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  • akred
    04-09 12:06 AM
    If this bill passes along with CIR, that gives the ability to file for 485 even without visa numbers being available, I think most of the placement companies would file for LC (PERM) as soon as they recruit someone (and get H1 approved). That would allow them to file for 140 and 485. Am I missing something here?

    Yes, you are missing something. The processing times for LC(PERM) and for I-140 are not guaranteed. There will be trouble if either of these take an extended amount of time like the multi-year waits that we saw in the recent past. So, the ability to file I-485 without visa number availability will address current filers, but may not protect future filers.





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  • pitha
    10-01 04:32 PM
    I was thinking of buying a car but I have decided to hold off on it untill the presidentials elections are over. If obama is elected president I will not buy the car and will basically go into 100% saving mode because you never know when Obama\Durbin might kick us out. Nobody knows what sort of draconian rules are going to be put in place for EB community by Obama and Durbin. I have no confidence in Obama\Durbin to show any compassion\fairness towards Eb community. There might be hundreds of thousands of people holding off on purchasing a house, car or any big ticket item because of Obama\Durbin cir and there hostility towards Eb community. Hope I am proven wrong but I have not heard a single positive thing out of obama regarding EB community. Even when he was specifically asked about the green card delays faced by EB community he gave a evasive reply. He is always boasting about support for legal immigartion i.e family based immigration and not eb. I am not a obama hater nor a mcccain supporter but just a worried EB guy worried about his bleak future with Durbin lead cir.





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  • jkays94
    06-01 01:13 PM
    I'm confused in the first place, How a public telivision channel like CNN allows to air this show.

    The problem is most often the information and numbers given on this show are not actual facts and often exaggerated and misleading. The info looks most likely derived from FAIR or NumbersUSA or Heritage foundation or one of their associates.

    The reasons can be summed up simply as ratings and the revenue defined from high ratings. CNN is taking a beating from Fox and has decided to adopt an ultra conservative agenda. At the end of the day if being pro-immigrant would improve ratings for CNN such that it would beat Fox News ratings, I am willing to bet that CNN would make a turn around and sing praises in honor of immigrants. See my next post for how low CNN is willing to go in associating with anti-immigrant groups to the extent of propagating myths.





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  • USDream2Dust
    03-23 10:33 PM
    Thank you. I need to buy a house and I have no savings. I make a lot of money but no savings. You guys are inspiration. I am going to jump off the cliff and buy a house. Worst come worst I would contribute to the worsening economy and end up in foreclosure. But I think unless I try I would end up getting old in my 1 bedroom apt.

    I need help. I am searching online a lot of real estate agents. How do you do it? I am in NJ and don't even know what area is good and I heard you have to look for schools for kids (i don't have but would have in 1-2 years). Do real estate agents recommend any areas?

    There is only 2 things I know.
    1. I need house
    2. I can afford 500k house.


    Any inputs recommended :)



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  • gc4me
    08-05 10:42 AM
    Mrs. Rolling_Flood,
    Post you qualification here.
    You can see flood of post from EB3 folks who has superior qualification (education wise as well as experience) compare to you. Either you are out of your mind from rigorous GC fever or a one eyed person with poor imagination or simply you did not get a chance to work in a big environment like fortune 10 or may be fortune 100 companies. Or else you would know how/why/when a company files under EB3 despite the fact that the candidate has more than required qualification for EB2. Position requirement, layoffs, HR policies, Company’s Attorney Firm’s policy etc. comes to picture when a big organization files LC/GC for a candidate.

    I guess you are like me working with a small deshi consulting firm with 3 or 4 consultants (working C2C). They can make almost anyone eligible (on the paper) for EB2.

    Then ask me why I am not EB2? According to my company's attorney, I-140 will be rejected due to the stand of
    company's financials.

    Friends,
    I need to find out how many people are interested in pursuing this option, since the whole interfiling/PD porting business (based on a year 2000 memo) can seriously undermine the EB2 category.

    I am currently pursuing some initial draft plans with some legal representation, so that a sweeping case may be filed to end this unfair practice. We need to plug this EB3-to-EB2 loophole, if there is any chance to be had for filers who have originally been EB2.

    More than any other initiative, the removal of just this one unfair provision will greatly aid all original EB2 filers. Else, it can be clearly deduced that the massively backlogged EB3 filers will flock over to EB2 and backlog it by 8 years or more.

    I also want to make this issue an action item for all EB2 folks volunteering for IV activities.

    Thanks.





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  • kutra
    07-14 07:30 AM
    I agree ..the letter can be improved but EB3-I should be allowed to express their frustration. This is a free country and I guess you can send letters.
    at the very least, EB3-I can hope that someone from USCIS tells what is the approximate future for EB3..so that those who are stuck there can take appropriate actions

    Sure, it is a free country. But I only hope the letter or words do not mention anything about IV. Reason being, if IV is not endorsing this campaign, then do not express yourself under the IV banner.

    IV is like a human body with all of us members being the different parts of the body. However, there should be one and only one mouth. And that should be consistent in the IV messaging. If IV core (which is surprisingly quite on this thread) is asking everyone to focus on the visa-recapture campaign, then that's what everyone should do.

    On a related note, a free country doesn't necessarily mean you can express yourself just because you want to. I can call anyone an idiot just because it's a free country, but everyone else can see who the real jerk is!

    Being an EB3-Indian myself (Oct 2003), I can only urge fellow EB3-Indians to think rationally and urge IV core to provide their thoughts.

    P.S.: Just think what a ridiculous thing you are asking for......"for USCIS to tell what is the approximate future for EB3"!! That's a joke! I don't know what my future will be GC or no GC. Why will I listen to USCIS who has been most trustworthy historically. And why would they want to make themselves liable to tell you what actions to take. As I wrote earlier, just because it's a free country, it doesn't mean, you can ask someone for anything irrationally!



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  • pitha
    10-06 01:57 PM
    Fareed Zakaria has a program called GPS on CNN. Last week he went to singapore and interviewed a security\economic analyst from india, singapore and China. The analyst said something which was 100% acurate and something very semilar to what is happenning on this forum, He said India in its heart wants Obama to win but thinking with its head (logically) they want Mccain to win. He said Obama would be a disaster to India. He went on to read a laundry list of things in which Obama would be bad for India and one of the things that he cited would be bad for India under Obama was EB immigration for Indians and Chinese. Even analysts from India, China and singapore recognize what a disaster Obama would be for Eb immigrants and we here are still hoping for a obama win. Anyway, You and I (EB imigrants) hoping will not make any difference but atleast wake up to the impending disaster in the form of Obama\Durbin and start planning for it.

    I think Barrack Obama is really interested in strengthning its ties with India. I think he will definitely do something to help legal immigrants waiting in queue as one aspect of strengthning ties with India.

    Source: http://www.rediff.com/news/2008/oct/03ndeal.htm





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  • immique
    07-14 10:10 PM
    why did you not sue your employer saying that he improperly filed the petition in EB3. you should have done it long time back and you can still do it. If you do not want to do it, you should have switched employers and refiled in EB2 with a different employer. personally I do not prefer to work for any such employer who does not understand the true value of your skills. such isolated experiences are not a justification for circumventing EB preference laws.

    Why do you write 'I know this mess is depressing for EB3 folks' ?
    Is IV not with Eb3 folks? Or are they not important.

    Let me clear somethings.
    Earning in higher 70Ks in the year 2003 and with over 5+ years of progressive experience, they still went ahead a filed my app under EB3. Was that a mistake? Not mine. My employer knew that Eb3 would be slower.

    What happened? cases like mine were eye openers and learning experiences for comrades who were going to file and they filed under EB2, I asked friends and relatives and classmates of mine to file under Eb2.
    Am i happy for them? No, I hate them. Of course, I am happy for them. Very very much.

    So, why would you not fight for us?

    If people like me and filers before me had not filed under EB3, and not shared our experiences, how would we have progressed?

    Suddenly, 'You Eb3 folks are depressed' from 'We folks are depressed'. lol for chauvinism.



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  • punjabi
    08-08 06:41 PM
    Oh, I loved this joke!!!!!

    :D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D:D
    HERE COMES THE BEST JOKE OF THIS THREAD

    I got a RED dot for this post.

    Comment - "Racist Joke".





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  • pappu
    01-29 09:45 PM
    Yup. Many want to shut the golden door of opportunity behind them after they enter! Few like to help others by pulling them out of the mess they were once in!

    There are several immigration related websites and many of them are run by people who themselves went through difficult retrogression. Now these websites are making lot of money due to the traffic on their sites. None has helped IV with anything. Not even allowing us to post a banner ad on their site!
    If any such person is reading this note or knows someone who runs a website, do contact me if you wish to help this cause.



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  • ssa
    06-25 02:17 PM
    Remember the biggest speculation we have had in recent history was in real estate from 2002 to 2007. That's the primary reason we are all in this mess. So if anyone is speculator it's the new homeowner who bought house between 2002 to 2007, definitely not the renter. I for one am very glad I sat out the whole crazy real estate hysteria during the time. I'm not underwater! Those who bought during the peak around 2005/2006 will have to wait a long time before they can even break even.

    Your second point of buying 3-4 homes with 20% down each and building equity on rent is the classic strategy to head into multiple foreclosures at once. This was the exact thinking that got so many real estate speculators in deep whole. Show me a single major city that has good amount of jobs (Bay area/Boston/Seattle) and where the monthly rent covers the monthly mortgage payment+property tax+home insurance. If that were the case there would not have been all these foreclosures, they would just give their houses on rent!

    Finally as for missing on the lowest interest rates, interest rates will generally move in somewhat opposite direction to house prices. That is because when the interest rate is high there will be less buyers which will drive the prices down. So barring lucky few you can only lock in either low interest rate or low house prices. Choice here is clear: you can always re-finance when the interest rates go down next time but you can never re-negotiate your house purchase price so you should always aim for getting a low price rather than low interest rate.

    Owning a home is never a bad idea but paying unreasonable price for it is indeed a bad one. It's like asking if owning a Google stock is bad idea. It sounds like a legitimate question but in reality is an absurd one because it leaves out the most important detail. At what price? Price is everything!

    All you and the renters here are doing is speculating. Speculators, from my experience, always buy and sell at the wrong time because all they do is guess. Even if prices do go lower in 2011, speculators will speculate that it will go down further and continue to hold off then miss their chance. Same problem with now in 2009, you missed the low interest rates and who knows when they will come back down to the 4s again. Personally I hope they do come back, cuz I missed a chance to refi one of my properties. You are not only losing your rent money to a landlord, but you are also losing valuable time that you could've used to knock off your mortgage.

    As for only putting 20% down and people saying that they want to buy their homes outright– they are idiots. You never pay full price or more than 50% for a home, even if you can afford it. Pay the downpayment, then invest the rest of that money elsewhere and build even more from that money. That is called leverage and thats what good smart investors do. They use the system, they leverage their money and NEVER pay full price. If you have $800,000 and want to buy an $800,000 3 family house, u dont use all ur money on it to pay it all in one shot. You buy 3 or 4 of them, paying 20% down then rent it out, use the rent money to pay the mortgage hold and sell after 20-30 years. Use the rest of the money and invest that in a portfolio or start a business. After 30 years all your properties will be paid off by renters like the people here. You can sell them, give them to your kids, whatever. But don't tell me you're not coming out ahead.

    And for the people that are proud to have more than 1 car and paid it all off– a car is not an investment. Unless you buy an antique that you can sell for more than what you paid for, it is not comparable to owning a home. I have a car, it degraded in value the minute i drove it off the lot. Its great for vacations, going around, getting to work whatever. But I am not proud to own a degrading liability even when its been fully paid 5 years after I bought it with no chance of increasing its value.

    I have no problems with renters like you or others in this forum. I make money from you. I don't care if you terminate your lease early because another renter will take your place. All renters do is throw away their money and will never get it back. I will use your rent money to pay my mortgage. But don't try to tell me that owning a home is a bad idea. Owning your own home is NEVER a bad idea and 68% of America agrees. You will ALWAYS need a place to live in.





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  • amitjoey
    08-05 02:11 PM
    Good points, but let me put a counter argument. Two people , one is named SunnySurya and the other is named Mr XYZ. Both came to the USA at the same time in 1999. The difference was SunnySurya came here for his masters and the other guy came here through shady means.

    Mr XYZ was able to file his green card in 2002 in EB3 category based on his shady arrangements with his employer, whereas Mr SunnySurya continued to do right and socially acceptable things i.e. studied, got a job and then after several years this big company filled his green card in EB2 category in 2006.

    On the other hand after strugling for several years Mr. XYZ has collected enough years on his resume to be elligible for EB2. Now he want to port his PD

    SunnySurya's PD is 2006 and Mr. XYZ PD is 2002. Now if Mr. XYZ want to stand in EB2 line, I wonder what problems SunnySurya can have???:confused:



    GOOD POINT: IN my case Sunnysurya has EB3 even after waiting and doing the right things: ie: having a masters and all that. and MR. XYZ filed in EB2 with shady arrangements and got thru. so what does Sunnysurya do>?



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  • my2cents
    05-03 07:55 AM
    For 330K house, the calculations are probably splitting hairs. If it had already lost value to what the income in your area can support, then it is good time. But if it is still going down, I would rather buy a house at the bottom even if the interest rate gets higher. I can sell the house immediately without loss, if I have too.

    You think buying and selling a home a joke. You look on an average for 3-5 month to buy a home and one fine day u woke up and interest rate is high u plan to sell. This may be even possible only when u have bought house for pure investment.

    Once you move to ur first house with ur family. you will not sell ur house until u r forced to because of job/other extreme factors.

    Location is most important that any thing. It is very very localized. do u think manhattan house price went down..in fact it went up. Similarly DC metro area is relatively stronger compare to mid west.

    A bit of luck is always there in every single thing. Predicting bottom/peak is always challenge.

    One funny thing..people are planning how to sell before they even look for house to buy. lol..





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  • ss1026
    12-20 04:23 PM
    Every one I know (muslim or non muslim) is appaled by the Mumbai incident. A sensible person has to be. I do not know the sentiment in pakistan though I am sure there is a propaganda machine at work there. I have many pakistan collegues here and they were outraged. If this was an act, they are good it. This is similar to saying that most hindus were not appaled by what happened in gujarat/orissa.

    Silly as it sounds, there is no justification to kill innocent people. I read the mumbai attacked forum and was horrified what was said on both sides. Unfortunately, truth is usually the first casaulty in such incidents followed by been responsible and polite. I am sure words were exchanged from all sides.

    My hope or naivety is straigth forward. Lets stop the cycle of hatred and get the guilty to justice (tough justice if that is what is needed). India is destined for greatness and I believe it is time for a Justice system that functions without prejuidice or fear.



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  • amitjoey
    08-05 01:29 PM
    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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  • Macaca
    05-27 05:56 PM
    U.S. Must Adapt to China's New Patterns of Growth ( | World Politics Review) By IAIN MILLS | World Politics Review

    The global financial crisis catapulted China into a position of international economic leadership a decade earlier than Beijing's strategists had intended. That significantly increased the urgency of rebalancing the Chinese economy away from the low-quality, export model toward higher-value, domestically driven growth.

    One consequence has been new and accelerated patterns of Chinese trade and investment abroad. For the United States, China's largest economic partner, the implications of this new multidirectionalism are significant. But with recent figures showing that bilateral investment between the two countries is contracting, the U.S. must adapt its approach to this issue to ensure it benefits from the forthcoming chapter in China's domestic growth story.

    American investment and consumption were the two key drivers of China's economy in its early reform years. By the time the global financial crisis struck, China had amassed $2 trillion of foreign exchange reserves, and it has added another trillion since. The U.S. economy benefitted from cheap, inflation-suppressing Chinese goods, while China's absorption of American debt was a key facilitator of the pre-2008 credit bubble.

    Beijing seemed content to watch the coffers swell, while largely ignoring the need to rebalance the Chinese economy and devise strategies for making use of its mounting foreign exchange reserves. But the post-crisis collapse of investment and demand from developed economies has forced China to mobilize newly acquired national wealth to maintain economic momentum.

    China's overseas investment strategy was originally aimed at securing key natural resources. Recently, there has been a growing focus on importing advanced technology and machinery, particularly in "strategic sectors" identified in the 12th Five-Year Plan. International expansion is being led by increasingly cash-rich state-owned enterprises and their affiliates, with sovereign wealth vehicles such as China Investment Corporation and China Development Bank also adopting more active investment strategies.

    But early indicators suggest the U.S. is missing out on the first wave of new Chinese overseas spending. As one recent report on the subject notes, "the main event in 2010 was a flood of [Chinese] money into the Western Hemisphere outside the U.S., led by Brazil but also featuring Canada, Argentina and Ecuador." Last year, China's total nonfinancial outbound direct investment (ODI) jumped 38 percent, to $60 billion, even as Chinese ODI to the U.S. contracted slightly, to just less than $6 billion. Inversely, April's foreign direct investment (FDI) into China was up by more than 15 percent on the year, but American FDI dropped 28 percent.

    For China, the benefits of reducing asymmetric interdependence with the U.S. economy are clear, but it is less apparent whether the U.S. can currently afford to miss out on the huge opportunities presented by China's continued domestic growth and rapidly increasing overseas spending. Therefore, while the yuan remains a critical issue in bilateral relations, reaching consensus on the scale and scope of bilateral nonfinancial investment is an equally significant emerging topic. And although a series of diplomatic disputes in 2010 may have been partly to blame for depressed Chinese investment, the institutional arrangements of U.S.-China relations have generally failed to keep pace with China's rapid economic ascent.

    Nowhere is this clearer than in bilateral investment agreements.

    China is keen to expand its investments in the U.S. agricultural, natural resource, advanced manufacturing and financial sectors. But political resistance in the U.S. is high, and sources in Beijing claim that Washington is giving mixed signals over how welcome Chinese investment is. Chinese officials are seeking a list of acceptable investment areas from Washington and seem frustrated by the complex institutional arrangements of the U.S. political economy. Meanwhile, American officials have expressed concern about the security implications of Chinese capital, and a general lack of transparency on the Chinese side continues to exacerbate these fears.

    Clearly, resolving these issues requires action from both sides. Washington must accept Chinese overseas investment as an economic reality going forward and design a strategy capable of deploying it in support of the national interest. The politicization of the yuan has damaged Washington's credibility in Beijing; avoiding a similar degeneration of legitimate debate on investment parameters must be a strategic priority. Washington should consider mechanisms for targeting Chinese capital in areas where it is needed most, such as urban real estate development and manufacturing. These need not amount to a centrally imposed directory, as produced annually by Beijing, but rather a semi-formal consensus that provides some kind of consistent framework for prospective Chinese investors.

    Washington could also learn from the European Union's approach, which tends to maintain a greater distinction between ideological and economic policy differences with Beijing. Although the EU has the luxury of leaving political criticism to national governments, Brussels has been more low-key and consistent in discussions with Beijing on potentially inflammatory economic issues such as the yuan and China's "market economy" status. As a result, financial and nonfinancial economic integration between the two has increased substantially since 2008.

    For its part, China must accept that poor standards of domestic corporate governance remain a major barrier to future economic development at home and abroad. The credibility of Chinese companies is undermined by opaque ownership structures and a general lack of transparency regarding strategic and commercial intentions. Notably, over the past five years, there has been a direct correlation between total Chinese investment in a given country and the volume of failed deals, regardless of the developmental level of the host nation. Moreover, foreign investment in China remains heavily regulated. Beijing must accept greater liberalization at home before it can push the issue too far with international partners.

    Clearly, China has the responsibility to improve its domestic culture of openness and accountability. Greater and more symmetrical engagement with experienced capitalist nations can hasten this process while providing much-needed capital injections to the latters' ailing economies.

    For the U.S., the central challenge is to formulate more consistent and strategically constructive responses to China's economic rise. That would entail initiating a paradigm shift in Washington -- one that focuses less on "the China threat" and more on how to benefit from new opportunities presented by China's rise.



    GOP sees red over China (http://www.politico.com/news/stories/0511/55559.html) By Alexander Burns | Politico
    America And China: Finding Cooperation, Avoiding Conflict? (http://blogs.forbes.com/dougbandow/2011/05/23/america-and-china-finding-cooperation-avoiding-conflict/) By Doug Bandow | Forbes
    Henry Kissinger on China. Or Not.
    Statesman Henry Kissinger takes a cautious view of Beijing's reaction to the Arab Spring, and U.S. relations with the world's rising power. (http://online.wsj.com/article/SB10001424052748703730804576321393783531506.html)
    By BRET STEPHENS | Wall Street Journal
    Kissinger and China (http://www.nybooks.com/articles/archives/2011/jun/09/kissinger-and-china/) By Jonathan D. Spence | The New York Review of Books
    Henry Kissinger’s On China (http://blogs.cfr.org/asia/2011/05/26/henry-kissinger%E2%80%99s-on-china/) By Elizabeth C. Economy | Council on Foreign Relations
    General Chen’s Assurance Not Entirely Reassuring (http://nationalinterest.org/blog/the-skeptics/general-chen%E2%80%99s-assurance-not-entirely-reassuring-5351) By Ted Galen Carpenter | The Skeptics
    Go to China, young scientist (http://www.washingtonpost.com/opinions/go-to-china-young-scientist/2011/05/19/AFCY227G_story.html) By Matthew Stremlau | The Washington Post
    No go
    The Western politician who understands China best tries to explain it—but doesn’t quite succeed (http://www.economist.com/node/18709581)
    The Economist
    Europe Frets Over Trade Deficits With China (http://www.nytimes.com/2011/05/21/business/economy/21charts.html) By FLOYD NORRIS | New York Times
    China’s Interest in Farmland Makes Brazil Uneasy (http://www.nytimes.com/2011/05/27/world/americas/27brazil.html) By ALEXEI BARRIONUEVO | The New York Times



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  • satishku_2000
    05-16 06:39 PM
    Nowadays LCA becomes just a documentation and it does not prevent displacement or any abuse. It may be true that DOL may not have authority and resource to prevent abuse.


    You did not answer my question about why some one with permanent labor certificate has to go thru the process of advertisement process for H1B renewal?

    In my case DOL labor took almost 3 years to certify my labor certificate which states that I am not displacing any american worker. I think 3 years is a good time to find whether I am displacing american worker or not.

    This law simply goes too far in the name of preventing abuse. I just dont get why someone working for same company and whose GC petition is pending(GC labor approved) has to prove every year that he is not displacing an american worker.





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  • Refugee_New
    01-06 03:02 PM
    Israel is fully justified in responding to the rocket attacks from Gaza. How long can they show restraint by not responding to the unprovoked attacks. Do you think US will remain silent, if Canada were to lob rockets into US. Asbolutely not. Every country has the right to protect itself.
    Hamas is such a coward orgn that they hide behind school, mosque, hospitals to shoot their rockets, so they really are luring israel to bomb those areas. Unfortunately innocents die...the blame should be on hamas. In fact, before bombing Israel even goes to the extent of calling and texting people in the target area to warn them before bombing. which country at war you know does that. Inspite of all these the biased media portrays Israel as the evil one. time to think. if only india shows some courage like that.

    Another muslim hater who justify organized crime and killing and support the killing of innocent school kids and civilians.

    Hiding behind civilians and schools and mosques???? Don't you hear the same lie again and again year over year? If Hamas is using school kids as thier shield, then how do you think Palestenian people have elected the same people who cause their kids death rule their country?

    Don't you think?





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  • Gravitation
    03-25 01:25 PM
    Good Points. I like discussing real-estate; I'm deeply interested in it. So in that spirit of having a good conversation, here's my response:

    I completely agree that buying a house is a long term move. But I disagree with some of the points:

    1. Does rent always go up? No, my rent did not go up at all during the real estate boom as the number of ppl renting was low. Recently my rent has gone up only $75 pm. (love rent control!!!) So in 5 years, my monthly rent has gone up a total of $125 per month

    Real Estate market is always local. Unlike the market for -let's say- rice, which can be transported from one place where it's abundant to where it's scarce easily. Real Estate remains where it is. It's also subjected to a lot of local laws, municipal regulations etc. So, any discussion we have here will NOT apply to every single location. You have to research your own local regulations/market etc.

    If you have rent control, it significantly changes the picture. It usually doesn't make sense to buy if you have rent control.


    2. I hear about tax rebate for homeowners. But what about property tax?

    Yep, you pay it when you own a house. And yes, you pay it when you rent (it's rolled into your rent). The difference is that when you own, it's tax-deductible; if you pay it as part of your rent, it's not.


    3. What about mortgage insurance payments?

    You don't pay PMI, if you put down 20%. Not a bad idea to save that much. It forces one to learn financial planning and forward thinking.


    It is a misconception that 5-10 years is the cycle for real estate.

    Here's how in a sane real estate market the cycle should work:

    No population influx in your area or there is no exodus from your area:
    Your real estate ownership should be 25 years because that's when the next generation is ready to buy houses.

    However, in places like SF Bay Area/new York/Boston where there is continuous influx of young working ppl this cycle can be reduced to 15-20 years.

    Over the last few years, nobody thought of longevity required to make money in RE. Now that it is tanking ppl are talking about 5-10 years. Unless you are buying in a booming place, your ownership has to be 15+ years to turn a real profit.


    Profit/Loss is not what the primary residence is for.


    This is purely the financial aspect of ownership. If you have a family I think its really nice to have a house but you don't have to really take on the liability. You can rent the same house for much less. But if you are clear in your mind that no matter what I am going to live in XYZ town/city for the next 20 years, go for it.


    You can rent for less, now, but how about later? You're assuming rents don't go up, but they do. One of my neighbors pays $250 per month in loan payment for a house he bought 20 years ago (property tax and insurance adds $550 more). It was a big payment then. Now it's almost live living for free. If he rented this he'd by paying $2500 at least. Again, if you don't plan to settle down, don't buy. But owning your primary residence is the first step towards prosperity.


    As a sidenote for Indians. We all have either aging or soon to start aging parents. The way I see it, caring for aging parents is a social debt that we must pay back. This will need me to go back to India. Therefore, if you feel you need to care for your parents, don't commit to a house.
    Yes, if you're planning to go back... don't buy.





    Saralayar
    08-05 11:14 AM
    What a Bull Sh** ?? Are you saying that ppl who have applied under eb2 are the only ones who satisfy the eb2 criteria and eb3s can not satisfy the eb2 criteria ??? Come on ...this eb2 and eb3 thing is highly abused by lawyers, employers or employees .. I guess, you are in eb2 but I am sure if you go line by line of the law to recheck your eb2 eligibility, you might not even qualify for eb10,11, etc ....
    Well said. But in a little rude way.





    redcard
    03-23 05:20 PM
    Wow...that is a pretty harsh list. Is it possible for you to politely point out that you need to prove legal status from your last entry into the country on H1B and not go all the way back to 2000 giving contracts and all ?

    I think you are right.. its from the last lawful admission into the country to check the status. I am not sure if they can dig into your past beyond the last entry to US unless you have name check or other issue.

    Here is the document which clearly states for lawful status into US.

    http://www.uscis.gov/files/nativedocuments/245(k)_14Jul08.pdf


    You should be good incase you meet the requirement,



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