gc_on_demand
02-09 02:57 PM
One immigration business shop says that visas are being wasted and that's our proof. We are now ready to list the reasons why visa numbers are being wasted. Not only the visas have been wasted but according to you the reason for wastage are -
1.) Inefficiency
2.) Directive from the administration
But before that, can anybody prove conclusively that visa numbers were wasted. What is the proof? Just because my application is pending doesn't mean that USCIS is wasting green card numbers. Give us all proof that visa numbers are being wasted. Where is the proof. Around 20 days back I wrote an email to the immigration business shop asking for proof of waste of visa numbers. No response.
And reply you will never get.
1.) Inefficiency
2.) Directive from the administration
But before that, can anybody prove conclusively that visa numbers were wasted. What is the proof? Just because my application is pending doesn't mean that USCIS is wasting green card numbers. Give us all proof that visa numbers are being wasted. Where is the proof. Around 20 days back I wrote an email to the immigration business shop asking for proof of waste of visa numbers. No response.
And reply you will never get.
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dehradoon
08-16 06:13 PM
Because you guys are not as clever as EB2s.
you sir, certainly are not as smart to file in EB1. more ever its not about being clever it can sometimes also be a company policy, the exp, the qualification. There are plenty to shops that do not entertain EB2. EB2 or EB3 hardly makes a difference at professional level. Its only a counter in GC.
Once this is all over, an EB2 case just might be reporting to an EB3 Manager.
Please do not post comments like this, everyone is in this for a cause, You did not make a first impression as a concerned member of IV and since you are here the cleverness is itself proven.
you sir, certainly are not as smart to file in EB1. more ever its not about being clever it can sometimes also be a company policy, the exp, the qualification. There are plenty to shops that do not entertain EB2. EB2 or EB3 hardly makes a difference at professional level. Its only a counter in GC.
Once this is all over, an EB2 case just might be reporting to an EB3 Manager.
Please do not post comments like this, everyone is in this for a cause, You did not make a first impression as a concerned member of IV and since you are here the cleverness is itself proven.
feedfront
11-08 11:39 AM
Nope, not yet.
Congratulations,!! Is your card really green or pollution has some effect on it? ;)
Congratulations,!! Is your card really green or pollution has some effect on it? ;)
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django.stone
11-11 05:19 PM
Guys..
If your are with me please respond to this thread
We MUST take the advantage of low VISA usage in this recession and cut the line by tens of thousand
Yes, good idea and something that will benefit the entire I & C community in the long run including EB3. I will support the initiative.
If your are with me please respond to this thread
We MUST take the advantage of low VISA usage in this recession and cut the line by tens of thousand
Yes, good idea and something that will benefit the entire I & C community in the long run including EB3. I will support the initiative.
more...
hsm2007
09-20 07:37 PM
Hi Guys,
I am in tough spot. I was laid off from my GC sponsoring employer (A) in 2008 and joined another employer B . I did not do a AC21 notification. My dates are current and now I received an RFE to provide employment letter from current employer. The exact words of RFE are as follows:
"Submit a letter of employment attesting to applicant's current employment. This letter should be written on the company's official letterhead, citing the date the applicant began working, if a permanent full time position, the position offered, the position the applicant is currently working and the salary offered. Include corroborating evidence such as recent pay stubs, income tax returns, with all W2s or other evidence as appropriate. "
Now I am not working for original GC employer. I don't have a problem providing above from my current employer B. But whether the EVL should also mention that I am not working for GC sponsoring employer and that my current employers job profile is in same classification as previous based on AC21. Do I mention about the AC21 also in the letter? My current employer's attorneys are not that great but my current employer only wants me to use their own attorney.
Now here is the situation:
I have a job offer from another employer (Employer C) and they are in the middle of doing a H-1 transfer. In fact by tomorrow they will file the H1 paperwork. Now I don't know whether I should provide the letter from my potential new employer C . In that case, I won't be able to provide W2 or pay stubs until I join them. I have an opportunity to use my own attorney here (like murthy, Ron Gothcer..)
OR
should I provide a letter from my current employer using their attorneys and whether or not I should mention about AC21 in the employment letter.
Also they sent the RFE to my previous employer's attorney even though my current employer's attorney had sent the new G-28 forms. Can my current attorney respond to the RFE or will the response get rejected because USCIS still has old attorney on file.
Thanks.
I am in tough spot. I was laid off from my GC sponsoring employer (A) in 2008 and joined another employer B . I did not do a AC21 notification. My dates are current and now I received an RFE to provide employment letter from current employer. The exact words of RFE are as follows:
"Submit a letter of employment attesting to applicant's current employment. This letter should be written on the company's official letterhead, citing the date the applicant began working, if a permanent full time position, the position offered, the position the applicant is currently working and the salary offered. Include corroborating evidence such as recent pay stubs, income tax returns, with all W2s or other evidence as appropriate. "
Now I am not working for original GC employer. I don't have a problem providing above from my current employer B. But whether the EVL should also mention that I am not working for GC sponsoring employer and that my current employers job profile is in same classification as previous based on AC21. Do I mention about the AC21 also in the letter? My current employer's attorneys are not that great but my current employer only wants me to use their own attorney.
Now here is the situation:
I have a job offer from another employer (Employer C) and they are in the middle of doing a H-1 transfer. In fact by tomorrow they will file the H1 paperwork. Now I don't know whether I should provide the letter from my potential new employer C . In that case, I won't be able to provide W2 or pay stubs until I join them. I have an opportunity to use my own attorney here (like murthy, Ron Gothcer..)
OR
should I provide a letter from my current employer using their attorneys and whether or not I should mention about AC21 in the employment letter.
Also they sent the RFE to my previous employer's attorney even though my current employer's attorney had sent the new G-28 forms. Can my current attorney respond to the RFE or will the response get rejected because USCIS still has old attorney on file.
Thanks.
GCKaMaara
03-12 10:59 AM
It doesn't make sense on either side:
1. IV is not going to change its policy of hiding information. If you are comfortable with the approach then contribute otherwise don't.
2. Shouting and bashing here on website will gain nothing.
Do something creative. I think the basic problem is not hiding information. Basic problem is that as a non-profit organization, we don't have elections. We as a group have no rights to choose who is core. But thats how it is.
1. IV is not going to change its policy of hiding information. If you are comfortable with the approach then contribute otherwise don't.
2. Shouting and bashing here on website will gain nothing.
Do something creative. I think the basic problem is not hiding information. Basic problem is that as a non-profit organization, we don't have elections. We as a group have no rights to choose who is core. But thats how it is.
more...
ItIsNotFunny
10-15 12:10 PM
do that and as a backlash, the PDs will go back to 1800! after that even if u send the whole garden they won't be current again:D
If Gandhi would have thought the same way!
We must protest and it has to be a unified process. Last time we were really successful. It was one of the factors why they allowed everyone to file EAD - partial independence. Take it positive.
If Gandhi would have thought the same way!
We must protest and it has to be a unified process. Last time we were really successful. It was one of the factors why they allowed everyone to file EAD - partial independence. Take it positive.
2010 Or StepMom Poems - Family
rajuram
01-24 01:15 PM
What is the next item we are waiting for, it has to be "wait for the economy to get a little better before the congress will do something".
This chakraview never ends. Please god (or IV) help us ......
We have no more excuses now.
1. Elections are over. So all arguments like "wait till the elections are over" do not apply.
2. We have a pro immigration president now.
3. Democrats are incharge of the house and the senate.
This is a good time to act. What is IV waiting for...
Ofcourse economy will grab the headlines, but it does not mean nothing else can be done. Do something before democrats start worrying about 2010 elections. Time to highlight that immigrants can help by buying houses (NPR had devoted some time to it recently, so they are aware, we just need to give it more publicity)
This chakraview never ends. Please god (or IV) help us ......
We have no more excuses now.
1. Elections are over. So all arguments like "wait till the elections are over" do not apply.
2. We have a pro immigration president now.
3. Democrats are incharge of the house and the senate.
This is a good time to act. What is IV waiting for...
Ofcourse economy will grab the headlines, but it does not mean nothing else can be done. Do something before democrats start worrying about 2010 elections. Time to highlight that immigrants can help by buying houses (NPR had devoted some time to it recently, so they are aware, we just need to give it more publicity)
more...
vamsi_poondla
09-26 10:55 PM
I don't know who senthil1 is, nor do i care. If you nothing to reply please don't waste white space. My comments are not to stir up arguments but an observation.
IV is sticking to employment based green card reforms. Green Card == Immigrant Visa. So, it would be silly not to use 'immigrant' in this context.
IV is not for just those currently in the 485/140 stage. It will be for future green card applicants as well and that includes H1Bs and F1 holders.
IV is sticking to employment based green card reforms. Green Card == Immigrant Visa. So, it would be silly not to use 'immigrant' in this context.
IV is not for just those currently in the 485/140 stage. It will be for future green card applicants as well and that includes H1Bs and F1 holders.
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skamma
05-17 01:22 PM
Admin,
Can you pl. comment on this issue, since it is a potential and growing problem, we need to do something about it.
Thanks
skamma
Can you pl. comment on this issue, since it is a potential and growing problem, we need to do something about it.
Thanks
skamma
more...
Hassan11
07-02 11:15 AM
This is a sad sad news
UPDATE ON JULY VISA AVAILABILITY
The sudden backlog reduction efforts by Citizenship and Immigration Services Offices during the past month have resulted in the use of almost 60,000 Employment numbers. As a result of this unexpected action it has been necessary to make immediate adjustments to several previously announced cut-off dates. All Citizenship and Immigration Services Offices have been notified of the following:
Effective Monday July 2, 2007 there will be no further authorizations inresponse to requests for Employment-based preference cases. All numbers available to these categories under the FY-2007 annual numerical limitation
have been made available. Employment preference numbers will once again be available to these chargeability areas beginning October 1, 2007, under the FY-2008 annual numerical limitation.
Department of State Publication 9514
CA/VO: July 2, 2007
UPDATE ON JULY VISA AVAILABILITY
The sudden backlog reduction efforts by Citizenship and Immigration Services Offices during the past month have resulted in the use of almost 60,000 Employment numbers. As a result of this unexpected action it has been necessary to make immediate adjustments to several previously announced cut-off dates. All Citizenship and Immigration Services Offices have been notified of the following:
Effective Monday July 2, 2007 there will be no further authorizations inresponse to requests for Employment-based preference cases. All numbers available to these categories under the FY-2007 annual numerical limitation
have been made available. Employment preference numbers will once again be available to these chargeability areas beginning October 1, 2007, under the FY-2008 annual numerical limitation.
Department of State Publication 9514
CA/VO: July 2, 2007
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Abhinaym
07-03 12:01 PM
I admit, it seems discriminatory to say you can't get your GC now because you're from this country or that country but these "high volume" countries have created the current back log through their sheer numbers and sometimes multiple applications, not the system. The system is fair to ALL and for some group to say that it isn't fair because all of that group isn't getting what they want is unjust to the rest of us. I knew I would be pounced upon when I submitted my original post and it only proves my point of personal agendas; sometimes I wonder what the "I" in "IV" really stands for? Don't be so arrogant as to believe that your higher education should give you more rights than others - that doesn't fly with me! I am frustrated with this forum because of this arrogance and I may not visit too much longer!
I do have one question for all of you who are in favor of eliminating the per country limit; do you support an eventual road to citizenship for the large group of people who dominate the "other side" of immigration? If you don't, some may think you hipocritical to want the rules changed for yourselves!
Ridiculous, nobody ever mentioned education here. Did any one here mention higher education at all?
You want to get ahead of me in the line just because where I was born even if we're equally qualified, and you're calling me arrogant???
Yes, our countries are 'high volume', how does it matter? Who are you blaming for what? Now what, you want to be commended and applauded for your countries' low population? :D LOL!
Why is it so unjust to wait your turn?
BS! IV has done so much for all immigrants and not just Indians. You should get your facts straight here. Besides this is a thread created for this purpose, there are plenty of threads which help you, if you ignore all of those and make your opinions on this you're being obnoxious. Also, the number of people in support of this petition is a tiny proportion of IV'ers. So stop stereotyping man, it is showing.
You say that we applicants are to blame for our countries' populations? I.e. we're responsible for circumstances that happened before our birth? Could you get any more ridiculous please?
I hope you begin to understand who is sounding arrogant here.
I do have one question for all of you who are in favor of eliminating the per country limit; do you support an eventual road to citizenship for the large group of people who dominate the "other side" of immigration? If you don't, some may think you hipocritical to want the rules changed for yourselves!
Ridiculous, nobody ever mentioned education here. Did any one here mention higher education at all?
You want to get ahead of me in the line just because where I was born even if we're equally qualified, and you're calling me arrogant???
Yes, our countries are 'high volume', how does it matter? Who are you blaming for what? Now what, you want to be commended and applauded for your countries' low population? :D LOL!
Why is it so unjust to wait your turn?
BS! IV has done so much for all immigrants and not just Indians. You should get your facts straight here. Besides this is a thread created for this purpose, there are plenty of threads which help you, if you ignore all of those and make your opinions on this you're being obnoxious. Also, the number of people in support of this petition is a tiny proportion of IV'ers. So stop stereotyping man, it is showing.
You say that we applicants are to blame for our countries' populations? I.e. we're responsible for circumstances that happened before our birth? Could you get any more ridiculous please?
I hope you begin to understand who is sounding arrogant here.
more...
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coloniel60
08-15 04:13 PM
In fact better than expected for EB2
Nothing new. Whoever is eligible to apply in Sep has already applied except for a few unlucky people stuck in BEC.
Nothing new. Whoever is eligible to apply in Sep has already applied except for a few unlucky people stuck in BEC.
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sanju
11-11 10:32 PM
Almost all my personal friends I spoke to recently who did not want to help with IV stuff, now proudly claim "As Obama has become the president, he will do something for us to get the green card"
The hope continues :)
People come on IV only to blame IV and admins for all the problems in their lives, but when asked to help for IV stuff - they give red dots and leave bad comments
Its kind of a funny situation, and dangerous at the same time. This is a setup for a perfect storm and these idiot "friends" are planning for sunny days ahead. I guess someone forgot to turn on the weather channel, which in this situation is equivalent to "using common sense".
I am sorry to say this but all these "friends" are actually not your friends. Its better to have a wise foe than foolish friends.
Intelligence is about matching the dots and foresee the coming events, which always tend to cast their shadow before they appear. Idiots tend to overlook the dots, and they continue to live in fools paradise. The problem is not the formation of a perfect storm, the problem is most of these "friends" will be caught off-guard, and the ship will take everyone down with them. I wish I knew of a better way to desrcibe the current situation.
.
The hope continues :)
People come on IV only to blame IV and admins for all the problems in their lives, but when asked to help for IV stuff - they give red dots and leave bad comments
Its kind of a funny situation, and dangerous at the same time. This is a setup for a perfect storm and these idiot "friends" are planning for sunny days ahead. I guess someone forgot to turn on the weather channel, which in this situation is equivalent to "using common sense".
I am sorry to say this but all these "friends" are actually not your friends. Its better to have a wise foe than foolish friends.
Intelligence is about matching the dots and foresee the coming events, which always tend to cast their shadow before they appear. Idiots tend to overlook the dots, and they continue to live in fools paradise. The problem is not the formation of a perfect storm, the problem is most of these "friends" will be caught off-guard, and the ship will take everyone down with them. I wish I knew of a better way to desrcibe the current situation.
.
more...
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prioritydate
01-22 07:10 PM
I agree that with apinto and gooblywoobly that risk assessment should be done by everybody. risk calculation can be best be approximate. But most people paint the best case and leave it there in order to enjoy material comforts.
prioritydate and ajay, I didn't give you reds.
When the adversity strikes, people write long stories without a moral at the end. The moral of the story is don't sign up for heavy loans and mortgages, when you are a temp . That's not your venture (risk) capital that you can just burn up like startups did in the silicon valley and ruined it.
Yes, immigration sucks but this is not a moral of the present story. If you make a film like that,where you are skating on thin ice, folks will laugh at you. Make a better film which says you can't buy a house or invest here, even if you can afford it and you cannot accept job promotions or change jobs due to restrictive immigration policies.
And yes, if you leave your cars and your houses behind and run off to home country with your tails between your asses, you deserve to be extradited and put behind bars. You know why. My companies has high paying financial institutions as its customers. They have slashed their IT budgets due to folks like you (loan defaulters) and now I find myself going several rounds of layoffs, despite no fault of mine. Its making me loose my sleep.:mad:
I have a green card. So, are you giving me a thumbs up and go purchase a house now? The damage is already done. Someone gave me lot of reds. I don't know in which thread, but I have all reds.
prioritydate and ajay, I didn't give you reds.
When the adversity strikes, people write long stories without a moral at the end. The moral of the story is don't sign up for heavy loans and mortgages, when you are a temp . That's not your venture (risk) capital that you can just burn up like startups did in the silicon valley and ruined it.
Yes, immigration sucks but this is not a moral of the present story. If you make a film like that,where you are skating on thin ice, folks will laugh at you. Make a better film which says you can't buy a house or invest here, even if you can afford it and you cannot accept job promotions or change jobs due to restrictive immigration policies.
And yes, if you leave your cars and your houses behind and run off to home country with your tails between your asses, you deserve to be extradited and put behind bars. You know why. My companies has high paying financial institutions as its customers. They have slashed their IT budgets due to folks like you (loan defaulters) and now I find myself going several rounds of layoffs, despite no fault of mine. Its making me loose my sleep.:mad:
I have a green card. So, are you giving me a thumbs up and go purchase a house now? The damage is already done. Someone gave me lot of reds. I don't know in which thread, but I have all reds.
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raj2007
03-07 02:50 PM
I am employed with a company and I work for a client through a preferred vendor. I am in a slightly difficult situation. I would like to do AC21 with the vendor and negotiate for more. This might irk the vendor and he could in turn tell my employer about this. I cannot put in my papers with my employer without having an offer from the vendor in hand. I cannot join the client directly because of hiring freeze.
My question is, if due to the above exercise my employer cancels my H1, will I be immediately be out of status, does having EAD means that I will be in status even if my H1 is cancelled?.. How much time will I have to join a new employer using EAD if my H1 is cancelled or revoked.?.
Thanks,
Your vendor is desi guy?
I have never seen vendor informing the employer.
You are ok even if he cancels ur H1.
My question is, if due to the above exercise my employer cancels my H1, will I be immediately be out of status, does having EAD means that I will be in status even if my H1 is cancelled?.. How much time will I have to join a new employer using EAD if my H1 is cancelled or revoked.?.
Thanks,
Your vendor is desi guy?
I have never seen vendor informing the employer.
You are ok even if he cancels ur H1.
more...
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yabadaba
09-26 12:44 PM
As needhelp said earlier, the damage is done. This is really shameful on the part of CNN. Maybe its a coordinated effort by the Lou Dobbs production team to equate our issues with H1B. This philosophy trickles down and freelance writers end up subscribing to that ideology giving betsy ross and her hateful group a nice platform for them to launch their attacks on us or spread even more misinformation.
One thing I started doing was identifying texts in the comments section of any news article post related to high skilled immigration. It looks like ALIPAC or one of those hate groups have a concentrated effort for members to post the same message in the comments section of any media article that is sympathetic to our predicament. We need to identify these posters and the messages - maybe it all comes from one user posting the same set of stock messages with different names.
One thing I started doing was identifying texts in the comments section of any news article post related to high skilled immigration. It looks like ALIPAC or one of those hate groups have a concentrated effort for members to post the same message in the comments section of any media article that is sympathetic to our predicament. We need to identify these posters and the messages - maybe it all comes from one user posting the same set of stock messages with different names.
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chanduv23
12-27 04:36 AM
I liked NW/KLM too. Absolutely no hassles. I hear that NY-Dubai non-stop flight through Emirates is also good, though it is slightly expensive.
London - transit visa needed definitely for inter/intra-airport transfers.
Paris - did not ask for transit visa last when I travelled.
Frankfurt was approving transit visas within the airport for gate transfers last time I visited. Situation might have changed now.
Has anybody travelled through Toronto-New Delhi through Air Canada? This would be a trip over the north pole during the Xmas :D
Thnx for the info. I am travelling JFK - Dubai - Chennai tomorrow in the NY - Dubai non stop. I did apply for a transit visa because I may step out of the airport, but as such, I was told, if I am not stepping out of the airport, there is no need for a transit visa.
NWA , I would say, must be used as the last resort. The flight is lousy and the staff is bad. But then no transit visa issues.
London - transit visa needed definitely for inter/intra-airport transfers.
Paris - did not ask for transit visa last when I travelled.
Frankfurt was approving transit visas within the airport for gate transfers last time I visited. Situation might have changed now.
Has anybody travelled through Toronto-New Delhi through Air Canada? This would be a trip over the north pole during the Xmas :D
Thnx for the info. I am travelling JFK - Dubai - Chennai tomorrow in the NY - Dubai non stop. I did apply for a transit visa because I may step out of the airport, but as such, I was told, if I am not stepping out of the airport, there is no need for a transit visa.
NWA , I would say, must be used as the last resort. The flight is lousy and the staff is bad. But then no transit visa issues.
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Green4Ev1
05-26 05:05 PM
I wonder what are the required documents for America born citizens if they don't have passports. Just a driver license? or they have to carry birth certificates always?
justAnotherFile
07-12 07:53 PM
i believe the argument that this sudden jump was made to help eb2 china is pure hogwash.
quoting from july visa bulletin as someone had pasted before
"Since Section 203(e)(1) of the Act requires that such unused numbers be made available strictly in priority date order, the China and India applicants have been subject to the identical cut-off date. As there are more Employment Second preference applicants from India and the Indian applicants may have earlier priority dates, it is likely that Indian applicants will receive a larger portion of the available numbers than Chinese applicants"
the dos has itself stated that these overflow number have to be allocated strictly according to pd order in order to abide by the law. they are not going to publicly state this and one month later do quite the opposite.
it must be truly a case of the uscis not providing sufficient number of approvable cases. now there could be some leeway there for uscis to help eb2-china by withholding some earlier pd indian applications saying they ar e not in approvable state. but i hope that is not the case.
quoting from july visa bulletin as someone had pasted before
"Since Section 203(e)(1) of the Act requires that such unused numbers be made available strictly in priority date order, the China and India applicants have been subject to the identical cut-off date. As there are more Employment Second preference applicants from India and the Indian applicants may have earlier priority dates, it is likely that Indian applicants will receive a larger portion of the available numbers than Chinese applicants"
the dos has itself stated that these overflow number have to be allocated strictly according to pd order in order to abide by the law. they are not going to publicly state this and one month later do quite the opposite.
it must be truly a case of the uscis not providing sufficient number of approvable cases. now there could be some leeway there for uscis to help eb2-china by withholding some earlier pd indian applications saying they ar e not in approvable state. but i hope that is not the case.
mariner5555
03-04 01:33 PM
I was 37 years old when I arrived on H1b in 1999, I had owned properties back home and I had a fair amount of equity.
In 1999 my wife and I could see the Southern California real estate market was growing. Our initial idea had been to rent for 6 months, and get to know the area, then decided where we wanted to buy. My employer applied for H1b in November 1998 and it was approved in May 1999. We came over in January 1999 to look for property to rent but also with a view to maybe purchase.
Within 2 weeks of my H1b approval my wife and I came over and because of the property price increases since we began looking at the market we felt renting was going to be dead money and we need to buy for economical reasons.
So in June 1999 we purchased a 1,950 sqft house for $280,000.
In September 2003 we sold that house for $535,000.
Using the increased equity my wife who is H4 chose another house (as she couldn’t work it was important to me that she be happy in the house). The next house we purchased was 4,550sqft, and in December 2003 it cost $835,000.
I know the market for real estate is shrinking, but according to Zillow.com this morning the property is valued around $1,230,000 albeit was worth considerably more a year ago.
I’m not looking to brag, I am sharing my experience.
1 my wife and kids were on H4 they needed a home to be happy in.
2 it made economic sense to buy
3 we got the right funding
4 had we waited for GC we could never have afforded the home we currently live in.
The timing of immigration approvals had no bearing on whether I decided to purchase property.
good luck to all
I agree with Singh who said those were different times .. and you are lucky too (And qualified I guess)..many in california could not afford to keep their cars during last slowdown (my friend brought brand new mustang and then had to sell it for 12 k ..4 month old car - 3000 miles on it) in a hurry. people left their cars in parking lots (thats what I heard). buying a house makes sense if you know you will be in that place for a long time - and the price is right..(last few years it was like crazy speculation) see the link I had posted in my prev posting ..it is a horror story now.
does it make sense to buy in california now ? it would be sheer stupidity (in my view) ..maybe after price comes down another 20 percent would be right time to buy.
http://www.marketwatch.com/news/story/tragedy-recession-its-bad-ending/story.aspx?guid=%7B5D72D7E3%2D76BB%2D4CAB%2DB4D0%2 D60F87DA734B7%7D
in the end it is supply and demand ,....supply is huge for housing and is growing ..there is no (negligible) demand ..and hence even small increase in demand helps ..this is economics 101 !!!
the other point(and the main point) is to use this to highlight our problems(and to keep on trying ) ..and hope that someone listens. the other option ofcourse is to let things drag on ....
these are first few main points of the article
----
1. Home prices will fall 20% to 30% from the peak
Roughly $4 trillion to $6 trillion of household wealth will vanish. Large home builders may go bankrupt, triggering further declines in home-builder stocks. Even Fed Chairman Ben Bernanke admitted last week that housing prices could fall into 2009.
2. Prime and near-prime mortgages losses
"This is a generalized mortgage crisis and meltdown, not just a subprime one," warns Roubini. "About 60% of all mortgage origination from 2005 through 2007 had these reckless and toxic features. And losses among all sorts of mortgages will sharply increase as home prices fall sharply and the economy." Add another $300 billion in losses
In 1999 my wife and I could see the Southern California real estate market was growing. Our initial idea had been to rent for 6 months, and get to know the area, then decided where we wanted to buy. My employer applied for H1b in November 1998 and it was approved in May 1999. We came over in January 1999 to look for property to rent but also with a view to maybe purchase.
Within 2 weeks of my H1b approval my wife and I came over and because of the property price increases since we began looking at the market we felt renting was going to be dead money and we need to buy for economical reasons.
So in June 1999 we purchased a 1,950 sqft house for $280,000.
In September 2003 we sold that house for $535,000.
Using the increased equity my wife who is H4 chose another house (as she couldn’t work it was important to me that she be happy in the house). The next house we purchased was 4,550sqft, and in December 2003 it cost $835,000.
I know the market for real estate is shrinking, but according to Zillow.com this morning the property is valued around $1,230,000 albeit was worth considerably more a year ago.
I’m not looking to brag, I am sharing my experience.
1 my wife and kids were on H4 they needed a home to be happy in.
2 it made economic sense to buy
3 we got the right funding
4 had we waited for GC we could never have afforded the home we currently live in.
The timing of immigration approvals had no bearing on whether I decided to purchase property.
good luck to all
I agree with Singh who said those were different times .. and you are lucky too (And qualified I guess)..many in california could not afford to keep their cars during last slowdown (my friend brought brand new mustang and then had to sell it for 12 k ..4 month old car - 3000 miles on it) in a hurry. people left their cars in parking lots (thats what I heard). buying a house makes sense if you know you will be in that place for a long time - and the price is right..(last few years it was like crazy speculation) see the link I had posted in my prev posting ..it is a horror story now.
does it make sense to buy in california now ? it would be sheer stupidity (in my view) ..maybe after price comes down another 20 percent would be right time to buy.
http://www.marketwatch.com/news/story/tragedy-recession-its-bad-ending/story.aspx?guid=%7B5D72D7E3%2D76BB%2D4CAB%2DB4D0%2 D60F87DA734B7%7D
in the end it is supply and demand ,....supply is huge for housing and is growing ..there is no (negligible) demand ..and hence even small increase in demand helps ..this is economics 101 !!!
the other point(and the main point) is to use this to highlight our problems(and to keep on trying ) ..and hope that someone listens. the other option ofcourse is to let things drag on ....
these are first few main points of the article
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1. Home prices will fall 20% to 30% from the peak
Roughly $4 trillion to $6 trillion of household wealth will vanish. Large home builders may go bankrupt, triggering further declines in home-builder stocks. Even Fed Chairman Ben Bernanke admitted last week that housing prices could fall into 2009.
2. Prime and near-prime mortgages losses
"This is a generalized mortgage crisis and meltdown, not just a subprime one," warns Roubini. "About 60% of all mortgage origination from 2005 through 2007 had these reckless and toxic features. And losses among all sorts of mortgages will sharply increase as home prices fall sharply and the economy." Add another $300 billion in losses