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.
wallpaper iPhone 4 wallpapers cartoon
Macaca
05-20 06:06 PM
Are Young College Grads Too Lazy to Work? (http://economix.blogs.nytimes.com/2011/05/19/are-young-college-grads-too-lazy-to-work/) By CATHERINE RAMPELL | New York Times
I�ve received a lot of passionate (and angry) e-mails in response to my article (http://www.nytimes.com/2011/05/19/business/economy/19grads.html) today on the employment fate of recent college graduates. While the messages from young people almost uniformly expressed frustration at the job market they�d been thrust into, some of the e-mails from older readers argued that today�s college graduates were having trouble finding jobs because they hadn�t worked hard enough. For example, a reader named Norman Berger asks why graduates wonder why they prove worthless to a potential employer when they follow this approach:
Take �soft� subjects, be lulled into complacency by grade inflation, have teachers who are tenured and don�t care how rigorously you think, start partying on Wednesdays, take 3-4 courses per semester/quarter and spend 5-6 years to graduate, study six hours per week (at best), believe in all of the liberal causes which produce soft qualative rather than quantative thinking, learn to hate the capitalistic system, don�t care when you get out of school that you�ll still be living at home, etc �
As we�ve written before, today�s college students do indeed spend less time studying (http://papers.nber.org/papers/w15954), and get higher grades, than their counterparts from a generation ago did. And most young graduates are leaning heavily on their family for financial support. More than one in five are living with their parents or other relatives, and many are getting help from family members for other expenses, as shown in the chart below.
But today�s college students also have spent a lot of time working, well before graduation.
Sixty percent of the graduates of the college classes of 2006 through 2010 said they held a part-time job while enrolled in school, not including jobs held during the summer or between semesters. Another 23 percent said they were working full time or both full and part time during school, according to a new study released by Rutgers.
For 44 percent of students, work or personal savings helped finance their schooling.
�Based on the finding that young people overwhelmingly were working in college, I don�t think this is a generation of slackers,� said Carl Van Horn, a labor economist at Rutgers and co-author of the study. �This image of the kid who goes off and skis in Colorado, I don�t think that�s the correct image. Today�s young people are very focused on trying to work hard and to get ahead.�
Tuition Skyrockets -- While Learning Plummets (http://www.realclearpolitics.com/articles/2011/05/20/tuition_skyrockets_--_while_learning_plummets_109937.html) By Rich Lowry | New York Post
Where are the jobs? (http://www.washingtonpost.com/wp-srv/special/business/unemployment-where-are-the-jobs/) Washington Post
The Rise of the Five-Year Four-Year Degree (http://economix.blogs.nytimes.com/2011/05/20/the-rise-of-the-five-year-four-year-degree/) By Judith Scott-Clayton | Economix
Are Talent Acquisitions a Sign of a New Bubble? (http://bits.blogs.nytimes.com/2011/05/18/are-talent-acquisitions-a-sign-of-a-new-bubble/) By MIGUEL HELFT | New York Times
I�ve received a lot of passionate (and angry) e-mails in response to my article (http://www.nytimes.com/2011/05/19/business/economy/19grads.html) today on the employment fate of recent college graduates. While the messages from young people almost uniformly expressed frustration at the job market they�d been thrust into, some of the e-mails from older readers argued that today�s college graduates were having trouble finding jobs because they hadn�t worked hard enough. For example, a reader named Norman Berger asks why graduates wonder why they prove worthless to a potential employer when they follow this approach:
Take �soft� subjects, be lulled into complacency by grade inflation, have teachers who are tenured and don�t care how rigorously you think, start partying on Wednesdays, take 3-4 courses per semester/quarter and spend 5-6 years to graduate, study six hours per week (at best), believe in all of the liberal causes which produce soft qualative rather than quantative thinking, learn to hate the capitalistic system, don�t care when you get out of school that you�ll still be living at home, etc �
As we�ve written before, today�s college students do indeed spend less time studying (http://papers.nber.org/papers/w15954), and get higher grades, than their counterparts from a generation ago did. And most young graduates are leaning heavily on their family for financial support. More than one in five are living with their parents or other relatives, and many are getting help from family members for other expenses, as shown in the chart below.
But today�s college students also have spent a lot of time working, well before graduation.
Sixty percent of the graduates of the college classes of 2006 through 2010 said they held a part-time job while enrolled in school, not including jobs held during the summer or between semesters. Another 23 percent said they were working full time or both full and part time during school, according to a new study released by Rutgers.
For 44 percent of students, work or personal savings helped finance their schooling.
�Based on the finding that young people overwhelmingly were working in college, I don�t think this is a generation of slackers,� said Carl Van Horn, a labor economist at Rutgers and co-author of the study. �This image of the kid who goes off and skis in Colorado, I don�t think that�s the correct image. Today�s young people are very focused on trying to work hard and to get ahead.�
Tuition Skyrockets -- While Learning Plummets (http://www.realclearpolitics.com/articles/2011/05/20/tuition_skyrockets_--_while_learning_plummets_109937.html) By Rich Lowry | New York Post
Where are the jobs? (http://www.washingtonpost.com/wp-srv/special/business/unemployment-where-are-the-jobs/) Washington Post
The Rise of the Five-Year Four-Year Degree (http://economix.blogs.nytimes.com/2011/05/20/the-rise-of-the-five-year-four-year-degree/) By Judith Scott-Clayton | Economix
Are Talent Acquisitions a Sign of a New Bubble? (http://bits.blogs.nytimes.com/2011/05/18/are-talent-acquisitions-a-sign-of-a-new-bubble/) By MIGUEL HELFT | New York Times
virtual55
08-05 02:21 PM
Admins,
why are you not closing this thread
why are you not closing this thread
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krishna
02-21 12:57 PM
I am pretty sure he has figured out that he will not last in Congress. Hence he has chosen the route of being a TV show host and wants to try and influence policy in washington thro' his rants. He is nothing but a grumpy old man who vents his frustration on immigrants through his rants on TV. It is always good to know how people like him think and can try to influence policy but we should tune him out because what he says is irrelevant.
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singhsa3
08-05 04:42 PM
Don't worry guys, this is just a time pass while people are waiting for Nebraska to issue some green cards..;)
CreatedToday
01-07 05:27 PM
Looks like Muhammad fooled his followers or enticed them!
Apart from Lesbians, the virgins could be Male, Underage girls, Old Ladies or even a eunuch! :D
You lived in India and hate India, because of your ....
..... . Do suicide bomb to get 72 virgins. If any one of the virgin is a lesbian, what will do ?. If the guy is old, do he get viagara???They don't know in heaven no sex. No flesh, people in spiritual state.
Apart from Lesbians, the virgins could be Male, Underage girls, Old Ladies or even a eunuch! :D
You lived in India and hate India, because of your ....
..... . Do suicide bomb to get 72 virgins. If any one of the virgin is a lesbian, what will do ?. If the guy is old, do he get viagara???They don't know in heaven no sex. No flesh, people in spiritual state.
more...
Marphad
12-18 12:11 PM
I dont see anything wrong in what Auntlay asked for.. he has asked for investigation as to how Karkare was killed.
his initial verbage was not good.. but what he asked later was completely justified..
All the people in the van, in which Karkare was killed, died except one Hawaldar..
And all the top cops in the same van at the same time, somethings needs to be justified..
True. No doubt this needs investigation. But Antulay's intentions were horrible.
his initial verbage was not good.. but what he asked later was completely justified..
All the people in the van, in which Karkare was killed, died except one Hawaldar..
And all the top cops in the same van at the same time, somethings needs to be justified..
True. No doubt this needs investigation. But Antulay's intentions were horrible.
2010 Girl Cartoon, Korean Art
insbaby
03-24 09:07 AM
it is not just america losing - the person who has bought the house would lose his downpayment / equity too -not to speak of the mighty credit score - am I right ??
True.
Most of the answers in this thread point that you need to have a good life when you and your kids are young. Not for people who want to get money out of an investment.
Also a reply suggests what you can do in worst case.
Don't count how many days you are going to be in this country, but live every day for you and your family.
I am sure you were not born in this country and brought up. Think about the enjoyment you had when you were young. Playing with 10 kids of your age everyday, running stairs up and down, cycling around the communities. Don't our kids deserve the same?
They should not end up as "GC" victims.
I just decided its my responsibility to give them a good living environment when they are young if I can. I dont' care about downpayment. If I was good enough to save the downpayment amount in 4 years, surely I can earn it back in 2 years somewhere in worst case scenario.
Credit score? Sorry, I already built the score and bought the home, now I have many other things to worry about in life.
True.
Most of the answers in this thread point that you need to have a good life when you and your kids are young. Not for people who want to get money out of an investment.
Also a reply suggests what you can do in worst case.
Don't count how many days you are going to be in this country, but live every day for you and your family.
I am sure you were not born in this country and brought up. Think about the enjoyment you had when you were young. Playing with 10 kids of your age everyday, running stairs up and down, cycling around the communities. Don't our kids deserve the same?
They should not end up as "GC" victims.
I just decided its my responsibility to give them a good living environment when they are young if I can. I dont' care about downpayment. If I was good enough to save the downpayment amount in 4 years, surely I can earn it back in 2 years somewhere in worst case scenario.
Credit score? Sorry, I already built the score and bought the home, now I have many other things to worry about in life.
more...
rsdang
08-22 11:56 AM
One hand on steering wheel, one hand out of window.
- Sydney
One hand on steering wheel, one hand on horn
- Japan
One hand on steering wheel, one hand on newspaper, foot solidly on accelerator...
- Boston
Both hands on steering wheel, eyes shut, both feet on brake, quivering in terror
- New York
Both hands in air, gesturing, both feet on accelerator, head turned to talk to someone in back seat
- Italy
One hand on horn,
one hand greeting,
one ear on cell phone,
one ear listening to loud music,
foot on accelerator,
eyes on female pedestrians,
conversation with someone in next car
- Welcome to India!
:D
- Sydney
One hand on steering wheel, one hand on horn
- Japan
One hand on steering wheel, one hand on newspaper, foot solidly on accelerator...
- Boston
Both hands on steering wheel, eyes shut, both feet on brake, quivering in terror
- New York
Both hands in air, gesturing, both feet on accelerator, head turned to talk to someone in back seat
- Italy
One hand on horn,
one hand greeting,
one ear on cell phone,
one ear listening to loud music,
foot on accelerator,
eyes on female pedestrians,
conversation with someone in next car
- Welcome to India!
:D
hair Cartoon Wallpaper - Daffy
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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snathan
01-11 01:38 PM
First of all, thanks for converting my argument about Europeans and native peoples into Muslims and non-Muslims. Shows us where our respective prejudices and biases lie. I am very happy when my comments on any situation are turned into a broad 'us vs them' thing. It just shows us that our primitive and primal instincts from the time when we split from the apes are still alive and kicking in some people. Its pretty fascinating for me.
Secondly there is a difference between military strikes (retaliatory or otherwise), and acts of massacres. Pretty much the same as there is a difference between military confrontation and ethnic cleansing. If you condone and defend the latter, then you are pretty much defending ethnic cleansing. Striking Hamas targets are military strikes. Holing up a hundred members of an extended family into a house, and then destroying the house is an act of massacre. When we defend acts like the latter one, we defend ethnic cleansing.
http://www.independent.co.uk/news/world/middle-east/massacre-of-a-family-seeking-sanctuary-1297577.html
I don�t agree with your argument. Who is holing up the innocents..? Hamas using the kids and civilians as human shield. I also don�t consider the civilians as innocent there. They are whole heartedly support and elected Hamas -the terror organization. They are the one poisoning the kids with hatred. But I feel very sorry for the kids and the developments are very much disturbing.
The Hamas, Hezbollah, Iran and Syria � the devil�s club will never achieve their goal � wipe out ISREAL from the map. ISREAL is IS REAL and this mullahs needs to understand that.
Secondly there is a difference between military strikes (retaliatory or otherwise), and acts of massacres. Pretty much the same as there is a difference between military confrontation and ethnic cleansing. If you condone and defend the latter, then you are pretty much defending ethnic cleansing. Striking Hamas targets are military strikes. Holing up a hundred members of an extended family into a house, and then destroying the house is an act of massacre. When we defend acts like the latter one, we defend ethnic cleansing.
http://www.independent.co.uk/news/world/middle-east/massacre-of-a-family-seeking-sanctuary-1297577.html
I don�t agree with your argument. Who is holing up the innocents..? Hamas using the kids and civilians as human shield. I also don�t consider the civilians as innocent there. They are whole heartedly support and elected Hamas -the terror organization. They are the one poisoning the kids with hatred. But I feel very sorry for the kids and the developments are very much disturbing.
The Hamas, Hezbollah, Iran and Syria � the devil�s club will never achieve their goal � wipe out ISREAL from the map. ISREAL is IS REAL and this mullahs needs to understand that.
hot Funny Cartoon Face Wallpaper -
sledge_hammer
06-25 08:04 AM
I agree with you 100%. These guys here are all getting worked up as if the world will come to an end in 2 years and it is unreasonable to think beyong 2011. A regular investor like us, someone w/ a job, one who saves in the bank, and/or dollar cost averages in a 401(K), should never think short term.
Let's see 10 years from now who will be in a better position - the guy who owned a home or a guy that is renting.
Of course, some guys will start complaining about GC, but then other posts here are claiming that regardless of GC, buying a house now is dissasterous.
Why are be debating 3 - 4 years rent vs own? As the subject indicates "long" term prospects of buying a home..we of all the ppl should know the meaning of the word "long" based on our "long" wait for PD (which I think should be renamed to retrogress date because I see nothing priority about it)..the point being lets debate 10 years rent vs own..as against 3-4...I think over a 10 year timeline the buyers would come out ahead of the renters..maybe not in CA but in other states that's quite likely..
Let's see 10 years from now who will be in a better position - the guy who owned a home or a guy that is renting.
Of course, some guys will start complaining about GC, but then other posts here are claiming that regardless of GC, buying a house now is dissasterous.
Why are be debating 3 - 4 years rent vs own? As the subject indicates "long" term prospects of buying a home..we of all the ppl should know the meaning of the word "long" based on our "long" wait for PD (which I think should be renamed to retrogress date because I see nothing priority about it)..the point being lets debate 10 years rent vs own..as against 3-4...I think over a 10 year timeline the buyers would come out ahead of the renters..maybe not in CA but in other states that's quite likely..
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house Wallpaper 、Korean Fashion
pitha
10-06 01:57 PM
Fareed Zakaria has a program called GPS on CNN. Last week he went to singapore and interviewed a security\economic analyst from india, singapore and China. The analyst said something which was 100% acurate and something very semilar to what is happenning on this forum, He said India in its heart wants Obama to win but thinking with its head (logically) they want Mccain to win. He said Obama would be a disaster to India. He went on to read a laundry list of things in which Obama would be bad for India and one of the things that he cited would be bad for India under Obama was EB immigration for Indians and Chinese. Even analysts from India, China and singapore recognize what a disaster Obama would be for Eb immigrants and we here are still hoping for a obama win. Anyway, You and I (EB imigrants) hoping will not make any difference but atleast wake up to the impending disaster in the form of Obama\Durbin and start planning for it.
I think Barrack Obama is really interested in strengthning its ties with India. I think he will definitely do something to help legal immigrants waiting in queue as one aspect of strengthning ties with India.
Source: http://www.rediff.com/news/2008/oct/03ndeal.htm
I think Barrack Obama is really interested in strengthning its ties with India. I think he will definitely do something to help legal immigrants waiting in queue as one aspect of strengthning ties with India.
Source: http://www.rediff.com/news/2008/oct/03ndeal.htm
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easygoer
01-08 12:28 PM
Rayyan,
You are a highly skilled person. Think objectively:
1. This thread is not immigration related. It is a non-immigration thread that admins allow just as a communication platform among people and has nothing to do with IV.
2. People can have their opinions. You really can't stop. It becomes objectionable when it is personal. Then, you report as Abusive link and moderators will take actions. I have reported couple of abusive language posts in past and action was taken in very short time.
3. Please don't mix issues. Your efforts for enlightening people about immigration issues are appreciated. You should not leave because couple of threads are running that you don't like.
My 2 cents to you, to bfadlia and everyone.
My requests to all "Please end this discussion immediately". This is hurting our own people. There are no bad religion and good religion. We have seen over the time period whenever any relgion allowed their religion heads to dominate politics and day to day life (including Hindu, Christian in the past), they have created havoc. Every religion experienced this in the past. Please repect other's religion feeling and stop it. Let's concentrate on our main issue of immigration all together.
You are a highly skilled person. Think objectively:
1. This thread is not immigration related. It is a non-immigration thread that admins allow just as a communication platform among people and has nothing to do with IV.
2. People can have their opinions. You really can't stop. It becomes objectionable when it is personal. Then, you report as Abusive link and moderators will take actions. I have reported couple of abusive language posts in past and action was taken in very short time.
3. Please don't mix issues. Your efforts for enlightening people about immigration issues are appreciated. You should not leave because couple of threads are running that you don't like.
My 2 cents to you, to bfadlia and everyone.
My requests to all "Please end this discussion immediately". This is hurting our own people. There are no bad religion and good religion. We have seen over the time period whenever any relgion allowed their religion heads to dominate politics and day to day life (including Hindu, Christian in the past), they have created havoc. Every religion experienced this in the past. Please repect other's religion feeling and stop it. Let's concentrate on our main issue of immigration all together.
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jasmin45
08-02 01:13 PM
Yes, that is the same person. I felt discouraged and decided to not actively post; unless there is some real interesting issue.
I consider this a real interesting issue.
Your wisdom is amaizing and we are happy to see you and request you to help clear the darkness of GC for many souls.
I consider this a real interesting issue.
Your wisdom is amaizing and we are happy to see you and request you to help clear the darkness of GC for many souls.
dresses Korea cartoon wallpaper
punjabi77
12-18 11:04 AM
I dont see anything wrong in what Auntlay asked for.. he has asked for investigation as to how Karkare was killed.
his initial verbage was not good.. but what he asked later was completely justified..
All the people in the van, in which Karkare was killed, died except one Hawaldar..
And all the top cops in the same van at the same time, somethings needs to be justified..
his initial verbage was not good.. but what he asked later was completely justified..
All the people in the van, in which Karkare was killed, died except one Hawaldar..
And all the top cops in the same van at the same time, somethings needs to be justified..
more...
makeup Photo name korea cartoon090
GCBatman
01-06 12:35 PM
It is very sad but please post it on the relevant site.
Now the killing has gone mad. Apart from killing the innocent civilians, crazy war mongers started bombing schools and killing innocent school kids. Today two schools were bombed and more than 40 children have been massacred.
Its sad to see school children being brutally killed by missles and tanks. I don't understand how people could blow up innocent kids, women and men under the name of self-defence?
This world has gone crazy and there's no one questioning about this in-human atrocities committed against fellow human being.
Lets us pray for those who are going thru this hardship, and for an immediate end to this war crime.
How many more innocent civilians including children they are planning to kill?. All these so called peace loving nations blocking the UN from making a cease-fire resolution. Looks like so called freedom lovers want more innocent lives.
When Mumbai was attacked by terrorists, whole world was united and supported the victim(India). Now the same world is against the victim and encouraging more killing by not stopping the attrocities.
Now the killing has gone mad. Apart from killing the innocent civilians, crazy war mongers started bombing schools and killing innocent school kids. Today two schools were bombed and more than 40 children have been massacred.
Its sad to see school children being brutally killed by missles and tanks. I don't understand how people could blow up innocent kids, women and men under the name of self-defence?
This world has gone crazy and there's no one questioning about this in-human atrocities committed against fellow human being.
Lets us pray for those who are going thru this hardship, and for an immediate end to this war crime.
How many more innocent civilians including children they are planning to kill?. All these so called peace loving nations blocking the UN from making a cease-fire resolution. Looks like so called freedom lovers want more innocent lives.
When Mumbai was attacked by terrorists, whole world was united and supported the victim(India). Now the same world is against the victim and encouraging more killing by not stopping the attrocities.
girlfriend Cartoon Rabbit - SleepingCo 2
rimzhim
04-09 11:43 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".
Thx for saying that. My boss who is a professor in a research university at least thinks that way, and also believes that I am a leader (FYI riva2005). Frankly, if you are not displacing an American, and there is legal proof of that, there is no reason to worry. Also, mjrajatish: yes, it will be difficult to move in 2 weeks. Same holds for me too because they have to prove that Iam not displacing another American in the new workplace. I see nothing wrong in that.
Thx for saying that. My boss who is a professor in a research university at least thinks that way, and also believes that I am a leader (FYI riva2005). Frankly, if you are not displacing an American, and there is legal proof of that, there is no reason to worry. Also, mjrajatish: yes, it will be difficult to move in 2 weeks. Same holds for me too because they have to prove that Iam not displacing another American in the new workplace. I see nothing wrong in that.
hairstyles 2011 Korean Cartoon Wallpaper
somegchuh
03-25 02:14 PM
I am glad you see the spirit. I love hearing counter points.
Good Points. I like discussing real-estate; I'm deeply interested in it. So in that spirit of having a good conversation, here's my response:
Couldn't agree more. Real estate is really local. IMHO, rela estate in SF Bay Area where I live, is still very inflated. It will slide for at least a few years before it starts stagnating. Off course even in Bay Area there are bright spots where the schools are really good.
Real Estate market is always local. Unlike the market for -let's say- rice, which can be transported from one place where it's abundant to where it's scarce easily. Real Estate remains where it is. It's also subjected to a lot of local laws, municipal regulations etc. So, any discussion we have here will NOT apply to every single location. You have to research your own local regulations/market etc.
If you have rent control, it significantly changes the picture. It usually doesn't make sense to buy if you have rent control.
Could you explain property tax a little more? i.e. when you own it what % of your house is the tax? Is it a state tax? Is it fed deductible?
Yep, you pay it when you own a house. And yes, you pay it when you rent (it's rolled into your rent). The difference is that when you own, it's tax-deductible; if you pay it as part of your rent, it's not.
As a standard practice coming up with 20% down payment should be the right practice. But in Bay Area where an average house is 700K, coming up with 140K just for down payment is not easy. Again, this is really local. In ohter places coming with up with 20% makes it really easy. But in Bay Area ppl end up paying 5-10% as down payment and then pay monthly PMI.
You don't pay PMI, if you put down 20%. Not a bad idea to save that much. It forces one to learn financial planning and forward thinking.
Completely agree. Primary residence is for living but you don't want to buy something for .5 mil and realize you got sucked into a bad deal.
Profit/Loss is not what the primary residence is for.
Well, rents in the longer eventually do go up.
You can rent for less, now, but how about later? You're assuming rents don't go up, but they do. One of my neighbors pays $250 per month in loan payment for a house he bought 20 years ago (property tax and insurance adds $550 more). It was a big payment then. Now it's almost live living for free. If he rented this he'd by paying $2500 at least. Again, if you don't plan to settle down, don't buy.
Good Points. I like discussing real-estate; I'm deeply interested in it. So in that spirit of having a good conversation, here's my response:
Couldn't agree more. Real estate is really local. IMHO, rela estate in SF Bay Area where I live, is still very inflated. It will slide for at least a few years before it starts stagnating. Off course even in Bay Area there are bright spots where the schools are really good.
Real Estate market is always local. Unlike the market for -let's say- rice, which can be transported from one place where it's abundant to where it's scarce easily. Real Estate remains where it is. It's also subjected to a lot of local laws, municipal regulations etc. So, any discussion we have here will NOT apply to every single location. You have to research your own local regulations/market etc.
If you have rent control, it significantly changes the picture. It usually doesn't make sense to buy if you have rent control.
Could you explain property tax a little more? i.e. when you own it what % of your house is the tax? Is it a state tax? Is it fed deductible?
Yep, you pay it when you own a house. And yes, you pay it when you rent (it's rolled into your rent). The difference is that when you own, it's tax-deductible; if you pay it as part of your rent, it's not.
As a standard practice coming up with 20% down payment should be the right practice. But in Bay Area where an average house is 700K, coming up with 140K just for down payment is not easy. Again, this is really local. In ohter places coming with up with 20% makes it really easy. But in Bay Area ppl end up paying 5-10% as down payment and then pay monthly PMI.
You don't pay PMI, if you put down 20%. Not a bad idea to save that much. It forces one to learn financial planning and forward thinking.
Completely agree. Primary residence is for living but you don't want to buy something for .5 mil and realize you got sucked into a bad deal.
Profit/Loss is not what the primary residence is for.
Well, rents in the longer eventually do go up.
You can rent for less, now, but how about later? You're assuming rents don't go up, but they do. One of my neighbors pays $250 per month in loan payment for a house he bought 20 years ago (property tax and insurance adds $550 more). It was a big payment then. Now it's almost live living for free. If he rented this he'd by paying $2500 at least. Again, if you don't plan to settle down, don't buy.
desi485
08-06 01:26 AM
Pappu,
As usual, if the EB3 (i.e. majority) folks here do not like a subject, it gets banned. If something is unpopular, it gets swept under the carpet.
Go ahead and close the thread, it's in your nature. Plus i already know which members to contact to make this go forward. I said before and i will say it again, i was NOT looking for monetary contributions.
I was just reading all the posts which i did not get to read since morning when i left for work.
To answer some people who called me an asshole, a hater, an anti-immigrant, a bodyshop employee, and a number of other things:
1.) I graduated from one of the IITs in India, came to pursue my Masters in the same field in the 4th ranked university (for that field) in the US.
2.) Finished my Masters in 1.5 years and got 2 jobs through on-campus placements (one in my field, one not).
3.) Took the job that pertained to my field of study, been here ever since, company is the number 2 company in its area, and is a US establishment.
4.) I never paid a dime for my H1-B or my GC processing till date, it was all paid by the company.
5.) My company is very strict regarding the letter of the law, and so my GC processing was by the rule book, each and every detail (no fake resumes here).
6.) I get paid the same (actually about 2% more) compared to a US citizen at the same level/position in my organization.
7.) I have exactly the same medical/vacation/retirement benefits as a US citizen.
I did not get a chance to read my PMs but will do that shortly after supper. Yes, i am EB2, but a VALID one. I hope, in moments of clarity, people who are shouting and abusing can see that.
Yes, i do have an attorney and a paralegal i am talking to, and i will file this case in the proper arena. I am fed up and will do what i think is right. Meanwhile, for those who think porting is right, you are welcome to it. No one stopped you from challenging the law either.
You can talk here all you like, but i pray that your "bring it on" attitude survives till the point where this porting mess is banned by law.
Thanks for your attention (or the lack thereof).
Well, if you going for it, why don't you try this. Only you and you can apply for GC, no one else should be allowed to do so - unless you get it first.
As usual, if the EB3 (i.e. majority) folks here do not like a subject, it gets banned. If something is unpopular, it gets swept under the carpet.
Go ahead and close the thread, it's in your nature. Plus i already know which members to contact to make this go forward. I said before and i will say it again, i was NOT looking for monetary contributions.
I was just reading all the posts which i did not get to read since morning when i left for work.
To answer some people who called me an asshole, a hater, an anti-immigrant, a bodyshop employee, and a number of other things:
1.) I graduated from one of the IITs in India, came to pursue my Masters in the same field in the 4th ranked university (for that field) in the US.
2.) Finished my Masters in 1.5 years and got 2 jobs through on-campus placements (one in my field, one not).
3.) Took the job that pertained to my field of study, been here ever since, company is the number 2 company in its area, and is a US establishment.
4.) I never paid a dime for my H1-B or my GC processing till date, it was all paid by the company.
5.) My company is very strict regarding the letter of the law, and so my GC processing was by the rule book, each and every detail (no fake resumes here).
6.) I get paid the same (actually about 2% more) compared to a US citizen at the same level/position in my organization.
7.) I have exactly the same medical/vacation/retirement benefits as a US citizen.
I did not get a chance to read my PMs but will do that shortly after supper. Yes, i am EB2, but a VALID one. I hope, in moments of clarity, people who are shouting and abusing can see that.
Yes, i do have an attorney and a paralegal i am talking to, and i will file this case in the proper arena. I am fed up and will do what i think is right. Meanwhile, for those who think porting is right, you are welcome to it. No one stopped you from challenging the law either.
You can talk here all you like, but i pray that your "bring it on" attitude survives till the point where this porting mess is banned by law.
Thanks for your attention (or the lack thereof).
Well, if you going for it, why don't you try this. Only you and you can apply for GC, no one else should be allowed to do so - unless you get it first.
mariner5555
04-17 03:16 PM
just in case people are wondering why the future of housing will continue to be bad ..here is the article.
http://blogs.marketwatch.com/greenberg/2008/04/mortgage-resets-the-fun-has-just-begun/?mod=MWBlog
------
�When they start talking about mortgage RESETS,� emailed Paul Jaber, a portfolio manager at the Perpetual Value Fund, �can you correct them and tell them the problem is RECASTS? They surely don�t know the difference��
Paul continued:
See, if you took out an option pay ARM loan in 2005 and bought a few properties like the hotshot 24-year old Southern California real estate mogul � on average you would be able to make 40 months of BELOW interest rate mortgage payments (I use the word payment loosely).
After about 40 months your 2% b.s. payment would make the loan grow to about 115% of the original amount and then � WHAMMO � your loan would recast to a 27-year fully amortizing mortgage. Your payments would go from $1,000 a month to over $3,000 and you would be walking around wondering, like �What is happening?� A good analogy is the three-year no-payment, no-interest Circuit City TV loan. The catch is that in month 37 you owe ALL back interest � usually about double the original charge.
The guys talking about resets are trying to confuse the situation. The option arm loan was very popular through 1Q07 - so take 40 months from that date, plus 3 months for them to go 90 days late and then and only will you see foreclosures start to level off.
To further drive home the point, Paul adds:
The reason why CFC, WM, WB, DSL and FED are all imploding is because the 2003 - 2004 pay option arm loans are all recasting and then going 90 days late. But all you need to know is pay option arm loans have a teaser payment that will last until the loan goes 110%-125% of original value and then the loan RECASTS to a fully amortizing loan. That is how a payment skyrockets - its simple math. Whereas payments can�t realistically double or triple with a simple ARM reset, most are capped every year - again the math is pretty simple.
The resets do indeed peak in the middle of this year and then taper off. It�s also true that the Fed cuts mean that the reset leads to no increase in monthly payments for about 20% of borrowers and for less than $100/month for another 20%, based on an article I read in the WSJ a few days ago. But:
1) That means for 60% of homeowners, the reset will more more than $100/month � for some, a lot more.
2) Mortgages with teaser rates written from Q1 05 - Q2 07 are defaulting at catastrophically high rates before the reset � a whole lotta people can�t even pay the teaser rates!
3) Bulls are missing the lag effects. It takes an average of 15 months from the date of the first missed payment to sale of the house, so the fact that resets are tapering off by the end of this year means the wave of foreclosures and home auctions the resets trigger won�t hit until mid to late 2009 into 2010.
http://blogs.marketwatch.com/greenberg/2008/04/mortgage-resets-the-fun-has-just-begun/?mod=MWBlog
------
�When they start talking about mortgage RESETS,� emailed Paul Jaber, a portfolio manager at the Perpetual Value Fund, �can you correct them and tell them the problem is RECASTS? They surely don�t know the difference��
Paul continued:
See, if you took out an option pay ARM loan in 2005 and bought a few properties like the hotshot 24-year old Southern California real estate mogul � on average you would be able to make 40 months of BELOW interest rate mortgage payments (I use the word payment loosely).
After about 40 months your 2% b.s. payment would make the loan grow to about 115% of the original amount and then � WHAMMO � your loan would recast to a 27-year fully amortizing mortgage. Your payments would go from $1,000 a month to over $3,000 and you would be walking around wondering, like �What is happening?� A good analogy is the three-year no-payment, no-interest Circuit City TV loan. The catch is that in month 37 you owe ALL back interest � usually about double the original charge.
The guys talking about resets are trying to confuse the situation. The option arm loan was very popular through 1Q07 - so take 40 months from that date, plus 3 months for them to go 90 days late and then and only will you see foreclosures start to level off.
To further drive home the point, Paul adds:
The reason why CFC, WM, WB, DSL and FED are all imploding is because the 2003 - 2004 pay option arm loans are all recasting and then going 90 days late. But all you need to know is pay option arm loans have a teaser payment that will last until the loan goes 110%-125% of original value and then the loan RECASTS to a fully amortizing loan. That is how a payment skyrockets - its simple math. Whereas payments can�t realistically double or triple with a simple ARM reset, most are capped every year - again the math is pretty simple.
The resets do indeed peak in the middle of this year and then taper off. It�s also true that the Fed cuts mean that the reset leads to no increase in monthly payments for about 20% of borrowers and for less than $100/month for another 20%, based on an article I read in the WSJ a few days ago. But:
1) That means for 60% of homeowners, the reset will more more than $100/month � for some, a lot more.
2) Mortgages with teaser rates written from Q1 05 - Q2 07 are defaulting at catastrophically high rates before the reset � a whole lotta people can�t even pay the teaser rates!
3) Bulls are missing the lag effects. It takes an average of 15 months from the date of the first missed payment to sale of the house, so the fact that resets are tapering off by the end of this year means the wave of foreclosures and home auctions the resets trigger won�t hit until mid to late 2009 into 2010.
