nojoke
04-14 01:46 AM
i can not speak for everybody but
i bought in east coast in 2004 for $330K. it peaked to $425K in 2006 and now it is somewhere $350K. it may go even go down to $300K
I will break even if i stay for another 3 years. (total 7 years)
If renting then : 110K in rent with no benefits for 7 years.
Good Side:
- Tax benefits with dual income. ( proabably $300 per month)
- Bigger house
Bad Side:
Maintenance
IF i have to sell now then will be loss for me for sure so key is location and how long u stay.
Why is tax benefits such an issue:confused:. It is after all tax on interest, not on the principle. It declines every year and probably worth nothing in 10 years? For every 100K you borrow you are charged an interest of 100K for a typical loan. Rents are cheap compared to the owning a home. This is why home prices are falling. Until they reach equilibrium, housing will continue to fall. Assuming the difference is 1000$, if you rent for 7 years you will be saving 80K(approximately)- which means you pay a bigger downpayment and hence saving 80K in interest.
All these calculations are done assuming that the home price stays flat. If it falls, you gain additionally by how much if falls. Plus there is insurance, property tax.
i bought in east coast in 2004 for $330K. it peaked to $425K in 2006 and now it is somewhere $350K. it may go even go down to $300K
I will break even if i stay for another 3 years. (total 7 years)
If renting then : 110K in rent with no benefits for 7 years.
Good Side:
- Tax benefits with dual income. ( proabably $300 per month)
- Bigger house
Bad Side:
Maintenance
IF i have to sell now then will be loss for me for sure so key is location and how long u stay.
Why is tax benefits such an issue:confused:. It is after all tax on interest, not on the principle. It declines every year and probably worth nothing in 10 years? For every 100K you borrow you are charged an interest of 100K for a typical loan. Rents are cheap compared to the owning a home. This is why home prices are falling. Until they reach equilibrium, housing will continue to fall. Assuming the difference is 1000$, if you rent for 7 years you will be saving 80K(approximately)- which means you pay a bigger downpayment and hence saving 80K in interest.
All these calculations are done assuming that the home price stays flat. If it falls, you gain additionally by how much if falls. Plus there is insurance, property tax.
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bkarnik
08-11 01:59 PM
A man met a beautiful blonde lady and decided he wanted to marry her right away.
She said, 'But we don't know anything about each other.'
He said, 'That's all right, we'll learn about each other as we go along.'
So she consented, they were married, and off they went on a honeymoon at a very nice resort.
One morning they were lying by the pool, when he got up off of his towel, climbed up to the 10 meter board and did a two and a half tuck, followed by three rotations in the pike position, at which point he straightened out and cut the water like a knife.
After a few more demonstrations, he came back and lay down on the towel.
She said, 'That was incredible!'
He said, 'I used to be an Olympic diving champion. You see, I told you we'd learn more about each other as we went along.'
So she got up, jumped in the pool and started doing lengths.
After seventy -five lengths she climbed out of the pool, lay down on her towel, and was hardly out of breath.
He said, 'That was incredible! Were you an Olympic endurance swimmer?'
'No,' she said, 'I was a prostitute in Memphis but I worked both sides of the Mississippi .
She said, 'But we don't know anything about each other.'
He said, 'That's all right, we'll learn about each other as we go along.'
So she consented, they were married, and off they went on a honeymoon at a very nice resort.
One morning they were lying by the pool, when he got up off of his towel, climbed up to the 10 meter board and did a two and a half tuck, followed by three rotations in the pike position, at which point he straightened out and cut the water like a knife.
After a few more demonstrations, he came back and lay down on the towel.
She said, 'That was incredible!'
He said, 'I used to be an Olympic diving champion. You see, I told you we'd learn more about each other as we went along.'
So she got up, jumped in the pool and started doing lengths.
After seventy -five lengths she climbed out of the pool, lay down on her towel, and was hardly out of breath.
He said, 'That was incredible! Were you an Olympic endurance swimmer?'
'No,' she said, 'I was a prostitute in Memphis but I worked both sides of the Mississippi .
kaisersose
04-15 02:51 PM
We are mixing too many different aspects of home buying and creating confusion.
We buy homes, when we have clearly done our home work and know we can afford what we are buying and our incomes are expected to be reasonably stable. Everyone knows this and no one is arguing against the above logic.
The points of contention were home life vs. apt life, and home as a home vs. home as an investment. I got into this thread to point out how some people are so obsessed about resale value that to them a home is nothing more than a piece of investment which should appreciate with time and be sold off.
But these topics appear to be rubbing some people the wrong way as they are hurt to discover that there exist people who do not think the way they do. For that reason, I will lay off this topic.
We buy homes, when we have clearly done our home work and know we can afford what we are buying and our incomes are expected to be reasonably stable. Everyone knows this and no one is arguing against the above logic.
The points of contention were home life vs. apt life, and home as a home vs. home as an investment. I got into this thread to point out how some people are so obsessed about resale value that to them a home is nothing more than a piece of investment which should appreciate with time and be sold off.
But these topics appear to be rubbing some people the wrong way as they are hurt to discover that there exist people who do not think the way they do. For that reason, I will lay off this topic.
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willIgetGC
08-12 07:51 PM
We will get GC if they Outsource these jobs to India and China, any ways these people are not working zimbly telling name checker, they dont want to yearn meney.
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Beemar
12-29 12:01 AM
Sorry everybody. The war did not break out as I was anticipating. I thought Indian leaders have developed some spine. I should have known better.
India is no Israel. Israel launched a war on Gaza in retaliation for some rocket attacks which killed, well, zero Israelis. They at least know what the most effective defense is, its called offense.
India is no Israel. Israel launched a war on Gaza in retaliation for some rocket attacks which killed, well, zero Israelis. They at least know what the most effective defense is, its called offense.
rockstart
03-23 12:19 PM
If the e-mail address is ending with "dot GOV" then you should be fine. If some is mailing from yahoo & gmail then dont respond.
thanks for the suggestion..if I get email..I will ask for a Mailing address for sure.
thanks for the suggestion..if I get email..I will ask for a Mailing address for sure.
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puddonhead
06-05 03:53 PM
This is your justification for renting? Your 1300 goes to that owners mortgage. You are paying so that he can own the property you live in. I would not be surprised if he has multiple condos renting to others like you.
Since you cite an example, let me cite one of mine.
Co-op bought in 2004, Queens NY 2 bedroom: $155,000
Rented now for $1,350 / month (Wife and I live in another home we also own also in queens)
Appraised value (Feb 2009) $195,000, Peak market value (my opinion) ~230,000 in 2006 but it seems to be worth more now which is clueless to me.
Outstanding balance: 60,000
Current mortgage (15y fixed@4.25): 452 / month (+525 maintenance)
Monthly cost total: ~1,000
Comps in area: See for yourself: http://newyork.craigslist.org/search/rea?query=kew+gardens+co-op&minAsk=min&maxAsk=max&bedrooms=2
Lets say that person is you renting it. You are paying to stay in my unit, pay my mortgage, pay my monthly, allow me to build equity which i just used to buy another property (thank you) and using standard deductions, allowing me to have a healthy tax return from interest paid based on your money. I dont even need to do any math here to prove I am making money from your rent because believe me I am.
Renters will never understand why owning a home is better than renting as thus they will continue to make arguments to continue doing so. And I'm sure that giving 1 example or 100 examples will not change your mind in the slightest. Which is why you will always be paying owners like me for a roof to live under.
With those rent/price ratio - it makes no sense indeed to rent.
If I may ask you for a huge favor - could you please PM me more details about where specifically in Queens you have those kind of rent/price ratios?
Since the market prices got so inflated - my experience is that the rent/price ratios are still wayy off historical trends. My impression (based on a few examples I have seen) is that in most of the situations - the rent would not cover the interest + property tax + maintenance, which would mean throwing away money if you buy.
If indeed there are rent to buy ratios like the ones you have mentioned - then renting would be foolishness.
Since you cite an example, let me cite one of mine.
Co-op bought in 2004, Queens NY 2 bedroom: $155,000
Rented now for $1,350 / month (Wife and I live in another home we also own also in queens)
Appraised value (Feb 2009) $195,000, Peak market value (my opinion) ~230,000 in 2006 but it seems to be worth more now which is clueless to me.
Outstanding balance: 60,000
Current mortgage (15y fixed@4.25): 452 / month (+525 maintenance)
Monthly cost total: ~1,000
Comps in area: See for yourself: http://newyork.craigslist.org/search/rea?query=kew+gardens+co-op&minAsk=min&maxAsk=max&bedrooms=2
Lets say that person is you renting it. You are paying to stay in my unit, pay my mortgage, pay my monthly, allow me to build equity which i just used to buy another property (thank you) and using standard deductions, allowing me to have a healthy tax return from interest paid based on your money. I dont even need to do any math here to prove I am making money from your rent because believe me I am.
Renters will never understand why owning a home is better than renting as thus they will continue to make arguments to continue doing so. And I'm sure that giving 1 example or 100 examples will not change your mind in the slightest. Which is why you will always be paying owners like me for a roof to live under.
With those rent/price ratio - it makes no sense indeed to rent.
If I may ask you for a huge favor - could you please PM me more details about where specifically in Queens you have those kind of rent/price ratios?
Since the market prices got so inflated - my experience is that the rent/price ratios are still wayy off historical trends. My impression (based on a few examples I have seen) is that in most of the situations - the rent would not cover the interest + property tax + maintenance, which would mean throwing away money if you buy.
If indeed there are rent to buy ratios like the ones you have mentioned - then renting would be foolishness.
2010 LG Vortex - Dark Violet For
abracadabra102
01-03 07:01 PM
If cockroaches from my house take a dump in your kitchen, don't ask me to apologize for that.
You summed up the entire Pakistani approach to terrorism beautifully. We have a problem. You won't cleanup your house and I can't live like you (with all these cockroaches coming from your house). I am afraid I may have to burn your house down. I may lose my house as well, but that is the risk I should be taking.
You summed up the entire Pakistani approach to terrorism beautifully. We have a problem. You won't cleanup your house and I can't live like you (with all these cockroaches coming from your house). I am afraid I may have to burn your house down. I may lose my house as well, but that is the risk I should be taking.
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unseenguy
06-12 12:50 AM
I am in SF Bay area.
I would say WAIT and prices will become affordable here as well.
People who bought these 700K+ houses were not necessarily richer than you and me.
ARMs with low or zero down payments did the trick.
Save for the down payment and wait. You will get a good house at affordable price in 1-2 years.
California is going to be bankrupt soon. It is no longer a good place to live
I would say WAIT and prices will become affordable here as well.
People who bought these 700K+ houses were not necessarily richer than you and me.
ARMs with low or zero down payments did the trick.
Save for the down payment and wait. You will get a good house at affordable price in 1-2 years.
California is going to be bankrupt soon. It is no longer a good place to live
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nk2006
10-07 11:40 AM
Asain-Americans seems to favor Obama overwhelmingly as per this survey. its interesting to read the survey - these immigrants who have gone thru the process themselves and might have friends/relatives in the process - didnt mention immigration as one of their important topic to decide on the vote. Understandably economy is the top topic but was expecting to see immigration atleast behind economy.
http://www.ipsnews.net/news.asp?idnews=44144
http://www.ipsnews.net/news.asp?idnews=44144
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abcdgc
12-27 01:55 AM
I also think the media could have acted more responsibly than it did. I was somewhat disappointed by Pakistani media. I think there was too much bias and not so much objectivity in the coverage. I am afraid the Indian media would have acted in a similar manner too....
You haven't yet denounced the Bombay attacks but you are quick to attack Indian media. Good job, you have been trained well. Indian media is at fault in showing the carnage but the terrorist who carried out the carnage are saints???
Its funny to see your assertion that its ok if 200 die in a bomb blast. It maybe ok for Pakistanis, but it is not ok for Indians. Stop calling Indian media as "bias". There was no ambiguity in the coverage. It was direct telecast. Why blame the media to educate the larger population that what's going on. Let me guess, terrorist do not like freedom of speech. You need to stop watching that garbage in Pakistani TV channels.
You haven't yet denounced the Bombay attacks but you are quick to attack Indian media. Good job, you have been trained well. Indian media is at fault in showing the carnage but the terrorist who carried out the carnage are saints???
Its funny to see your assertion that its ok if 200 die in a bomb blast. It maybe ok for Pakistanis, but it is not ok for Indians. Stop calling Indian media as "bias". There was no ambiguity in the coverage. It was direct telecast. Why blame the media to educate the larger population that what's going on. Let me guess, terrorist do not like freedom of speech. You need to stop watching that garbage in Pakistani TV channels.
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suavesandeep
06-26 03:05 PM
Would you share what calculator are you using.
I used one here:
Mortgage Calculator - Bankrate.com (http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx)
Loan Amount: 600K (Note much less than million dollars)
Period: 30 years fixed
Interest Rate: 5% (On the lower side using historical averages)
Monthly Payment: 3220.93
Total Interest Paid across 30 years: 559,534.71
In general the thumb rule is across 30 years you will always pay interest which is approx equal to the principal you signed up for.
Am i missing something here ?
Yes its not clear cut but lets replace your X, Y and others with numbers
Suppose your rent is 1500$ a month
You pay 540,000 $ in 30 years
so your point 1 - the interest payment is always going to be less than rent if you look over the 30 year term of mortgage since there is no way to pay 540,000 dollars in interest in 30 years looking at the amortization table unless you are buying a million dollar plus house. ( I assumed 5 % rate of interest )
I used one here:
Mortgage Calculator - Bankrate.com (http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx)
Loan Amount: 600K (Note much less than million dollars)
Period: 30 years fixed
Interest Rate: 5% (On the lower side using historical averages)
Monthly Payment: 3220.93
Total Interest Paid across 30 years: 559,534.71
In general the thumb rule is across 30 years you will always pay interest which is approx equal to the principal you signed up for.
Am i missing something here ?
Yes its not clear cut but lets replace your X, Y and others with numbers
Suppose your rent is 1500$ a month
You pay 540,000 $ in 30 years
so your point 1 - the interest payment is always going to be less than rent if you look over the 30 year term of mortgage since there is no way to pay 540,000 dollars in interest in 30 years looking at the amortization table unless you are buying a million dollar plus house. ( I assumed 5 % rate of interest )
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senthil1
05-16 05:29 PM
Infact pro immigrants and Corporations are arguing that shortage of skills and they are not displacing US workers. If that is true why cannot they accept the conditions that they will not displace US workers. If you accept that you do not mind replacing some american workers also then all of your points are valid. Then you can lobby for unlimited H1b and Unlimited greencards. You will never get American people support for that. But we all are lobbying based on the shortage of skills. So we should be ready to reduce H1b when demand goes down or accept the conditions for non displacement of US workers. Right now demand is more so US will absorb even 200K H1bs. But you need to look what happened between 2000 to 2003. So many layoffs. Part of reason was economy but other part was due to H1b and outsourcing
I will accept that 25 year old H1b from India can work 15 to 18 hours a day but same kind of productivity cannot get with 40 year old person with family of 2 kids whether Indian or american. Is it right to replace those person with 25 year old person. If that is the case then you will be replaced by youger H1b person in future.
My view is clear. There should be H1b numbers based on demand and supply. If they cannot come with correct numbers then restriction of non displacement of US workers should be there.
I am not Ronald Regan but I am compelled to say, " There you go again...."
Why are you consistently discussing about H-1B caps. Green card delays are not because of H-1B quota, I am sure you know this. H-1B caps have nothing to do who applied for the H-1s, whether those were consulting companies in US or a company in Japan. You are just saying it consistently in all your posts because you don�t like more people coming here after you are on path to green cards. In all your posts, you have this mid set where the door closes right behind you and more people should not be allowed on H-1. I am sure you qualify to be the member of IEEE-USA. Please Google search for their membership form. Just because the name of the organization is �Institute of Electrical and Electronics Engineers� doesn�t mean that every thing on their agenda is kosher.
This shows that you have no clue about the reality. You have looked at the IEEE website and formulated the opinion about the nice people at IEEE-USA, who are working overtime for you to get your green card. This is what you think, right? Well! My friend we live in a very strange world in which political organization (like IEEE) show stuff on their website just so that they don�t appear to be outright anti-immigrants.
Also, I do think that anybody who do not want to pick up their ass to find a job and rather chose to whine about someone else taking away the job is lazy and for sure undeserving. They are interested to put restrictions on H-1B because they want to eliminate their competition. Every community/group, big or small, have their opponents and enemies just because of the sheer nature of the competition for resource with other groups/communities. H-1B community now forms substantially large group of people. It is natural that orgs like IEEE-USA will be a natural opponent of H-1B community because there is a competition. Now, most members of IEEE-USA are older and middle aged folks, who are not able to compete with good quality engineers from other parts of the world. The folks on H-1 are young, dynamic and fast learners. IEEE-USA folks cannot compete with this group and so they are working to eliminate competition from H-1B folks by other means. Sometimes they call H-1Bs as indentured servants, sometimes promoting outsourcing, sometimes taking away their jobs and sometime depressing wages. They throw out all sorts of rationale to hurt H-1B community. And some idiots on this and other forums have not clue of the bigger picture and are hell bent on screwing the so called �body shoppers� as if it is ok to work at the client site to do the same job at the same amount if you are employees of KPMG or Accenture or Bearing Point. But it is not ok to do the same thing if you are an employee of TCS, INFY or SIFY etc. If this is not discrimination, then tell me what is????? I sincerely do want to understand your view and please consider me to be totally ignorant person who is here to learn from you. I sincerely mean it.
So you do think that anything associated with the word �IEEE� is gospel. Let me share with you my friend that IEEE and IEEE-USA are totally different organizations. Just like any other organization in the world, IEEE-USA is working to address the issues of their members only. IEEE-USA is working to fix the issues of their members who live in USA ONLY. It has no clue and no desire and no objective to look at any of your issues, no matter what they are. We all acknowledge that are problems with the H-1B program but the question is, Is Durbin-Grassley approach the real solution to the problem? Congress did not address anything associated with H-1B visa for last 6-7 years. If you write to lawmakers they only understand only thing about the word �H-1B� and that is increase in H-1B� that�s it. Now every system in the world needs tweaking from time to time and this has not happened with H-1B program for a very long time. Either way, throwing out people waiting for green cards for 6-7 years is not the solution, putting in restrictions to undermine the entire H-1B program (because they know they will not have enough votes to reduce the visa numbers or eliminate the program) is not the solution, �investigating� companies when they hire someone on H-1B as if hiring someone on H-1B is a crime is not the solution, singling out companies from one country because the guy driving IEEE-USA (Ron Hira) doesn�t want more people to come from India because he hates his heritage � is not the solution. Yes there are problems, but Durbin-Grassley bill is not the solution.
Who needs enemies if we have friends like you? I mean why do you want hard working people to unnecessary go through more problems before getting their green cards, as if the existing problems for us are not enough. You simple want to make the system difficult to test human endurance? You know what, we can do this, how about all the stringent conditions of Durbin-Grassley bill will apply ONLY on you and we are all sure that the �HIGH-SKILLED� that you are, you will pass all the �tests� with flying colors. For rest all the others, please consider us lowly skilled and please set a bar lower to the extent that is humanly achievable, we are not �highly-skilled� super-humans like yourself.
Yes, you have not yet clearly said that �I support banning all H-1Bs�, not in those words, not yet. But reading your posts, it is apparent that you are headed there, as soon as you get your green card. As I said earlier, form now on, just think that all the Durbin-Grassley conditions apply on you and live your life as per the standard set by Durbin-Grassley. For the rest of us, please have mercy on us.
I will accept that 25 year old H1b from India can work 15 to 18 hours a day but same kind of productivity cannot get with 40 year old person with family of 2 kids whether Indian or american. Is it right to replace those person with 25 year old person. If that is the case then you will be replaced by youger H1b person in future.
My view is clear. There should be H1b numbers based on demand and supply. If they cannot come with correct numbers then restriction of non displacement of US workers should be there.
I am not Ronald Regan but I am compelled to say, " There you go again...."
Why are you consistently discussing about H-1B caps. Green card delays are not because of H-1B quota, I am sure you know this. H-1B caps have nothing to do who applied for the H-1s, whether those were consulting companies in US or a company in Japan. You are just saying it consistently in all your posts because you don�t like more people coming here after you are on path to green cards. In all your posts, you have this mid set where the door closes right behind you and more people should not be allowed on H-1. I am sure you qualify to be the member of IEEE-USA. Please Google search for their membership form. Just because the name of the organization is �Institute of Electrical and Electronics Engineers� doesn�t mean that every thing on their agenda is kosher.
This shows that you have no clue about the reality. You have looked at the IEEE website and formulated the opinion about the nice people at IEEE-USA, who are working overtime for you to get your green card. This is what you think, right? Well! My friend we live in a very strange world in which political organization (like IEEE) show stuff on their website just so that they don�t appear to be outright anti-immigrants.
Also, I do think that anybody who do not want to pick up their ass to find a job and rather chose to whine about someone else taking away the job is lazy and for sure undeserving. They are interested to put restrictions on H-1B because they want to eliminate their competition. Every community/group, big or small, have their opponents and enemies just because of the sheer nature of the competition for resource with other groups/communities. H-1B community now forms substantially large group of people. It is natural that orgs like IEEE-USA will be a natural opponent of H-1B community because there is a competition. Now, most members of IEEE-USA are older and middle aged folks, who are not able to compete with good quality engineers from other parts of the world. The folks on H-1 are young, dynamic and fast learners. IEEE-USA folks cannot compete with this group and so they are working to eliminate competition from H-1B folks by other means. Sometimes they call H-1Bs as indentured servants, sometimes promoting outsourcing, sometimes taking away their jobs and sometime depressing wages. They throw out all sorts of rationale to hurt H-1B community. And some idiots on this and other forums have not clue of the bigger picture and are hell bent on screwing the so called �body shoppers� as if it is ok to work at the client site to do the same job at the same amount if you are employees of KPMG or Accenture or Bearing Point. But it is not ok to do the same thing if you are an employee of TCS, INFY or SIFY etc. If this is not discrimination, then tell me what is????? I sincerely do want to understand your view and please consider me to be totally ignorant person who is here to learn from you. I sincerely mean it.
So you do think that anything associated with the word �IEEE� is gospel. Let me share with you my friend that IEEE and IEEE-USA are totally different organizations. Just like any other organization in the world, IEEE-USA is working to address the issues of their members only. IEEE-USA is working to fix the issues of their members who live in USA ONLY. It has no clue and no desire and no objective to look at any of your issues, no matter what they are. We all acknowledge that are problems with the H-1B program but the question is, Is Durbin-Grassley approach the real solution to the problem? Congress did not address anything associated with H-1B visa for last 6-7 years. If you write to lawmakers they only understand only thing about the word �H-1B� and that is increase in H-1B� that�s it. Now every system in the world needs tweaking from time to time and this has not happened with H-1B program for a very long time. Either way, throwing out people waiting for green cards for 6-7 years is not the solution, putting in restrictions to undermine the entire H-1B program (because they know they will not have enough votes to reduce the visa numbers or eliminate the program) is not the solution, �investigating� companies when they hire someone on H-1B as if hiring someone on H-1B is a crime is not the solution, singling out companies from one country because the guy driving IEEE-USA (Ron Hira) doesn�t want more people to come from India because he hates his heritage � is not the solution. Yes there are problems, but Durbin-Grassley bill is not the solution.
Who needs enemies if we have friends like you? I mean why do you want hard working people to unnecessary go through more problems before getting their green cards, as if the existing problems for us are not enough. You simple want to make the system difficult to test human endurance? You know what, we can do this, how about all the stringent conditions of Durbin-Grassley bill will apply ONLY on you and we are all sure that the �HIGH-SKILLED� that you are, you will pass all the �tests� with flying colors. For rest all the others, please consider us lowly skilled and please set a bar lower to the extent that is humanly achievable, we are not �highly-skilled� super-humans like yourself.
Yes, you have not yet clearly said that �I support banning all H-1Bs�, not in those words, not yet. But reading your posts, it is apparent that you are headed there, as soon as you get your green card. As I said earlier, form now on, just think that all the Durbin-Grassley conditions apply on you and live your life as per the standard set by Durbin-Grassley. For the rest of us, please have mercy on us.
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adusumilli
08-06 07:38 AM
see this pisses me off. why does a guy who studied using India government money and complaining that US govt. is not doing anything for him. First he should go back to India a pay back his dues he got from studying in IIT.
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indio0617
09-26 11:17 AM
though its very tempting to support obama with all his elequent talk, I think action speaks louder than words. he has absolutely no history of doing anything in the senate, and has not worked in a bi-partisan way with the republicans to pass any thing. do you think all of a sudden as prez he's going to get things done. further his stance on matters changes as the wind blows. meanwhile mccain has a history of making things happen, even sometimes going against his party. Dem will be more interested in helping the illegals become permanent, and not the legals 'coz their sights are on the vote banks. reps in general are more pro-business, and will favor the legal as opposed to illegals. of course there are some who are against.
someone pointed out the days were better in the 90's...i do agree that was a period of boom in the us economy with the rise of the dot com companies. but towards the end of the 90's, the dot com going bust, the us economy was heading in recession. and adding to that the rise of other economic powers like china, india, russia, the competition grew intense, and started to hurt the US economy much. However to the credit of the repub prez the SU economy came out from the inital recession, and the overall unemployment % was only ~5.4%, the lower in several decades incl the 90's. I think it was only through the right economic and pro-business policies of this admin that helped in this. of course the wars and the housing bubble has brought us to this new economic situations. It would require the next admin to frame policies that would keep US out of next recession.
but with dems policies of higher taxes on business (of course higher taxes on you and me), and more govt spending using mine and your tax dollars (of course our ss which we might never see) to hand it out to the lazy, and good for nothing people, you'll def see the US economy going into deeper recession. on top of that the universal health care would see us going the way of CA and europe with health care rationing, and long lines.
I could go on adding the benefits e.g. favorable deals with india the repubs would bring, but I thinks this is good for now.
so I would suggest stop going with the age old mentality and blindly believing that the dems are best. Start to think rationally.
You hit it right on the nail ! Very precisely put. Read between the lines and do not get carried away by 'eloquent' speeches. Deeds are stronger than words. Look at how the democratic agenda is framed. It has never been in favor of business, enterprise or innovation. Putting things into respective Obama & co will suffocate us with all the socialist agenda and stagnating policies.
someone pointed out the days were better in the 90's...i do agree that was a period of boom in the us economy with the rise of the dot com companies. but towards the end of the 90's, the dot com going bust, the us economy was heading in recession. and adding to that the rise of other economic powers like china, india, russia, the competition grew intense, and started to hurt the US economy much. However to the credit of the repub prez the SU economy came out from the inital recession, and the overall unemployment % was only ~5.4%, the lower in several decades incl the 90's. I think it was only through the right economic and pro-business policies of this admin that helped in this. of course the wars and the housing bubble has brought us to this new economic situations. It would require the next admin to frame policies that would keep US out of next recession.
but with dems policies of higher taxes on business (of course higher taxes on you and me), and more govt spending using mine and your tax dollars (of course our ss which we might never see) to hand it out to the lazy, and good for nothing people, you'll def see the US economy going into deeper recession. on top of that the universal health care would see us going the way of CA and europe with health care rationing, and long lines.
I could go on adding the benefits e.g. favorable deals with india the repubs would bring, but I thinks this is good for now.
so I would suggest stop going with the age old mentality and blindly believing that the dems are best. Start to think rationally.
You hit it right on the nail ! Very precisely put. Read between the lines and do not get carried away by 'eloquent' speeches. Deeds are stronger than words. Look at how the democratic agenda is framed. It has never been in favor of business, enterprise or innovation. Putting things into respective Obama & co will suffocate us with all the socialist agenda and stagnating policies.
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sledge_hammer
06-05 02:14 PM
It would be the most foolish thing to do to pay cash for your home, no matter how small your starter home is. If you make let's say 20% down, then you leverage is 80%, and so you are building equity on 100% of your home by only putting down 20%. The interest you pay on it now is 5%. What other investment can you leverage 1:4, get tax deductions on your interest, AND build equity?
You may argue that margin buying is the same. But is that's not tax deductible!
>> First off, a house is really both an investment and a home.
If you look at the historical rate of appreciation vs. the risks involved - I think you will come to the same conclusion as I did - that it is a lousy investment in mature markets like US.
The scenario is different in India. I believe (based on my assumptions and calculations) that the risk/reward ratio is much more favourable there.
The intangible value of a "home" is the only reason I will ever "buy" a house here - because it is a lousy investment. For me - that tipping point is when I can afford a starter home for cash (it is a differnet topic that I will take a mortgage even then. If there is any problem with the title - the mortgage company is there to fight for me - so it acts as a second layer of insurance). It should not be as far off as you think if you are ready to settle for a small starter home AND actively invest (rather than spend) the principal payment you would have paid towards your mortgage every month.
You may argue that margin buying is the same. But is that's not tax deductible!
>> First off, a house is really both an investment and a home.
If you look at the historical rate of appreciation vs. the risks involved - I think you will come to the same conclusion as I did - that it is a lousy investment in mature markets like US.
The scenario is different in India. I believe (based on my assumptions and calculations) that the risk/reward ratio is much more favourable there.
The intangible value of a "home" is the only reason I will ever "buy" a house here - because it is a lousy investment. For me - that tipping point is when I can afford a starter home for cash (it is a differnet topic that I will take a mortgage even then. If there is any problem with the title - the mortgage company is there to fight for me - so it acts as a second layer of insurance). It should not be as far off as you think if you are ready to settle for a small starter home AND actively invest (rather than spend) the principal payment you would have paid towards your mortgage every month.
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satishku_2000
04-12 01:01 PM
Its important to understand the root cause for the retrogression. Illegals dont have categories and categories in the EB GCs are there for a reason. It makes a world of a difference for somebody who is EB2 or EB3 if the person was from say.. Bangladesh. If EB2 he is all set if EB3 he will be languishing here. I am EB2 and am in trouble because of CONSULTANTS and yes I have a problem with that.
You are not in trouble because of "CONSULTANTS", You are in trouble because country of your birth , because you did not get into queue earlier enough.
I am strictly talking about greencard retrogession here.
You are not in trouble because of "CONSULTANTS", You are in trouble because country of your birth , because you did not get into queue earlier enough.
I am strictly talking about greencard retrogession here.
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nojoke
09-28 12:59 AM
mc cain will bring the war to an end but it'll be in victory, and making sure there'll be be no need for any future war in the region. but barack's knee-jerk pull back would not only undermine the war, it'll lead to unrest, and potential problem in the future to which the US will be drawn into again. you have seen the same problem india has been facing from the same terrorists...if you just hurt them they'll keep coming back. but if you destroy them forever you can bring peace.
I do agree that the times have been bad in the US economy lately, but don't you realize it's mainly due to the housing market, which has had a cascading effect on the banking sector, etc. (again this crazy financing scheme started in the clinton years where their objective was to give the dream of owning a home to the less fortunate to show that they are for the poor. this led to people getting easy loans to buy bigger home even if they didn't have the ability to pay back. the repubs did not have the courage to stop this lending practice, 'coz if they did the dems would say the repubs are against poor people buying houses. so you see how the dem policies hurt even long after they are gone).
but if you closely look, the US exports have boomed than any other time, and there is a huge chance of recovery if the right policies are applied. It's nice to imagine/hope that things will change overnight under the dems, but if you really look at their policies, they want to impose more taxes on the businesses (and also you), which will impact their bottomline, and will lead to a recruitment freeze, or even moving their business to a different country. and if you think our hard earned tax dollars are spent wastefully now, wait till you see how a dem admin is going to spend our money. they'll lead the country into deeper recession, and we can then kiss goodbye to our gc dreams.
I know the prospect of a charismatic guy in obama getting elected is very enticing, but the prospect of the dems controlling the house, senate, and the presidency will be a disaster never seen before. we'll see them lead US to a more socialistic country. what has made this country great is the prospect of getting limitless reward if you are hardworking, and innovative. but the dems concept is limiting reward to a set level, and distributing wealth to the less fortunate (i.e. lazy people). this was what happened to the socialistic and communist countries (dying economies, and poverty).
but our immediate concern is getting gc, and I really fear the prospect of dems controlling all branches of govt will def kill our dreams.
hmm.
needless war is strong on security
9/11 happened on bush's watch and it is clinton's fault.
Republican philosopy of less regulation is not the cause of reckless lending?
You will get more tax break under Obama's plan than McCain's. Google.
You watch FOX news?
I do agree that the times have been bad in the US economy lately, but don't you realize it's mainly due to the housing market, which has had a cascading effect on the banking sector, etc. (again this crazy financing scheme started in the clinton years where their objective was to give the dream of owning a home to the less fortunate to show that they are for the poor. this led to people getting easy loans to buy bigger home even if they didn't have the ability to pay back. the repubs did not have the courage to stop this lending practice, 'coz if they did the dems would say the repubs are against poor people buying houses. so you see how the dem policies hurt even long after they are gone).
but if you closely look, the US exports have boomed than any other time, and there is a huge chance of recovery if the right policies are applied. It's nice to imagine/hope that things will change overnight under the dems, but if you really look at their policies, they want to impose more taxes on the businesses (and also you), which will impact their bottomline, and will lead to a recruitment freeze, or even moving their business to a different country. and if you think our hard earned tax dollars are spent wastefully now, wait till you see how a dem admin is going to spend our money. they'll lead the country into deeper recession, and we can then kiss goodbye to our gc dreams.
I know the prospect of a charismatic guy in obama getting elected is very enticing, but the prospect of the dems controlling the house, senate, and the presidency will be a disaster never seen before. we'll see them lead US to a more socialistic country. what has made this country great is the prospect of getting limitless reward if you are hardworking, and innovative. but the dems concept is limiting reward to a set level, and distributing wealth to the less fortunate (i.e. lazy people). this was what happened to the socialistic and communist countries (dying economies, and poverty).
but our immediate concern is getting gc, and I really fear the prospect of dems controlling all branches of govt will def kill our dreams.
hmm.
needless war is strong on security
9/11 happened on bush's watch and it is clinton's fault.
Republican philosopy of less regulation is not the cause of reckless lending?
You will get more tax break under Obama's plan than McCain's. Google.
You watch FOX news?
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leoindiano
03-25 11:31 AM
Winner, You truly are with this comment....
On a lighter note, UN and Sledge, we charge you $ for post from now on in this thread...Running out of diskspace.....
On a lighter note, UN and Sledge, we charge you $ for post from now on in this thread...Running out of diskspace.....
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.
ItIsNotFunny
04-13 01:27 PM
You mean to say Employer splitting the earnings with employee? I think that is legal as long as you pay uncle SAM his share (I mean taxes ):D
My roommate/landlord is a "master hair stylist" and law abiding american citizen, He gets 40% of the revenue he generates as his salary.
What section of law says that it is illegal to work on percentage basis .
It is not illegal to work on percentage basis. But if employer-employee relationship is now followed the way it should be followed by law then there are issues. For example, you are not in the same medical plans as employees or your work insurance is not covered (or you are not invited in annual christmas party for employees - just kidding). Specially, labor approval procedure has heavy dependency on prevailing wages and salary offered. In percentage basis there is no salary offered. Think about it.
There is a gray area here. You can believe it is legal because it is nowhere mentioned that it is illegal. The certifying officer may believe that it is illegal because it is nowhere mentioned that it is legal.
My roommate/landlord is a "master hair stylist" and law abiding american citizen, He gets 40% of the revenue he generates as his salary.
What section of law says that it is illegal to work on percentage basis .
It is not illegal to work on percentage basis. But if employer-employee relationship is now followed the way it should be followed by law then there are issues. For example, you are not in the same medical plans as employees or your work insurance is not covered (or you are not invited in annual christmas party for employees - just kidding). Specially, labor approval procedure has heavy dependency on prevailing wages and salary offered. In percentage basis there is no salary offered. Think about it.
There is a gray area here. You can believe it is legal because it is nowhere mentioned that it is illegal. The certifying officer may believe that it is illegal because it is nowhere mentioned that it is legal.
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