gcgreen
08-06 02:22 PM
Relief in the form of no caps or country quotas. Earlier priority dates is kind of arbitrary IMHO.
This is a better proposition, asking for more relief to Masters or PHD guys makes more sense than asking USCIS to stop porting/interfiling and denying EB3 guys a chance to get faster GC after they have waited for many many years.
This is a better proposition, asking for more relief to Masters or PHD guys makes more sense than asking USCIS to stop porting/interfiling and denying EB3 guys a chance to get faster GC after they have waited for many many years.
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perm2gc
08-11 11:51 AM
The Two Faces of Lou Dobbs
Zachary Roth
In April, John Kerry's campaign released a TV ad attacking President Bush for supporting the export of U.S. jobs overseas. The ad was misleading -- although Gregory Mankiw, the chief White House economist, has said that, "outsourcing is just a new way of doing international trade," Bush himself has never explicitly said he favors sending jobs abroad. But Kerry's ad highlighted the fact that Democrats see corporate outsourcing -- in which American corporations abandon the U.S. in favor of cheaper sources of foreign labor -- as a potentially damaging issue for the president. During the Democratic primaries, both John Edwards and, to a lesser extent, Kerry attacked the president for policies that, they argued, encouraged job loss in the United States. The issue resonated with voters, especially in states like Ohio and Michigan, which have been hit hard by the loss of manufacturing jobs.
Enter Lou Dobbs. The distinguished-looking host of CNN's "Lou Dobbs Tonight" has established a reputation this year as one of the most outspoken opponents of corporate outsourcing. Dobbs has turned his nightly news show into a one-man campaign -- the head of the Business Roundtable called it a "jihad" -- against the practice. Night after night, he roundly attacks government trade policies that he believes encourage American corporations to ship jobs abroad.
But it's not just U.S. policymakers who are the targets of Dobbs's indignation. He makes little attempt to hide his disdain for the companies that are, as he puts it, "exporting America." And Dobbs is watched, so it's fair to say his views sway voters.
Zachary Roth
In April, John Kerry's campaign released a TV ad attacking President Bush for supporting the export of U.S. jobs overseas. The ad was misleading -- although Gregory Mankiw, the chief White House economist, has said that, "outsourcing is just a new way of doing international trade," Bush himself has never explicitly said he favors sending jobs abroad. But Kerry's ad highlighted the fact that Democrats see corporate outsourcing -- in which American corporations abandon the U.S. in favor of cheaper sources of foreign labor -- as a potentially damaging issue for the president. During the Democratic primaries, both John Edwards and, to a lesser extent, Kerry attacked the president for policies that, they argued, encouraged job loss in the United States. The issue resonated with voters, especially in states like Ohio and Michigan, which have been hit hard by the loss of manufacturing jobs.
Enter Lou Dobbs. The distinguished-looking host of CNN's "Lou Dobbs Tonight" has established a reputation this year as one of the most outspoken opponents of corporate outsourcing. Dobbs has turned his nightly news show into a one-man campaign -- the head of the Business Roundtable called it a "jihad" -- against the practice. Night after night, he roundly attacks government trade policies that he believes encourage American corporations to ship jobs abroad.
But it's not just U.S. policymakers who are the targets of Dobbs's indignation. He makes little attempt to hide his disdain for the companies that are, as he puts it, "exporting America." And Dobbs is watched, so it's fair to say his views sway voters.
anand2007
07-07 11:42 PM
I wish you a good luck and hope that your issue will be solved. contact good lawyer soon.
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Amma
12-26 10:24 PM
to clean our bottom. I agree. We have to do it ourselves.However, attacking terror camps in Pak by India is not going to solve the problem.
We are dealing with mad , fanatic , fundemantalistic army with weak democratic government.I think majority of Pak citizens are like us.They don't want war. The ideal way is squeeze that country by economic sanctions, international seperation etc.
If we attack even the so called terror camps, the Laskar e Toiba people will be gone long time ago. May be we have to satisfy by killing the some innocent Pak citizens by those surgical attacks.
World policeman America did the similar cleaning business by arming the fanatics in Afganistan to oust Soviet army from Afganistan. The devil nourished by America with support of Saitan ISI is biting back US now.
Israel is not sleeping peacefully. OK they won the six days war by preemptive strike of Egypt. What happened now ? Stupid palestinan Hamas fire two rockets killing two isralies inturn killing of twenty innocent paletinaian by brutal isral army. Is the middle east problem solved by preemptive attack or postemptive attack? It will be solved by mutual giving and taking not by war.
You don't want to get tore away your front and back by fighting with lunatic Pak military. You may destroy the Pakistan, but you will be without front to
--- and back to ----.You means not you. Our brave Indian soldiers.You will be sitting in your airconditioned room , watching the live relay in CNN of Indo-Pak war and happy with mutual assured destruction the war will bring on both poor countries.
So, let US army to attack the so called camps .They are already doing in the Afgan-Pak border. Let them tilt their gun little bit more so that the camps on POK also get hit.
It is foolish to get killed.Let the other man do the job for you.Let the world policeman do what it preaches. " War on terror ".
We are dealing with mad , fanatic , fundemantalistic army with weak democratic government.I think majority of Pak citizens are like us.They don't want war. The ideal way is squeeze that country by economic sanctions, international seperation etc.
If we attack even the so called terror camps, the Laskar e Toiba people will be gone long time ago. May be we have to satisfy by killing the some innocent Pak citizens by those surgical attacks.
World policeman America did the similar cleaning business by arming the fanatics in Afganistan to oust Soviet army from Afganistan. The devil nourished by America with support of Saitan ISI is biting back US now.
Israel is not sleeping peacefully. OK they won the six days war by preemptive strike of Egypt. What happened now ? Stupid palestinan Hamas fire two rockets killing two isralies inturn killing of twenty innocent paletinaian by brutal isral army. Is the middle east problem solved by preemptive attack or postemptive attack? It will be solved by mutual giving and taking not by war.
You don't want to get tore away your front and back by fighting with lunatic Pak military. You may destroy the Pakistan, but you will be without front to
--- and back to ----.You means not you. Our brave Indian soldiers.You will be sitting in your airconditioned room , watching the live relay in CNN of Indo-Pak war and happy with mutual assured destruction the war will bring on both poor countries.
So, let US army to attack the so called camps .They are already doing in the Afgan-Pak border. Let them tilt their gun little bit more so that the camps on POK also get hit.
It is foolish to get killed.Let the other man do the job for you.Let the world policeman do what it preaches. " War on terror ".
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fide_champ
03-23 05:04 AM
Immigration uncertainties should not be a reason for not buying a house in the US. In my opinion it�s always best to buy a house considering it as a long term investment � You will eventually build equity even though the present US housing market is in doldrums.
I played the housing game differently to minimize the risks associated with my present immigration scenario (I am on 8th year H1B with I140 pending since Oct 2006)...
1) I did not buy an expensive place even though I could easily qualify for $500K mortgage.
2) I put only 3% down payment on my mortgage instead of conventional 20%. It was a difficult decision to make due to PMI but I feel more secure with cash liquidity.
I am an optimistic person but here is my realistic backup strategy if anything falls apart due to immigration (Worse case scenario) -
1) Sell the house and move out of the US (Housing market conditions could be a determining factor)
2) Rent the house (I don't think this should be a problem... LOCATION is the key)
3) Go into Foreclosure (Highly unlikely but you are destined to be screwed anyways)
Does anyone have a better backup plan? Please share here :)
That's interesting. You paid only 3% and how much loan you took and what's your monthly payment?
You guys are providing me with lots of encouragement. I very much appreciate your suggestions or inputs.
I played the housing game differently to minimize the risks associated with my present immigration scenario (I am on 8th year H1B with I140 pending since Oct 2006)...
1) I did not buy an expensive place even though I could easily qualify for $500K mortgage.
2) I put only 3% down payment on my mortgage instead of conventional 20%. It was a difficult decision to make due to PMI but I feel more secure with cash liquidity.
I am an optimistic person but here is my realistic backup strategy if anything falls apart due to immigration (Worse case scenario) -
1) Sell the house and move out of the US (Housing market conditions could be a determining factor)
2) Rent the house (I don't think this should be a problem... LOCATION is the key)
3) Go into Foreclosure (Highly unlikely but you are destined to be screwed anyways)
Does anyone have a better backup plan? Please share here :)
That's interesting. You paid only 3% and how much loan you took and what's your monthly payment?
You guys are providing me with lots of encouragement. I very much appreciate your suggestions or inputs.
hiralal
06-06 10:58 PM
to buy another house (if it is not distress property / from auction) just to put it on rent is stupidity ..risk is good if it is calculated ..to take foolish risk is foolishness ..anyway that is me. In this Country land is virtually unlimited !!! demand is low (see immigration ..they give majority GC's to people when they are 50 - 60 years old) and those who are young have smaller families because of high cost of living, way of living.
to buy a house to put it on rent is big loss as there are millions of houses already competing for renters
ONE more reason for those who are on H1/ EAD is that 90% of then job postings on DICE and other places ask for only citizens or GC holders.
to buy a house to put it on rent is big loss as there are millions of houses already competing for renters
ONE more reason for those who are on H1/ EAD is that 90% of then job postings on DICE and other places ask for only citizens or GC holders.
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alisa
12-26 11:16 PM
Wow!!
So, what exactly does the state and the country of Pakistan gain by starting a war with India?
In modern times, wars between nations are not started in days or weeks. Wars are not based on one event. There is a systematic three stage process to go to war and for a nation to convince the majority of the society/nation that the other guy is pure evil and your mortal enemy. Society in Pakistan is based on their haterade towards Indians. For many years children in Pakistan were taught that Indians are evil, their belief system is barbaric, and their existence means that Islam is in danger. That was the reason some of us saw posts on this forum talking about sati system in Hinduism or some others Pakistanis saying that Hindus are attacking Muslims in India, and then other Pakistanis talking about Modi, VHP and Bajrang Dal. The first step for creating a war involves propaganda within the population of the country that your enemy is evil. Pakistan has been doing this preparation very systematically for sometime.
Second stage to go to war involves finding a reason after the decision has been made to go to war. In this stage, one has to come up with a reason and then waits for the trigger to create the reason to go to war.
The third and final stage to go to war involves invoking the trigger, which will create a flash point for the war, and so the war begins. Mumabi was that trigger.
The reason why I am saying this is, because someone wrote on this form "don't be a war monger". You see, we are not creating a war. The war is being forced on us. To defend oneself is not "war mongering". Our willingness to live in peace and harmony should not become our weakness such that someone openly and deliberately attacks the population of our country. I do not hold any false sense of myth of nationalism hosting the flag. But when war is forced upon us, there is no way we can run away from it.
For a moment, just imagine, what would have happened if Mumbai attacks were done in China as "Beijing attack", or if Pakistani terrorists would have attacked Iran and they were "Tehran attack" or for that matter an attack on any country in Europe or say US. How will any other country China, Iran, UK, US, France, Germany, and score of other, how will these countries respond to the attacks like Mumbai attack? There is only one way to reply to such attacks. Respond swiftly and with full force. Personally, I believe that 30 days is too late to respond. I believe that response has to come before the ashes of the dead is still hot. Otherwise, justice hasn't served, because justice delayed is justice denied.
If the war begins, this will be my last post.
Adios
.
So, what exactly does the state and the country of Pakistan gain by starting a war with India?
In modern times, wars between nations are not started in days or weeks. Wars are not based on one event. There is a systematic three stage process to go to war and for a nation to convince the majority of the society/nation that the other guy is pure evil and your mortal enemy. Society in Pakistan is based on their haterade towards Indians. For many years children in Pakistan were taught that Indians are evil, their belief system is barbaric, and their existence means that Islam is in danger. That was the reason some of us saw posts on this forum talking about sati system in Hinduism or some others Pakistanis saying that Hindus are attacking Muslims in India, and then other Pakistanis talking about Modi, VHP and Bajrang Dal. The first step for creating a war involves propaganda within the population of the country that your enemy is evil. Pakistan has been doing this preparation very systematically for sometime.
Second stage to go to war involves finding a reason after the decision has been made to go to war. In this stage, one has to come up with a reason and then waits for the trigger to create the reason to go to war.
The third and final stage to go to war involves invoking the trigger, which will create a flash point for the war, and so the war begins. Mumabi was that trigger.
The reason why I am saying this is, because someone wrote on this form "don't be a war monger". You see, we are not creating a war. The war is being forced on us. To defend oneself is not "war mongering". Our willingness to live in peace and harmony should not become our weakness such that someone openly and deliberately attacks the population of our country. I do not hold any false sense of myth of nationalism hosting the flag. But when war is forced upon us, there is no way we can run away from it.
For a moment, just imagine, what would have happened if Mumbai attacks were done in China as "Beijing attack", or if Pakistani terrorists would have attacked Iran and they were "Tehran attack" or for that matter an attack on any country in Europe or say US. How will any other country China, Iran, UK, US, France, Germany, and score of other, how will these countries respond to the attacks like Mumbai attack? There is only one way to reply to such attacks. Respond swiftly and with full force. Personally, I believe that 30 days is too late to respond. I believe that response has to come before the ashes of the dead is still hot. Otherwise, justice hasn't served, because justice delayed is justice denied.
If the war begins, this will be my last post.
Adios
.
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willigetagc
08-05 08:40 AM
The said person should have been aware of what he or she was getting into. Blaming your hardship on other people and trying to get mileage out of it is hardly an honest way............would you agree?
I dont think your proposal is fair. PD belongs to the person whether he is EB2, 3 or 10.
In fact, if you think about it an EB3-to-EB2 convert would spend more time in the queue than a full EB2 and less than a full EB3.
But what you are proposing will make a 3-to-2 convert spend more time in the queue than a full EB3.
You know the GC queue is a dynamic one. You need to look at the total time spent in queue to determine whats fair.
I dont think your proposal is fair. PD belongs to the person whether he is EB2, 3 or 10.
In fact, if you think about it an EB3-to-EB2 convert would spend more time in the queue than a full EB2 and less than a full EB3.
But what you are proposing will make a 3-to-2 convert spend more time in the queue than a full EB3.
You know the GC queue is a dynamic one. You need to look at the total time spent in queue to determine whats fair.
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unitednations
08-08 04:26 PM
UN,
Glad to see you back in the forums!
Do you have any idea why attorneys strongly discourage their clients to travel after filing 485 but before receiving the receipt notices?
If you have a H/L visa it may not problem to re-enter US with your visa, but will it affect the 485 filing if you did not have the receipt notice when you traveled outside?
I had posted before. They don't know exactly when they are going to send out the case. They may have told you they sent it and then you go and they actually send it later and you were not in usa when uscis received it.
package gets returned due to missing signatures, initial evidence, etc. and they need you to be here to file it again.
Leaving after August 17th if you have a valid h or L visa you are safe even without the receipt notices.
Glad to see you back in the forums!
Do you have any idea why attorneys strongly discourage their clients to travel after filing 485 but before receiving the receipt notices?
If you have a H/L visa it may not problem to re-enter US with your visa, but will it affect the 485 filing if you did not have the receipt notice when you traveled outside?
I had posted before. They don't know exactly when they are going to send out the case. They may have told you they sent it and then you go and they actually send it later and you were not in usa when uscis received it.
package gets returned due to missing signatures, initial evidence, etc. and they need you to be here to file it again.
Leaving after August 17th if you have a valid h or L visa you are safe even without the receipt notices.
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Rolling_Flood
08-05 08:39 AM
What do you mean "i am eligible for EB2"?????
A JOB is what decides EB1/2/3, not your imagined eligibility !!
If the job that you do requires no more than an EB3, then how are you saying your employer did something wrong? Why should you get to port to EB2 based on your "imagined eligibility for EB2"? Please explain that to me.
Remember, the JOB REQUIREMENTS should be there, it does not matter if you are a PhD from MIT...........
Get Lost 'Rolling_Flood' - you dont understand anything, that's why you started a post like this.
I'm eligible for EB2 but my employer forcibly filed me in Eb3 category. Now i'm thinking of porting from Eb3 to Eb2 after my 140 gets approved ( By filing a new PERM labor and new 140 of course )
What's wrong you see in my intentions ? Whats wrong you see in the law ?
A JOB is what decides EB1/2/3, not your imagined eligibility !!
If the job that you do requires no more than an EB3, then how are you saying your employer did something wrong? Why should you get to port to EB2 based on your "imagined eligibility for EB2"? Please explain that to me.
Remember, the JOB REQUIREMENTS should be there, it does not matter if you are a PhD from MIT...........
Get Lost 'Rolling_Flood' - you dont understand anything, that's why you started a post like this.
I'm eligible for EB2 but my employer forcibly filed me in Eb3 category. Now i'm thinking of porting from Eb3 to Eb2 after my 140 gets approved ( By filing a new PERM labor and new 140 of course )
What's wrong you see in my intentions ? Whats wrong you see in the law ?
more...
jonty_11
08-07 03:35 PM
UN,
I understand u had a topsy turvy ride to GC urself...and ur story is posted somewhere....Can you or someone who may know point me to it...ur GC interview and what not?
I understand u had a topsy turvy ride to GC urself...and ur story is posted somewhere....Can you or someone who may know point me to it...ur GC interview and what not?
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diptam
08-05 11:13 AM
By now , we know very well who you are !! Because you ran away when peoples asked you real questions.
To answer your question same company can have EB2 as well as EB3 jobs and same person can be eligible for both Eb2 and Eb3 - that's why there is nothing illegitimate in porting/interfiling. Now a good % of folks port/interfile from a different company and according to your post that is not lawsuit material - right ?
Remember i'm planning to port to EB2 from Eb3 using a different company - according to you that's allowed ! Remember still EB2 quota will get exhausted .....
As per as your foul language complaint - please tune onto Talk radio and catch up with Rush Limbaugh or Michael Savage - I'm sure your benchmark about 'Foul Language' will quickly change Sir !
Good bye !
Show me where it says in the law that a "person's eligibility decides EB1/2/3"? Your job demands an EB3 and no higher, thus your company filed an EB3.
If you think you should be EB2 instead, then find another job or another company. What do you not understand?
And please refrain from using foul language, this is my first, and final, request to you, sir. I am not anti-immigrant, just anti-porting and anti-interfiling.
To answer your question same company can have EB2 as well as EB3 jobs and same person can be eligible for both Eb2 and Eb3 - that's why there is nothing illegitimate in porting/interfiling. Now a good % of folks port/interfile from a different company and according to your post that is not lawsuit material - right ?
Remember i'm planning to port to EB2 from Eb3 using a different company - according to you that's allowed ! Remember still EB2 quota will get exhausted .....
As per as your foul language complaint - please tune onto Talk radio and catch up with Rush Limbaugh or Michael Savage - I'm sure your benchmark about 'Foul Language' will quickly change Sir !
Good bye !
Show me where it says in the law that a "person's eligibility decides EB1/2/3"? Your job demands an EB3 and no higher, thus your company filed an EB3.
If you think you should be EB2 instead, then find another job or another company. What do you not understand?
And please refrain from using foul language, this is my first, and final, request to you, sir. I am not anti-immigrant, just anti-porting and anti-interfiling.
more...
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B+ve
06-09 03:01 PM
This is for sharing and suggesting your views, ( :)who are not opposing for buying a home now or in the near future and those who are staying at Bay Area, CA or similar places in US) where the medium home price is still looks like quite unaffordable :
for example, in Bay Area, CA - places which has good school districts and neighbourhoods like Cupertino, Fremont, Redwood shores etc., (please add other good places also...) - the medium home price of a new independant home (anywhere from 1500 to 3000 sq.feet) will be atleast in the price range of $700000 - 2+ Millions.
Other options are :
1) Moving to the outskirts, around 40 or 50+ miles - places like San Ramon, Gilroy etc. (remember commute will be too hectic...). In these places also, the above mentioned homes will cost $450000 and up.
2) Go with an old condo/town home (in Bay Area, usually an old house is 25+ years YOUNG!!!) and after 5+ years look for an old independant home and after another 5+ years, move to your dream home. (I don't know whether we, most of us who are in the GC mess might be in 35 and above age group, have any juice left to do so rather than try to settle down within a couple of years. And one more thing, are these places really worth for spending this much for houses? (I know its a personal choice and lot of factors come in to play...)
3) Move to a more affordable place so that even if there are some hick ups in career or other ups and downs in life, it won't affect the mortage payment (considering ones personal interests and other factors like employment opportunities, climate, diversed community etc etc.) - places like Dallas, Austin, Phoenix, Atlanta etc. (feel free to add other cities also).
Please comment/share your thoughts (I am agreeing there may be slight variation in above price ranges) and really sorry if we discussed this in any other threads....
Thanks,
B+ve
for example, in Bay Area, CA - places which has good school districts and neighbourhoods like Cupertino, Fremont, Redwood shores etc., (please add other good places also...) - the medium home price of a new independant home (anywhere from 1500 to 3000 sq.feet) will be atleast in the price range of $700000 - 2+ Millions.
Other options are :
1) Moving to the outskirts, around 40 or 50+ miles - places like San Ramon, Gilroy etc. (remember commute will be too hectic...). In these places also, the above mentioned homes will cost $450000 and up.
2) Go with an old condo/town home (in Bay Area, usually an old house is 25+ years YOUNG!!!) and after 5+ years look for an old independant home and after another 5+ years, move to your dream home. (I don't know whether we, most of us who are in the GC mess might be in 35 and above age group, have any juice left to do so rather than try to settle down within a couple of years. And one more thing, are these places really worth for spending this much for houses? (I know its a personal choice and lot of factors come in to play...)
3) Move to a more affordable place so that even if there are some hick ups in career or other ups and downs in life, it won't affect the mortage payment (considering ones personal interests and other factors like employment opportunities, climate, diversed community etc etc.) - places like Dallas, Austin, Phoenix, Atlanta etc. (feel free to add other cities also).
Please comment/share your thoughts (I am agreeing there may be slight variation in above price ranges) and really sorry if we discussed this in any other threads....
Thanks,
B+ve
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gchopes
06-06 11:06 PM
Buying a house at or around the same rent and availing the 8K credit doesn't seem like a bad deal to me. GC or no..most have EAD (at least Jul 07 filers)..so if we lose our job we would be in a similar situation as a GC holder..having a form of work permit so employer doesnt have to sponsor us.
Uncle Sam is never going to give u 8K in the next 10 years that we will be waiting for getting our GC. So buy now before the rates get back to 7-8%.
Uncle Sam is never going to give u 8K in the next 10 years that we will be waiting for getting our GC. So buy now before the rates get back to 7-8%.
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vbkris77
03-31 07:42 PM
I am not convinced with the whole systematic preadjudication logic at all. I think it has to do with the mistakenly released memo by USCIS and the criteria which is listed in it. Companies meeting the criteria listed in that memo's H1s/I140s are being looked at and I485 app in the same file. There is no trend in the posts on this site by people who received RFEs to suggest systematic preadjudication, they are all over the place. EB2, EB3 - priority date-years ranging from 2001 to 2006, received RFEs.
May be their receipt dates are close.. Remember, CIS can't sort the application by PD. They can process in FIFO of RD.
May be their receipt dates are close.. Remember, CIS can't sort the application by PD. They can process in FIFO of RD.
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h1techSlave
04-07 04:43 PM
My arguments apply to people with a single home to worry about. People who want to move from apartment into a house of their own.
Managing a rental property (when you have more than one house, you have to rent the other houses), is a totally different ball game. I have no personal experience with that field, but am actively considering it. It doesn't cost you much money to think/study about it, right?:)
he is /was talking about buying 2-3 houses. BTW that was then (2001) and this is now ..between then and now ..millions and millions of houses have been built and given to people with zero / no / absolutely no credit / downpayment. BTW I buy stocks when it is low and sell when it is high ..buying 2 houses or even 1 house in place like california ..is a big big thing (since no lender will give you loan unless you put in atleast 10 % ( 15 % - if you want to avoid PMI) ..just for argument sake ..say even if a person buy 3 adjacent (if u are lucky) houses (not townhomes) ..do you then buy 3 mowers or move them from 1 yard to another ? 3 bills ..prop / hoa / utilities ..it is a nightmare to even think about it ..and more so when you read articles from experts and economists who say prices will fall 15% more ..best is to have diversified portfolio with minimum expense (3 homes is big big expense)
Managing a rental property (when you have more than one house, you have to rent the other houses), is a totally different ball game. I have no personal experience with that field, but am actively considering it. It doesn't cost you much money to think/study about it, right?:)
he is /was talking about buying 2-3 houses. BTW that was then (2001) and this is now ..between then and now ..millions and millions of houses have been built and given to people with zero / no / absolutely no credit / downpayment. BTW I buy stocks when it is low and sell when it is high ..buying 2 houses or even 1 house in place like california ..is a big big thing (since no lender will give you loan unless you put in atleast 10 % ( 15 % - if you want to avoid PMI) ..just for argument sake ..say even if a person buy 3 adjacent (if u are lucky) houses (not townhomes) ..do you then buy 3 mowers or move them from 1 yard to another ? 3 bills ..prop / hoa / utilities ..it is a nightmare to even think about it ..and more so when you read articles from experts and economists who say prices will fall 15% more ..best is to have diversified portfolio with minimum expense (3 homes is big big expense)
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mariner5555
04-09 11:29 PM
we may be thinking that the points below are a worst case scenario but according to the famous economist Roubini - this is a likely one.
on the lighter side - if this really happens then even the mighty GC would finally become just a card.:rolleyes:
--------
1. We are experiencing the worst US housing recession since the Great Depression and this housing recession is nowhere near bottoming out. Housing starts have fallen 50% but new home sales have fallen more than 60% thus creating a glut of new –and existing homes- that is pushing home prices sharply down, already 10% so far and another 10% in 2008. With home prices down 10% $2 trillion of home wealth is already wiped out and 6 million households have negative equity and may walk away from their homes; with home prices falling by year end 20% $4 trillion of housing wealth will be destroyed and 16 million households will be in negative wealth territory. And by 2010 the cumulative fall in home prices will be close to 30% with $6 trillion of home equity destroyed and 21 million households (40% of the 51 million having a mortgage being underwater). Potential credit losses from households walking away from their homes (“jingle mail”) could be $1 trillion or more, thus wiping out most of the capital of the US financial system.
2. In 2001 it was the corporate sector (10% of GDP or real investment) to be in trouble. Today it is the household sector (70% of GDP in private consumption) to be in trouble. The US consumer is shopped out, saving-less, debt burdened (debt being 136% of income) and buffeted by many negative shocks: falling home prices, falling home equity withdrawal, falling stock prices, rising debt servicing ratios, credit crunch in mortgages and – increasingly – consumer credit, rising oil and gasoline prices, falling employment (now for three months in a row), rising inflation eroding real incomes, sluggish real income growth.
3. The US is experiencing its most severe financial crisis since the Great Depression. This is not just a subprime meltdown. Losses are spreading to near prime and prime mortgages; they are spreading to commercial real estate mortgages. They will spread to unsecured consumer credit in a recession (credit cards, auto loans, student loans). The losses are now increasing in the leveraged loans that financed reckless and excessively debt-burdened LBOs; they are spreading to muni bonds as default rates among municipalities will rise in a housing-led recession; they are spreading to industrial and commercial loans. And they will soon spread to corporate bonds – and thus to the CDS market – as default rates – close to 0% in 2006-2007 will spike above 10% during a recession. I estimate that financial losses outside residential mortgages (and related RMBS and CDOs) will be at least $700 billion (an estimate close to a similar one presented by Goldman Sachs). Thus, total financial losses – including possibly a $1 trillion in mortgages and related securitized products - could be as high as $1.7 trillion.
on the lighter side - if this really happens then even the mighty GC would finally become just a card.:rolleyes:
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1. We are experiencing the worst US housing recession since the Great Depression and this housing recession is nowhere near bottoming out. Housing starts have fallen 50% but new home sales have fallen more than 60% thus creating a glut of new –and existing homes- that is pushing home prices sharply down, already 10% so far and another 10% in 2008. With home prices down 10% $2 trillion of home wealth is already wiped out and 6 million households have negative equity and may walk away from their homes; with home prices falling by year end 20% $4 trillion of housing wealth will be destroyed and 16 million households will be in negative wealth territory. And by 2010 the cumulative fall in home prices will be close to 30% with $6 trillion of home equity destroyed and 21 million households (40% of the 51 million having a mortgage being underwater). Potential credit losses from households walking away from their homes (“jingle mail”) could be $1 trillion or more, thus wiping out most of the capital of the US financial system.
2. In 2001 it was the corporate sector (10% of GDP or real investment) to be in trouble. Today it is the household sector (70% of GDP in private consumption) to be in trouble. The US consumer is shopped out, saving-less, debt burdened (debt being 136% of income) and buffeted by many negative shocks: falling home prices, falling home equity withdrawal, falling stock prices, rising debt servicing ratios, credit crunch in mortgages and – increasingly – consumer credit, rising oil and gasoline prices, falling employment (now for three months in a row), rising inflation eroding real incomes, sluggish real income growth.
3. The US is experiencing its most severe financial crisis since the Great Depression. This is not just a subprime meltdown. Losses are spreading to near prime and prime mortgages; they are spreading to commercial real estate mortgages. They will spread to unsecured consumer credit in a recession (credit cards, auto loans, student loans). The losses are now increasing in the leveraged loans that financed reckless and excessively debt-burdened LBOs; they are spreading to muni bonds as default rates among municipalities will rise in a housing-led recession; they are spreading to industrial and commercial loans. And they will soon spread to corporate bonds – and thus to the CDS market – as default rates – close to 0% in 2006-2007 will spike above 10% during a recession. I estimate that financial losses outside residential mortgages (and related RMBS and CDOs) will be at least $700 billion (an estimate close to a similar one presented by Goldman Sachs). Thus, total financial losses – including possibly a $1 trillion in mortgages and related securitized products - could be as high as $1.7 trillion.
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Madhuri
05-16 11:08 AM
Very well said Sanju. You put everything in right perspective.
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NKR
08-05 08:33 AM
The said person should have been aware of what he or she was getting into. Blaming your hardship on other people and trying to get mileage out of it is hardly an honest way............would you agree?
So an employer cheating him into applying in EB3 is an honest way?
So an employer cheating him into applying in EB3 is an honest way?
H1B-GC
02-21 03:41 PM
An Avg. American gives an Damn to this 1/2 ton Polar Bear. When the Former CNN President Kicked this Polar Bear out of CNN in 2000, he Started advising the Fortune 100 Companies to Outsource Jobs to cut Costs in his new Job Profile and now he calls them Benedict Arnold.What a sick Mind he has!!
bugmenot
09-27 07:05 PM
The immigration issue is controlled by the members of the senate and house, the president has little control over it, Bush has been pro immigration but that wasn't enough for him to get what he wanted, he couldn't even increase the h1b's that he kept publicly talking about.
I doubt a democratic president would do any better.
I doubt a democratic president would do any better.
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