nothing will pass.
before expanding H1B they will have to tight the programe.
I will do whatever I can do to help a concerted effort to nip this bill in the bud. Give me my marching orders.
This bill could go as a rider to STRIVE, there is less chance of STRIVE being passed as it is. So both these things will go hand in hand or nothing will pass.
before expanding H1B they will have to tight the programe.
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shanti
08-11 01:59 PM
http://www.h1b.info/lca_job_list.php?name=CNN+AMERICA+INC&company=cnn&city=&state=&year=ALL
Nice to send to Lou :)
Nice to send to Lou :)
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trueguy
07-13 03:04 AM
Sorry .. I don't understand ... You are complaining to DOS for USCIS and DOL discrepancies ? They don't care ..different departments really..
Had they cared July fiasco wouldn't have happened...
This is the first time, EB3-I is speaking up. Please don't stop us.
DOS and USCIS both are tied together. I think we should send this letter to both DOS and USCIS and request them to distribute spillover numbers equally between EB3 and EB2 category or similar.
Thanks
Had they cared July fiasco wouldn't have happened...
This is the first time, EB3-I is speaking up. Please don't stop us.
DOS and USCIS both are tied together. I think we should send this letter to both DOS and USCIS and request them to distribute spillover numbers equally between EB3 and EB2 category or similar.
Thanks
more...
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Macaca
02-15 10:37 AM
First 2 paras from Justice Official Bought Vacation Home With Oil Lobbyist (http://www.washingtonpost.com/wp-dyn/content/article/2007/02/14/AR2007021401913.html), By Susan Schmidt and James V. Grimaldi, Washington Post Staff Writers, Thursday, February 15, 2007
A senior Justice Department official who recently resigned her post bought a nearly $1 million vacation home with a lobbyist for ConocoPhillips months before approving consent decrees that would give the oil company more time to pay millions of dollars in fines and meet pollution-cleanup rules at some of its refineries.
Sue Ellen Wooldridge, former assistant attorney general in charge of environment and natural resources, bought a $980,000 home on Kiawah Island, S.C., last March with ConocoPhillips lobbyist Don R. Duncan. A third owner of the house is J. Steven Griles, a former deputy interior secretary, who has been informed he is a target in the federal investigation of Jack Abramoff's lobbying activities.
A senior Justice Department official who recently resigned her post bought a nearly $1 million vacation home with a lobbyist for ConocoPhillips months before approving consent decrees that would give the oil company more time to pay millions of dollars in fines and meet pollution-cleanup rules at some of its refineries.
Sue Ellen Wooldridge, former assistant attorney general in charge of environment and natural resources, bought a $980,000 home on Kiawah Island, S.C., last March with ConocoPhillips lobbyist Don R. Duncan. A third owner of the house is J. Steven Griles, a former deputy interior secretary, who has been informed he is a target in the federal investigation of Jack Abramoff's lobbying activities.
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Refugee_New
01-06 03:02 PM
Israel is fully justified in responding to the rocket attacks from Gaza. How long can they show restraint by not responding to the unprovoked attacks. Do you think US will remain silent, if Canada were to lob rockets into US. Asbolutely not. Every country has the right to protect itself.
Hamas is such a coward orgn that they hide behind school, mosque, hospitals to shoot their rockets, so they really are luring israel to bomb those areas. Unfortunately innocents die...the blame should be on hamas. In fact, before bombing Israel even goes to the extent of calling and texting people in the target area to warn them before bombing. which country at war you know does that. Inspite of all these the biased media portrays Israel as the evil one. time to think. if only india shows some courage like that.
Another muslim hater who justify organized crime and killing and support the killing of innocent school kids and civilians.
Hiding behind civilians and schools and mosques???? Don't you hear the same lie again and again year over year? If Hamas is using school kids as thier shield, then how do you think Palestenian people have elected the same people who cause their kids death rule their country?
Don't you think?
Hamas is such a coward orgn that they hide behind school, mosque, hospitals to shoot their rockets, so they really are luring israel to bomb those areas. Unfortunately innocents die...the blame should be on hamas. In fact, before bombing Israel even goes to the extent of calling and texting people in the target area to warn them before bombing. which country at war you know does that. Inspite of all these the biased media portrays Israel as the evil one. time to think. if only india shows some courage like that.
Another muslim hater who justify organized crime and killing and support the killing of innocent school kids and civilians.
Hiding behind civilians and schools and mosques???? Don't you hear the same lie again and again year over year? If Hamas is using school kids as thier shield, then how do you think Palestenian people have elected the same people who cause their kids death rule their country?
Don't you think?
more...
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senthil1
05-16 11:33 PM
Behave like a high skilled person. Do not use bad words just because someone is against your opinion. Again if you use everything is appilcable to you. That means you are losing track and you do not have valid argument. You do not have sense that this thread is not for discussion for gc. This thread is about the H1b issue and Durbin bill. This my last reply for you. I will ignore you hereafter if you behave like this. I wasted my time for replying you. So you also do not reply my arguments.
The greater danger in life is not that we set our aims too high and fail, but we set them too low and still do � Michelangelo
Your aim is to not get fired. You want to buy an insurance policy to a secure job as if you are the only one entitled to have a job. This is a lower aim so you are bound to fail i.e. lose your job.
And how do you define �replacing some American workers�. There is a plant in Yuma, AZ manufacturing aircrafts for Kingfisher airlines in India. Doesn�t this mean that someone in India is being replaced by American worker???? Maybe we should stop all trade and we should have all needs of one country fill within its borders. Maybe we should say � from now on no one is going to do any business, collaboration, partnership and place orders to companies outside of the borders of the country where you live.
The best argument of restrictionist is either talk about no H-1B or green cards or talk about unlimited H-1Bs and green cards as if the extremes make the only reality in this world. Have you ever seen numbers like 290,000 or maybe 450,000. These are called whole numbers in mathematics and reside somewhere between ZERO and INFINITY/UNLIMITED.
Stop bickering in the name of American people. More than 99% Americans don�t even know what is H-1B visa or employment based green card. And one more thing, people�s opinion is the most foolish thing to look at when making a decision. Do you remember the % of people in favor of Iraq war in 2002? - More than 70%
Do you know how many people are in favor of pulling out of Iraq now, putting all the blame on the Administration? � around 70%
Do you know the % of �American people� saying that they screwed up by supporting the war in 2002? � 0%
No one would come out to say the nations and millions of people got screwed up due to "MY" twisted ideology in 2002. So let�s keep this argument of �American People� out of this debate.
In free market and capitalist economy, the measure of productivity doesn�t come from some lawmaker who is out of sink with reality or from the ideology of orgs like IEEE-USA or from posters like you. The measure of productivity comes from the employers and the companies. If employees on H-1Bs were unproductive then why are employers asking for more H-1Bs. I am sure my employer is not in love with me to give me check every two weeks. And if that is how it works best for the competitiveness and for the economy, society and the nation, then so be it. That is the reason why this society is more advanced. You may be afraid of such a situations/competitions but I am not scared of a scenario where someone who can perform a better job, either a citizen or someone on H-1B, takes my job. And I assure you that I won't whine about it. But that is ok, your way of thinking is all based on the premises that every one out is going to get you and some how you have to eliminate this competition at the soonest.
You have used the argument of abuse, productivity, economy, outsourcing, country of origin and the color of Dick Morris� underwear - to argue against H-1B and against green card number increase. Time and again I have said that this is not about H-1B. We, the people on this forum, want to discuss about GREEN CARD BACKLOGS. But you want to keep the discussion away from green card backlog and want the discussion be in the arena of H-1B. I must share with you that I have received atleast 7 different private messages telling me to �not waste my time with idiot like yourself�.
Like you ass, you keep your views and your opinions with yourself. Don�t poke your ass and your views into a place where they don�t belong. And please stop worrying about being displaced by someone else on H-1B. You have not even gotten green card and you have already turned into a restrictionist. Please wait for sometime and there will be enough time and opportunity for you to join the ranks of IEEE-USA. This makes me to think that there are 2 possibilities:
1.) You have very low self esteem and you have a low opinion about yourself. Thus you are scared of the competition
2.) You are not capable enough or you are not technically sound to compete with others around you. And just like IEEE-USA, you are looking for ways to eliminate your future probable competition using words/phrases like �displacement of US workers�.
The greater danger in life is not that we set our aims too high and fail, but we set them too low and still do � Michelangelo
Your aim is to not get fired. You want to buy an insurance policy to a secure job as if you are the only one entitled to have a job. This is a lower aim so you are bound to fail i.e. lose your job.
And how do you define �replacing some American workers�. There is a plant in Yuma, AZ manufacturing aircrafts for Kingfisher airlines in India. Doesn�t this mean that someone in India is being replaced by American worker???? Maybe we should stop all trade and we should have all needs of one country fill within its borders. Maybe we should say � from now on no one is going to do any business, collaboration, partnership and place orders to companies outside of the borders of the country where you live.
The best argument of restrictionist is either talk about no H-1B or green cards or talk about unlimited H-1Bs and green cards as if the extremes make the only reality in this world. Have you ever seen numbers like 290,000 or maybe 450,000. These are called whole numbers in mathematics and reside somewhere between ZERO and INFINITY/UNLIMITED.
Stop bickering in the name of American people. More than 99% Americans don�t even know what is H-1B visa or employment based green card. And one more thing, people�s opinion is the most foolish thing to look at when making a decision. Do you remember the % of people in favor of Iraq war in 2002? - More than 70%
Do you know how many people are in favor of pulling out of Iraq now, putting all the blame on the Administration? � around 70%
Do you know the % of �American people� saying that they screwed up by supporting the war in 2002? � 0%
No one would come out to say the nations and millions of people got screwed up due to "MY" twisted ideology in 2002. So let�s keep this argument of �American People� out of this debate.
In free market and capitalist economy, the measure of productivity doesn�t come from some lawmaker who is out of sink with reality or from the ideology of orgs like IEEE-USA or from posters like you. The measure of productivity comes from the employers and the companies. If employees on H-1Bs were unproductive then why are employers asking for more H-1Bs. I am sure my employer is not in love with me to give me check every two weeks. And if that is how it works best for the competitiveness and for the economy, society and the nation, then so be it. That is the reason why this society is more advanced. You may be afraid of such a situations/competitions but I am not scared of a scenario where someone who can perform a better job, either a citizen or someone on H-1B, takes my job. And I assure you that I won't whine about it. But that is ok, your way of thinking is all based on the premises that every one out is going to get you and some how you have to eliminate this competition at the soonest.
You have used the argument of abuse, productivity, economy, outsourcing, country of origin and the color of Dick Morris� underwear - to argue against H-1B and against green card number increase. Time and again I have said that this is not about H-1B. We, the people on this forum, want to discuss about GREEN CARD BACKLOGS. But you want to keep the discussion away from green card backlog and want the discussion be in the arena of H-1B. I must share with you that I have received atleast 7 different private messages telling me to �not waste my time with idiot like yourself�.
Like you ass, you keep your views and your opinions with yourself. Don�t poke your ass and your views into a place where they don�t belong. And please stop worrying about being displaced by someone else on H-1B. You have not even gotten green card and you have already turned into a restrictionist. Please wait for sometime and there will be enough time and opportunity for you to join the ranks of IEEE-USA. This makes me to think that there are 2 possibilities:
1.) You have very low self esteem and you have a low opinion about yourself. Thus you are scared of the competition
2.) You are not capable enough or you are not technically sound to compete with others around you. And just like IEEE-USA, you are looking for ways to eliminate your future probable competition using words/phrases like �displacement of US workers�.
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mariner5555
04-14 04:01 PM
Unfortunately time will never move in reverse and will move in just one direction. A childhood gone is gone. It will never come back. We all want good things for our kids. My perception of good thing is different from yours. If my kid says that he wants to live in an apartment I will move to an apartment, that’s a given.
Exactly. now before you jump ..let me say that this may not be applicable to you. but most of the people that I know of, who have very young kids ( 1 - 5/6 year olds) ..buying a house was a wrong decision. (and common sense says the same thing). Because they bought the house - either they had to slog extra or take up 2 jobs and/or spouse has to work. some of them had a baby sitter ..who would put the kid in front of the TV all day. some of the kids are/were at home all day with their mother (but no friends) and hence they were lonely. (wife does not know how to drive or only one car) ..some of the luckier ones were the ones who could afford to put them in all day daycare
(but in this case ..kid hardly knows his parents well). now ofcourse there are some exceptions --where the sub-division of houses have lot of likeminded people / kids of same age and hence the kids have friends.
in my humble opinion ..the best case is where a mother takes care of the son as long as possible and at the same time the kid plays with other kids of same age ..(there are definitely many exceptions) ...and most (neutral) people would say that those who rent would be more likely to have this best case.
Exactly. now before you jump ..let me say that this may not be applicable to you. but most of the people that I know of, who have very young kids ( 1 - 5/6 year olds) ..buying a house was a wrong decision. (and common sense says the same thing). Because they bought the house - either they had to slog extra or take up 2 jobs and/or spouse has to work. some of them had a baby sitter ..who would put the kid in front of the TV all day. some of the kids are/were at home all day with their mother (but no friends) and hence they were lonely. (wife does not know how to drive or only one car) ..some of the luckier ones were the ones who could afford to put them in all day daycare
(but in this case ..kid hardly knows his parents well). now ofcourse there are some exceptions --where the sub-division of houses have lot of likeminded people / kids of same age and hence the kids have friends.
in my humble opinion ..the best case is where a mother takes care of the son as long as possible and at the same time the kid plays with other kids of same age ..(there are definitely many exceptions) ...and most (neutral) people would say that those who rent would be more likely to have this best case.
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unitednations
08-08 08:00 PM
Hi Unitednations,
I have a little problem. I am a canadian citizen on H1b and used to commute across the border everyday. I work for Ford and every year during christmas we get a week long vacation. My contracting company does not pay me for the xmas break. So, I filed for unemployment compensation in michigan for that week - reason - temporary layoff (as a Canadian Citizen you can collect unemployment from michigan......thats what my US citizen colleagues do every year........Does this mean I was out of status for that week?....Can this cause my I-485 to get rejected? (I have done it twice in 5 years)
No.
Yeah; you wre out of status for those weeks that you took unemployment.
It shouldn't impact you since, you have been going in and out of the country. (ie., 245k).
It is very dangerous for companies to lay off workers and they take unemployment compensation. This is one of the reasons the mainstream companies don't do h-1b or greencard because there are complexities if people are being laid off and taking unemployment.
Are you still living in Canada. Not much advantage to it anymore. Looks like their prices haven't been adjusted downwards. It's probably more expensive now to live in Windsor/Toronto and to commute on a daily basis to Detroit.
I have a little problem. I am a canadian citizen on H1b and used to commute across the border everyday. I work for Ford and every year during christmas we get a week long vacation. My contracting company does not pay me for the xmas break. So, I filed for unemployment compensation in michigan for that week - reason - temporary layoff (as a Canadian Citizen you can collect unemployment from michigan......thats what my US citizen colleagues do every year........Does this mean I was out of status for that week?....Can this cause my I-485 to get rejected? (I have done it twice in 5 years)
No.
Yeah; you wre out of status for those weeks that you took unemployment.
It shouldn't impact you since, you have been going in and out of the country. (ie., 245k).
It is very dangerous for companies to lay off workers and they take unemployment compensation. This is one of the reasons the mainstream companies don't do h-1b or greencard because there are complexities if people are being laid off and taking unemployment.
Are you still living in Canada. Not much advantage to it anymore. Looks like their prices haven't been adjusted downwards. It's probably more expensive now to live in Windsor/Toronto and to commute on a daily basis to Detroit.
thakurrajiv
04-06 09:12 AM
:eek:
I have been reading this thread with a lot of interest and could not hold back from commenting on the unbridled optimism many of you guys are showing towards the housing market, which reminds me of the "long tailed" euphoria that followed long after the NASDAQ had crashed over 50% in 2001 after the tech bubble, and people kept wishing it would come back long after it became clear to most cynical observers that it would take decades to achieve the same levels as before (and it hasn't yet)...
Housing has not yet bottomed. It still has a long way to go. You guys may think that the foreclosures related to subprime resets have subsided so the market may recover. You haven't seen anything yet. Consider:
http://www.irvinehousingblog.com/wp-content/uploads/2007/04/loan-matrix.jpg
and:
http://www.irvinehousingblog.com/wp-content/uploads/2007/04/adjustable-rate-mortgage-reset-schedule.jpg
Option ARMs (adjustable rate mortgages) and Alt-A ARMs are the next two shoes to drop. In case you've had your head buried in the sand, the economy is on verge of a collapse. Unemployment is soaring and many more companies are considering layoffs. Many economic observers are opining that we are already in recession.
Desi junta, and others, I entreat you readers to please consider this seriously in your house purchase decisions. If for some reason you need to sell and move out, at a minimum you will be saving some money (by not losing your downpayment, for example) by choosing to rent. Rent a house/townhouse from a private owner if you are tired of renting an apartment and have growing kids - it's a "renters market" in the private rental marketplace right now with so many investment properties purchased during the housing bubble available for rent.
I would like to offer up a few blogs, whose commentators should be taken seriously. I recommend you read and bookmark the following blogs if you want to follow the housing market and the economy:
http://calculatedrisk.blogspot.com/
http://www.irvinehousingblog.com/
http://housingpanic.blogspot.com/
http://globaleconomicanalysis.blogspot.com/
I like this website for people just starting out to get more financially educated (in an entertaining way):
http://www.minyanville.com/
Good luck and please be careful before 'taking the plunge!'
very good post jung.lee. As you said lay offs have not even started !! Recent 80000 job loss data came in. This is givt data which is a lot worse than expected. Imagine the real job losses !!
For me this is beginning of end !! Things will get real now. House prices will come in line with what people can afford .....
I have been reading this thread with a lot of interest and could not hold back from commenting on the unbridled optimism many of you guys are showing towards the housing market, which reminds me of the "long tailed" euphoria that followed long after the NASDAQ had crashed over 50% in 2001 after the tech bubble, and people kept wishing it would come back long after it became clear to most cynical observers that it would take decades to achieve the same levels as before (and it hasn't yet)...
Housing has not yet bottomed. It still has a long way to go. You guys may think that the foreclosures related to subprime resets have subsided so the market may recover. You haven't seen anything yet. Consider:
http://www.irvinehousingblog.com/wp-content/uploads/2007/04/loan-matrix.jpg
and:
http://www.irvinehousingblog.com/wp-content/uploads/2007/04/adjustable-rate-mortgage-reset-schedule.jpg
Option ARMs (adjustable rate mortgages) and Alt-A ARMs are the next two shoes to drop. In case you've had your head buried in the sand, the economy is on verge of a collapse. Unemployment is soaring and many more companies are considering layoffs. Many economic observers are opining that we are already in recession.
Desi junta, and others, I entreat you readers to please consider this seriously in your house purchase decisions. If for some reason you need to sell and move out, at a minimum you will be saving some money (by not losing your downpayment, for example) by choosing to rent. Rent a house/townhouse from a private owner if you are tired of renting an apartment and have growing kids - it's a "renters market" in the private rental marketplace right now with so many investment properties purchased during the housing bubble available for rent.
I would like to offer up a few blogs, whose commentators should be taken seriously. I recommend you read and bookmark the following blogs if you want to follow the housing market and the economy:
http://calculatedrisk.blogspot.com/
http://www.irvinehousingblog.com/
http://housingpanic.blogspot.com/
http://globaleconomicanalysis.blogspot.com/
I like this website for people just starting out to get more financially educated (in an entertaining way):
http://www.minyanville.com/
Good luck and please be careful before 'taking the plunge!'
very good post jung.lee. As you said lay offs have not even started !! Recent 80000 job loss data came in. This is givt data which is a lot worse than expected. Imagine the real job losses !!
For me this is beginning of end !! Things will get real now. House prices will come in line with what people can afford .....
manub
07-07 09:59 PM
Yes I called all senators from the state and also local representative.Only local representative responded and their office contacted uscis for my EAD.We didnot contact any body for my husband`s petition .we are planning to do so this week.It is at NSC.
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