Friday, July 1, 2011

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  • nojoke
    04-08 05:35 PM
    Apart from location, area, school district and population etc,

    If you think the price of a house that you are looking to buy has come down to 2002 or 2003 price range, then i think you can buy. If not then one should wait.

    What do you guys think?

    The price may be right if it goes to 2002 level. But the way the economy is heading, I will wait for things to become more clear...
    It is not just happening in US. The housing crash started in Europe(UK in particular). It is going to be a mess and blood bath for a year or 2.




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  • satishku_2000
    08-09 01:21 PM
    Actually; I didn't think it was courageous at all. I had to practice what I preach.

    One of the reasons they ask for tax returns, w2's is they want to assess your intentions; if tax returns, etc. , is out of line with offered wage then it can make them think that it is not believable you will be doing that job once greencard gets approved.

    Once 485 is filed; you are in a period of authorized stay. At that point; you can sit around and do nothing; switch jobs, etc.; However; to keep working you need to have authorization (ie., EAD card if you don't hold H-1b).

    I didn't prepare my personal tax returns on purpose because uscis could have assessed my intentions differently. When I asked him why he wanted to see the tax returns for 2005 and 2006; even though I have unrestricted employment and I can do nothing if I please; he responded it was to assess intention. Since he saw I was self employed; if my tax returns were out of line with the offered job I was going to take upon greencard approval then they may not believe it.

    Now; I didn't give him any financial data for 2005 and 2006. Although this is legal; if I was going to port to self employment then he could have assessed whether I was going to become a public charge or how I was living in 2005 and 2006. I had all my financial documents (ie., bank balances, brokerage account); just in case he went down this road.

    he didn't but just in case he wanted to; I was ready for it.

    UN,

    Did you face any questions about "Same or Similar" in the interview particularly for the time period when you were self employed?

    Can you throw some light on how to handle the scenarios where the proferred wage is much lower than the current wage and once someone invokes AC21 the offered wage can be much higher . I understand that this scenario can be problematic in case of "future job" GCs.

    My understanding of AC21 is this .. Dont invoke AC21 unless otherwise absolutely necessary?




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  • unseenguy
    06-23 04:17 PM
    ca_immigrant, you have brought up good points and the sophisticated rent vs buy calculators are available online for free which anyone can run math in 10 mins. Rents are holding steady in CA, so calculations might play a bit differently in CA.

    First of all, 5% is not available today for 30 yr fixed, its more like 5.25%. Another attractive option could be 5 year ARM or 7 year ARM if you can make additional payments for the principal, it will significantly bring down the principal amount owed at the end of first 5 years if you make CONSISTENT (per month) additional payments.

    I live in WA, I searched MLS & zillow for recently sold homes, most homes are going for 15-20% less than owner asked priced. Avg 3 bedroom house price here is 500K.

    1. I do not qualify for tax rebate offered this year due to income level restrictions (spouse works)
    2. Rents in Seattle have fallen steeply. Last year (aug), I was searching for apartment, I was offered at 1600 or 1700. The same apartment is now going for 1450. Some have fallen more steeply upto 1200 of the same class. I can get a very good/posh 2 bedroom apt for 1050 USD per month in today's date if I move out 5 miles more. It was unthinkable in seattle area 1 yr back.

    As you said, monthly payment on a 500 K house comes to around 2750 USD, thats true even in seattle. Thats 1750 USD more than the rent or atleast 1500 USD more than the rent.

    The gamble would be to stay in 1050 rent house for 2 more years and save bigger nest for downpayment. And prepare for the prices to fall more. say 25% more.

    Even if I offer current owners 20% less , the math does not make sense for me. Hence I am expecting 30% -35% correction from current expectations of the owners.

    Dont get me wrong, the owners would still be making a profit on homes constructed before 2003 even if there were 30% more correction.

    One thing we all know for sure is , home prices are not about to go up spectacularly. Maybe 30-40 K up in 2 years from now. When you are thinking of 10-20 year deals, thats not a lot, its peanuts :)

    As of now, I am thinking of buying a nice car instead of a house, since I can talk down car owners equally and since my GC is in geopardy, buying a car for now makes better sense. :)

    As someone said we should consider luxury of a house. I have rented one townhome for 1500 a month for which my neighbour is making 2800 USD payment, go figure :)




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  • satishku_2000
    08-09 01:21 PM
    Actually; I didn't think it was courageous at all. I had to practice what I preach.

    One of the reasons they ask for tax returns, w2's is they want to assess your intentions; if tax returns, etc. , is out of line with offered wage then it can make them think that it is not believable you will be doing that job once greencard gets approved.

    Once 485 is filed; you are in a period of authorized stay. At that point; you can sit around and do nothing; switch jobs, etc.; However; to keep working you need to have authorization (ie., EAD card if you don't hold H-1b).

    I didn't prepare my personal tax returns on purpose because uscis could have assessed my intentions differently. When I asked him why he wanted to see the tax returns for 2005 and 2006; even though I have unrestricted employment and I can do nothing if I please; he responded it was to assess intention. Since he saw I was self employed; if my tax returns were out of line with the offered job I was going to take upon greencard approval then they may not believe it.

    Now; I didn't give him any financial data for 2005 and 2006. Although this is legal; if I was going to port to self employment then he could have assessed whether I was going to become a public charge or how I was living in 2005 and 2006. I had all my financial documents (ie., bank balances, brokerage account); just in case he went down this road.

    he didn't but just in case he wanted to; I was ready for it.

    UN,

    Did you face any questions about "Same or Similar" in the interview particularly for the time period when you were self employed?

    Can you throw some light on how to handle the scenarios where the proferred wage is much lower than the current wage and once someone invokes AC21 the offered wage can be much higher . I understand that this scenario can be problematic in case of "future job" GCs.

    My understanding of AC21 is this .. Dont invoke AC21 unless otherwise absolutely necessary?



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  • yrspassby
    08-05 06:41 PM
    Now worst thing is that Lion can not change his job profile till he gets the green card. He will be forced to act like a monkey so that it matches with his monkey job profile mentioned in his PERM application. All he can hope for is to invoke AC21 after couple of years to join a new zoo, that too on a similar job profile. :D:D Gurus what are the Lion's options at this point of time?? :D:D:

    Irony is that if our Lion stays in USA on monkey visa for couple of years, and finally goes back to India, his Lion skills will be obsolete, and Indian zoo's will not entertain a Lion acting like a monkey. Our poor Lion is totally doomed. :D:D

    I enjoyed both the original and follow-up. By the time, the lion gets the GC, he might have forgot he was a lion, and even after getting GC, he will continue to act like monkey.




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  • Macaca
    04-08 07:55 AM
    Some paras from Big money creates a new capital city (http://blog.washingtonpost.com/citizen-k-street/chapters/conclusion/index.html?hpid=topnews), By Robert G. Kaiser.

    The upward arc of his career also delineates the way money has altered Washington during the last three decades. Money has transformed American politics, the career choices available here and even the landscape of the nation's capital. Raising money has become a key to electoral success, while spending taxpayers' dollars has helped incumbents get reelected.

    Cassidy helped change Washington by shaping the culture of congressional earmarks that became so important in the last dozen years. Earmarks directly transfer the government's money to particular institutions and interests. He and his original partner helped invent the idea of lobbying for earmarked appropriations -- an idea that made Cassidy rich and fed a system of interdependence between lobbyists and Congress that thrives today.

    In a blog he launched this year on his company's Web site, which he used to respond to installments of this series, Cassidy offered a warning about the future of lobbying: "Our profession is at a critical point where we can either embrace the constructive changes and reforms by Congress or we can seek out loopholes and continue the slippery slide into history along side the ranks of snake oil salesmen."

    The first lobbying firms were established in the mid-'70s, just when Cassidy left McGovern's select committee on nutrition to begin his lobbying career. As the reach of the federal government extended into more corners of American life, opportunities for lobbyists proliferated. "The issues have multiplied," as Cassidy put it. Over these three decades the amount of money spent on Washington lobbying increased from tens of millions to billions a year. The number of free-lance lobbyists offering services to paying clients has grown from scores to thousands. Cassidy was one of the first to become a millionaire by lobbying; he now has plenty of company.

    The term "lobbyist" does not do full justice to the complex status of today's most successful practitioners, who can play the roles of influence peddlers, campaign contributors and fundraisers, political advisers, restaurateurs, benefactors of local cultural and charitable institutions, country gentlemen and more. They have helped make greater Washington one of the wealthiest regions in America.

    During his time in Washington, Cassidy said in one of many interviews he gave for these articles that the United States has experienced "a huge redistribution of income, and you can't blame just the Republicans, because it has happened through Democratic presidencies, and through Democratic and Republican congresses."

    So the rich have gotten richer, the weak weaker? "I refuse to argue the obvious. ... It's just true, largely because they have less representation. You look at the movements out there, there is no anti-hunger movement, there is no committee on the Hill looking into poverty." Representation, of course, is Cassidy's line of work. It is as old as the republic, but only in Cassidy's time has lobbying become the biggest Washington industry.

    This happened because lobbying works so well. Cassidy and his original partner, Kenneth Schlossberg, demonstrated its efficacy by devising ways to win earmarked appropriations from Congress for their clients, originally colleges, universities and medical centers. As Cassidy's clients began to win appropriations of $10 million, $15 million, $20 million and more in the 1980s, new lobbying firms emerged to compete with Cassidy. An increasing number of institutions and local governments looked for help to win earmarks of their own. The lobbying boom had begun.

    Incumbent members of the House and Senate complain that they have to spend a third or more of their working hours raising money for their next elections. To help with this task, lobbyists have become campaign treasurers and fundraisers for members and have been responsible for scores of millions in political contributions.

    Cassidy understands the low regard many Americans have for his profession but thinks it is unfair. "Lobbying is no more perfect than is the practice of law or the practice of medicine," he observed -- implying that it is no worse, either. He prides himself on his firm's "tradition of ethics and integrity," trumpeted on the firm's Web site. Since 1988, Cassidy's lawyers have given his employees annual ethics seminars.



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  • sri
    04-07 09:15 AM
    Where is it mentioned that they will not renew the H-1Bs?


    Green card is for convenience � H-1B status is for survival!!!!

    As you already know that anti-H1B lobby has introduced a bill that is designed to put most H-1B dependent employers out of business and most H-1B employees out of the country. This bill is designed to slow bleed H-1B program and systematically purge H-1B employees from the country.

    If we cannot stay in the US on H-1, then there is no possibility of a green card.

    Details of the discriminatory and impractical Senate bill
    Here is the link to bill summary:
    http://immigrationvoice.org/media/forums/Analysis_S1035.pdf
    Please see section 2(e) and section 2(f)

    Here is the link to bill test:
    http://immigrationvoice.org/media/forums/Durbin_Grassley_bill.pdf

    The original intent of Senate bill S.1035 seems to be to put in checks and balances on H-1B and L-1 program, with inclusion of some good provisions to empower H-1B/L-1 employees. Immigration Voice supports provisions to empower H-1B/L-1 employees. However, S.1035 is discriminatory against H-1B employees and H-1B dependent employers. The bill is designed to render H-1B program useless and impractical to follow. As an example: Even after going through the process of making sure that no able, qualified and willing person in US is available to do the specific job, �the best and the brightest� H-1B employees will not be allowed to do any Consulting!!!!

    Further, US business will not be bale to have more than 50% of their employees on H-1B. Some of these companies to very specialized research, development and consulting work. In effect, Senate bill S.1035 is forcing the companies manufacturing baby soap, tissue paper etc to drop their core competency to become experts in the sectors/areas where consultants provide their expertise to assist companies to successes.

    This discriminatory bill will have following effects:

    1.) This bill will hurt all sectors of the US economy, directly and indirectly.

    2.) In the short term, most H-1B employees (including medical doctors, research scientist, IT engineers and other highly skilled immigrants) providing consulting services will have to leave the country, thereby taking all the institutional knowledge to other countries.

    3.) In the long term, the bill is designed to promote outsourcing as most employers will be left with no other option but to look outside to find much needed human capital and talent. So this bill hurts competitiveness and is bad for US innovation and economy.

    Timeline and Urgency of this massive issue
    This bill is a VERY REAL threat. It is designed to be made part of the compressive immigration reform bill (CIR). We have learnt that CIR is on the US Senate schedule for the last two weeks of May and, in the House schedule for the month of July. So if we do not educate the lawmakers about this very real threat to the core concept of competitiveness and innovation, this discriminatory bill could become law as early as August of this year.

    What we have to do
    1.) This bill is discriminatory and puts unworkable restrictions on H-1B program. Please join Immigration Voice to oppose this bill in its current form.
    2.) Join Immigration Voice's efforts to oppose the bill S.1035 and educate the lawmakers to pass meaningful comprehensive immigration reform containing the provisions to end the massive employment based green card backlog.
    3.) If you are employee, employer or a lawyer, please take this threat very seriously and inform your organization, employer, colleagues, friends or anybody whom you feel should know about this discriminatory bill. Please request everybody to visit www.ImmigrationVoice.org (http://www.ImmigrationVoice.org) frequently for the latest action items and updates.
    4.) Please contribute to Immigration Voice TODAY and please send out SOS message to you friends, colleagues and employers to contribute and support Immigration Voice. We have very limited resources and desperately need everybody�s support.

    Please standby for more information and action items.


    -----------------------------------------------------------------------------------------------------------------
    Clarification
    -----------------------------------------------------------------------------------------------------------------
    There is going to be no difference whether you ...

    1. Renew your H1 at the same company by filing an extension,
    2. Transfer your H1 to another company by filing a transfer or
    3. File a brand-new cap-subject H1 for someone who has never been on H1.

    ALL OF THE 3 WILL BE AFFECTED.

    For all 3, you have to file the same form I-129 and you get the same 2 forms in return from USCIS : I-797 (and I-94 too unless its an H1 for someone outside USA).

    The first 2 ways are cap exempt, and the last one (brand new) H1 is cap subject.

    But the process is the same. Paperwork is the same. You have to file LCA that shows the address/location of work, nature of work, title, salary etc. So even if you are working at same company, when you file for extension, you have to file a new LCA, that has all information and all that information will DISQUALIFY you if the new law passed and those rules of "consulting is illegal, outplacement at client site is illegal" apply.

    Hopefully, this will answer some of the questions.




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  • pd_recapturing
    08-05 10:55 AM
    Rolling_Flood, great idea to benefit just U'r own GC cause. If you are positive about U'r logic why don't you go ahead and file a lawsuit. Looks like your true intention of creating this thread is to create a divide among IV members. Already members had a tough few weeks (in terms of unity) after the Aug bulletin. Now you are poking another rift.

    The EB classification is for a future job. Since the person is qualified, he ports to EB2 midway so what. The GC is for a future job, and when the person gets his/her GC, he/she is qualified for that position at that time. So what is U'r logic??


    If you want to truly fight the system them fight for a common basis for EB classification. There are cases where the same job title has been classified under all 3 categories. Example

    Senior Programmer (say Bachelor's with 5 yrs exp)

    Files under EB1 : because he/she came L1, qualification might be few yrs exp.
    Files under EB2 : because he/she has 5 yrs of exp and the attorney was smart to classify it as EB2.
    Files under EB3 : because of company policy or based on bad attorney advice (conservative approach).

    The above example shows that if U'r company and attorney is smart U can get U'r GC faster.

    If you are keen on doing a lawsuit why not
    File one against USCIS for wasting thousands of visa's over the past few years, which is the source of this backlog.
    Or file one against DOL for taking n number of years to get the LC done.
    Or file one against 245 filers who clogged the USCIS system which is causing USCIS to be inefficient.
    Man, you hit the nail on the head !!! Thats precise the point, I was trying to say in my last post (somewhere on page 1) ... The whole eb2/eb3 qualification, job requirements etc can be rigged easily by employer/lawyers ...There is no black and white in this game ..



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  • newbie2020
    08-31 07:30 AM
    Here is a nice one...

    http://www.youtube.com/watch?v=_OBlgSz8sSM




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  • walking_dude
    09-30 10:05 PM
    I haven't see any indication McCain is any better for EB immigration. He has no stated position on the issue. At least Obama has a public position which is pro-EB. After seeing McCain fail to get Repubs to vote for Bailout, I am not convinced he will be able to push anything controversial such as CIR through a Democratic Congress. At least if Obama is President, and with a Democratic filibuster-proof Senate, there may be a chance of a breakthrough.

    Besides if McCain keeps spending trillions of borrowed dollars in Iraq for the next year, it doesn't matter if we get GC or not. We will be seeing a mother of all economic crises in a few more years.

    So our only chance lies with Obama. I think we should all write to him about our issues once he becomes the President. If enough people write to him he may be more sympathetic to our cause.



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  • logiclife
    07-17 10:42 AM
    Those of you who dont know, Randall Emery is a good friend of Immigration Voice.

    Previously he has helped some of the 485 applicants on this forum who were stuck in name-check process. Randall helped us arrange a meeting with a lawyer that he had hired for his wife's immigration quagmire when her greencard was stuck in namecheck.

    Randall has repeated supported immigration voice as he himself was unaware of the problems in legal immigration until he married a foriegner. He has provided support, advise and tips and offered to help us.

    Everyone:

    Please make sure you dont accuse people just because you think or feel someone is not friendly. At least take some pain and read previous posts of the person to make sure you dont engage in friendly fire.




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  • chanduv23
    05-16 06:09 AM
    What if they give you all a chance for applying 485 and retaining PD before they ban h1b consulting??? I guess, you all will be happy with Durbin adn Grassley ;) ;) ;)

    The h1b system was designed to create brain drain in developing nations and bring them to America, but because of the implementation methodologies the opposite is happening, good people are either moving back or not coming or stuck with an employer which is not good for the economy.

    America gains nothing by banning h1b people - I am sure some provision will be there to protect people and get a fair chance towards imigration even if consulting etc.. practices are modified to work in correct methodologies.



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  • unitednations
    03-24 02:59 PM
    Unitednations,
    I read your replies and it seems you are ignoring some facts and are forming a one sided opinion.

    -----------------------Not really; i have much more knowledge on this then everyone on these boards. I'm just hesitant of giving very specific examples as it will give some people more information then they need to know.

    - Why did USCIS allow labor substitutions? Why did it take them so long to stop it? Why did they wait until after July 07 to stop it. Were they not allowing people to use this back door and lawyers to make money?


    ------------------labor subsitution issues seemed to be confined to a specific industry, specific people. People thought retrogression was going to go away. Did it go away? Main issue with EB is more people then # of greencards available. It may change the ordering but not the number of people going for greencard.

    - If consulting is a problem, what were they doing in the past few years? What are they doing now? Do you think just a few raids once is enough to stop the problem? Why can't they enforce their own laws so that they punish the companies and not the immigrants.


    ------------------------------------they are your sponsorers. They are the reason why you are here. Without them; you are not here. If they are not following the laws the way uscis wants then they will make it difficult for them. They are going hard after them to directly go after you. Don't you guys understand that?



    - Why is USCIS making paperwork difficult. Why can't the system be simple like Canada or Australia so that we can do our own paperwork? Why are lawyers in the picture?


    -----------------------------Those systems are designed becasue they want people there. USA system is not designed for this. Increasingly; it is becoming apparent that uscis/government is becoming hostile towards immigration. Once; they determine they actually want people here then they'll make it easy.


    - If they find problem in consulting, why are they not going after Tata, Wipro etc. Don't tell me these companies are clean?

    --------------------------------------who says they are not going after them. they are all getting a healty case of denials. Main issue is they are thinking there is fraud in IT. IT is dominated by people from India. Kill staffing companies; then you kill h-1b.


    - Why is USCIS so disorganized without good IT. Do you think other agencies are also same? Do you think USCIS does not have enough money?


    ---------------------------------------Problem is that with the myriads of laws and USCIS discretion in following laws; there is no perfect IT system since much of it is related to adjudicator discretion.

    - Why can't they ban DV lottery? But go after H1Bs. You will say to do that law must be changed. But at least go strict on whom you approve once they are selected in the lottery. Are they not bringing lot of criminals, fanatics, unemployed and uneducated poor through DV.


    -----------------------no idea. I do see that people talk about "highly skilled". There is no definition of "highly skilled" in immigration. Skilled worker is job that requires two years of experience. I bet just about every person coming through DV or family base would meet the definition of skilled worker in employment base sens.

    - Why can't ICE do their job of enforcement and round up illegals. If they were strict we will not have so many illegals or the problem of illegals.

    ----------------------who says they are not. It is just a different perspective of what people think they should go after. Right now DOL is visiting consultants at their end client locations and interviewing them.

    The questions will go on. But you need to step back and think more from the perspective of a applicant waiting for his GC or H1B .

    I was one of you and I mainly deal with many of you guys. Unfortunately, people want to come into this country in many different ways and just because we want to; doesn't mean they are going to let us.

    btw; see --------------------------------for my comments.




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  • JunRN
    06-07 01:39 AM
    Have you done your math ? Granted those $250 looks chump change for you, but what if it was invested for a return of 5% while the house may not be back at sales level for another 10 to 15 years ?

    No one will argue with you about buying a house for yours kids pleasure though.

    If you look at the details I posted, only $1050 goes to interest, insurance, and taxes. $400 goes to the principal. So, compared that to my $1200 rental, it is still wise choice. Isn't it?

    As per Zillow estimate, the value of the house I bought already appreciated by $10k above the purchase price.

    For the sake of discussion that it did not appreciate in the next 10 years (which I doubt because there's no other way to go but up) but the value stayed at purchase price, as per my amortization schedule, my loan would be at 75% of the purchase value. It means therefore that I already have a 25% equity of the house, which is $60k.

    If I saved the $250 per month at zero interest, I would have $30k. I don't know where you can find 5% interest p.a. investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.



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  • sugaur
    01-06 11:51 PM
    For all who think "Fatah" is more moderate than Hamas, heres a part of the constitution of Fatah:

    Goals

    Article (12) Complete liberation of Palestine, and eradication of Zionist economic, political, military and cultural existence.


    Article (13) Establishing an independent democratic state with complete sovereignty on all Palestinian lands, and Jerusalem is its capital city, and protecting the citizens' legal and equal rights without any racial or religious discrimination.

    "Eradication" of the Jewish state., their culture and there economy. Heres a movement which has "Genocide" as its constituional goal. How the hell do you negotiate with such people? Israel needs to be supported in its noble actions of self defense againt such fanatics.




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  • nojoke
    04-07 04:44 PM
    I firmly believe in the Contrarian Theory. When speculators run, its time to get in and BUY. I owned two homes and I am in the process to getting a third one. I would be a good candidate for those TV shows on HGTv/TLC. I buy a home build equity(through appreciation) and flip. This will get me closer to my DREAM home. I cannot see myself in a home for more than 5 years.

    The inventory glut in (SF Bay Area) is not desirable, they talk about east contra-costa and south Santa Clara but there are not much available in core bay-area. The inventory is basically non-desirable.

    Simple math, just estimate the number of immigrants that will be ready to buy a home in SF Bay. Just look at the inventory in desirable neighborhoods. They dont match.
    Stretching (financially) yourself is always uncomfortable but it can reap you huge dividends. If you are not comfortable, then I would say keep aside monthly payments that would cover 6 months and your home should be sold incase you need to get out of it.

    No other investment in US(for individuals) is as leveraged as homes/real-estate. You invest 5% and reap the benefits(or losses) of the rest.

    You sound like a realtor. Do you know all those flipping shows in HGTV/TLC are staged? Anyway here is the real story about where investment in housing is heading. There are thousands of real stories like this in the newspapers.
    -----------------------------
    “Pamela Khamo began a career as a real estate agent in 2002 after selling her La Mesa coffee shop. By 2005, her annual income swelled to $360,000, according to bankruptcy records.”

    “Khamo had begun buying investment properties a year or so earlier. In all, Khamo ended up with 13 properties at the peak, she said. Income from renting the properties fell well short of covering the mortgages. But the commissions she earned on the purchases helped offset the rental shortfall, she said.”

    “Things started to unravel early last year. The slumping real estate market cut her income in 2007 to $180,000, bankruptcy records show. She became ill for a time. Meanwhile, her adjustable mortgages started to reset…sometimes doubling her monthly payments.”

    “Khamo scrambled to refinance. She sought loan modifications from banks. But lenders had tightened standards. They wanted more equity in the properties than Khamo had, she said.”

    “‘I did buy at the height of the market, unfortunately,’ she said.”

    “Khamo filed for bankruptcy in February. She has lost the bulk of the properties to lenders already, according to county deed and bankruptcy court records. She expects to lose all of them. The East County home in which she and her husband reside has been taken back by the bank – although the family still lives there for now, she said.”

    “‘It took six years to build everything up and six months to lose it,’ she said.”



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  • nojoke
    05-04 02:13 PM
    House...forget it......


    It will never reach those highs again...

    In US..RE is done.

    Not 485...look at the number of foreclosures.....and inflation.....

    untill the war is over...forget...

    I saw a news article that says Bangalore real estate is down 20% this year. And another one that says Delhi is down 20%. What happened in India is also a part ponzi scheme. All the NRIs buying at whatever prices. How can any local guy afford at those prices:confused: Unless inflation goes sky high and wages multiplying to catch up with the inflation.
    If I buy a flat in Bangalore at 50 lakhs and expect 15 thousand for the rent, it comes to 2 lakhs approx. a year return. If I do a fixed deposit in the bank at 10% interest, I get 5 lakhs return. I can rent for 15 thousand and invest the 3 lakhs back into a fixed deposit. Over the years, flats depriciate and in 20-25 years it will be close to valued at nothing. Where as a wise investment in the bank would have multiplyied by 4 times. :(




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  • Macaca
    12-30 07:04 PM
    India expects quick solution to Iran payments issue (http://in.reuters.com/article/idINIndia-53843720101230) By Nidhi Verma and Ratnajyoti Dutta | Reuters

    India will try to resolve a payments dispute with Iran when their central banks meet on Friday to keep oil shipments flowing from the Islamic Republic without backtracking on a move praised by the United States.

    The Reserve Bank of India (RBI) said last week deals with Iran must be settled outside a long-standing Asian Clearing Union (ACU) system and Iran has refused to sell oil under the new rules, threatening about $12 billion a year of exports.

    The White House, which wants governments to stop dealing with Iran because of its nuclear programme, on Wednesday praised the RBI's move, which comes less than two months after President Barack Obama visited India.

    But India, Asia's third-largest economy, buys more than 400,000 barrels per day of crude oil from Iran -- about 13 percent of total imports for the fast-growing economy.

    Without a solution, its refiners would need to find alternative sources of oil at a time that international crude prices are near two-year highs and the country's inflation rate is painfully high and rising.

    "We are working on an alternate settlement mechanism. It is being discussed at length with the Ministry of Finance and a solution will be found in the course of the next few days," Indian Oil Secretary S. Sundareshan said on Thursday.

    Both the Indian government and the RBI, which has so far acted unilaterally in the ACU, suggested it was a broader problem, stepping back from a move which seemed allied to the United States and targeting Iran.

    "The Asian Clearing Union mechanism ... is under some stress and RBI wants to make changes," Sundareshan said.

    FINE-TUNING, NOT SEA CHANGE?

    "Iran is an international problem. We have to find out a solution. Please understand it is not India's problem, it is not Iran's problem," RBI Deputy Governor K.C. Chakrabarty told reporters in Bangalore on Thursday.

    Among options to rescue oil trade between the two near neighbours is settlement in Indian rupees, similar to South Korea's method of payment to Iran in Korean won, or another currency outside the dollar and the euro of the old mechanism.

    "It can be any currency. It could be yen or (Iran's) local currency," Sundareshan said.

    Analysts and political observers said India was fine-tuning its stance with an eye to ensuring its access to much-needed oil and protecting its interests in the region and the Middle East.

    India, which has U.S. backing for its bid for a permanent place on the U.N. Security Council, has voted against Iran on its nuclear programme at the International Atomic Energy Agency while Iran has made statements supporting an insurgency in Indian Kashmir.

    "India is seeing itself as a 'major responsible power' and it is aiming to be in concert with the other major responsible powers like the U.S., European Union, Russia and China," said Uday Bhaskar, director of the National Maritime Foundation think tank.

    Former Indian foreign secretary and a former ambassador to the United States, Lalit Mansingh, said India wanted Iran to understand it had "a nuanced position".

    "We have been saying, don't force us to make a choice. But if it comes to a choice, we have far more at stake with the U.S. than with Iran," he added.

    But India, seen alongside China as an engine to pull the western world out of economic idling, has no desire to be seen by neighbours as playing a U.S. tune.

    "America should not read too much into this. India is not an ally, in the sense it has not signed from A to Z. On nuclear issues, it can go with the U.S., but on energy it will go with Iran," said P.R. Kumaraswamy, head of West Asian studies at New Delhi's Jawaharlal Nehru University.



    Iran, India oil row escalates; c.bankers to meet (http://in.reuters.com/article/idINIndia-53831720101229) By Nidhi Verma and Ratnajyoti Dutta | Reuters
    India Joins U.S. Effort to Stifle Iran Trade (http://online.wsj.com/article/SB10001424052970203513204576046893652486616.html) By JAY SOLOMON And SUBHADIP SIRCAR




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  • reedandbamboo
    06-07 04:03 PM
    Investment strategies of any kind - options, stocks, etfs failed miserably in the past couple of years. I dont think that argument stands well to justify against buying a house.



    I have not opined as to the relative merits/demerits of house-buying .. all I did was mention that it is possible to attain those kinds of returns in alternative "investments" (in response to Jun's statement that he/she wasn't sure if 5% returns per annum were available anywhere).




    niklshah
    01-07 10:35 AM
    Those who said, Hamas was hiding inside school and firing rockets, go check the fact in CNN.

    U.N. 'sure' no militants at school hit by Israeli troops

    http://www.cnn.com/2009/WORLD/meast/01/07/israel.gaza.school/index.html

    Human sheild, hiding in hospital, hiding in mosques, hiding in school - All are big lie and bullshit. Just to justify the killing of innocent lives.


    oh every one saw your link u sent, did u see CNN when they were showing mumbai killings.. Palestine and Israel are fighting for land and occupation but what was fault of people in mumbai??? think hard man if this war needs to be stopped it has to be stopped from all the sides u cant blame single community or nation for this..........




    dontcareanymore
    08-05 01:37 PM
    And Sir dontcareanymore, who are you to show people out.

    Please calm down, its ok if someone has ideas that donot match 100% to your ideas; your decency is in letting people speak and hear them still.

    friend.....Donot get angry, please.

    what a pity, we donot let anyone talk, speak unless they agree with us and we call ourselves educated, democratic....voice of immigration....
    may i dare say ...."we are not even close"..

    lets not fight, please. I am not blaming you sir, but the action. so please
    donot blast me, i know you are a wonderful person; i am blaming the action not you.


    You can't generalize everything. Do you care to show how this is as bad as labor substitution ?
    How about comparing the actual job duties of all EB2s and EB3s ? Not just what their lawyer says.

    Rules are made with good intentions and it is people that misuse them. But for the desi sweat shops selling labors , even the labor substitution has some merits in some cases (Again Not all).

    Again , I don't really care what happens with this law suite (even if that happens). Just wanted to impress that there are very good number of legitimate cases where the PD porting makes sense and it is required.



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