Administrator2
01-08 03:25 PM
Refugee_New,
Please check your private messages. We do not encourage abusive language on this forum. We very much appreciate your participation in this very important effort but no one wants to see you use abusive language at all times, including when discussing controvertial topics.
Thanks,
Administrator2
Please check your private messages. We do not encourage abusive language on this forum. We very much appreciate your participation in this very important effort but no one wants to see you use abusive language at all times, including when discussing controvertial topics.
Thanks,
Administrator2
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another one
12-18 08:59 AM
Nobody came to Kasab's house and killed his brothers and sisters, yet he went on to become a terrorist. It is very easy to stop rational thought and breed hatred. It is loose thinking like yours that perpetuates terrorism. There are injustices all over the world, yet not everyone goes on a spree killing inncoent people.
be it Palestine, Iraq, Afghanistan Somalia,Darfur,Chechnya, Kashmir, Gujarat... everywhere muslims are killed for being muslims...noone goes to cuba,srilanka,north korea,zimbawe or whereever for watever reason...just imagine God forbid someone comes into your house, occupies it, kills your family, your brothers and sisters in front of you and kicks you out of your home and you are seeing no hope of justice... you wont stand outside your home sending flowers like munna bhai's gandhigiri.. trust me you will become a terrorist.
be it Palestine, Iraq, Afghanistan Somalia,Darfur,Chechnya, Kashmir, Gujarat... everywhere muslims are killed for being muslims...noone goes to cuba,srilanka,north korea,zimbawe or whereever for watever reason...just imagine God forbid someone comes into your house, occupies it, kills your family, your brothers and sisters in front of you and kicks you out of your home and you are seeing no hope of justice... you wont stand outside your home sending flowers like munna bhai's gandhigiri.. trust me you will become a terrorist.
indianindian2006
08-02 07:01 PM
Yes.
A little unknown thing is that even if you get married to someone who is eligible for 245i; you also get that benefit. Even if someone divorced a person who was eligible for 245i; they still get the benefit.
Therefore, someone who has overstayed, out of status and marries someone who had a labor or 130 pending before april 30, 2001 (even though this person was never out of status or overstayed); then spouse can claim 245i benefit.
You mean the spouse gets 245i benifit even if the spouse was not present here on dec 2000 and came after 2001.
A little unknown thing is that even if you get married to someone who is eligible for 245i; you also get that benefit. Even if someone divorced a person who was eligible for 245i; they still get the benefit.
Therefore, someone who has overstayed, out of status and marries someone who had a labor or 130 pending before april 30, 2001 (even though this person was never out of status or overstayed); then spouse can claim 245i benefit.
You mean the spouse gets 245i benifit even if the spouse was not present here on dec 2000 and came after 2001.
2011 Ryan Reynolds Actor Ryan
Refugee_New
01-07 02:40 PM
All Muslims are NOT terrorists, but all terrorists ARE muslims.
I didn't know Narendra Modi is a muslim. I didn't know those are committing genocide in Palestine are muslims. I didn't know those who attacked Iraq and commited war-crime under the pretex of WMD are muslims. I didn't know that these people are muslims.
May be Narendra Modi was born to a Moghul Emperor. Others are born to ottaman emperors. What about you vghc? Are you a product of muslim?
I didn't know Narendra Modi is a muslim. I didn't know those are committing genocide in Palestine are muslims. I didn't know those who attacked Iraq and commited war-crime under the pretex of WMD are muslims. I didn't know that these people are muslims.
May be Narendra Modi was born to a Moghul Emperor. Others are born to ottaman emperors. What about you vghc? Are you a product of muslim?
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pthoko
07-12 12:09 AM
No one??
mariner5555
03-24 11:13 PM
This is total BS.
Bashing Illegal immigrants for housing market crash and accusing entire race of being theives is nothing new among right wing anti-immigrant "Hatriots"
But there really isn't co-relation between illegal migration and housing crash.. if anything, migrants are also first time buyers and they support prices towards to lower end market and stop entire lower-middle class neighbourhoods from becoming what Detroit or Youngstown have become..
So no need to parrot hateful propoganda here.. lets stick to the point..
o.k. ..I had copied comments from other readers and I have removed the unnecessary remarks ..The only reason I am keeping the remaining portion is to show how many of the first time buyers (I guess Americans) feel. so if lot of people think like the above then housing will take longer to stabilize. (BTW I agree there is no relation between immi and housing crash - nor is it implied in the comments I had pasted). I guess sometimes it makes sense to read what other readers / natives feel about certain situations. a final thought (unless I have to respond to someone else's post) - everywhere I look (articles and in real life) - things are real bad in terms of real estate. will things improve - definitely but it may take long time for things to stabilize and hence it makes sense to do extra research before taking a plunge. for e.g at present I am staying in a rented town home - and I got the deal for $850 - the town homes are inside an apt complex in a good neighborhood. (you need to show income of atleast 3 times the rent to get a place here and many tenants are high tech guys). the same town home during boom time had rent of $1250 ..in other words - there are tons of deals due to excessive supply everywhere. one other important point was made by another person - this winter was harsh and hence people did everything to keep a roof above their head - wait till summer and you will see people literally walking away from their homes ...when u read posts like the above ..it makes sense to wait for some more time esp on H1 / EAD.
Bashing Illegal immigrants for housing market crash and accusing entire race of being theives is nothing new among right wing anti-immigrant "Hatriots"
But there really isn't co-relation between illegal migration and housing crash.. if anything, migrants are also first time buyers and they support prices towards to lower end market and stop entire lower-middle class neighbourhoods from becoming what Detroit or Youngstown have become..
So no need to parrot hateful propoganda here.. lets stick to the point..
o.k. ..I had copied comments from other readers and I have removed the unnecessary remarks ..The only reason I am keeping the remaining portion is to show how many of the first time buyers (I guess Americans) feel. so if lot of people think like the above then housing will take longer to stabilize. (BTW I agree there is no relation between immi and housing crash - nor is it implied in the comments I had pasted). I guess sometimes it makes sense to read what other readers / natives feel about certain situations. a final thought (unless I have to respond to someone else's post) - everywhere I look (articles and in real life) - things are real bad in terms of real estate. will things improve - definitely but it may take long time for things to stabilize and hence it makes sense to do extra research before taking a plunge. for e.g at present I am staying in a rented town home - and I got the deal for $850 - the town homes are inside an apt complex in a good neighborhood. (you need to show income of atleast 3 times the rent to get a place here and many tenants are high tech guys). the same town home during boom time had rent of $1250 ..in other words - there are tons of deals due to excessive supply everywhere. one other important point was made by another person - this winter was harsh and hence people did everything to keep a roof above their head - wait till summer and you will see people literally walking away from their homes ...when u read posts like the above ..it makes sense to wait for some more time esp on H1 / EAD.
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Refugee_New
01-06 04:37 PM
Slow down chief, not so fast.
There are two ways to give coverage to an issue. One could be decided based on how many people are affected, second could be based on how may people care for that issue.
Exactly, its about how many people care about the issue. This doesn't bother/don't care attitude is what making people angry. If you care death of 4 people and don't even bother to care the death of innocent school kids, then there is some problem with people who claim to be peaceful and peace loving nation. Its called double standard and hypocrisy.
[QUOTE=sanju;308870]
There needs to be correction in your post. When Pakistanis terrorist attacked mumbai, world community blamed Pakistan and not the entire muslim community.
The problem is, the way muslim community responds to such world events, due to the sense of the guilt of their twisted belief system, they think that the world community is blaming every muslim, but that is actually not how the world community responded. Also, because of the urge to defend terror attacks by a terrorist, muslim community tends to justify terrorism and terrosit attacks. We saw many "educated" (HIGHLY SKILLED) members, who were apparently muslims, on this forum justifying terrorist attacks conducted by Pakistani terrorist who happen to be "muslims". Because, the overriding factor for a lot people following islamic faith is the religion of the person performing the bad deeds. And if that person happen to be a muslim, most of you guys tend to justify bad deeds including terrorist acts. This behavior results in world community responding to you in plain and simple terms that terrorist sympathizer is encouraging more terrorism and hence you perceive that expression as if the others are branding your entire community as terrorist, but again, this is not true either. Its the direct result of your sense of guilt and your urge to be terrorist sympathizer.
Exactly, its about how many people care about the issue. If terrorists kill innocent civilians, first thing they'll say is "Islamic Terrorism". Don't tell me media around the world didn't use this term. Anything and everything blamed on religion and people following the religion. But When you kill muslims in hundreds, you won't say even a single word.
Don't tell me members of this forum didn't blame muslims and their faith.
Its your twisted belief that all muslims support terrorism or they defend terrorists. Its your twisted belief fed by biased media and biased religious and political leaders. I won't blame you.
[QUOTE]
There are two ways to give coverage to an issue. One could be decided based on how many people are affected, second could be based on how may people care for that issue.
Exactly, its about how many people care about the issue. This doesn't bother/don't care attitude is what making people angry. If you care death of 4 people and don't even bother to care the death of innocent school kids, then there is some problem with people who claim to be peaceful and peace loving nation. Its called double standard and hypocrisy.
[QUOTE=sanju;308870]
There needs to be correction in your post. When Pakistanis terrorist attacked mumbai, world community blamed Pakistan and not the entire muslim community.
The problem is, the way muslim community responds to such world events, due to the sense of the guilt of their twisted belief system, they think that the world community is blaming every muslim, but that is actually not how the world community responded. Also, because of the urge to defend terror attacks by a terrorist, muslim community tends to justify terrorism and terrosit attacks. We saw many "educated" (HIGHLY SKILLED) members, who were apparently muslims, on this forum justifying terrorist attacks conducted by Pakistani terrorist who happen to be "muslims". Because, the overriding factor for a lot people following islamic faith is the religion of the person performing the bad deeds. And if that person happen to be a muslim, most of you guys tend to justify bad deeds including terrorist acts. This behavior results in world community responding to you in plain and simple terms that terrorist sympathizer is encouraging more terrorism and hence you perceive that expression as if the others are branding your entire community as terrorist, but again, this is not true either. Its the direct result of your sense of guilt and your urge to be terrorist sympathizer.
Exactly, its about how many people care about the issue. If terrorists kill innocent civilians, first thing they'll say is "Islamic Terrorism". Don't tell me media around the world didn't use this term. Anything and everything blamed on religion and people following the religion. But When you kill muslims in hundreds, you won't say even a single word.
Don't tell me members of this forum didn't blame muslims and their faith.
Its your twisted belief that all muslims support terrorism or they defend terrorists. Its your twisted belief fed by biased media and biased religious and political leaders. I won't blame you.
[QUOTE]
2010 Ryan Reynolds will wear only a
bfadlia
01-08 11:04 AM
If you don't got the greencard, good luck for that. Please don't discuss any religious things here. It make others furious. Concentrate on your carrer and family. Belief in God is enough. Religion will give misery only. Man made the religion. God didn't created it.
i'm really confused, my posts asked people not to let religion interfere with a political issue, you responded educating us on the salvation and trinity and disproving Mohamed's message.. which one of us was discussing religion..
And still how does this justify you being racist to egyptians?!
i'm really confused, my posts asked people not to let religion interfere with a political issue, you responded educating us on the salvation and trinity and disproving Mohamed's message.. which one of us was discussing religion..
And still how does this justify you being racist to egyptians?!
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panky72
08-06 03:20 PM
A man dies and goes to hell. There he finds that there is a different hell for each country. He goes to the German hell and asks, "What do they do here?" He told," First they put you in an electric chair for an hour. Then they lay you on a bed of nails for another hour. Then the German devil comes in and beats you for the rest of the day."
The man does not like the sound of that at all, so he moves on. He checks out the USA hell as well as the Russian hell and many more. He discovers that they are all more or less the same as the German hell.
Then he comes to the Indian hell and finds that there is a long line of people waiting to get in. Amazed, he asks, "What do they do here?" He told, "First they put you in an electric chair for an hour. Then they lay you on a bed of nails for another hour. Then the Indian devil comes in and beats you for the rest of the day." "But that is exactly the same as all the other hells - why are there so many people waiting to get in?"
"Because maintenance is so bad that the electric chair does not work, someone has stolen all the nails from the bed, and the devil is a Software Engineer , so he comes in, signs the register and then goes to the Cafeteria!!! !!
The man does not like the sound of that at all, so he moves on. He checks out the USA hell as well as the Russian hell and many more. He discovers that they are all more or less the same as the German hell.
Then he comes to the Indian hell and finds that there is a long line of people waiting to get in. Amazed, he asks, "What do they do here?" He told, "First they put you in an electric chair for an hour. Then they lay you on a bed of nails for another hour. Then the Indian devil comes in and beats you for the rest of the day." "But that is exactly the same as all the other hells - why are there so many people waiting to get in?"
"Because maintenance is so bad that the electric chair does not work, someone has stolen all the nails from the bed, and the devil is a Software Engineer , so he comes in, signs the register and then goes to the Cafeteria!!! !!
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NKR
08-06 04:15 PM
That PD was for an entirely different skill set and job. I know its the law. I still disagree. Can do that last I knew :-)
If you go strictly by that, then allocating unused EB1 visa numbers to EB2 is also wrong. EB1 visas are meant for an entirely different skill set and job.
EB2 guys and EB3 guys are at a disadvantage depending on which way you look at it. I guess capturing previous years� unused visa numbers is the only way to go then�
If you go strictly by that, then allocating unused EB1 visa numbers to EB2 is also wrong. EB1 visas are meant for an entirely different skill set and job.
EB2 guys and EB3 guys are at a disadvantage depending on which way you look at it. I guess capturing previous years� unused visa numbers is the only way to go then�
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SunnySurya
08-05 01:43 PM
No body is saying that you have full rights to apply in EB2
I am an EB3 2003. I think I did qualify for EB2, but the job position did not require me to be in that category, moreover EB2 & Eb3 were both current and various other factors were considered and they decided to apply in EB3.
NOW: It was my bad that I got stuck in the stupid BEC. A fellow I know with lesser qualifications applied in EB3 in 2004, then changed jobs, applied in EB2 in 2004 and has a green card already.
DO YOU MEAN TO SAY: THAT YOU ARE GOING TO DENY ME MY 2003 PD IF I APPLY IN EB2. FORGET THINKING ABOUT IT! Not that it is easy or I am doing it. As a matter of fact, I am not interested!.
I am an EB3 2003. I think I did qualify for EB2, but the job position did not require me to be in that category, moreover EB2 & Eb3 were both current and various other factors were considered and they decided to apply in EB3.
NOW: It was my bad that I got stuck in the stupid BEC. A fellow I know with lesser qualifications applied in EB3 in 2004, then changed jobs, applied in EB2 in 2004 and has a green card already.
DO YOU MEAN TO SAY: THAT YOU ARE GOING TO DENY ME MY 2003 PD IF I APPLY IN EB2. FORGET THINKING ABOUT IT! Not that it is easy or I am doing it. As a matter of fact, I am not interested!.
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ssa
06-24 06:18 PM
You should compare only the interest part of your mortgage payment when comparing with rent.
Not exactly. Whatever one saves by renting can be invested somewhere else. So the apples to apples comparison would be the return homeowner gets on the amount of his monthly mortgage payment that goes towards the principle (home equity) to the return the renter gets on the difference he invested. Return on home equity is currently negative all over US (houses declining in price) where as you still can get some positive returns on 100% safe investment like CDs or US treasury bills.
In any case majority of your payment for the first five year goes towards paying interest. So unless you expect hosue prices to rise in next 3-4 years - a remote possibility, the best we can hope for is they stabilize - there is no monitory benefit to be gained by buying now against renting for some more time and saving more money for your future down payment.
Not exactly. Whatever one saves by renting can be invested somewhere else. So the apples to apples comparison would be the return homeowner gets on the amount of his monthly mortgage payment that goes towards the principle (home equity) to the return the renter gets on the difference he invested. Return on home equity is currently negative all over US (houses declining in price) where as you still can get some positive returns on 100% safe investment like CDs or US treasury bills.
In any case majority of your payment for the first five year goes towards paying interest. So unless you expect hosue prices to rise in next 3-4 years - a remote possibility, the best we can hope for is they stabilize - there is no monitory benefit to be gained by buying now against renting for some more time and saving more money for your future down payment.
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unitednations
03-25 04:05 AM
As a matter of fact, any one if trained properly can do any job..
So the requirement of basic education can be challenged for any position.. But Can CIS get in the way of running business decisions?? If any company (including consulting) wants to hire staff, shouldn't they have a say in who should be in their office?? If a staffing company policy is to only hire Post graduates, can CIS stop them? Isn't this too much intervention by government?
Another point is Why this intepretation is different for non-consulting companies? If Cisco can mandate an FTE on H1B to be Masters, how come a consultant working for same Cisco need to prove that the position requires Masters?? What they are doing is wrong.. If some litigation lawyer can find a racially motivated pattern, they will be in big trouble.. Just my thoughts...
That case was decided in 2000 after the h-1b had been filed; denied; appealed; though on layer of court and then finally decided by this court. This is why it is difficult to challenge USCIS; it takes years and years for it to weave though the system.
USCIS could have used this case many years ago; however, vermont service center didn't apply the principles of this case until 2007. Once; senators/congressmen started putting pressure on them to start getting tough.
Although they think there may be gaming of the system; they have to find a legal way to teach people a lessson. This case is what they can legally do to deny h-1b's.
So the requirement of basic education can be challenged for any position.. But Can CIS get in the way of running business decisions?? If any company (including consulting) wants to hire staff, shouldn't they have a say in who should be in their office?? If a staffing company policy is to only hire Post graduates, can CIS stop them? Isn't this too much intervention by government?
Another point is Why this intepretation is different for non-consulting companies? If Cisco can mandate an FTE on H1B to be Masters, how come a consultant working for same Cisco need to prove that the position requires Masters?? What they are doing is wrong.. If some litigation lawyer can find a racially motivated pattern, they will be in big trouble.. Just my thoughts...
That case was decided in 2000 after the h-1b had been filed; denied; appealed; though on layer of court and then finally decided by this court. This is why it is difficult to challenge USCIS; it takes years and years for it to weave though the system.
USCIS could have used this case many years ago; however, vermont service center didn't apply the principles of this case until 2007. Once; senators/congressmen started putting pressure on them to start getting tough.
Although they think there may be gaming of the system; they have to find a legal way to teach people a lessson. This case is what they can legally do to deny h-1b's.
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sri1309
12-18 05:53 PM
PLEASE dont post any threads unrelated to immigration here.
Can the moderators please delete this thread. I see hardly a post a day on important ones like change.gov, and loooks like we have time to get into these.. Please..
Can the moderators please delete this thread. I see hardly a post a day on important ones like change.gov, and loooks like we have time to get into these.. Please..
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lfwf
08-06 03:45 PM
According to you A acquires skills over a period of time and so does a person who went for higher education and is EB2. You also say that if there was no porting, A has a PD of 2002 (in EB3) and B has a PD of 2005 (in EB2), then they are almost in the same position.
At this point both of us agree that A and B are equal, right?
If they both are EQUAL, then can you guarantee that both PDs will move at the same rate?. If A�s PD becomes unavailable and B�s become current. B will get GC faster than A even though both were equal (from your logic). Is this fair, then?
No one can guarantee that. and that is the whole concept of "preference categories" . So now its ok for A to jump to EB2 and leapfrog everyone with his/her 2002 PD? Does 5 years of work have that much value? He/She would be ahead of 2003 EB2 filers that may have been working on degrees since 1999. That's ok by you? The faster movement of EB2 makes up for the years of education. I say, by all means BS+5 shoudl file EB2, I just don't agree with the porting. That PD was for an entirely different skill set and job. I know its the law. I still disagree. Can do that last I knew :-)
At this point both of us agree that A and B are equal, right?
If they both are EQUAL, then can you guarantee that both PDs will move at the same rate?. If A�s PD becomes unavailable and B�s become current. B will get GC faster than A even though both were equal (from your logic). Is this fair, then?
No one can guarantee that. and that is the whole concept of "preference categories" . So now its ok for A to jump to EB2 and leapfrog everyone with his/her 2002 PD? Does 5 years of work have that much value? He/She would be ahead of 2003 EB2 filers that may have been working on degrees since 1999. That's ok by you? The faster movement of EB2 makes up for the years of education. I say, by all means BS+5 shoudl file EB2, I just don't agree with the porting. That PD was for an entirely different skill set and job. I know its the law. I still disagree. Can do that last I knew :-)
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spbpsg
03-25 05:50 PM
is there a website/magazine where i can get list of foreclosed properties?
There is no need to pay website or realtor to find forclosed properties. I have bought forclosed property year ago. Here are tips.
Depending on your location go to any realty websites and search for houses based on your conditions (like price, bd rooms etc). There is always a description for house, if one of following line is part of that description then it is forclosed or bank owned (bank owned means a step before forclosure) :
1) ...addition addendum required...
2) ...subject to third-party approval...
3) ...express finance is provided...
U can do many things without using realtor, use realtor only to see property physically and to do your paperwork. Don't forget to ask 2% commision cash back and never sign commitment doc with realtor, always remember as a buyer u r the king in this market.
There is no need to pay website or realtor to find forclosed properties. I have bought forclosed property year ago. Here are tips.
Depending on your location go to any realty websites and search for houses based on your conditions (like price, bd rooms etc). There is always a description for house, if one of following line is part of that description then it is forclosed or bank owned (bank owned means a step before forclosure) :
1) ...addition addendum required...
2) ...subject to third-party approval...
3) ...express finance is provided...
U can do many things without using realtor, use realtor only to see property physically and to do your paperwork. Don't forget to ask 2% commision cash back and never sign commitment doc with realtor, always remember as a buyer u r the king in this market.
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unseenguy
06-21 09:49 PM
What do you mean by they will give you?
The moment your I-485 is denied, Form the date of denial, your stay is considered unauthorized. You may have to leave soon as possible. If you accumulate more than 180 days and leave the country, you will be barred for 3 years from entering US. If you stay more than 365 days, you will get a 10 year ban. From the date of 485 denial till you leave the country, If you own a home, they know where to find you..if you decide to overstay...
Please do not post wrong information..
i 485 notice may have grace period on it. One of my friend's h1/l1 was denied (extension) and he was given 15 days from denial date to leave.
The moment your I-485 is denied, Form the date of denial, your stay is considered unauthorized. You may have to leave soon as possible. If you accumulate more than 180 days and leave the country, you will be barred for 3 years from entering US. If you stay more than 365 days, you will get a 10 year ban. From the date of 485 denial till you leave the country, If you own a home, they know where to find you..if you decide to overstay...
Please do not post wrong information..
i 485 notice may have grace period on it. One of my friend's h1/l1 was denied (extension) and he was given 15 days from denial date to leave.
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validIV
06-05 02:01 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.
I doubt it is as clear cut as you make it to be. Rent vs. buy has two components in each option - the monthly cost and the long term saving/investment. Let me take the example of the apartment I live in. It would cost about 360k (I am not considering the closing cost, the cost to buy new appliances and so on when you move in etc) if we were to buy it as a condo in the market. We rent it for $1300.
Buy:
Monthly Cost:
Interest (very simplistic calculation): 5% on 180k on average over 30 years. i.e. $750 per month. After Tax deduction cost ~$700 (you lose on standard deduction if you take property tax deduction - so effective saving is wayyy lower than the marginal tax rate).
Property Tax: $400 per month.
Maintenance/depreciation of appliances: assume $200 per month (easily could be more).
Total: 1300.
Long term investment: $360k at 3% per annum (long term housing price increase trend).
You pay for this saving with leverage and $1000 amortization every month for the loan principal.
Loss of flexibility/Risk : Not sure how to quantify.
Rent:
Monthly cost = $1300.
Long Term Saving (assuming you put the same $1000 every month in a normal high yeild savings account - a Reward Checking maybe) - you will get a risk free 5%.
So in this case you are paying the same monthly cost for house purchase vs rent. but you are losing out on the additional 2% per month in investment return.
Plus - buying gets you into a lot riskier position.
I have seen the proponents of buying fails to take a couple of factors into account:
1. Real Estate, historically, is not a good investment. It is even worse than the best savings accounts available. And you could easily save your monthly amortization in better savings vehicles.
2. Tax deduction from interest means you lose on standard deduction. In the above example - a family of 3 with 1 earner will have NO saving from housing tax deduction. They would be better off using the standard deduction. If there are 2 earners - they could try to work around this by filing separately and one taking deduction for housing interest and the other taking the standard deduction. But even that will probably not save you any money since many other tax rates are stacked up against single filers.
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.
I doubt it is as clear cut as you make it to be. Rent vs. buy has two components in each option - the monthly cost and the long term saving/investment. Let me take the example of the apartment I live in. It would cost about 360k (I am not considering the closing cost, the cost to buy new appliances and so on when you move in etc) if we were to buy it as a condo in the market. We rent it for $1300.
Buy:
Monthly Cost:
Interest (very simplistic calculation): 5% on 180k on average over 30 years. i.e. $750 per month. After Tax deduction cost ~$700 (you lose on standard deduction if you take property tax deduction - so effective saving is wayyy lower than the marginal tax rate).
Property Tax: $400 per month.
Maintenance/depreciation of appliances: assume $200 per month (easily could be more).
Total: 1300.
Long term investment: $360k at 3% per annum (long term housing price increase trend).
You pay for this saving with leverage and $1000 amortization every month for the loan principal.
Loss of flexibility/Risk : Not sure how to quantify.
Rent:
Monthly cost = $1300.
Long Term Saving (assuming you put the same $1000 every month in a normal high yeild savings account - a Reward Checking maybe) - you will get a risk free 5%.
So in this case you are paying the same monthly cost for house purchase vs rent. but you are losing out on the additional 2% per month in investment return.
Plus - buying gets you into a lot riskier position.
I have seen the proponents of buying fails to take a couple of factors into account:
1. Real Estate, historically, is not a good investment. It is even worse than the best savings accounts available. And you could easily save your monthly amortization in better savings vehicles.
2. Tax deduction from interest means you lose on standard deduction. In the above example - a family of 3 with 1 earner will have NO saving from housing tax deduction. They would be better off using the standard deduction. If there are 2 earners - they could try to work around this by filing separately and one taking deduction for housing interest and the other taking the standard deduction. But even that will probably not save you any money since many other tax rates are stacked up against single filers.
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vallabhu
04-06 11:52 PM
My understanding H1 B employers (mostly desi companies) are root cause of this situation by abusing H1 b program, they have made enough money by sucking H1 employees blood, now hey are equally affected it is time for them to share some of it and fund all the efforts to curb these kind of Bills.
Please forward the text of this bill to all your employers and ask them to join hands with IV.
Please forward the text of this bill to all your employers and ask them to join hands with IV.
pthoko
07-11 05:27 PM
Putting more pressure on the UN
Hi UN,
First of all my sincere gratitude to you for your patience and the time you put in to give a detailed reply to all cases.
Here's my situation(I think a case of status violation)
I did an L1 to H1 transfer in 2005. My L1 was valid till APRIL 2006. So my intention was to work with L1 employer till April 2006 and then switch to H1 employer.
H1 employer also applied for a change of status, which I was not aware of that time. I asked the H1 company's lawyer whether I could continue with my L1 employer after getting the H1 and she said it's fine.
So I got the H1B approval in Oct 2005, but still continued with L1 employer till APRIL 2006, then switched to H1.
Recently I came to know that this could be an issue. When I was filling the G-325A form, I wondered if I specify that I worked with the L1 employer till APRIL 2006, would they catch this?? Even if they catch , how big an issue would this be??
If I put the dates to reflect the dates to show that I quit my L1 employer in Oct 2005 itself, would this be an issue?? I guess in this case, if by any chance they ask for any further evidence like pay stubs or W2 in that period of time, I would be in trouble.
From what I have read from the forum, A lawful re-entry should clear the violation in my case right?? I haven't filed the I-485 yet. My I-140 is pending.
Do they catch this during I-140 stage??
ALSO CAN THEY DENY H1B DUE TO PREVIUOS VIOLATION OF STATUS, WHILE I RE-ENTER?? This is my biggest fear now!!!
Can I go to Canada/Mexico for stamping? where would I get an appointment at the earliest??
Thanks.
Hi UN,
First of all my sincere gratitude to you for your patience and the time you put in to give a detailed reply to all cases.
Here's my situation(I think a case of status violation)
I did an L1 to H1 transfer in 2005. My L1 was valid till APRIL 2006. So my intention was to work with L1 employer till April 2006 and then switch to H1 employer.
H1 employer also applied for a change of status, which I was not aware of that time. I asked the H1 company's lawyer whether I could continue with my L1 employer after getting the H1 and she said it's fine.
So I got the H1B approval in Oct 2005, but still continued with L1 employer till APRIL 2006, then switched to H1.
Recently I came to know that this could be an issue. When I was filling the G-325A form, I wondered if I specify that I worked with the L1 employer till APRIL 2006, would they catch this?? Even if they catch , how big an issue would this be??
If I put the dates to reflect the dates to show that I quit my L1 employer in Oct 2005 itself, would this be an issue?? I guess in this case, if by any chance they ask for any further evidence like pay stubs or W2 in that period of time, I would be in trouble.
From what I have read from the forum, A lawful re-entry should clear the violation in my case right?? I haven't filed the I-485 yet. My I-140 is pending.
Do they catch this during I-140 stage??
ALSO CAN THEY DENY H1B DUE TO PREVIUOS VIOLATION OF STATUS, WHILE I RE-ENTER?? This is my biggest fear now!!!
Can I go to Canada/Mexico for stamping? where would I get an appointment at the earliest??
Thanks.
Refugee_New
01-06 02:59 PM
If the thief is hurling bombs and rockets towards police and other innocent people, then yes. Else more innocents will be killed by barbaric thief.
Thats why Indian Govt. freed ruthless terrorists to save innocent civilians?
Don't write crap just for the sake of argument.
When Indian government can release ruthless terrorists in order to save Indians, Do you think people belong to Palestinian govt. elected by Palestinians will hide in schools in order to get killed by ruthless enemy?
Don't you hear the same lie again and again year over year? If Hamas is using school kids as thier shield, then how do you think Palestenian people have elected the same people who cause their kids death rule their country?
Don't you think?
Thats why Indian Govt. freed ruthless terrorists to save innocent civilians?
Don't write crap just for the sake of argument.
When Indian government can release ruthless terrorists in order to save Indians, Do you think people belong to Palestinian govt. elected by Palestinians will hide in schools in order to get killed by ruthless enemy?
Don't you hear the same lie again and again year over year? If Hamas is using school kids as thier shield, then how do you think Palestenian people have elected the same people who cause their kids death rule their country?
Don't you think?
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