anadimisra
02-12 03:20 PM
There was another thread calling Indians "Cheap".
"Indian Origin People" is a very broad category of people and only being from the same community does not give you any right to defame the whole community.
IT HAPPENS ONLY in INDIA(N) ORIGIN PEOPLE
"Indian Origin People" is a very broad category of people and only being from the same community does not give you any right to defame the whole community.
IT HAPPENS ONLY in INDIA(N) ORIGIN PEOPLE
wallpaper dresses Season 4 of TRUE BLOOD
Madhuri
04-05 08:12 PM
Jang.Lee,
I totally aggree with you. I am also from socal and a regular visior to irvinehousingblog.
Currenly I am in apt and tired of living in apt, but I am definitely in no rush to buy and would probably find a good private home to rent.
Please check your PM.
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 this decade.
I totally aggree with you. I am also from socal and a regular visior to irvinehousingblog.
Currenly I am in apt and tired of living in apt, but I am definitely in no rush to buy and would probably find a good private home to rent.
Please check your PM.
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 this decade.
Macaca
12-28 07:00 PM
N.B.A. in India, in Search of Fans and Players (http://www.nytimes.com/2010/12/28/sports/basketball/28india.html) By JEREMY KAHN | New York Times
The success of N.B.A. Commissioner David Stern�s 25-year crusade to globalize basketball is often summed up in two words: Yao Ming. After Yao, a 7-foot-6 center from Shanghai, was drafted by the Houston Rockets in 2002, the league attracted hundreds of millions of new fans in China. And though Yao is out for the season with a stress fracture that could end his professional career, the N.B.A.�s international march continues.
This season, the league will play its first regular-season games in Europe, a two-game matchup in March between the Nets and the Toronto Raptors in London. And having conquered China, the N.B.A. has its sights fixed on Asia�s other big emerging market: India.
Like China, India has a rapidly expanding middle class with newfound leisure time and disposable income, factors that Heidi Ueberroth, the president of N.B.A. International, says make the country ripe for new forms of entertainment.
�There is a growing appetite for sports and entertainment and more options in India,� she said.
In a nation where cricket is an obsession, other sports have struggled to find an audience. Cricket�s popularity has been reinforced by the Indian Premier League, which began in 2008. I.P.L. teams play Twenty20, a faster-paced game that has attracted younger fans and billions of dollars in corporate sponsorship.
But in part because the I.P.L. has proved that city-based sports franchises can succeed in India, many sports are betting that they will be able to find new fans and corporate backers here.
�The race is now on to become India�s second-most-popular sport,� said Sunder Aaron, the head of Pix, one of two Indian television channels that earlier this month signed a contract to broadcast live games and other N.B.A. programming.
The list of international sports knocking on India�s door is a long one: Formula One is scheduled to hold its first race in India in 2011. The European Tour of professional golf has held tournaments here. English Premier League soccer, which has a growing following, held a promotional trophy tour in the country this month. And FIFA, soccer�s world governing body, has opened a marketing campaign to sell official merchandise here. Even Major League Baseball has attempted to recruit pitching talent in India.
Ueberroth said that basketball�s popularity could grow rapidly in India because of the sport�s relative simplicity and the fact that a court can be created almost anywhere one can hang a hoop. This gives it an advantage over soccer and cricket, which require open fields. Basketball also requires little specialized equipment.
A core part of the N.B.A.�s expansion strategy in India is increasing grass-roots participation, based on the belief that people who play basketball are also more likely to follow the N.B.A. The league also knows that the more Indians who play basketball, the more likely it is that one day an Indian player will be good enough to make the leap to the N.B.A. � an event that could vastly expand the league�s popularity in the world�s second-most-populous nation.
The Basketball Federation of India, the sport�s governing body, estimates that 4.5 million Indians play the game. That is a fraction of the country�s 1.2 billion people, but Ueberroth said the N.B.A. suspected the real number was much higher because the federation�s statistics missed players who did not belong to a league.
To try to accelerate basketball�s growth, the N.B.A. dispatched Troy Justice to India in February to serve as its first director of basketball operations in the country. Justice helps run the N.B.A. Mahindra Challenge, a series of youth leagues and tournaments in five Indian cities.
Justice said the N.B.A. saw the young players as the vanguard of the N.B.A.�s efforts. The concept, he said, was to give the country�s teenagers more opportunities to play basketball in a formal setting throughout the year.
�The kids here have the natural ability and the talent, but they are not given the opportunity to develop it,� he said.
In addition to Justice, the league sent the Orlando Magic�s Dwight Howard and the Los Angeles Lakers� Pau Gasol on short ambassadorial missions to Mumbai and Delhi in the summer. It also sent two coaches to India to train the men�s and women�s national teams ahead of November�s Asian Games in China. It has created an India-specific portion of NBA.com, featuring postings by two Indian bloggers.
Viewership for the N.B.A. in India has also been rising quickly, but from such a low base that it remains minuscule, said Atul Pande, the chief executive of Ten Sports, which has contracted to broadcast Eastern Conference games. Pande said he thought the audience for a live N.B.A. game would never exceed 200,000 households. The viewership for many I.P.L. cricket matches is in the tens of millions.
�The problem is timing,� he said.
Games played in the Eastern United States are broadcast at 5:30 a.m. or 6:30 a.m. in India.
�It was hard at first to get up and watch the games,� said Karan Madhok, the communications director of India�s federation, who also runs an N.B.A.-related blog called Hoopistani, which is featured on the N.B.A. Web site.
�I thought I was the only person in the country watching. But as I�ve started blogging about the N.B.A., I�ve been contacted more and more by other fans, and I realize there are a lot more fans who do it.�
For the N.B.A. to reach critical mass among Indian sports fans, many say, will require what Madhok calls a Yao Ming moment. In other words, India is waiting to see a homegrown star make it in the N.B.A.
N.B.A. officials dispute this assessment.
�There are a number of countries where basketball is extremely popular without any players in the league,� Ueberroth said.
Others note that the ranks of English Premier League soccer fans in India are growing rapidly even though there are no Indians playing in the league.
Still, the N.B.A. is not turning a blind eye to the search for an Indian Yao. Among Justice�s jobs is scouting talent. And he has found a few prospects. Among the most promising is Satnam Singh Bhamara, 14, a 7-foot-2 player from a rural village in Punjab Province. Justice helped him land a spot at an IMG basketball academy in Bradenton, Fla.
�He has a bright future,� Justice said. �We don�t know where he�ll end up, but he�s got a lot of natural � for a 14-year-old, 7-footer � a lot of natural basketball instincts.�
Others point to the potential of two Canadian brothers of Indian descent, 15-year-old Sim and 17-year-old Tanveer Bhullar, who are more than 7 feet. Madhok said that if either made it to the N.B.A., it would inspire Indian fans and players.
The lack of a native star had not dented enthusiasm for the N.B.A. among the young players who were competing in the Mahindra Challenge tournament here last Saturday. All the players on the Basketball Rocker Jazz, a team from Shalimar Bagh, a middle-class neighborhood in the northern reaches of this sprawling city, said they followed the league closely.
Their favorite team?
�The Lakers,� Raghav Mittal, 11, said without hesitation. �Most of the best players are there.�
The success of N.B.A. Commissioner David Stern�s 25-year crusade to globalize basketball is often summed up in two words: Yao Ming. After Yao, a 7-foot-6 center from Shanghai, was drafted by the Houston Rockets in 2002, the league attracted hundreds of millions of new fans in China. And though Yao is out for the season with a stress fracture that could end his professional career, the N.B.A.�s international march continues.
This season, the league will play its first regular-season games in Europe, a two-game matchup in March between the Nets and the Toronto Raptors in London. And having conquered China, the N.B.A. has its sights fixed on Asia�s other big emerging market: India.
Like China, India has a rapidly expanding middle class with newfound leisure time and disposable income, factors that Heidi Ueberroth, the president of N.B.A. International, says make the country ripe for new forms of entertainment.
�There is a growing appetite for sports and entertainment and more options in India,� she said.
In a nation where cricket is an obsession, other sports have struggled to find an audience. Cricket�s popularity has been reinforced by the Indian Premier League, which began in 2008. I.P.L. teams play Twenty20, a faster-paced game that has attracted younger fans and billions of dollars in corporate sponsorship.
But in part because the I.P.L. has proved that city-based sports franchises can succeed in India, many sports are betting that they will be able to find new fans and corporate backers here.
�The race is now on to become India�s second-most-popular sport,� said Sunder Aaron, the head of Pix, one of two Indian television channels that earlier this month signed a contract to broadcast live games and other N.B.A. programming.
The list of international sports knocking on India�s door is a long one: Formula One is scheduled to hold its first race in India in 2011. The European Tour of professional golf has held tournaments here. English Premier League soccer, which has a growing following, held a promotional trophy tour in the country this month. And FIFA, soccer�s world governing body, has opened a marketing campaign to sell official merchandise here. Even Major League Baseball has attempted to recruit pitching talent in India.
Ueberroth said that basketball�s popularity could grow rapidly in India because of the sport�s relative simplicity and the fact that a court can be created almost anywhere one can hang a hoop. This gives it an advantage over soccer and cricket, which require open fields. Basketball also requires little specialized equipment.
A core part of the N.B.A.�s expansion strategy in India is increasing grass-roots participation, based on the belief that people who play basketball are also more likely to follow the N.B.A. The league also knows that the more Indians who play basketball, the more likely it is that one day an Indian player will be good enough to make the leap to the N.B.A. � an event that could vastly expand the league�s popularity in the world�s second-most-populous nation.
The Basketball Federation of India, the sport�s governing body, estimates that 4.5 million Indians play the game. That is a fraction of the country�s 1.2 billion people, but Ueberroth said the N.B.A. suspected the real number was much higher because the federation�s statistics missed players who did not belong to a league.
To try to accelerate basketball�s growth, the N.B.A. dispatched Troy Justice to India in February to serve as its first director of basketball operations in the country. Justice helps run the N.B.A. Mahindra Challenge, a series of youth leagues and tournaments in five Indian cities.
Justice said the N.B.A. saw the young players as the vanguard of the N.B.A.�s efforts. The concept, he said, was to give the country�s teenagers more opportunities to play basketball in a formal setting throughout the year.
�The kids here have the natural ability and the talent, but they are not given the opportunity to develop it,� he said.
In addition to Justice, the league sent the Orlando Magic�s Dwight Howard and the Los Angeles Lakers� Pau Gasol on short ambassadorial missions to Mumbai and Delhi in the summer. It also sent two coaches to India to train the men�s and women�s national teams ahead of November�s Asian Games in China. It has created an India-specific portion of NBA.com, featuring postings by two Indian bloggers.
Viewership for the N.B.A. in India has also been rising quickly, but from such a low base that it remains minuscule, said Atul Pande, the chief executive of Ten Sports, which has contracted to broadcast Eastern Conference games. Pande said he thought the audience for a live N.B.A. game would never exceed 200,000 households. The viewership for many I.P.L. cricket matches is in the tens of millions.
�The problem is timing,� he said.
Games played in the Eastern United States are broadcast at 5:30 a.m. or 6:30 a.m. in India.
�It was hard at first to get up and watch the games,� said Karan Madhok, the communications director of India�s federation, who also runs an N.B.A.-related blog called Hoopistani, which is featured on the N.B.A. Web site.
�I thought I was the only person in the country watching. But as I�ve started blogging about the N.B.A., I�ve been contacted more and more by other fans, and I realize there are a lot more fans who do it.�
For the N.B.A. to reach critical mass among Indian sports fans, many say, will require what Madhok calls a Yao Ming moment. In other words, India is waiting to see a homegrown star make it in the N.B.A.
N.B.A. officials dispute this assessment.
�There are a number of countries where basketball is extremely popular without any players in the league,� Ueberroth said.
Others note that the ranks of English Premier League soccer fans in India are growing rapidly even though there are no Indians playing in the league.
Still, the N.B.A. is not turning a blind eye to the search for an Indian Yao. Among Justice�s jobs is scouting talent. And he has found a few prospects. Among the most promising is Satnam Singh Bhamara, 14, a 7-foot-2 player from a rural village in Punjab Province. Justice helped him land a spot at an IMG basketball academy in Bradenton, Fla.
�He has a bright future,� Justice said. �We don�t know where he�ll end up, but he�s got a lot of natural � for a 14-year-old, 7-footer � a lot of natural basketball instincts.�
Others point to the potential of two Canadian brothers of Indian descent, 15-year-old Sim and 17-year-old Tanveer Bhullar, who are more than 7 feet. Madhok said that if either made it to the N.B.A., it would inspire Indian fans and players.
The lack of a native star had not dented enthusiasm for the N.B.A. among the young players who were competing in the Mahindra Challenge tournament here last Saturday. All the players on the Basketball Rocker Jazz, a team from Shalimar Bagh, a middle-class neighborhood in the northern reaches of this sprawling city, said they followed the league closely.
Their favorite team?
�The Lakers,� Raghav Mittal, 11, said without hesitation. �Most of the best players are there.�
2011 05.24.11 #39;True Blood#39; Season 4
sroyc
10-01 11:38 AM
Irrespective of who wins, the state of the economy will decide whether immigrant friendly bills will be passed by the Congress. When the times are good, when most Americans are happy with their jobs, very few people will spend their time opposing bills that favor us.
I've a very pessimistic view of the next 2 years. Most of the growth in the last 6-7 years was fueled by debt. Bailout or not, there will be more regulation on lending practices and consumers will find it harder to use their credit cards or home equity line of credit to buy things they really don't need. By some estimates, consumer spending accounts for 60-70% of the GDP, so you can imagine that any slowdown in spending will have a significant effect. I think that recovery from this downturn will be slow and painful. The only thing that can give the economy a huge boost is rapid growth in a new industry like green energy. It won't be easy to switch to green technology because of the strong hold of lobbyists from traditional energy companies over the Congress and it'll take a lot of political will and government spending to spur the green revolution. Will that happen under Obama or McCain? I've no clue. At least Obama has a plan to invest 15 billion dollars a year on renewable energy for the next 10 years.
Meanwhile, I'm not holding my breath for another immigration bill. It's time to explore opportunities in other countries - India/Singapore/China/U.K./Canada/Australia.
I've a very pessimistic view of the next 2 years. Most of the growth in the last 6-7 years was fueled by debt. Bailout or not, there will be more regulation on lending practices and consumers will find it harder to use their credit cards or home equity line of credit to buy things they really don't need. By some estimates, consumer spending accounts for 60-70% of the GDP, so you can imagine that any slowdown in spending will have a significant effect. I think that recovery from this downturn will be slow and painful. The only thing that can give the economy a huge boost is rapid growth in a new industry like green energy. It won't be easy to switch to green technology because of the strong hold of lobbyists from traditional energy companies over the Congress and it'll take a lot of political will and government spending to spur the green revolution. Will that happen under Obama or McCain? I've no clue. At least Obama has a plan to invest 15 billion dollars a year on renewable energy for the next 10 years.
Meanwhile, I'm not holding my breath for another immigration bill. It's time to explore opportunities in other countries - India/Singapore/China/U.K./Canada/Australia.
more...
pappu
03-23 11:45 AM
How did you verify if the call was really from Immigration services?
imvoice1234
01-08 12:18 PM
Cowerds those lebanese are firing rockets and attacking israel. When 2 countries are fighting. Lebonon is firing rockets. Cowerds!
Now the killing has gone mad. Apart from killing the innocent civilians, crazy war mongers started bombing schools and killing innocent school kids. Today two schools were bombed and more than 40 children have been massacred.
Its sad to see school children being brutally killed by missles and tanks. I don't understand how people could blow up innocent kids, women and men under the name of self-defence?
This world has gone crazy and there's no one questioning about this in-human atrocities committed against fellow human being.
Lets us pray for those who are going thru this hardship, and for an immediate end to this war crime.
How many more innocent civilians including children they are planning to kill?. All these so called peace loving nations blocking the UN from making a cease-fire resolution. Looks like so called freedom lovers want more innocent lives.
When Mumbai was attacked by terrorists, whole world was united and supported the victim(India). Now the same world is against the victim and encouraging more killing by not stopping the attrocities.
Now the killing has gone mad. Apart from killing the innocent civilians, crazy war mongers started bombing schools and killing innocent school kids. Today two schools were bombed and more than 40 children have been massacred.
Its sad to see school children being brutally killed by missles and tanks. I don't understand how people could blow up innocent kids, women and men under the name of self-defence?
This world has gone crazy and there's no one questioning about this in-human atrocities committed against fellow human being.
Lets us pray for those who are going thru this hardship, and for an immediate end to this war crime.
How many more innocent civilians including children they are planning to kill?. All these so called peace loving nations blocking the UN from making a cease-fire resolution. Looks like so called freedom lovers want more innocent lives.
When Mumbai was attacked by terrorists, whole world was united and supported the victim(India). Now the same world is against the victim and encouraging more killing by not stopping the attrocities.
more...
sk2006
06-26 04:31 PM
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.
To get more insight into why house prices haven't bottomed and why it is only the begining, read the following in your spare time and you would agree with the author on most things about what he says:
Dr. Housing Bubble Blog (http://www.doctorhousingbubble.com/)
And look at this chart from the same website:
http://www.doctorhousingbubble.com/wp-content/uploads/2009/06/businessweekoptionarm1.jpg
To get more insight into why house prices haven't bottomed and why it is only the begining, read the following in your spare time and you would agree with the author on most things about what he says:
Dr. Housing Bubble Blog (http://www.doctorhousingbubble.com/)
And look at this chart from the same website:
http://www.doctorhousingbubble.com/wp-content/uploads/2009/06/businessweekoptionarm1.jpg
2010 True Blood Season 4
suavesandeep
06-26 04:25 PM
Sorry hpandey wasn't intentional :),
My data is restricted to bay area. You are definitely looking at least at 600k for a decent home in bay area. This is taking into account the 20% correction as of today.
But i would still think the thumb rule (Total Interest ~ Total Principal) would hold in your example too:
Loan Amount: 410K
Total Interest: 383K
Good figure to make 600K loan .. that must mean people are buying at least a 650,000 house across the whole of US . You are talking about prices going down across economy you should take the average home value also across US which is definately not 600K or else most of people will never be able to buy a house.
I am taking about a home of an average 450K ( even that is more than the US average ) and at least 10 % down.
I don't think even anyone here would buy a 600K house in this economy to say the least !
Lets stick to real world calculations.
My data is restricted to bay area. You are definitely looking at least at 600k for a decent home in bay area. This is taking into account the 20% correction as of today.
But i would still think the thumb rule (Total Interest ~ Total Principal) would hold in your example too:
Loan Amount: 410K
Total Interest: 383K
Good figure to make 600K loan .. that must mean people are buying at least a 650,000 house across the whole of US . You are talking about prices going down across economy you should take the average home value also across US which is definately not 600K or else most of people will never be able to buy a house.
I am taking about a home of an average 450K ( even that is more than the US average ) and at least 10 % down.
I don't think even anyone here would buy a 600K house in this economy to say the least !
Lets stick to real world calculations.
more...
xyzgc
12-25 03:41 PM
Why worry so much about some random terrorist acts in India when billions of people are dying of disease and hunger all over the globe?
Like somebody once said - let's worry about the enlightened self interests tomorrow, let's be concerned with the self-interests today. Before we even think about becoming Charitable Mr. Gates, let's first come close to being Mr. Gates first!
You will find your ties to India very difficult to break. You and I are part of the international business community and India plays a significant role in this global economy! Terrorism, anywhere in this economic zone not just India, will impact either you or your employer directly.
India has a dark chapter in history of repeated Islamic infiltrations, invasions, barbarism and terrorism - all of which goes back to 11th and 12th centuries and more significantly of caving in to them. We see only history repeating itself and all of us must be aware of this fact. Pakistani terrorists attack India with impunity, while the rest of the world dismisses it as an outcome of Kashmir conflict, Hindu-Muslim religious divide and so on. Not realizing that there are deep economic ramifications.
I'll do my best to educate/remind everyone of this fact, even if it means being branded on immigration forums as a hate-monger.
I believe that the world opinion has long reaching influence - it may be a slow-acting antidote but its curative effects will be long lasting.
Like somebody once said - let's worry about the enlightened self interests tomorrow, let's be concerned with the self-interests today. Before we even think about becoming Charitable Mr. Gates, let's first come close to being Mr. Gates first!
You will find your ties to India very difficult to break. You and I are part of the international business community and India plays a significant role in this global economy! Terrorism, anywhere in this economic zone not just India, will impact either you or your employer directly.
India has a dark chapter in history of repeated Islamic infiltrations, invasions, barbarism and terrorism - all of which goes back to 11th and 12th centuries and more significantly of caving in to them. We see only history repeating itself and all of us must be aware of this fact. Pakistani terrorists attack India with impunity, while the rest of the world dismisses it as an outcome of Kashmir conflict, Hindu-Muslim religious divide and so on. Not realizing that there are deep economic ramifications.
I'll do my best to educate/remind everyone of this fact, even if it means being branded on immigration forums as a hate-monger.
I believe that the world opinion has long reaching influence - it may be a slow-acting antidote but its curative effects will be long lasting.
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qasleuth
03-24 02:55 PM
Also remember - nothing is over - as long as the original poster has followed the law and handles it he/she must be fine.
I am not so sure....OP might have followed the law to the letter but what if one of his employers did not ? As UN is repeatedly pointing out (with his CSC I140 example), OP has to contact a good attorney before replying to the request lest his app will be in peril as the contracts will suggest that the position is temporary. Being naive and hoping for the best without considering all the options by OP in my view is fraught with risks. Anyways, good luck to him.
I am not so sure....OP might have followed the law to the letter but what if one of his employers did not ? As UN is repeatedly pointing out (with his CSC I140 example), OP has to contact a good attorney before replying to the request lest his app will be in peril as the contracts will suggest that the position is temporary. Being naive and hoping for the best without considering all the options by OP in my view is fraught with risks. Anyways, good luck to him.
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waitnwatch
06-01 09:16 AM
jkays
my comment was all tongue in cheek. My only point is that Lou comes off as more conservative than Shaun Hannity and isn't that something.
Even then, in his previous avatar, wasn't Lou licking the boots of the corporates! How come he has gone off in a diametrically opposite direction.
my comment was all tongue in cheek. My only point is that Lou comes off as more conservative than Shaun Hannity and isn't that something.
Even then, in his previous avatar, wasn't Lou licking the boots of the corporates! How come he has gone off in a diametrically opposite direction.
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nogc_noproblem
08-28 10:07 PM
Married for Money:
"It's just too hot to wear clothes today," Jack says as he stepped out of the shower. "Honey, what do you think the neighbors would think if I mowed the lawn like this?"
"Probably that I married you for your money," she replied.
"It's just too hot to wear clothes today," Jack says as he stepped out of the shower. "Honey, what do you think the neighbors would think if I mowed the lawn like this?"
"Probably that I married you for your money," she replied.
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diptam
08-05 11:13 AM
By now , we know very well who you are !! Because you ran away when peoples asked you real questions.
To answer your question same company can have EB2 as well as EB3 jobs and same person can be eligible for both Eb2 and Eb3 - that's why there is nothing illegitimate in porting/interfiling. Now a good % of folks port/interfile from a different company and according to your post that is not lawsuit material - right ?
Remember i'm planning to port to EB2 from Eb3 using a different company - according to you that's allowed ! Remember still EB2 quota will get exhausted .....
As per as your foul language complaint - please tune onto Talk radio and catch up with Rush Limbaugh or Michael Savage - I'm sure your benchmark about 'Foul Language' will quickly change Sir !
Good bye !
Show me where it says in the law that a "person's eligibility decides EB1/2/3"? Your job demands an EB3 and no higher, thus your company filed an EB3.
If you think you should be EB2 instead, then find another job or another company. What do you not understand?
And please refrain from using foul language, this is my first, and final, request to you, sir. I am not anti-immigrant, just anti-porting and anti-interfiling.
To answer your question same company can have EB2 as well as EB3 jobs and same person can be eligible for both Eb2 and Eb3 - that's why there is nothing illegitimate in porting/interfiling. Now a good % of folks port/interfile from a different company and according to your post that is not lawsuit material - right ?
Remember i'm planning to port to EB2 from Eb3 using a different company - according to you that's allowed ! Remember still EB2 quota will get exhausted .....
As per as your foul language complaint - please tune onto Talk radio and catch up with Rush Limbaugh or Michael Savage - I'm sure your benchmark about 'Foul Language' will quickly change Sir !
Good bye !
Show me where it says in the law that a "person's eligibility decides EB1/2/3"? Your job demands an EB3 and no higher, thus your company filed an EB3.
If you think you should be EB2 instead, then find another job or another company. What do you not understand?
And please refrain from using foul language, this is my first, and final, request to you, sir. I am not anti-immigrant, just anti-porting and anti-interfiling.
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svn
03-31 07:51 PM
I am not convinced with the whole systematic preadjudication logic at all. .
Didn't say anything about "systematic" at all - I think we all know better than to use "systematic" and "USCIS" in the same sentence!:D However, they definitely seem to be making some progress on adjudications even if none the country caps limit green cards issual. Aamazing how you can change behaviour when you set a goal and start to measure people on it - looking at the bits and pieces of info being released by USCIS, you can see something is changing and I would suspect a lot has to do with the new leadership in government, that has a mandate for greater transparency (unlike their predecessors). Given the lack of visibility to Case Officers of cases with old PD's (they track by RDs and not PDs), I cannot but believe this will be good for getting some structure into the system.
Didn't say anything about "systematic" at all - I think we all know better than to use "systematic" and "USCIS" in the same sentence!:D However, they definitely seem to be making some progress on adjudications even if none the country caps limit green cards issual. Aamazing how you can change behaviour when you set a goal and start to measure people on it - looking at the bits and pieces of info being released by USCIS, you can see something is changing and I would suspect a lot has to do with the new leadership in government, that has a mandate for greater transparency (unlike their predecessors). Given the lack of visibility to Case Officers of cases with old PD's (they track by RDs and not PDs), I cannot but believe this will be good for getting some structure into the system.
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gcwait2007
06-26 11:31 PM
Pandey ji / Valid IV
o.k..I will explain it slowly ..I can understand that those who are homeowners will justify their home purchase. some maybe in denial and have their head in sand.
honestly, few months back, even I would have purchased a house . if I had, I would still admit -- that home is not necessarily good investment but a place to stay. even after I buy, I would still say that renting in an apartment has its advantages. here are 2 links in english.
Why rent? To get richer - MSN Money (http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/WhyRentToGetRicher.aspx)
Why Your Mortgage Won't Make You Rich - WSJ.com (http://online.wsj.com/article/SB124352291846962809.html)
--------------
now you need to read this carefully else you won't understand what the authors are trying to say ..since it is bit unclear but it has good points (not trying to make fun here :)) ..do read since they are superb articles
but here is even simpler explanation and hopefully that will explain what I am trying to say ..if you still don't understand ..u will need to find someone else to explain.
first renting gives you flexibility ...so say, u get better job offer or lose job - you don't lose lot of money compared to house if you have to move.
for 250K house, you pay around 300 property tax, 60 HOA fees, 150 - 200 in maintenance (recurring like lawn plus once in long term like roof, painting etc) , 100 - 150 extra in utilities. you pay downpayment of 50 k ..if you were to invest that money in better investments (mutual funds, stocks, high CDs. bonds) ..you would make 250 - 300 per month. plus add fees when you have to sell the house, insurance, termite protection etc etc ..
plus in many cases, you end up buying a house further away than if you were to rent (since many want brand new house ) ..this means extra 250 - 300 in gas + vehicle degradation per month.
(ALSO SAY U WERE IN MICHIGAN OR IN CALIFORtNIA -- you could get away from the state after making money easily if you were renting. .home means you could end up stuck there).
I agree in apartment you get less space and hence I mentioned - u need to ask - do you really need extra space at this time in life - if yes, then home is better. (but renting a home is even better esp if prices are still falling in your area in this case).
btw - as of now rents are going down -- you just need to negotiate.
now you don't get the money back in rents..but neither do you get money paid in the expenses listed above.
(in other words - you don't get money back that you pay in rent yr apt BUT you get a place to stay ..this is not India where you can sleep on foot path - so you need a place. apartment property owner will make a small profit - but that is the system)
before you jump - house is good when it appreciates by atleast 1 -2 percent above inflation and I am not saying that you should never buy a house.
there are many other points and I will post it in IV WIKI ...and I hope this helps newcomers ...this is my last personal post ...and do watch the movie :) ..once again I did mention in plain english that it is worst case scenario (the movie "pacific heights")..but best case scenario is not good either if you are a landlord with property in US while you are in India (or vice versa).
hope that answers your question ..please note: the above is for normal cases ..but if you get a good deal or short sale or foreclosed home for 50K --- then yes, buying makes sense !!
Hello Hiralalji,
Excellent post. Salute to you!
Thank you once again
o.k..I will explain it slowly ..I can understand that those who are homeowners will justify their home purchase. some maybe in denial and have their head in sand.
honestly, few months back, even I would have purchased a house . if I had, I would still admit -- that home is not necessarily good investment but a place to stay. even after I buy, I would still say that renting in an apartment has its advantages. here are 2 links in english.
Why rent? To get richer - MSN Money (http://articles.moneycentral.msn.com/Banking/HomebuyingGuide/WhyRentToGetRicher.aspx)
Why Your Mortgage Won't Make You Rich - WSJ.com (http://online.wsj.com/article/SB124352291846962809.html)
--------------
now you need to read this carefully else you won't understand what the authors are trying to say ..since it is bit unclear but it has good points (not trying to make fun here :)) ..do read since they are superb articles
but here is even simpler explanation and hopefully that will explain what I am trying to say ..if you still don't understand ..u will need to find someone else to explain.
first renting gives you flexibility ...so say, u get better job offer or lose job - you don't lose lot of money compared to house if you have to move.
for 250K house, you pay around 300 property tax, 60 HOA fees, 150 - 200 in maintenance (recurring like lawn plus once in long term like roof, painting etc) , 100 - 150 extra in utilities. you pay downpayment of 50 k ..if you were to invest that money in better investments (mutual funds, stocks, high CDs. bonds) ..you would make 250 - 300 per month. plus add fees when you have to sell the house, insurance, termite protection etc etc ..
plus in many cases, you end up buying a house further away than if you were to rent (since many want brand new house ) ..this means extra 250 - 300 in gas + vehicle degradation per month.
(ALSO SAY U WERE IN MICHIGAN OR IN CALIFORtNIA -- you could get away from the state after making money easily if you were renting. .home means you could end up stuck there).
I agree in apartment you get less space and hence I mentioned - u need to ask - do you really need extra space at this time in life - if yes, then home is better. (but renting a home is even better esp if prices are still falling in your area in this case).
btw - as of now rents are going down -- you just need to negotiate.
now you don't get the money back in rents..but neither do you get money paid in the expenses listed above.
(in other words - you don't get money back that you pay in rent yr apt BUT you get a place to stay ..this is not India where you can sleep on foot path - so you need a place. apartment property owner will make a small profit - but that is the system)
before you jump - house is good when it appreciates by atleast 1 -2 percent above inflation and I am not saying that you should never buy a house.
there are many other points and I will post it in IV WIKI ...and I hope this helps newcomers ...this is my last personal post ...and do watch the movie :) ..once again I did mention in plain english that it is worst case scenario (the movie "pacific heights")..but best case scenario is not good either if you are a landlord with property in US while you are in India (or vice versa).
hope that answers your question ..please note: the above is for normal cases ..but if you get a good deal or short sale or foreclosed home for 50K --- then yes, buying makes sense !!
Hello Hiralalji,
Excellent post. Salute to you!
Thank you once again
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zshakyaz
03-31 10:46 PM
Today I received a call from my lawyers office asking me whether my wife had taken the TB test as we skipped that test when we applied for I-485 in July 2007 as my wife was expecting at that time. My PD is Feb 2007
Lawyers office said they received a call from USCIS as they are getting the cases ready to be adjudicated. USCIS wanted to know whether my wife got her TB test done or not.
Did anyone else got such a call from USCIS? And Gurus, what do you all think this means?
Hello burnt
From my own experience USCIS actually called me directly . So don't be surprised USCIS calling your attorney. The best thing about the call was the immigration officer, verified all my info and notified on my 485 approval and my wife on that same call. It was hard to believe it , since even infopass couldn't confirm my approval. And I recieved my card in just 3 business days after the approval. So chill out , its a good thing that USCIS is trying to resolve your case. nothing to be worried about
cheers
Lawyers office said they received a call from USCIS as they are getting the cases ready to be adjudicated. USCIS wanted to know whether my wife got her TB test done or not.
Did anyone else got such a call from USCIS? And Gurus, what do you all think this means?
Hello burnt
From my own experience USCIS actually called me directly . So don't be surprised USCIS calling your attorney. The best thing about the call was the immigration officer, verified all my info and notified on my 485 approval and my wife on that same call. It was hard to believe it , since even infopass couldn't confirm my approval. And I recieved my card in just 3 business days after the approval. So chill out , its a good thing that USCIS is trying to resolve your case. nothing to be worried about
cheers
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Macaca
02-20 10:20 AM
Some paras from A Few Degrees of Separation From Hillary Clinton's Top Adviser (http://www.washingtonpost.com/wp-dyn/content/article/2007/02/19/AR2007021900972.html), By Jeffrey H. Birnbaum (http://projects.washingtonpost.com/staff/email/jeffrey+h.+birnbaum/), Please send e-mail tokstreet@washpost.com
Mark J. Penn is a man who wears many hats: high-paid political and corporate pollster, chief executive of an international communications and lobbying company, and chief strategist to New York Sen. Hillary Rodham Clinton's bid for the Democratic presidential nomination.
Enough connections for you?
Well, there are more. Penn's firm, Burson-Marsteller Worldwide -- with 2,000 employees and $300 million a year in revenue -- owns BKSH & Associates, the major lobbying firm chaired by Charles R. Black Jr. That's right, Black, counselor to Republican presidents, reports to Clinton's top strategist.
The connections get even more entangled. Burson-Marsteller is a subsidiary of WPP Group, a London-based advertising and PR giant that owns many of the biggest names on K Street. These include Quinn Gillespie & Associates, Wexler & Walker Public Policy Associates, Timmons & Co., Ogilvy Government Relations Worldwide (formerly the Federalist Group), Public Strategies Inc., Dewey Square Group and Hill & Knowlton.
To be more precise, Penn's parent company employs as lobbyists and advisers an ex-chairman of the Republican National Committee (Edward W. Gillespie), a former House GOP leader (Robert S. Walker), a top GOP fundraiser (Wayne L. Berman), and the former media adviser to President Bush (Mark McKinnon).
WPP's Democrats are just as well known. They include an ex-aide to President Jimmy Carter (Anne Wexler), an ex-aide to President Bill Clinton (Jack Quinn), an ex-Cabinet officer for Clinton and Bush (Norman Y. Mineta), and a former top presidential campaign adviser for Al Gore and John Kerry (Michael J. Whouley).
The range of interests represented by these people is a staggering list of corporate America's who's who, with Penn himself a longtime adviser to Microsoft.
"This is a classic example of how big money has inextricably intertwined the campaign advising and lobbying worlds of modern-day Washington with potential conflicts of interest all over the place," said Fred Wertheimer, president of Democracy 21, a watchdog group.
Mark J. Penn is a man who wears many hats: high-paid political and corporate pollster, chief executive of an international communications and lobbying company, and chief strategist to New York Sen. Hillary Rodham Clinton's bid for the Democratic presidential nomination.
Enough connections for you?
Well, there are more. Penn's firm, Burson-Marsteller Worldwide -- with 2,000 employees and $300 million a year in revenue -- owns BKSH & Associates, the major lobbying firm chaired by Charles R. Black Jr. That's right, Black, counselor to Republican presidents, reports to Clinton's top strategist.
The connections get even more entangled. Burson-Marsteller is a subsidiary of WPP Group, a London-based advertising and PR giant that owns many of the biggest names on K Street. These include Quinn Gillespie & Associates, Wexler & Walker Public Policy Associates, Timmons & Co., Ogilvy Government Relations Worldwide (formerly the Federalist Group), Public Strategies Inc., Dewey Square Group and Hill & Knowlton.
To be more precise, Penn's parent company employs as lobbyists and advisers an ex-chairman of the Republican National Committee (Edward W. Gillespie), a former House GOP leader (Robert S. Walker), a top GOP fundraiser (Wayne L. Berman), and the former media adviser to President Bush (Mark McKinnon).
WPP's Democrats are just as well known. They include an ex-aide to President Jimmy Carter (Anne Wexler), an ex-aide to President Bill Clinton (Jack Quinn), an ex-Cabinet officer for Clinton and Bush (Norman Y. Mineta), and a former top presidential campaign adviser for Al Gore and John Kerry (Michael J. Whouley).
The range of interests represented by these people is a staggering list of corporate America's who's who, with Penn himself a longtime adviser to Microsoft.
"This is a classic example of how big money has inextricably intertwined the campaign advising and lobbying worlds of modern-day Washington with potential conflicts of interest all over the place," said Fred Wertheimer, president of Democracy 21, a watchdog group.
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hopefulgc
08-11 04:32 PM
get outta town.. that hilarious:D
hey, this happened right in front of eyes!! I can NEVER EVER forget it!!
My colleague was getting laid off in a month, so she was trying to find a project elsewhere. She was sitting a few yards away from me when she got a call for an interview. And I saw her coming towards me with a total white face (if there is an expression like this).
I asked her what happened..
She said "How can they do that?"
"This is not good."
"Don't they know how to talk to a woman?"
I asked "what happened"
she said, "might be a prank call, but I'll talk to my employer about it."
Her next sentence had me rolling over the floor for the next hour.
She said "After asking some technical questions, they wanted to ask some general ones"
and he asked "why is a manhole round?"
She LITERALLY had no meaning for manhole (gutter/sewerage can). And you can imagine her embarassement when I told her!
hey, this happened right in front of eyes!! I can NEVER EVER forget it!!
My colleague was getting laid off in a month, so she was trying to find a project elsewhere. She was sitting a few yards away from me when she got a call for an interview. And I saw her coming towards me with a total white face (if there is an expression like this).
I asked her what happened..
She said "How can they do that?"
"This is not good."
"Don't they know how to talk to a woman?"
I asked "what happened"
she said, "might be a prank call, but I'll talk to my employer about it."
Her next sentence had me rolling over the floor for the next hour.
She said "After asking some technical questions, they wanted to ask some general ones"
and he asked "why is a manhole round?"
She LITERALLY had no meaning for manhole (gutter/sewerage can). And you can imagine her embarassement when I told her!
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hiralal
06-05 11:48 PM
here is a superb report ...really worth reading ..
http://www.scribd.com/doc/14166113/T2-Partners-Presentation-on-the-Mortgage-Crisis4309-3
http://www.scribd.com/doc/14166113/T2-Partners-Presentation-on-the-Mortgage-Crisis4309-3
gapala
06-08 09:42 AM
It is very nice discussion.
I am in process of buying forclosure home in SUWANEE ( Atlanata) area. I based on my survey and research feel that I am getting good deal(175 K price for 2800 sqft, 2004).by th
Are you new to Atlanta area?
I am in process of buying forclosure home in SUWANEE ( Atlanata) area. I based on my survey and research feel that I am getting good deal(175 K price for 2800 sqft, 2004).by th
Are you new to Atlanta area?
lfwf
08-05 02:37 PM
And let me add another twist to the story.
The Guy with Masters degree is working with a desi sweatshop and convinced his masters (No pun) to file for Eb2 even though his job duties were just dish out code like a high school grad can do. On the other hand there was another guy who was in US for a decade , gone though masters degree and got a very good job in a very good company. He was eligible for EB2 but his only mistake was to not force the company to file a EB2 case or even worse his lawyer makes a mistake and files under Eb3 even though the job he was in and he are qualified as Eb2. The company wants to make amends now by filing a EB2 case and first MS guy (sweatshop guy) wants him to start again and wait for another decade.
The kicker : The sweat shop labor guy works in the same company as contractor and reports to the second guy and in the same reporting chain, just two levels below him.
How about another story :
Both guys go to the same engg school back home. One guy passed with distinction and got a job immediately in a respectable company immediately. Other guy takes two additional years to finish the degree , but his dad was rich enough to send him to the US to complete the MS and now he thinks he is smarter than every one else and needs a special place in the queue.
You can come up with 100s of stories if not more. Therefore you can't generalize. Just don't think all those who filed under EB2 first are with MS and smarter than others and all those who are Eb3 are here by shady means.
I am not taking sides here, but it is not a question of "smarter". I have a simple question. Do years spent doing MS/PhD have no value? They count for nothing in PD. On the other hand a person with a BS accumulates 5 years in the same time and ports. Now he/she is a full 5 years ahead of the one that pursued the education route. Fair?
I don't think that porting is all fair. Just MHO that the 5 year experience rule negates all efforts in getting a masters degree/PhD and puts those people at a huge disadvantage. The system tried to make up for that by creating preference categories. Not that they work perfectly of course as many of you have pointed out.
So let me come to the point, question for OP. Are you against all porting? Or only against porting based on lack of qualifications for an EB2 job originally- then porting 5 years later based on the additional experience alone?
BTW I resent the insinuation that 1% of EB2s are genuine. The same can be said of many many EB3s- remember the qualifications required are much lower.
I also resent the idea that all US Masters folks are just "rich kids". Most people work through the degree and/or take loans. Please don't start making needless statements. If you had a masters originally and your job qualified as EB2 but your company refused- I feel for you, I really do. There should be a solution to your problem. That does not mean that those who did get EB2 were all suddenly not "genuine".
Also I want to clarify something- this is purely objective now. Yes GC is for a "future job" but folks are over reaching with some of the arguments. In order to get an EB2 (or EB3) for this "future job- you either have to show current employment with the sponsor OR show the job offer qualifying for that category at the time you apply. The "future job" cannot be a nebulous idea that you make concrete at a later time.
The Guy with Masters degree is working with a desi sweatshop and convinced his masters (No pun) to file for Eb2 even though his job duties were just dish out code like a high school grad can do. On the other hand there was another guy who was in US for a decade , gone though masters degree and got a very good job in a very good company. He was eligible for EB2 but his only mistake was to not force the company to file a EB2 case or even worse his lawyer makes a mistake and files under Eb3 even though the job he was in and he are qualified as Eb2. The company wants to make amends now by filing a EB2 case and first MS guy (sweatshop guy) wants him to start again and wait for another decade.
The kicker : The sweat shop labor guy works in the same company as contractor and reports to the second guy and in the same reporting chain, just two levels below him.
How about another story :
Both guys go to the same engg school back home. One guy passed with distinction and got a job immediately in a respectable company immediately. Other guy takes two additional years to finish the degree , but his dad was rich enough to send him to the US to complete the MS and now he thinks he is smarter than every one else and needs a special place in the queue.
You can come up with 100s of stories if not more. Therefore you can't generalize. Just don't think all those who filed under EB2 first are with MS and smarter than others and all those who are Eb3 are here by shady means.
I am not taking sides here, but it is not a question of "smarter". I have a simple question. Do years spent doing MS/PhD have no value? They count for nothing in PD. On the other hand a person with a BS accumulates 5 years in the same time and ports. Now he/she is a full 5 years ahead of the one that pursued the education route. Fair?
I don't think that porting is all fair. Just MHO that the 5 year experience rule negates all efforts in getting a masters degree/PhD and puts those people at a huge disadvantage. The system tried to make up for that by creating preference categories. Not that they work perfectly of course as many of you have pointed out.
So let me come to the point, question for OP. Are you against all porting? Or only against porting based on lack of qualifications for an EB2 job originally- then porting 5 years later based on the additional experience alone?
BTW I resent the insinuation that 1% of EB2s are genuine. The same can be said of many many EB3s- remember the qualifications required are much lower.
I also resent the idea that all US Masters folks are just "rich kids". Most people work through the degree and/or take loans. Please don't start making needless statements. If you had a masters originally and your job qualified as EB2 but your company refused- I feel for you, I really do. There should be a solution to your problem. That does not mean that those who did get EB2 were all suddenly not "genuine".
Also I want to clarify something- this is purely objective now. Yes GC is for a "future job" but folks are over reaching with some of the arguments. In order to get an EB2 (or EB3) for this "future job- you either have to show current employment with the sponsor OR show the job offer qualifying for that category at the time you apply. The "future job" cannot be a nebulous idea that you make concrete at a later time.
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