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  • masaternyc
    05-13 05:12 PM
    I heard many stories that consultants are selling labor certifications and this lead to a big back log.... people who were last in the line are in front of the line now....consultants created a business from these labor certifications and are making lots of money...its fair for the government or uscis to apply this bill and control this black business....




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  • nojoke
    04-14 02:05 PM
    It is not going down everywhere...I am in a location where people are buying houses like mad and the prices are actually better than last year.

    And yet, some people in my location are thinking about nothing but resale. They are not able to see a home as anything other than an investment and I am referring to such people in my earlier post.

    Where do you live? Give it time...




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  • posmd
    07-08 04:56 PM
    Nice to hear you are still in the background UN.




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  • kaisersose
    04-15 04:43 PM
    one last addition ..I guess builders are normally the optimistic lot even when things are bad ..and they seem unhappy now (which means happier days are ahead for fence sitters like me (who are waiting for a GC by the way before looking)
    http://www.cnbc.com/id/24129427 ..

    ----------
    Fitch Ratings said in a conference call Tuesday that the housing sector is likely to continue to contract throughout 2008, and could worsen further in 2009 if the economy slides into a sharp recession. The ratings agency said low mortgage rates, cheaper home prices and government proposals to aid the ailing industry will not be enough to spark a turnaround.

    "Despite a few steps in the right direction, U.S. housing remains mired in a steep cyclical decline, with more pain likely for U.S. homebuilders through 2008," said Fitch homebuilding analyst Robert Curran

    I suggest you stop looking at national level figures if you are seeking accurate information. Look at the specific neighborhood you have mind and you may find that the situation there is not exactly what is shown on CNN.

    As an example the DFW area is doing alright inspite of the gloomy picture painted by the media at the national level. Used homes will take longer to sell, but it is nowhere as bad as Florida or CA. And we are not discussing selling here anyway...we are discussing buying.



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  • file485
    07-08 09:24 AM
    Please post URL of this file. Thanks!

    googled it and found the link..it might be helpful to many folks..

    http://www.ilw.com/seminars/august2002_citation2b.pdf




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  • hiralal
    06-25 10:48 PM
    Just as an example, this may be an anomaly, but I know this Australian Indian citizen, who has recently bought 2 houses in the LA Valley and is having no issues filling them with contractors so far (1 my friend), even in this economy. He works on SAP projects traveling on H1 , but is in Aussie land most of the time, with his family. The rent more than pays off his mortgage.
    I have only one sentence to say ..watch the movie "pacific heights" ..I was watching it now and that is a perfect movie for those who intend to rent their homes.
    (ofcourse it is just a movie ..but very interesting, worth watching for everyone and gives you some knowledge too. what you have mentioned is the best case scenario ..the movie is the worst case scenario. as always, reality is somewhere in between).
    personally there are better ways to make money ..for me diversify is the key word ..(rather than everything in real estate or everything in stock ...and yes, you need to watch the money you have like a hawk (and that is difficult when you give your house on rent ..for eg how do you find out if only the tenant's family is living there - or whether he has sub leased to 2-3 families etc etc)



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  • fedex_uscis
    03-23 10:03 AM
    Buy home at 82,marry at 68.USCIS will never change, this Barack Obama will be stuck in name check.I am sure he will get stuck in FBI name check. AILA should apply GC for Barack and see where it goes?




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  • bfadlia
    01-08 11:07 AM
    guys i give up..
    i'm struggling with a conversation where people understand the opposite of what i post, or give red dots because they can't differentiate between what i say and what i quote from others..
    i'm out of here.



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  • thakurrajiv
    04-06 09:35 AM
    I think you missed my point. I was not trying to connect the ARM reset schedule with write-offs at wall street firms. Instead, I was trying to point out that there will be increased number of foreclosures as those ARMs reset over the next 36 months.

    The next phase of the logic is: increased foreclosures will lead to increased inventory, which leads to lower prices, which leads to still more foreclosures and "walk aways" (people -citizens- who just dont want to pay the high mortgages any more since it is way cheaper to rent). This leads to still lower prices. Prices will likely stabilize when it is cheaper to buy vs. rent. Right now that calculus is inverted. In many bubble areas (both coasts, at a minimum) you would pay significantly more to buy than to rent (2X or more per month with a conventional mortgage in some good areas).

    On the whole, I will debate only on financial and rational points. I am not going to question someone's emotional position on "homeownership." It is too complicated to extract someone out of their strongly held beliefs about how it is better to pay your own mortgage than someone elses, etc. All that is hubris that is ingrained from 5+ years of abnormally strong rising prices.

    Let us say that you have two kids, age 2 and 5. The 5 year old is entering kindergarten next fall. You decide to buy in a good school district this year. Since your main decision was based on school choice, let us say that your investment horizon is 16 years (the year your 2 year old will finish high school at age 18).

    Let us further assume that you will buy a house at the price of $600,000 in Bergen County, with 20% down ($120,000) this summer. The terms of the loan are 30 year fixed, 5.75% APR. This loan payment alone is $2800 per month. On top of that you will be paying at least 1.5% of value in property taxes, around $9,000 per year, or around $750 per month. Insurance will cost you around $1500 - $2000 per year, or another $150 or so per month. So your total committed payments will be around $3,700 per month.

    You will pay for yard work (unless you are a do-it-yourself-er), and maintenance, and through the nose for utilities because a big house costs big to heat and cool. (Summers are OK, but desis want their houses warm enough in the winter for a lungi or veshti:))

    Let us assume further that in Bergen county, you can rent something bigger and more comfortable than your 1200 sq ft apartment from a private party for around $2000. So your rental cost to house payment ratio is around 1.8X (3700/2000).

    Let us say further that the market drops 30% conservatively (will likely be more), from today through bottom in 4 years. Your $600k house will be worth 30% less, i.e. $420,000. Your loan will still be worth around $450k. If you needed to sell at this point in time, with 6% selling cost, you will need to bring cash to closing as a seller i.e., you are screwed. At escrow, you will need to pay off the loan of $450k, and pay 6% closing costs, which means you need to bring $450k+$25k-$420k = $55,000 to closing.

    So you stand to lose:

    1. Your down payment of $120k
    2. Your cash at closing if you sell in 4 years: $55k
    3. Rental differential: 48 months X (3700 - 2000) = $81k

    Total potential loss: $250,000!!!

    This is not a "nightmare scenario" but a very real one. It is happenning right now in many parts of the country, and is just now hitting the more populated areas of the two coasts. There is still more to come.

    My 2 cents for you guys, desi bhais, please do what you need to do, but keep your eyes open. This time the downturn is very different from the business-investment related downturn that followed the dot com bust earlier t his decade.
    Jung.lee very good second post from you. People still think it is very easy to keep on holding onto your home for long time till turn around happens.
    But life events can cause you to sell like
    1. Job loss and not able to find job in the same area till back up money runs out.
    2. Kids grow up and you need to pay for college and you have little saving as you are holding to see turn around
    3. Hope not but some medical emergency.

    There can be many more situations. Do you know what people are currently doing in these situation ?
    Get money from Home equity ATM machine !!

    Personally I will be scared to buy now as my payment will be more than 50% of my salary and any of above situations will cause me to sell.
    The prices have to become saner ....
    This is very different from anything we have seen. Wall street will change, money will be harder to come by.
    I think time to say " Welcome savings again ". Long term very good for US as country.




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  • GCapplicant
    07-14 04:38 PM
    Because when Eb3 ROW were getting approved they had no personal friends getting approved but suddenly now with Eb2 India moving forward they know people who will get GC soon and this hurts, when then see these people (friends) in temple or get together who will be (soon) GC holders and so this cry of fowl play comes in behind the mask of anonymus user id a vieled attack



    Comments like heartburn ,jealousy over friends in EB2 does not sound right.There are my friends who have learnt from my mistake.

    Its neither appropriate to exclaim like this.Whateverthe case may be it is ofcourse injustice to EB3.

    Your reactions for the frustrations of EB3 is really the worst part you are doing for your own community.

    Why were you silent when EB3 Row were receiving ? Did you know at that time the vertical and horizontal interpretations.Bringing out the problem when its over is of no use either.

    Great ! Very nice wonderful own kind around.You want your GC right ,dont worry.

    This shows nature,when own kind dont respect others neither will outsider.



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  • gsc999
    04-06 11:32 PM
    Certain provisions of this bill will create unnecessary hurdles for many H1_B visa holders and employers.

    Thanks for highlighting. Lets take appropriate action.




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  • amsgc
    08-08 11:44 PM
    .



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  • kedrex
    12-27 04:48 PM
    I myself am originally from Mumbai so please dont doubt the deep sense of outrage that I feel. But amid all this talk about going to war, here are a few things to ponder

    1. Think about how long it takes to construct a single runway of an airport. In the developed countries, it takes about 2-3 years, for India safe to say 5-6 years. One of Paki's first responses would be take out entire airports not just runways. Can you imagine how long it would take us to recover

    2. Why should India kill Pak when it is killing itself every day. At this rate, just imagine how long this country will last. Sitting back and being a spectator could just about be the best option

    3. If we are outraged by 200 civilians/police/NSG dying, do we really have the stomach to absorb 1000s, lakhs ........

    4. Talking of "surgical strikes" - surgical strikes on what? Even the dumbest terrorist knows that its probably not a good idea to be in a terror camp right now.

    5. Do we really want to unite all those crazy Punjabis, Balochis, Taliban and the Paki army

    6. Ok, what about assassinating Kayani. Wonderful, we have destroyed the last institution in Paki land. Get ready to welcome millions of refugees

    I know I know that I am not coming up with any good course of action, just pointing out the flaws in the rest of them. But thats all my layman's strategic vision gives me. Maybe with just 1/100th the cost of war, we can improve our border/maritime security and also our intelligence apparatus

    Personally, I think war is going to happen. I just wish people even remotely understand what it is that they are asking for.




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  • sw33t
    12-27 10:29 PM
    One thing everyone needs to realize is that 21st century wars are not cheap anymore.

    India just decided to implement the 12th pay commission's recommendations to its defense forces. A surgical strike is politically a risky venture. A strike may cause immediate gains and soothe tempers of the indian public but the battle will be fought through the media reports. Also, neither does the country have a national identity system nor has India been so serious about reaching out in a pro-active way. A weak border and the continuing saga of the rich getting richer and the poor getting poorer, not to mention caste based politics, will augment future terrorist plans.

    Pakistan has found a money maker in terrorism. US Aid to pakistan to fight terrorists will reach $8B after 9/11 ( http://www.americanprogress.org/issues/2008/08/pakistan_aid_numbers.html ) and more will be promised when the Iraq returns to stability and the focus turns to Pakistan's neighbor Afghanistan as the Taliban are gaining control again. This has been acknowledged by the new president-elect. Zardari's snub to curtail recession by the Chinese and the Saudis only solidifies Pakistan's need to find other sources/means of making money. Providing a conduit for drug trafficking for the Afghani market is already a major revenue source. Corruption is rampant.

    I believe that the rhetoric in the media about war mongering and troop pullouts from the afghan border are for think tanks in Congress and the Pentagon to act and work to defuse the so called drama of war and renew their promises of providing aid in the form of $ and arms.

    India has and will continue to be a peaceful and a reactive neighbor. It will continue significant investments in capital and policy to strengthen its internal security foundation and work towards economic prosperity by defending its borders rather than be a pro-active regional cop.

    What India has gained, out of this sad and unfortunate event and its subsequent actions, is its status as a responsible upcoming super power in the region with diplomacy as the arrow and its nuclear capability as its bow!



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  • senthil1
    04-07 12:05 PM
    Will 115k enough by seeing 133k applications in one day? If 115k is reached we will ask unlimited. So there should be some system to see whether those115k H1b is used properly. Employers should not wait till october and they should get people when they require. If most of the H1b quota is used by bodyshoppers where will top US companies get?

    How do you find H1 quota to be "unlimited"? And how is this bill going to prevent "unlimited numbers" that did not exist in the first place? I thought S.2611 and HR1645 propose to increase H1 quota to 115K, from the existing 65K H1b/yr. Does this increase make H1 quota "unlimited". I am ignorant about it, could you please help me understand.




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  • panky72
    08-08 10:39 PM
    HERE COMES THE BEST JOKE OF THIS THREAD

    I got a RED dot for this post.

    Comment - "Racist Joke".

    I also got a red dot for my joke:confused:. Never used any foul language. Comment left was "This type of "blonde jokes" or "sardar jokes" etc are not really suited for a skilled immigrant community forum." I don't understand why do people give Red dots even for jokes. The title of the theread is Ligthen Up.



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  • chanduv23
    04-12 04:43 PM
    Many/most of us here have worked like crazy dogs most of lives, followed the rules, and played by the book. "Everyone" does not have your cavalier attitude towards truth.

    My problem is not with consultants or nurses or doctors or magicians or whoever else is in line. My problem is with those who claim to be legal aliens but who routinely break the rules (by indulging in kickback schemes like splitting their salary with their employer).

    IV is a community of/for legal aliens wanting to become legal immigrants. Rule-breakers and others don't belong here; just because one hasn't been caught cheating the system doesn't mean one is legal.

    Can you clarify what you mean by "splitting salary with employer" and what does that have to cheating the system?




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  • Pineapple
    12-24 03:21 PM
    What a tiresome thread!!!

    Several years ago, people actually made an effort to make IV an organization representing all skilled workers, from all parts of the world. Now, immigration matters are totally irrelevant on the forums. Heck, forget about being an exclusively India focused forum, as this thread demonstrates, it is a venue to vent on matters even more narrowly focused - My religion, my sect, my opinion, my petty prejudices. If this is not irrelevant enough, we have enough threads on red dot-green dots to justify a whole separate category of forums :rolleyes:
    Anyway, it does a pretty good job of turning off people. I guarantee you this thread alone has contributed significantly in influencing many planning on attending the March rally to change their mind. It sure did mine.




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  • eb2dec2005
    08-22 11:57 AM
    Little Johny's first day in pre-school, the teacher gave a little test. She asked the kids to close their eyes and stick the tongue out. She then put honey drops and asked them to guess what it is. When no one was able to, the teacher decided to give a hint.

    "children, its how your mom calls your dad.. well, most of the time anyways"

    On hearing this, Little Johny screamed, "SPIT IT OUT GUYS... ITS A** HOLE"


    I really cracked up reading this joke. :)




    raj2007
    04-07 11:39 PM
    Desis who come here are all engineers and well educated. I couldn't believe that some of them are falling for the realtor tricks. I know someone who last year paid 200K more on an advertised price of 1million. He said the realtor told him that there was bidding war and he kept rising it and eventually got the house for 1.2million. What stupidity. Doesn't he know about phantom bids that realtors use to jack up the price.:( This is last year end when housing here started crashing. I asked him how he is going to pay when his arm resets. He says he will refinance. God save him.

    They are well educated but not street smart. Realtors are same everywhere and they know, how to misguide.




    SunnySurya
    12-22 09:53 PM
    Shuyaib saheb ASAK and welcome to 21st century.
    And by the way thanks for enlightening us on the hindu scriptures, these are news to us.

    Its a known tendency of hindu groups of radicalizing muslims, so much so that Jinnah took into consideration and formed pakistan.

    Still the hindus will target an abominal act of 11 people and make a community of muslims, a country victim of their acts.

    Yet, even if a hindu preaches infanticide of girls, he is not terrorist, a hindu scripture preaching burning alive of widows is not terrorist doctrine, a mythical god preaching murder of low caste for chanting holy rhymes is not a terrorist! Hail Ram!

    India could fight british militantly under Subhash Chandra, and under Gandhi, and that is fight for freedom, yet Palestinians fighting for free country is terrorism! Will the Aryans return the land to Dravidians now?



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