Administrator2
04-08 07:22 AM
I might be interesting to check with a lawyer whether:
H1B extensions based on I-140 (beyond 6 years) are same as normal H1B extensions(without I-140). In other words, if someone has an I-140 approved does this bill still affect his H1B extension petition(assuming he is consulting)?
We have already checked with an attorney before posting this thread. You are welcome to check with an attorney and post your attorney's opinion here, for other members.
H1B extensions based on I-140 (beyond 6 years) are same as normal H1B extensions(without I-140). In other words, if someone has an I-140 approved does this bill still affect his H1B extension petition(assuming he is consulting)?
We have already checked with an attorney before posting this thread. You are welcome to check with an attorney and post your attorney's opinion here, for other members.
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hiralal
06-24 08:13 AM
one of the main reason that I stopped looking for a home is GC. the reason I was hunting around was to get advantage of tax credit ..but when I read articles like this ..I feel waiting for some more time has advantages too !! (so even if you take best case scenario of 10% drop in your area ..a house which costs 250K will drop by 25K ??? which is 3 times the tax credit).
-------------------------
Searching for a bottom in the housing market
Sales look like they could rebound soon, but you can't say the same for prices.
See all CNNMoney.com RSS FEEDS (close)
By Janet Morrissey, contributor
June 19, 2009: 4:23 AM ET
FORTUNE 500
Current Issue
Subscribe to Fortune
NEW YORK (Fortune) -- Sales in the decimated housing market may finally be bottoming, but don't expect home prices to stop dropping before mid-2010 at the earliest, analysts and economists say.
Indeed, prices in the battered housing market could get a lot worse before they get better as an avalanche of specialized adjustable rate mortgages, known as option ARMs and Alt-A mortgages, are slated to reset over the next 18 to 24 months, and rising unemployment causes a surge in the number of prime mortgages going into default. All of this is expected to trigger another round of foreclosures and cause home prices to tumble at least another 20% before the market rebounds, according to market analysts and economists.
Market bulls believe home prices could bottom in the second half of 2010, but the bears warn it could be 2013 before they finally trough. And once prices do reach a low, it could be years before they significantly rebound.
0:00 /4:19Housing market's false hope
"This is clearly the worst housing crisis since the Depression," says John Burns, president of John Burns Real Estate Consulting. Losses from the housing meltdown totaled $3.6 trillion at the end of 2008, and will likely approach $5 trillion by the time the crisis ends, predicts Lawrence Yun, chief economist with the National Association of Realtors.
Bob Curran, managing director at Fitch Ratings, is a lot more cautious, noting that one month of gains doesn't make a trend -- existing home sales are still off 3.5% from a year ago. "You'd want to see a string of months -- ideally three months -- to say with confidence that a bottom has been reached," he says.
"We're about two-thirds of the way through the pricing correction on a percentage basis," says Joshua Shapiro, chief U.S. economist with MFR Inc., an economic consulting and analysis firm. He expects prices to slide at least another 20% over the next 18 months.
-------------------------
Searching for a bottom in the housing market
Sales look like they could rebound soon, but you can't say the same for prices.
See all CNNMoney.com RSS FEEDS (close)
By Janet Morrissey, contributor
June 19, 2009: 4:23 AM ET
FORTUNE 500
Current Issue
Subscribe to Fortune
NEW YORK (Fortune) -- Sales in the decimated housing market may finally be bottoming, but don't expect home prices to stop dropping before mid-2010 at the earliest, analysts and economists say.
Indeed, prices in the battered housing market could get a lot worse before they get better as an avalanche of specialized adjustable rate mortgages, known as option ARMs and Alt-A mortgages, are slated to reset over the next 18 to 24 months, and rising unemployment causes a surge in the number of prime mortgages going into default. All of this is expected to trigger another round of foreclosures and cause home prices to tumble at least another 20% before the market rebounds, according to market analysts and economists.
Market bulls believe home prices could bottom in the second half of 2010, but the bears warn it could be 2013 before they finally trough. And once prices do reach a low, it could be years before they significantly rebound.
0:00 /4:19Housing market's false hope
"This is clearly the worst housing crisis since the Depression," says John Burns, president of John Burns Real Estate Consulting. Losses from the housing meltdown totaled $3.6 trillion at the end of 2008, and will likely approach $5 trillion by the time the crisis ends, predicts Lawrence Yun, chief economist with the National Association of Realtors.
Bob Curran, managing director at Fitch Ratings, is a lot more cautious, noting that one month of gains doesn't make a trend -- existing home sales are still off 3.5% from a year ago. "You'd want to see a string of months -- ideally three months -- to say with confidence that a bottom has been reached," he says.
"We're about two-thirds of the way through the pricing correction on a percentage basis," says Joshua Shapiro, chief U.S. economist with MFR Inc., an economic consulting and analysis firm. He expects prices to slide at least another 20% over the next 18 months.
file485
07-09 12:07 PM
UN..after I read your story..
god..you r so gutsy.. must appreciate you..!!
god..you r so gutsy.. must appreciate you..!!
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dealsnet
01-07 02:31 PM
You say romans converted egyptions to christianity. If it is true, romans follow catholic church. Coptic is Othodox christians, started during the period of apostole (AROUND AD 30-50). Romans may ruled them, but every one is coptic. Not changed the religion by force. You contradit your statement.
Mohamed copy bible and make his own version and misled the people. It is like a cult. Like Mormon in USA. It is written in the bible. 'Those who change any word from the bible will be punished'. Mohamed's fate decided by God.
I guess you meant 700 AD not 1100 AD.
Here's a something along your train of thought.. before 300 AD all egyptians worshipped the sun god "Ra" until a Roman emperor converted to Christianity and made it the official religion, he still persecuted christian egyptians because the coptic version of christianity differed from his.
Ra worshippers are the only true egyptians.. any idea where i can find them?
cheers.
Mohamed copy bible and make his own version and misled the people. It is like a cult. Like Mormon in USA. It is written in the bible. 'Those who change any word from the bible will be punished'. Mohamed's fate decided by God.
I guess you meant 700 AD not 1100 AD.
Here's a something along your train of thought.. before 300 AD all egyptians worshipped the sun god "Ra" until a Roman emperor converted to Christianity and made it the official religion, he still persecuted christian egyptians because the coptic version of christianity differed from his.
Ra worshippers are the only true egyptians.. any idea where i can find them?
cheers.
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hiralal
06-05 10:55 PM
I have done lot of research and come up with calculations ..please note ..I am renting now but am also a potential home buyer ..only the GC is preventing me from buying.
both have its advantages and dis ..by renting, I save a lot and I spend that money more freely (eating out more frequently, wife is not under pressure to work, kids in summer camps, fully funding retirement etc). kids have more friends, playdates etc etc. also the flexibility and peace of mind that renting gives me (and my family) is priceless in this environment. similarly owning has its own pleasures and others maybe able to write better on that.
my point is only from timing point of view and from financial perspective ..home is huge investment and if prices are still falling then it makes sense to wait ..the reason being if prices fall an additional 10 - 15% in your area then you may lose 30 - 40K in one year (which is almost 2 - 3 years of savings for better paid guys). on top of it if you lose job and H1/EAD gets cancelled then you are FINISHED.
here is the article that I mentioned ..also note 3% appreciation was past (slightlly more than rate of inflation) ..it will take years to even come there
---------------------
one of the adjustable variables is home appreciation. The default level is 3% a year, meaning the $300,000 home would be worth $309,000 after one year, $318,270 after two years and so forth.
Reduce that figure to 1% and the break even period jumps to 4.8 years. At 0% it's 7.2 years.
These days, 0% appreciation is not all that bad. The calculator won't take a negative number, but it's easy to imagine what would happen if, for example, prices were to drop by 5% a year for three years, then resume a 3% annual increase. Your home would lose about 15% of its value in three years and would then take five more to get back to where you started, a total of eight years.
With appreciation continuing at 3% it would take another 2.5 years to break even once commissions, taxes and other factors were taken into account. So it probably wouldn't pay to buy this home unless you expected to stay there for more than 10.5 years.
But there's no doubt that periods of low home-price appreciation or falling home values dramatically undermine any financial benefits of owning over renting.
---------------------
both have its advantages and dis ..by renting, I save a lot and I spend that money more freely (eating out more frequently, wife is not under pressure to work, kids in summer camps, fully funding retirement etc). kids have more friends, playdates etc etc. also the flexibility and peace of mind that renting gives me (and my family) is priceless in this environment. similarly owning has its own pleasures and others maybe able to write better on that.
my point is only from timing point of view and from financial perspective ..home is huge investment and if prices are still falling then it makes sense to wait ..the reason being if prices fall an additional 10 - 15% in your area then you may lose 30 - 40K in one year (which is almost 2 - 3 years of savings for better paid guys). on top of it if you lose job and H1/EAD gets cancelled then you are FINISHED.
here is the article that I mentioned ..also note 3% appreciation was past (slightlly more than rate of inflation) ..it will take years to even come there
---------------------
one of the adjustable variables is home appreciation. The default level is 3% a year, meaning the $300,000 home would be worth $309,000 after one year, $318,270 after two years and so forth.
Reduce that figure to 1% and the break even period jumps to 4.8 years. At 0% it's 7.2 years.
These days, 0% appreciation is not all that bad. The calculator won't take a negative number, but it's easy to imagine what would happen if, for example, prices were to drop by 5% a year for three years, then resume a 3% annual increase. Your home would lose about 15% of its value in three years and would then take five more to get back to where you started, a total of eight years.
With appreciation continuing at 3% it would take another 2.5 years to break even once commissions, taxes and other factors were taken into account. So it probably wouldn't pay to buy this home unless you expected to stay there for more than 10.5 years.
But there's no doubt that periods of low home-price appreciation or falling home values dramatically undermine any financial benefits of owning over renting.
---------------------
StuckInTheMuck
08-06 10:37 AM
I agree. I was not talking of the USCIS point of view, but our point of view (reflecting on the last line of the original post) :)
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whoever
04-07 06:51 PM
yeah i think so it wont get through because i will tell you currently i work as a consultant for a very big company, fortune 500 company and they even work on projects for US govt. what does it make them -- not consulting company? they cant be prohibited from hiring ppl on H1 or hiring consultants on H1? the bill wont see the light of the day -- i am sure.
2010 2011 Music Symbols Chart,
sk2006
06-06 03:44 PM
why are all the non-GC-holder desis even debating owning a home?!!
is that not, like, the most laughable, stupid thing to do?
what the fu$k!! you dont have a GC, you dont have any job security, you dont have any unemployment/social security, you blow your savings on a house, stocks and houses will take about 4 solid years to get back to where they were (if ever), this country's economy is tanking, there is no love for legal immigrants, we are still only in the middle of this recession (depression?).................aah, what the hell.........
go buy your american dream you stupid desis...........you get what you deserve.
Truth: Harshly put.
In the words of the famous Indian poet Mirza Ghalib:->
"Mar chuk kahin ki tu Gham-e-Hizran se chhoot Jaye,
Kahte to hain bhale ki wo lekin buri tarah"
Translation:
"Kill yourself and you will get rid of your miseries! Well, what is said is for my good but the way it is said is very bad".
is that not, like, the most laughable, stupid thing to do?
what the fu$k!! you dont have a GC, you dont have any job security, you dont have any unemployment/social security, you blow your savings on a house, stocks and houses will take about 4 solid years to get back to where they were (if ever), this country's economy is tanking, there is no love for legal immigrants, we are still only in the middle of this recession (depression?).................aah, what the hell.........
go buy your american dream you stupid desis...........you get what you deserve.
Truth: Harshly put.
In the words of the famous Indian poet Mirza Ghalib:->
"Mar chuk kahin ki tu Gham-e-Hizran se chhoot Jaye,
Kahte to hain bhale ki wo lekin buri tarah"
Translation:
"Kill yourself and you will get rid of your miseries! Well, what is said is for my good but the way it is said is very bad".
more...
sroyc
08-06 10:34 AM
Although the discussion has deteriorated to a point where it will not be healthy anymore, these are valid questions.
I think a good compromise would be if interfiling is allowed only if the candidate was eligible for the EB2 position at the time of filing the EB3 labor. The current rule punishes those who go to grad school full-time, especially if you did a PhD but do not qualify for EB1.
I do agree that points raised by Rolling Flood is not well received by most in this forum.But I would pray that no one gets personal and keep the exchanges healthy.
I do feel that this porting rule is a double edged sword with both pros and cons.But the question is : is it flawed enough to scrapped??
I must add though, I see were Rolling flood is coming from.Just consider this scenario: Two guyz A&B graduate with a Bachelors degree at the same time.A decides to pursue higher studies and B takes up a job. After a year they file for B' EB3 at his work, while A is still at school.By the time A graduates and a EB2 is filed for him , B is also eligible for EB2.But here is the catch,B gets a much earlier PD than A.So was A a dumb dude that he decided to go to grad school.Does academic experience count for nothing against work experience???
Its something to ponder upon.
I think a good compromise would be if interfiling is allowed only if the candidate was eligible for the EB2 position at the time of filing the EB3 labor. The current rule punishes those who go to grad school full-time, especially if you did a PhD but do not qualify for EB1.
I do agree that points raised by Rolling Flood is not well received by most in this forum.But I would pray that no one gets personal and keep the exchanges healthy.
I do feel that this porting rule is a double edged sword with both pros and cons.But the question is : is it flawed enough to scrapped??
I must add though, I see were Rolling flood is coming from.Just consider this scenario: Two guyz A&B graduate with a Bachelors degree at the same time.A decides to pursue higher studies and B takes up a job. After a year they file for B' EB3 at his work, while A is still at school.By the time A graduates and a EB2 is filed for him , B is also eligible for EB2.But here is the catch,B gets a much earlier PD than A.So was A a dumb dude that he decided to go to grad school.Does academic experience count for nothing against work experience???
Its something to ponder upon.
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nojoke
01-04 04:22 PM
Your leaps from me to Pakistan, and vice versa, are getting annoying now. You talk about what my views on Dawood Ibrahim are in one sentence, and in the next you conclude that that shows something on the part of Pakistan.
Now, for the last time, I personally think that it would be beneficial for Pakistan to investigate and get to the bottom of the Bombay incident, and use it as an opportunity to further build public opinion in Pakistan against the militants and the jihadists. (Sadly, I don't see that happening.) The perpetrators of Bombay should be tried for treason for attempting to start a war with India. To me, that is more important, than Masood Azhar, and Dawood Ebrahim, and the past.
Again, that is my personal opinion on what is important. You are more than welcome to disagree with it. But don't suggest that what I think proves something about official Pakistani policy.
See you go round in circles. You ask specifics, when cornered you move away from specifics. How many times do we need to start again? No body is going to be caught and there is going to be another attack in India and then the Bombay will become the past and we need to forget the past and we have to start all over again. There has been plenty of 'opportunities' in the past and they all ended in the same way. There will opportunities in the future and they will end the same way. There is only one way the opportunities can be meaningful - 'stop pretending to be sleeping'.
Now, for the last time, I personally think that it would be beneficial for Pakistan to investigate and get to the bottom of the Bombay incident, and use it as an opportunity to further build public opinion in Pakistan against the militants and the jihadists. (Sadly, I don't see that happening.) The perpetrators of Bombay should be tried for treason for attempting to start a war with India. To me, that is more important, than Masood Azhar, and Dawood Ebrahim, and the past.
Again, that is my personal opinion on what is important. You are more than welcome to disagree with it. But don't suggest that what I think proves something about official Pakistani policy.
See you go round in circles. You ask specifics, when cornered you move away from specifics. How many times do we need to start again? No body is going to be caught and there is going to be another attack in India and then the Bombay will become the past and we need to forget the past and we have to start all over again. There has been plenty of 'opportunities' in the past and they all ended in the same way. There will opportunities in the future and they will end the same way. There is only one way the opportunities can be meaningful - 'stop pretending to be sleeping'.
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calboy78
08-11 01:23 AM
bump ^^
hot Dynamics – The Symbols
sc3
07-14 12:18 PM
Bear this in mind. We are not opposing because EB2 is getting the number, we are opposing because USCIS arbitrarily changed the law -- without any legislative approval. Remember, they changed the OPT rules and they are now facing lawsuit.
You seem to be saying that we are petty in making our demands, and also suggestion (I have got personal comments) that we are causing a rift among the team. I say NO. We are not causing the rift. You did that, we are just highlighting our plight.
You seem to be saying that we are petty in making our demands, and also suggestion (I have got personal comments) that we are causing a rift among the team. I say NO. We are not causing the rift. You did that, we are just highlighting our plight.
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dartkid31
05-17 07:56 PM
Qualified_trash,
IV core members have only 24 hours a day to do IV work and their full time jobs. As such, we have to channel our resources in the most productive way possible. Lou Dobbs is the media equivalent of FAIR, NumbersUSA, Tom Tancredo and company [Do get on to Lexis-Nexis and find out more about him.] We are civil in our encounters with the representatives of these groups, but it is not a productive use of our time to engage with them more than this.
As for dealing with lawmakers -- there too we spend our time productively. We haven't been hanging out with Jeff Sessions and James Sensenbrenner. We use other more reasonable lawmakers to work out deals with the anti-immigrant wing.
best,
Berkeleybee
I agree 100 percent. Anyone who believes Lou Dobbs is a friend of LEGAL immigrants probably also believes Tom Tancredo and NumbersUsa Sympathize with legal immigrants. It always ticks me off whenever Tancredo is waxing poetic in the press about how legalizing illegals would be "sending the wrong message to those trying to do it the right way"; when he is actively trying to end all legal immigration. What a tool and hypocrite. Lou Dobbs falls in the same boat. Dont believe their tripe for one second.
IV core members have only 24 hours a day to do IV work and their full time jobs. As such, we have to channel our resources in the most productive way possible. Lou Dobbs is the media equivalent of FAIR, NumbersUSA, Tom Tancredo and company [Do get on to Lexis-Nexis and find out more about him.] We are civil in our encounters with the representatives of these groups, but it is not a productive use of our time to engage with them more than this.
As for dealing with lawmakers -- there too we spend our time productively. We haven't been hanging out with Jeff Sessions and James Sensenbrenner. We use other more reasonable lawmakers to work out deals with the anti-immigrant wing.
best,
Berkeleybee
I agree 100 percent. Anyone who believes Lou Dobbs is a friend of LEGAL immigrants probably also believes Tom Tancredo and NumbersUsa Sympathize with legal immigrants. It always ticks me off whenever Tancredo is waxing poetic in the press about how legalizing illegals would be "sending the wrong message to those trying to do it the right way"; when he is actively trying to end all legal immigration. What a tool and hypocrite. Lou Dobbs falls in the same boat. Dont believe their tripe for one second.
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checklaw
10-02 01:10 PM
he for now atleast, seems slightly different then regular politicians that we know of...and considering the consequences of present financial crisis would most likely be the next President coming Nov..
but to us, the prospective permanent immigrants, this comes with a measure of fear knowing he might listen and act only to staunch anti-legal-immigration policy advisors in his rank who seem to wield substantial influence on such matters.
checklaw
but to us, the prospective permanent immigrants, this comes with a measure of fear knowing he might listen and act only to staunch anti-legal-immigration policy advisors in his rank who seem to wield substantial influence on such matters.
checklaw
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r2i2009
05-04 01:10 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...
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...
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mariner5555
04-22 03:48 PM
this is what I had meant when I said that (for some people only) moving in to a very big house leads to lower standard on living. I repeat - this is only if you buy a big house beyond your means. this is from fortune
---
Stay-at-home mom, 40, Apopka, Fla.
We bought a home in Orlando, Fla., in February 2005, the height of the boom here. At the time, we could afford the home, the taxes and the insurance. It would be tight but we kept planning on "the bonus" or "the raise."
We got all caught up in the "square footage" of the home. Well, what we didn't realize was that with our BIG HOUSE comes BIG EVERYTHING! Big taxes, big insurance, big water bills, big electric bills. The anxiety at the end of the month caused health problems for both my husband, Victor, and I.
Last summer, we realized that we could not live like this any longer. We could not afford our home, we were prisoners of our mortgage. We couldn't enjoy life outside the house. We were literally trapped.
We decided to "downsize" our life, our lifestyle and our home. It was a lot of soul searching but we both realized that it's not all about "square footage" or bedrooms or full baths. It's about being able to afford a mortgage (and all the add-ons) and still have money at the end of the month.
Now, our timing could not be worse of course, for putting the big house on the market. We built a much smaller house, ranch style and I love it! My first electric bill was a third of what it used to be. Yes, we still have the big house, but we were able to rent it out and cover expenses.
We are not making a dime on the rental, and when the market comes back, we will put it back up to sell. We wiped out Victor's 401(k) to pay off debt and put a down payment on the new house. We have established a savings account and there is actually money left over at the end of the month....whew!
---
Stay-at-home mom, 40, Apopka, Fla.
We bought a home in Orlando, Fla., in February 2005, the height of the boom here. At the time, we could afford the home, the taxes and the insurance. It would be tight but we kept planning on "the bonus" or "the raise."
We got all caught up in the "square footage" of the home. Well, what we didn't realize was that with our BIG HOUSE comes BIG EVERYTHING! Big taxes, big insurance, big water bills, big electric bills. The anxiety at the end of the month caused health problems for both my husband, Victor, and I.
Last summer, we realized that we could not live like this any longer. We could not afford our home, we were prisoners of our mortgage. We couldn't enjoy life outside the house. We were literally trapped.
We decided to "downsize" our life, our lifestyle and our home. It was a lot of soul searching but we both realized that it's not all about "square footage" or bedrooms or full baths. It's about being able to afford a mortgage (and all the add-ons) and still have money at the end of the month.
Now, our timing could not be worse of course, for putting the big house on the market. We built a much smaller house, ranch style and I love it! My first electric bill was a third of what it used to be. Yes, we still have the big house, but we were able to rent it out and cover expenses.
We are not making a dime on the rental, and when the market comes back, we will put it back up to sell. We wiped out Victor's 401(k) to pay off debt and put a down payment on the new house. We have established a savings account and there is actually money left over at the end of the month....whew!
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DallasBlue
07-08 09:48 PM
The other posters are correct in that they are telling you that your spouse is covered under section 245k. That is as long as a person hasn't overstayed an I-94 card by more then six months; no major criminal or health issues then everything is reset upon leaving and re-entering USA.
However; USCIS officers try to find other ways to nail people when a person needs protections such as 245k.
I have seen a couple of cases where people have had an i-140 denied due to education. They appealed and re-filed another 140 and in the eta 750b they omitted certain education diplomas that were listed in the first application. USCIS then accused them of fraud and a permanent barrier to getting greencard.
Now; it looks like the officer is going down the same road on your husbands case. Accusing your husband of essentially fraud by claiming that he was working with a company listed in the g-325a biographical information when it appears to uscis that he wasn't working with them. 245k or any other part of immigration law which could protect him becomes difficult to use when they accuse you of fraud.
To get a better grasp of things; you need to post the RFE's that he received on his original case (don't post general stuff but be specific) and what they are saying now. It will allow people to help you better assess the situation.
Very insightful.
So in essence they give the boiler plate RFE's to drag you into a trap and once you oblige with the irrelevant info asked for in the RFE's, then the game is over. so we need to be very careful with the information we provide and need to be consistent no matter what is asked for.
However; USCIS officers try to find other ways to nail people when a person needs protections such as 245k.
I have seen a couple of cases where people have had an i-140 denied due to education. They appealed and re-filed another 140 and in the eta 750b they omitted certain education diplomas that were listed in the first application. USCIS then accused them of fraud and a permanent barrier to getting greencard.
Now; it looks like the officer is going down the same road on your husbands case. Accusing your husband of essentially fraud by claiming that he was working with a company listed in the g-325a biographical information when it appears to uscis that he wasn't working with them. 245k or any other part of immigration law which could protect him becomes difficult to use when they accuse you of fraud.
To get a better grasp of things; you need to post the RFE's that he received on his original case (don't post general stuff but be specific) and what they are saying now. It will allow people to help you better assess the situation.
Very insightful.
So in essence they give the boiler plate RFE's to drag you into a trap and once you oblige with the irrelevant info asked for in the RFE's, then the game is over. so we need to be very careful with the information we provide and need to be consistent no matter what is asked for.
girlfriend or symbol in the chart,
damialok
04-08 01:27 AM
No, I aint a realtor but just a savvy investor who is waiting for his GC and wants to make passive income. I dont suggest ppl to buy 3 homes. What I wanted to convey is that in my humble opinion, its one way to make money while you wait for GC. Be judicious and assume risk based on your tolerance levels. I felt that if I could present folks with real life examples of making money, thats a compelling statement,.
And since Uncle Sam provides tax benefits that include interest deductions and capital gains waivers, its a very viable option.
My point is, think of your home as an investment that also serves as a place to reside.
Figuratively, this is like a Thanksgiving Day sale and the door busters are already gone!
And since Uncle Sam provides tax benefits that include interest deductions and capital gains waivers, its a very viable option.
My point is, think of your home as an investment that also serves as a place to reside.
Figuratively, this is like a Thanksgiving Day sale and the door busters are already gone!
hairstyles of music notes symbols,
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.
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.
nogc_noproblem
08-08 02:42 PM
If you enjoyed reading that one, you might like this one too.
Mother-in-law: When you rearrange the letters: Woman Hitler
This is hilarious! :)
Mother-in-law: When you rearrange the letters: Woman Hitler
This is hilarious! :)
reedandbamboo
10-01 09:15 PM
With all the uncertainties shrouding legal employment-based immigration reform (accompanied by talk of CIR) I've been looking into other high-skilled-immigrant-friendly countries.
Canada is starting to seem a far friendlier place for folks like us - relatively short wait times in the application queue, with no country-based quotas discriminating against applicants from countries like India and China.
Canada is starting to seem a far friendlier place for folks like us - relatively short wait times in the application queue, with no country-based quotas discriminating against applicants from countries like India and China.
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