Macaca
02-27 08:12 AM
Thank You, Mr. Chairman (http://www.washingtonpost.com/wp-dyn/content/article/2007/02/26/AR2007022601142_2.html).
If it's good to be a Democrat on K Street these days, it's even better to be a Democrat who once worked for a current chairman of a congressional tax-writing committee. That's clearly where the money is.
Timothy E. Punke, a former trade aide to Chairman Max Baucus (D-Mont.) of the Senate Finance Committee, was named a partner of Monument Policy Group, a lobbying firm. His new clients include heavyweights such as Microsoft and the Pharmaceutical Research and Manufacturers of America.
Former Baucus chief of staff Jeffrey A. Forbes of Cauthen Forbes & Williams also has a slew of new clients. They include Merck, Genentech, Ford and Intuit.
William A. Signer, a former staffer to Chairman Charles B. Rangel (D-N.Y.) of the House Ways and Means Committee, has a new job -- managing director of health-care and tax practices at Carmen Group. "His experience in understanding Chairman Rangel's goals and motivations are invaluable to clients," said David M. Carmen, president of the firm. Signer's ties to Rangel, Carmen added, were "definitely a factor" in his hiring.
If it's good to be a Democrat on K Street these days, it's even better to be a Democrat who once worked for a current chairman of a congressional tax-writing committee. That's clearly where the money is.
Timothy E. Punke, a former trade aide to Chairman Max Baucus (D-Mont.) of the Senate Finance Committee, was named a partner of Monument Policy Group, a lobbying firm. His new clients include heavyweights such as Microsoft and the Pharmaceutical Research and Manufacturers of America.
Former Baucus chief of staff Jeffrey A. Forbes of Cauthen Forbes & Williams also has a slew of new clients. They include Merck, Genentech, Ford and Intuit.
William A. Signer, a former staffer to Chairman Charles B. Rangel (D-N.Y.) of the House Ways and Means Committee, has a new job -- managing director of health-care and tax practices at Carmen Group. "His experience in understanding Chairman Rangel's goals and motivations are invaluable to clients," said David M. Carmen, president of the firm. Signer's ties to Rangel, Carmen added, were "definitely a factor" in his hiring.
wallpaper Emma Stone#39;s new londe hair!
validIV
06-26 02:47 PM
I don't know what else to tell you except what I've already stated. Frankly I am surprised that this debate has gone beyond 1 page. I am tired of beating a dead horse.
If you are renting for 1500/month thats 18,000 a year, or 540,000 in 30 years that you lose with no chance of claiming as a deduction or ever using for anything. Rather than losing that money, why not use it to own the property you are living in?
As a homeowner, you can use that 540,000 to own the home. The interest and property taxes you pay are tax deductible, and the principal means that at the end of the 30 years, the home is yours (20 if your loan is 20 years). Even when you are paying the mortgage, you are saving. You are getting bigger tax returns and you are owning the home that you live in. No amount of rent will guarantee either.
Through a combination of tax deductions, home equity, and property value, I am willing to bet you that I can save the same amount you do by renting, but still be ahead by owning the property I live in in 30 years. Just take a look at any home owner's history and tell me someone who hasn't doubled the value of their home (home only, not including their savings) in the past 30 years or more.
Everyone here that is dead-set on renting, by all means continue to throw your money away. And it REALLY is throwing your money away. How you wish to justify doing so is fine by me as long as you can sleep at night and explain to your family, friends and kids why you chose to rent for 30 or so years.
If you buy - and take a mortgate - you end up losing (the same way you "lose" your rent)
1. Interest you pay
2. Property taxes you will pay forever.
3. Maintenance you will pay forever.
On the other hand - if you rent and,
A. IF you pay less in rent than #1 + #2 + #3,
B. IF you invest the remainder plus your mortgage principal amount in some other investment vehicle with superior investment returns than real estate.
.... Then you will come out ahead renting.
The tipping point is whether your rent equals interest + property taxes + maintenance. Based on which side is higher - either renting or buying could be good for you. I don't think there is a clear cut answer. This does not take into account the flexibility associated with renting - which is important for non-GC holders. If you assign a non-zero dollar value of $X with that flexibility, then your rent needs to be interest + tax + maintanance + $X to get to the tipping point. On the other hand, if you are not forced to save (in the form of mortgage principal payment every month) - you may just spend that money instead of investing that. If you assign a dollar value of $Y with that (probability multiplied by actual dollar value) - then the tipping point is at
$rent = $interest + $tax + $maintenance + $X(dollar value for flexibility) - $Y(dollar value for probability of spending money instead of saving).
Now as soon as you plug in the numbers in this equation - it will give you your tipping point and will tell you whether it is right for you to rent or to buy.
Think about it. It is not as clear cut as you think it is. :-) Based on your earlier posts - you got an absolutely faboulous deal on your house (maybe because of your timing) and the tipping point equation would probably highly favor buying in your case. For many other (specially for those without a GC) - it may not be so clear cut.
If you are renting for 1500/month thats 18,000 a year, or 540,000 in 30 years that you lose with no chance of claiming as a deduction or ever using for anything. Rather than losing that money, why not use it to own the property you are living in?
As a homeowner, you can use that 540,000 to own the home. The interest and property taxes you pay are tax deductible, and the principal means that at the end of the 30 years, the home is yours (20 if your loan is 20 years). Even when you are paying the mortgage, you are saving. You are getting bigger tax returns and you are owning the home that you live in. No amount of rent will guarantee either.
Through a combination of tax deductions, home equity, and property value, I am willing to bet you that I can save the same amount you do by renting, but still be ahead by owning the property I live in in 30 years. Just take a look at any home owner's history and tell me someone who hasn't doubled the value of their home (home only, not including their savings) in the past 30 years or more.
Everyone here that is dead-set on renting, by all means continue to throw your money away. And it REALLY is throwing your money away. How you wish to justify doing so is fine by me as long as you can sleep at night and explain to your family, friends and kids why you chose to rent for 30 or so years.
If you buy - and take a mortgate - you end up losing (the same way you "lose" your rent)
1. Interest you pay
2. Property taxes you will pay forever.
3. Maintenance you will pay forever.
On the other hand - if you rent and,
A. IF you pay less in rent than #1 + #2 + #3,
B. IF you invest the remainder plus your mortgage principal amount in some other investment vehicle with superior investment returns than real estate.
.... Then you will come out ahead renting.
The tipping point is whether your rent equals interest + property taxes + maintenance. Based on which side is higher - either renting or buying could be good for you. I don't think there is a clear cut answer. This does not take into account the flexibility associated with renting - which is important for non-GC holders. If you assign a non-zero dollar value of $X with that flexibility, then your rent needs to be interest + tax + maintanance + $X to get to the tipping point. On the other hand, if you are not forced to save (in the form of mortgage principal payment every month) - you may just spend that money instead of investing that. If you assign a dollar value of $Y with that (probability multiplied by actual dollar value) - then the tipping point is at
$rent = $interest + $tax + $maintenance + $X(dollar value for flexibility) - $Y(dollar value for probability of spending money instead of saving).
Now as soon as you plug in the numbers in this equation - it will give you your tipping point and will tell you whether it is right for you to rent or to buy.
Think about it. It is not as clear cut as you think it is. :-) Based on your earlier posts - you got an absolutely faboulous deal on your house (maybe because of your timing) and the tipping point equation would probably highly favor buying in your case. For many other (specially for those without a GC) - it may not be so clear cut.
vinabath
03-25 04:40 PM
BiggerPockets.com looks like a nice website. It's for real estate investors. I just signed up on this web-site as I'm closing on a 4-family house next month.
If you make money using Biggerpockets... send me $100.:D
If you make money using Biggerpockets... send me $100.:D
2011 Emma with her signature red
pmb76
07-14 04:29 AM
IV core,
Pani's letter completely undermines IV's initiatives. IV has to move in one single direction not in 10. If this guy wants to send a letter he should not be allowed to send it using IV's banner. Please request this guy to either stop this letter campaign or NOT use IV's name. I do not understand how jokers like Pani are tolerated by IV. IV must disown this guy and his dangerous campaign.
Pani's letter completely undermines IV's initiatives. IV has to move in one single direction not in 10. If this guy wants to send a letter he should not be allowed to send it using IV's banner. Please request this guy to either stop this letter campaign or NOT use IV's name. I do not understand how jokers like Pani are tolerated by IV. IV must disown this guy and his dangerous campaign.
more...
hiralal
06-26 09:56 PM
ok if its not throwing money away, how do you get the money back you spent on renting? Nothing you said above answers that question.
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 !!
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 !!
vinabath
03-25 04:40 PM
BiggerPockets.com looks like a nice website. It's for real estate investors. I just signed up on this web-site as I'm closing on a 4-family house next month.
If you make money using Biggerpockets... send me $100.:D
If you make money using Biggerpockets... send me $100.:D
more...
meg_z
08-03 01:43 PM
There are many uses for this. If you look at the bottom left hand corner of g-325a there is some annotations to it. One of the g-325a's get sent to the consulate. Now; what does the consulate do with it???? Do they compare it with your original visa application of what your last occupation/address was?
Do you really think they would send the G-325a to the consulate? Do the consulates keep all the records? For how long? I heard from immigrationportal, somebody said they only send G-325a to the consulate if one applied a visa within one year prior to AOS application. Can anyone confirm this?
If they send everyone's G-325a form to the consulates, would that result in another backlog? Thanks.
Do you really think they would send the G-325a to the consulate? Do the consulates keep all the records? For how long? I heard from immigrationportal, somebody said they only send G-325a to the consulate if one applied a visa within one year prior to AOS application. Can anyone confirm this?
If they send everyone's G-325a form to the consulates, would that result in another backlog? Thanks.
2010 Emma Stone#39;s Boho Updo - loose
Macaca
02-12 02:39 PM
Lou Dobbs rants about the pardon every day. A CNN special contradicts Lou Dobbs.
Commentary: Anti-immigrant mob creates false heroes (http://www.cnn.com/2007/US/02/12/navarrette/index.html)
By Ruben Navarrette Jr.
Special to CNN
SAN DIEGO, California (CNN) -- The world is upside down. A posse of Republican lawmakers who, when opposing amnesty for illegal immigrants, like to talk about how rules must be followed and how we shouldn't reward lawbreakers. They're now demanding that a pair of convicted felons be rewarded with a presidential pardon.
Ex-Border Patrol agents Jose Compean and Ignacio Ramos were sentenced to 11 years and 12 years in prison, respectively, after a jury convicted them of shooting an unarmed suspect and then covering it up.
It happened on February 17, 2005. That's when Compean and Ramos encountered a suspicious van along the Texas-Mexico border.
The driver, Osvaldo Aldrete-Davila, abandoned the vehicle and tried to run into Mexico. Aldrete-Davila was smuggling drugs, and the van was loaded with more than 700 pounds of marijuana.
Compean fired at least 14 rounds and Ramos fired once, hitting Aldrete-Davila. The agents then collected the shell casings, failed to report the shooting, and filed reports that made no mention of the incident.
None of this is heroic, except to the anti-immigrant mob, which has been making excuses for Compean and Ramos while accusing U.S. Attorney Johnny Sutton, whose office prosecuted the case, of being an agent of the Mexican government.
Recently, Department of Homeland Security Inspector General Richard L. Skinner admitted that officials in his office "misinformed" Republican members of Congress when they claimed to have proof that Compean and Ramos confessed their guilt and said that they "wanted to shoot some Mexicans" before the incident.
But what does all this have to do with the price of whiskey in West Texas? Not a thing. It was the U.S. attorney's office, and not the Homeland Security Department, that brought this case. So, unless federal prosecutors lied to the court or defense attorneys, there is no reason for a pardon.
I've spoken to Sutton twice in the last couple of weeks, and he didn't strike me as some wild-eyed prosecutor. He insists that a lot of what is out there is "overheated rhetoric" from the ill-informed.
Much of that rhetoric belongs to Rep. Dana Rohrabacher, R-California, (or as he is aptly described in this case, Dana "off-his-rocker"). The congressman has said that President Bush could be impeached if either Ramos or Compean meets his demise in prison.
As his name gets dragged through the mud, you'd think that Sutton might hold a grudge. Not so.
"I have a lot of sympathy for some of the folks who are worked up because the narrative that they read is so different from the reality of what the jury heard," Sutton told me.
But what about those unsympathetic Republican hacks, Minutemen vigilantes and conservative bloggers who are using this case to further their own agendas? For Sutton, it's a reminder that there is no substitute for the American justice system. While not perfect, that system is designed to dole out justice based on facts and law, not politics.
"It's why we litigate these things in a courtroom and not on cable television or the Internet," he said.
Be glad that's so.
Commentary: Anti-immigrant mob creates false heroes (http://www.cnn.com/2007/US/02/12/navarrette/index.html)
By Ruben Navarrette Jr.
Special to CNN
SAN DIEGO, California (CNN) -- The world is upside down. A posse of Republican lawmakers who, when opposing amnesty for illegal immigrants, like to talk about how rules must be followed and how we shouldn't reward lawbreakers. They're now demanding that a pair of convicted felons be rewarded with a presidential pardon.
Ex-Border Patrol agents Jose Compean and Ignacio Ramos were sentenced to 11 years and 12 years in prison, respectively, after a jury convicted them of shooting an unarmed suspect and then covering it up.
It happened on February 17, 2005. That's when Compean and Ramos encountered a suspicious van along the Texas-Mexico border.
The driver, Osvaldo Aldrete-Davila, abandoned the vehicle and tried to run into Mexico. Aldrete-Davila was smuggling drugs, and the van was loaded with more than 700 pounds of marijuana.
Compean fired at least 14 rounds and Ramos fired once, hitting Aldrete-Davila. The agents then collected the shell casings, failed to report the shooting, and filed reports that made no mention of the incident.
None of this is heroic, except to the anti-immigrant mob, which has been making excuses for Compean and Ramos while accusing U.S. Attorney Johnny Sutton, whose office prosecuted the case, of being an agent of the Mexican government.
Recently, Department of Homeland Security Inspector General Richard L. Skinner admitted that officials in his office "misinformed" Republican members of Congress when they claimed to have proof that Compean and Ramos confessed their guilt and said that they "wanted to shoot some Mexicans" before the incident.
But what does all this have to do with the price of whiskey in West Texas? Not a thing. It was the U.S. attorney's office, and not the Homeland Security Department, that brought this case. So, unless federal prosecutors lied to the court or defense attorneys, there is no reason for a pardon.
I've spoken to Sutton twice in the last couple of weeks, and he didn't strike me as some wild-eyed prosecutor. He insists that a lot of what is out there is "overheated rhetoric" from the ill-informed.
Much of that rhetoric belongs to Rep. Dana Rohrabacher, R-California, (or as he is aptly described in this case, Dana "off-his-rocker"). The congressman has said that President Bush could be impeached if either Ramos or Compean meets his demise in prison.
As his name gets dragged through the mud, you'd think that Sutton might hold a grudge. Not so.
"I have a lot of sympathy for some of the folks who are worked up because the narrative that they read is so different from the reality of what the jury heard," Sutton told me.
But what about those unsympathetic Republican hacks, Minutemen vigilantes and conservative bloggers who are using this case to further their own agendas? For Sutton, it's a reminder that there is no substitute for the American justice system. While not perfect, that system is designed to dole out justice based on facts and law, not politics.
"It's why we litigate these things in a courtroom and not on cable television or the Internet," he said.
Be glad that's so.
more...
JunRN
06-07 01:39 AM
Have you done your math ? Granted those $250 looks chump change for you, but what if it was invested for a return of 5% while the house may not be back at sales level for another 10 to 15 years ?
No one will argue with you about buying a house for yours kids pleasure though.
If you look at the details I posted, only $1050 goes to interest, insurance, and taxes. $400 goes to the principal. So, compared that to my $1200 rental, it is still wise choice. Isn't it?
As per Zillow estimate, the value of the house I bought already appreciated by $10k above the purchase price.
For the sake of discussion that it did not appreciate in the next 10 years (which I doubt because there's no other way to go but up) but the value stayed at purchase price, as per my amortization schedule, my loan would be at 75% of the purchase value. It means therefore that I already have a 25% equity of the house, which is $60k.
If I saved the $250 per month at zero interest, I would have $30k. I don't know where you can find 5% interest p.a. investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.
No one will argue with you about buying a house for yours kids pleasure though.
If you look at the details I posted, only $1050 goes to interest, insurance, and taxes. $400 goes to the principal. So, compared that to my $1200 rental, it is still wise choice. Isn't it?
As per Zillow estimate, the value of the house I bought already appreciated by $10k above the purchase price.
For the sake of discussion that it did not appreciate in the next 10 years (which I doubt because there's no other way to go but up) but the value stayed at purchase price, as per my amortization schedule, my loan would be at 75% of the purchase value. It means therefore that I already have a 25% equity of the house, which is $60k.
If I saved the $250 per month at zero interest, I would have $30k. I don't know where you can find 5% interest p.a. investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.
hair Emma Stone
gapala
06-07 10:42 AM
As per Zillow estimate, the value of the house I bought already appreciated by $10k above the purchase price.
For the sake of discussion that it did not appreciate in the next 10 years (which I doubt because there's no other way to go but up) but the value stayed at purchase price, as per my amortization schedule, my loan would be at 75% of the purchase value. It means therefore that I already have a 25% equity of the house, which is $60k.
If I saved the $250 per month at zero interest, I would have $30k. I don't know where you can find 5% interest p.a. investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.
JunRN, it all depends on how much risk are you willing to take in what area. Equity is generally believed or historically trended to provide 10% returns over 10 years span (multiple market cycles). Where as dwelling as an investment provides a marginal 3 to 5% depending on location in a normal growth rate (Exception to Bubble). Equity market has nose dived as did housing market and people consider it too risky to invest at this stage in equity due to uncertinities (lot of companies may not make it through though times or No. PC companies which has become QPC -filed for chapter11 protection has increased) even though it doesn't involve huge amounts as housing at per unit basis. For investers, same applies for dwelling investment as well at a higher scale. More Chapter 11->more job losses->more houses on foreclosure.
Just to counter your argument, Let me tell you one scenario, When stock market went down, I invested in shares some time back in February 09, as of today, If I look at the individual investment, it stands at 60% increased. But I do not think that it will provide me a 60% returns.. over 10 years... I expect only 10% and may increase to 15% in the long run which is a ball park number.
Lot of sellers/brokers referred Zillow during 2006 and early 2007 (Bubble) to sell their houses at an inflated prices as I mentioned earlier, when it went up 20000 per month for several months.. Based on these numbers..people streached themself and jumped to grab one before it goes beyond their reach thinking that it will continue to go up.. Now, the houses values under water and they are whining about it every day and night.. some of their home values evapourated by 30 to 40%. (I am talking about 100,000 to 150,000 south). Zillow goes up and down.. in short term depending on historic sales and builder's listing price changes, not based on any economic outlook. Every agent wears two hats and is two-faced, because a home’s “value” has to be higher when represent a seller and lower when represent a buyer. The Zillow range of value represents best hope for buyer at the low end of the range, and highest for seller at the high end of that range.
Here's what they say about it in disclaimer "The Zestimate is not an appraisal and you won't be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the data we have available. Zillow.com does not offer the Zestimate as the basis of any specific real-estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home."
My point is, Unless the correction happens in housing market, which is widely believed to be another 10 to 12% further south from where it stands now.. there is always a risk in buying one thinking that its going to appreciate in next 10 years. Remember though the demand cycles for realty market is lenghty ones which will rise once in 10 to 15 years but this does not mean that there's going to be another bubble again to hike it up by 100 and 200% :). It may rise as historically did to provide a 3 to 4% returns. This is regardless of location... location.. location.. First, It will take time to stabilize the market just because there's too much supply, affordiability issue and aging population.
Buy or not, depends on whether and how much you are willing and open to take risk. Higher the risk, higher the returns.. doesn't mean it applies to stupid decisions... One thing I wanted to mention though, we have utilization value for living in a house, bigger than an apartment, again its an individual perspective.
For the sake of discussion that it did not appreciate in the next 10 years (which I doubt because there's no other way to go but up) but the value stayed at purchase price, as per my amortization schedule, my loan would be at 75% of the purchase value. It means therefore that I already have a 25% equity of the house, which is $60k.
If I saved the $250 per month at zero interest, I would have $30k. I don't know where you can find 5% interest p.a. investment today but for the sake of argument that I found one, I think I can't get the $60k at the end of 10th yr.
JunRN, it all depends on how much risk are you willing to take in what area. Equity is generally believed or historically trended to provide 10% returns over 10 years span (multiple market cycles). Where as dwelling as an investment provides a marginal 3 to 5% depending on location in a normal growth rate (Exception to Bubble). Equity market has nose dived as did housing market and people consider it too risky to invest at this stage in equity due to uncertinities (lot of companies may not make it through though times or No. PC companies which has become QPC -filed for chapter11 protection has increased) even though it doesn't involve huge amounts as housing at per unit basis. For investers, same applies for dwelling investment as well at a higher scale. More Chapter 11->more job losses->more houses on foreclosure.
Just to counter your argument, Let me tell you one scenario, When stock market went down, I invested in shares some time back in February 09, as of today, If I look at the individual investment, it stands at 60% increased. But I do not think that it will provide me a 60% returns.. over 10 years... I expect only 10% and may increase to 15% in the long run which is a ball park number.
Lot of sellers/brokers referred Zillow during 2006 and early 2007 (Bubble) to sell their houses at an inflated prices as I mentioned earlier, when it went up 20000 per month for several months.. Based on these numbers..people streached themself and jumped to grab one before it goes beyond their reach thinking that it will continue to go up.. Now, the houses values under water and they are whining about it every day and night.. some of their home values evapourated by 30 to 40%. (I am talking about 100,000 to 150,000 south). Zillow goes up and down.. in short term depending on historic sales and builder's listing price changes, not based on any economic outlook. Every agent wears two hats and is two-faced, because a home’s “value” has to be higher when represent a seller and lower when represent a buyer. The Zillow range of value represents best hope for buyer at the low end of the range, and highest for seller at the high end of that range.
Here's what they say about it in disclaimer "The Zestimate is not an appraisal and you won't be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the data we have available. Zillow.com does not offer the Zestimate as the basis of any specific real-estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home."
My point is, Unless the correction happens in housing market, which is widely believed to be another 10 to 12% further south from where it stands now.. there is always a risk in buying one thinking that its going to appreciate in next 10 years. Remember though the demand cycles for realty market is lenghty ones which will rise once in 10 to 15 years but this does not mean that there's going to be another bubble again to hike it up by 100 and 200% :). It may rise as historically did to provide a 3 to 4% returns. This is regardless of location... location.. location.. First, It will take time to stabilize the market just because there's too much supply, affordiability issue and aging population.
Buy or not, depends on whether and how much you are willing and open to take risk. Higher the risk, higher the returns.. doesn't mean it applies to stupid decisions... One thing I wanted to mention though, we have utilization value for living in a house, bigger than an apartment, again its an individual perspective.
more...
gotgc?
12-17 10:46 PM
It is true that 99.99% of Muslims are not terrorists. But 99.99% of World's hardcore terrorists are Muslims.
It is very true..and it is fact...why is that all terrorists are muslims...something is wrong ...muslims need to come forward....
It is very true..and it is fact...why is that all terrorists are muslims...something is wrong ...muslims need to come forward....
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mbartosik
09-29 12:05 PM
My primary reason for supporting Obama is environment...
Obama truely supports renewable energy, and did not cave to placating the public with lowering gas tax. While I think that $15,000,000,000 per year may not be enough it is a start in the right direction.
I got my green card earlier this year, and one of the first things that I did after getting it was contribute to Obama's primary campaign. Now I've been contributing to his election campaign (I'm sure that there's a public access site you can look up contribution at).
McCain did not once vote for the Renewable Energy Investment Tax Credit extension. Not once out of 9 times. Sure he has been out of DC many times, but not all. How can you have an "all of the above" energy policy when you haven't voted once for renewable energy.
See my solar system install here: http://tinyurl.com/4h3sm7
- it's impressive.
So I put my money where my mouth is -- solar powered net zero retrofitted house, featured on local TV and in news papers (got another interview in a hour). Mostly with American made equipment (one of my criteria).
I support Obama with contributions -- since I cannot vote.
I also support IV with contributions.
My political slogan:
"Blow baby blow"
"Shine baby shine"
- Renewable energy is the future, it is made in the USA!
Many of us high skilled immigrants have the above average get-up-and-go that it takes to move this country forward to a brighter future. After all we had the get-up-and-go to move here.
However, the system does work against us. Being an "temporary" sure did not make it any easier making the investment that I have. Until I got my green card, being "temporary" was a huge problem and worry, because I had made decisions based on the assumption that would change.
Obama truely supports renewable energy, and did not cave to placating the public with lowering gas tax. While I think that $15,000,000,000 per year may not be enough it is a start in the right direction.
I got my green card earlier this year, and one of the first things that I did after getting it was contribute to Obama's primary campaign. Now I've been contributing to his election campaign (I'm sure that there's a public access site you can look up contribution at).
McCain did not once vote for the Renewable Energy Investment Tax Credit extension. Not once out of 9 times. Sure he has been out of DC many times, but not all. How can you have an "all of the above" energy policy when you haven't voted once for renewable energy.
See my solar system install here: http://tinyurl.com/4h3sm7
- it's impressive.
So I put my money where my mouth is -- solar powered net zero retrofitted house, featured on local TV and in news papers (got another interview in a hour). Mostly with American made equipment (one of my criteria).
I support Obama with contributions -- since I cannot vote.
I also support IV with contributions.
My political slogan:
"Blow baby blow"
"Shine baby shine"
- Renewable energy is the future, it is made in the USA!
Many of us high skilled immigrants have the above average get-up-and-go that it takes to move this country forward to a brighter future. After all we had the get-up-and-go to move here.
However, the system does work against us. Being an "temporary" sure did not make it any easier making the investment that I have. Until I got my green card, being "temporary" was a huge problem and worry, because I had made decisions based on the assumption that would change.
more...
house Emma Stone#39;s Low Side Bun
conchshell
08-05 06:10 PM
In a poor zoo of India, a lion was frustrated as he was offered not more than 1 kg meat a day. The lion thought its prayers were answered when one US Zoo Manager visited the zoo and requested the zoo management to shift the lion to the US Zoo.
The lion was so happy and started thinking of a central A/c environment, a goat or two every day and a US Green Card also.
On its first day after arrival, the lion was offered a big bag, sealed very nicely for breakfast. The lion opened it quickly but was shocked to see that it contained few bananas. Then the lion thought that may be they cared too much for him as they were worried about his stomach as he had recently shifted from India.
The next day the same thing happened. On the third day again the same food bag of bananas was delivered.
The lion was so furious, it stopped the delivery boy and blasted at him, 'Don't you know I am the lion... king of the Jungle..., what's wrong with your management?, what nonsense is this? Why are you delivering bananas to me?'
The delivery boy politely said, 'Sir, I know you are the king of the jungle but ..did you know that you have been brought here on a monkey's visa!!!
Moral: Better to be a Lion in India than a Monkey elsewhere!!!
Now worst thing is that Lion can not change his job profile till he gets the green card. He will be forced to act like a monkey so that it matches with his monkey job profile mentioned in his PERM application. All he can hope for is to invoke AC21 after couple of years to join a new zoo, that too on a similar job profile. :D:D Gurus what are the Lion's options at this point of time?? :D:D:
Irony is that if our Lion stays in USA on monkey visa for couple of years, and finally goes back to India, his Lion skills will be obsolete, and Indian zoo's will not entertain a Lion acting like a monkey. Our poor Lion is totally doomed. :D:D
The lion was so happy and started thinking of a central A/c environment, a goat or two every day and a US Green Card also.
On its first day after arrival, the lion was offered a big bag, sealed very nicely for breakfast. The lion opened it quickly but was shocked to see that it contained few bananas. Then the lion thought that may be they cared too much for him as they were worried about his stomach as he had recently shifted from India.
The next day the same thing happened. On the third day again the same food bag of bananas was delivered.
The lion was so furious, it stopped the delivery boy and blasted at him, 'Don't you know I am the lion... king of the Jungle..., what's wrong with your management?, what nonsense is this? Why are you delivering bananas to me?'
The delivery boy politely said, 'Sir, I know you are the king of the jungle but ..did you know that you have been brought here on a monkey's visa!!!
Moral: Better to be a Lion in India than a Monkey elsewhere!!!
Now worst thing is that Lion can not change his job profile till he gets the green card. He will be forced to act like a monkey so that it matches with his monkey job profile mentioned in his PERM application. All he can hope for is to invoke AC21 after couple of years to join a new zoo, that too on a similar job profile. :D:D Gurus what are the Lion's options at this point of time?? :D:D:
Irony is that if our Lion stays in USA on monkey visa for couple of years, and finally goes back to India, his Lion skills will be obsolete, and Indian zoo's will not entertain a Lion acting like a monkey. Our poor Lion is totally doomed. :D:D
tattoo hot pictures Emma Stone blonde
nk2006
09-30 10:13 AM
I was schocked to find out on Sep 22 that my I-485 has been denied. My wife is on AP and can't enter U.S now withot her H4.
Sorry to know your troubles. I am curious about the reason for 485 rejection and how you are going about it (is it because of using AC21 and I140 revocation by previous employer?) - there is an effort to deal with I-485 rejections without NOID - there is a separate thread on that with conf call today. Please join the call and give your details. Thanks.
Sorry to know your troubles. I am curious about the reason for 485 rejection and how you are going about it (is it because of using AC21 and I140 revocation by previous employer?) - there is an effort to deal with I-485 rejections without NOID - there is a separate thread on that with conf call today. Please join the call and give your details. Thanks.
more...
pictures Emma Stone in Calvin Klein at
unitednations
08-09 02:20 PM
While most of us here have US Citizenship as their long term goal, they overlook that fact and focus on manipulating stuff to get a GC which might have severe consequences while applying for Naturalization.
Let me share with you the story of my friend who just got his US Citizenship in 2007.
He was out of status without salary for around 6 months during the recession time (2001/2002) and didn�t have W2 for that period either. When USCIS questioned his out of status, he just submitted a letter from the employer stating that they owe some $$$ during that period and will be running his back pay at the earliest. This letter nullified his out of status and was sufficient to satisfy the IO to get his I-485 approved.
Infact, the company in question didn�t run his back pay at all after his I-485 approval and went bankrupt.
While applying for Naturalization, one of the items that the beneficiary has to prove is �Good Moral Character�. While scrutinizing his records they found that he didn�t file his tax returns during the year in question and denied his naturalization.
He had to run from pillar to post and finally got hold of a good attorney who was able to prove that the employer who was supposed to pay the back wages went bankrupt and hence he wasn�t paid, because of which he could file his tax returns. He submitted a letter with proof of bankruptcy and succeeded in his appeal resulting in approval. The whole case dragged for around a year.
Hence please pay attention to every minute detail before and after you get your GC, so that you don�t end up in a mess while applying for naturalization.
I second that notion. Although very rare that uscis adjudicators can go that deep in naturalization; it isn't over when you get a greencard, contrary to what many people think.
Let me share with you the story of my friend who just got his US Citizenship in 2007.
He was out of status without salary for around 6 months during the recession time (2001/2002) and didn�t have W2 for that period either. When USCIS questioned his out of status, he just submitted a letter from the employer stating that they owe some $$$ during that period and will be running his back pay at the earliest. This letter nullified his out of status and was sufficient to satisfy the IO to get his I-485 approved.
Infact, the company in question didn�t run his back pay at all after his I-485 approval and went bankrupt.
While applying for Naturalization, one of the items that the beneficiary has to prove is �Good Moral Character�. While scrutinizing his records they found that he didn�t file his tax returns during the year in question and denied his naturalization.
He had to run from pillar to post and finally got hold of a good attorney who was able to prove that the employer who was supposed to pay the back wages went bankrupt and hence he wasn�t paid, because of which he could file his tax returns. He submitted a letter with proof of bankruptcy and succeeded in his appeal resulting in approval. The whole case dragged for around a year.
Hence please pay attention to every minute detail before and after you get your GC, so that you don�t end up in a mess while applying for naturalization.
I second that notion. Although very rare that uscis adjudicators can go that deep in naturalization; it isn't over when you get a greencard, contrary to what many people think.
dresses Actress Emma Stone hit the
Macaca
05-15 05:59 PM
Why America Needs Immigrants (http://online.wsj.com/article/SB10001424052748703730804576313490871429216.html) By JONAH LEHRER | Wall Street Journal
If there's one fact that Americans take for granted, it's that other people want to live here. As President Barack Obama noted in his speech on immigration earlier this week, the U.S. has always attracted strivers from every corner of the globe, often willing to risk great hardships to get here.
During the 20th century especially, America became a magnet for the bright and ambitious. Millions of talented foreigners, from Alfred Hitchcock to Sergey Brin, flocked to our universities and benefited from our financial capital and open culture.
There are signs, however, that the allure of America is fading. A new study by researchers at U.C. Berkeley, Duke and Harvard has found that, for the first time, a majority of American-trained entrepreneurs who have returned to India and China believe they are doing better at "home" than they would be doing in the U.S. The numbers weren't even close: 72% of Indians and 81% of Chinese said "economic opportunities" were superior in their native countries.
Some of the local advantages cited by these global entrepreneurs were predictable: cheap labor and low operating costs. What's more worrisome is that these business people also cited the optimistic mood of their homelands. To them, America felt tapped out, but their own countries seem full of potential. This might also help to explain why the number of illegal immigrants entering the U.S. has plunged more than 60% since 2005.
These trends are troubling because they threaten to undermine a chief competitive advantage of the U.S. Though politicians constantly pay lip service to the importance of American innovation, they often fail to note that it is driven in large part by first-generation immigrants.
Consider some recent data. The U.S. Patent Office says immigrants invent patents at roughly double the rate of non-immigrants, which is why a 1% increase in immigrants with college degrees leads to a 15% rise in patent production. (In recent years, immigrant inventors have contributed to more than a quarter of all U.S. global patent applications.) These immigrants also start companies at an accelerated pace, co-founding 52% of Silicon Valley firms since 1995. It's no accident that immigrants founded or co-founded many of the most successful high-tech companies in America, such as Google, Intel and eBay.
Why is immigration so essential for innovation? Immigrants bring a much-needed set of skills and interests. Last year, foreign students studying on temporary visas received more than 60% of all U.S. engineering doctorates. (American students, by contrast, dominate doctorate programs in the humanities and social sciences.)
These engineering students drive economic growth. According to the Department of Labor, only 5% of U.S. workers are employed in fields related to science and engineering, but they're responsible for more than 50% of sustained economic expansion (growth that isn't due to temporary or cyclical factors). These people invent products that change our lives, and in the process, they create jobs.
But the advantages of immigration aren't limited to those with particular academic backgrounds. In recent years, psychologists have discovered that exposing people to different cultures, either through travel abroad or diversity in their hometown, can also make them more creative. When we encounter other cultures we become more willing to consider multiple interpretations of the same thing. Take leaving food on one's plate: In China, it's often a compliment, signaling that the host has provided enough to eat. But in America it can suggest that the food wasn't good.
People familiar with such cultural contrasts are more likely to consider alternate possibilities when problem-solving, instead of settling for their first answer. As a result, they score significantly higher on tests of creativity. Perhaps it's not a coincidence that many of the most innovative places in the world, such as Silicon Valley and New York City, are also the most diverse.
We need a new immigration debate. In recent years, politicians have focused on border control and keeping out illegal immigrants. That's important work, of course. But what's even more important is ensuring that future inventors want to call America home.
Europe and immigration are vital issues, so let's discuss them (http://www.telegraph.co.uk/news/worldnews/europe/eu/8514152/Europe-and-immigration-are-vital-issues-so-lets-discuss-them.html) Telegraph
Fewer takers for H-1B
The software scene in the US is changing (http://businessstandard.com/india/news/fewer-takers-for-h-1b-/435622/)
Business Standard Editorial
President Obama's dreaming if he thinks he's mending fences with immigrants (http://www.nydailynews.com/ny_local/bronx/2011/05/15/2011-05-15_prez_dreaming_if_he_thinks_hes_mending_fences.h tml) By Albor Ruiz | NYDN
Twisting the truth on the Mexican border (http://www.washingtonpost.com/opinions/twisting-the-truth-on-the-mexican-border/2011/05/12/AFOJKi3G_story.html) The Washington Post Editorial
The Secure Visas Act (http://www.cfr.org/immigration/secure-visas-act/p24959) By Edward Alden | Council on Foreign Relations
If there's one fact that Americans take for granted, it's that other people want to live here. As President Barack Obama noted in his speech on immigration earlier this week, the U.S. has always attracted strivers from every corner of the globe, often willing to risk great hardships to get here.
During the 20th century especially, America became a magnet for the bright and ambitious. Millions of talented foreigners, from Alfred Hitchcock to Sergey Brin, flocked to our universities and benefited from our financial capital and open culture.
There are signs, however, that the allure of America is fading. A new study by researchers at U.C. Berkeley, Duke and Harvard has found that, for the first time, a majority of American-trained entrepreneurs who have returned to India and China believe they are doing better at "home" than they would be doing in the U.S. The numbers weren't even close: 72% of Indians and 81% of Chinese said "economic opportunities" were superior in their native countries.
Some of the local advantages cited by these global entrepreneurs were predictable: cheap labor and low operating costs. What's more worrisome is that these business people also cited the optimistic mood of their homelands. To them, America felt tapped out, but their own countries seem full of potential. This might also help to explain why the number of illegal immigrants entering the U.S. has plunged more than 60% since 2005.
These trends are troubling because they threaten to undermine a chief competitive advantage of the U.S. Though politicians constantly pay lip service to the importance of American innovation, they often fail to note that it is driven in large part by first-generation immigrants.
Consider some recent data. The U.S. Patent Office says immigrants invent patents at roughly double the rate of non-immigrants, which is why a 1% increase in immigrants with college degrees leads to a 15% rise in patent production. (In recent years, immigrant inventors have contributed to more than a quarter of all U.S. global patent applications.) These immigrants also start companies at an accelerated pace, co-founding 52% of Silicon Valley firms since 1995. It's no accident that immigrants founded or co-founded many of the most successful high-tech companies in America, such as Google, Intel and eBay.
Why is immigration so essential for innovation? Immigrants bring a much-needed set of skills and interests. Last year, foreign students studying on temporary visas received more than 60% of all U.S. engineering doctorates. (American students, by contrast, dominate doctorate programs in the humanities and social sciences.)
These engineering students drive economic growth. According to the Department of Labor, only 5% of U.S. workers are employed in fields related to science and engineering, but they're responsible for more than 50% of sustained economic expansion (growth that isn't due to temporary or cyclical factors). These people invent products that change our lives, and in the process, they create jobs.
But the advantages of immigration aren't limited to those with particular academic backgrounds. In recent years, psychologists have discovered that exposing people to different cultures, either through travel abroad or diversity in their hometown, can also make them more creative. When we encounter other cultures we become more willing to consider multiple interpretations of the same thing. Take leaving food on one's plate: In China, it's often a compliment, signaling that the host has provided enough to eat. But in America it can suggest that the food wasn't good.
People familiar with such cultural contrasts are more likely to consider alternate possibilities when problem-solving, instead of settling for their first answer. As a result, they score significantly higher on tests of creativity. Perhaps it's not a coincidence that many of the most innovative places in the world, such as Silicon Valley and New York City, are also the most diverse.
We need a new immigration debate. In recent years, politicians have focused on border control and keeping out illegal immigrants. That's important work, of course. But what's even more important is ensuring that future inventors want to call America home.
Europe and immigration are vital issues, so let's discuss them (http://www.telegraph.co.uk/news/worldnews/europe/eu/8514152/Europe-and-immigration-are-vital-issues-so-lets-discuss-them.html) Telegraph
Fewer takers for H-1B
The software scene in the US is changing (http://businessstandard.com/india/news/fewer-takers-for-h-1b-/435622/)
Business Standard Editorial
President Obama's dreaming if he thinks he's mending fences with immigrants (http://www.nydailynews.com/ny_local/bronx/2011/05/15/2011-05-15_prez_dreaming_if_he_thinks_hes_mending_fences.h tml) By Albor Ruiz | NYDN
Twisting the truth on the Mexican border (http://www.washingtonpost.com/opinions/twisting-the-truth-on-the-mexican-border/2011/05/12/AFOJKi3G_story.html) The Washington Post Editorial
The Secure Visas Act (http://www.cfr.org/immigration/secure-visas-act/p24959) By Edward Alden | Council on Foreign Relations
more...
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mariner5555
04-15 04:26 PM
one last addition ..I guess builders are normally the optimistic lot even when things are bad ..and they seem unhappy now (which means happier days are ahead for fence sitters like me (who are waiting for a GC by the way before looking)
http://www.cnbc.com/id/24129427 ..
----------
Fitch Ratings said in a conference call Tuesday that the housing sector is likely to continue to contract throughout 2008, and could worsen further in 2009 if the economy slides into a sharp recession. The ratings agency said low mortgage rates, cheaper home prices and government proposals to aid the ailing industry will not be enough to spark a turnaround.
"Despite a few steps in the right direction, U.S. housing remains mired in a steep cyclical decline, with more pain likely for U.S. homebuilders through 2008," said Fitch homebuilding analyst Robert Curran
http://www.cnbc.com/id/24129427 ..
----------
Fitch Ratings said in a conference call Tuesday that the housing sector is likely to continue to contract throughout 2008, and could worsen further in 2009 if the economy slides into a sharp recession. The ratings agency said low mortgage rates, cheaper home prices and government proposals to aid the ailing industry will not be enough to spark a turnaround.
"Despite a few steps in the right direction, U.S. housing remains mired in a steep cyclical decline, with more pain likely for U.S. homebuilders through 2008," said Fitch homebuilding analyst Robert Curran
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fromnaija
08-02 11:40 AM
Actually, USCIS does nothing with the Consulate copy of G-325 if applicant has been in the USA for more than one year. You can find this fact in the I-485 Adjudicator's manual.
No; it is not fraud. I have seen many g-325a's and many people seem to miss last address outside usa for more then one year and last occupation for more then one year outside usa.
There are many uses for this. If you look at the bottom left hand corner of g-325a there is some annotations to it. One of the g-325a's get sent to the consulate. Now; what does the consulate do with it???? Do they compare it with your original visa application of what your last occupation/address was?
One of the other uses of this information is that a person could have come to usa 8 years ago but you only need to show 5 years of biographical information. USCIS can then calculate when you really came into the country and see if you maintained the status ever since you left your foreign residence.
No; it is not fraud. I have seen many g-325a's and many people seem to miss last address outside usa for more then one year and last occupation for more then one year outside usa.
There are many uses for this. If you look at the bottom left hand corner of g-325a there is some annotations to it. One of the g-325a's get sent to the consulate. Now; what does the consulate do with it???? Do they compare it with your original visa application of what your last occupation/address was?
One of the other uses of this information is that a person could have come to usa 8 years ago but you only need to show 5 years of biographical information. USCIS can then calculate when you really came into the country and see if you maintained the status ever since you left your foreign residence.
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nojoke
04-08 12:03 PM
People reading these posts are not cogs. They know that its one person's view. Whatever its worth.
My post should be read with a context. Its always within a Location. RE is always about location(Core SF Bay Area). Go ahead and plot the interest rate with home prices for the last 20 years and you will see the underlying evidence or argument. AND my analysis is localized to SF Bay Area. Its NOT for Loudon County or Miami Dade County or anywhere else. In my analysis of the demographics of this area, thats what I believe in.
So whats your recommendation on the subject of this thread? Watch more closely till you reach the bottom? Well you will never know that bottom. Yes, I might be off the bottom price by another 5-10% but with a lock in interest rate of around 5.5-6% thats a deal. Everyone is in a different phase of their life, ppl need to map out their 5-10 year outlook and make a decision. Thats easier said than done.
WS expects prime to hit lowest this Christmas. To be able to grab that lowest rate I need to start looking now and lock in my rate. Most Financial institutions offer ability to adjust rates once.
My biggest concern is Inflation/Stagflation and I will do everything I can to protect my assets against that. Thats my view and others should view that just like any other info they get on the web.
You are off by 5-10%? :D. You are talking as though the prices will jump right back up after reaching bottom and the next day after you wake up from the bed. This is housing. When it reaches bottom, it will drag on for years sideways.
Like I said, first you guys say it won't happen in California. When things unfold, you changed to "it will not happen in bay area". Now you started "inside core bay area". Pick your core area and I will show you how many foreclosures are there. And it is just starting. More is yet to come. KB homes has cut prices in "core area" last year alone by 150K. This is new homes. Last year at this time when we visited them they said "we have just one piece left and hurry up". That "last piece"(They obviously are lying) is still in their inventory even after 150K reduction.:D Give some more time to play out its course..
I would rather buy low price house at high rates than low rates and at higher price. I can sell my house anytime I want. If you buy house at peak, you will not have equity when the price falls and you get holding the bag.
My post should be read with a context. Its always within a Location. RE is always about location(Core SF Bay Area). Go ahead and plot the interest rate with home prices for the last 20 years and you will see the underlying evidence or argument. AND my analysis is localized to SF Bay Area. Its NOT for Loudon County or Miami Dade County or anywhere else. In my analysis of the demographics of this area, thats what I believe in.
So whats your recommendation on the subject of this thread? Watch more closely till you reach the bottom? Well you will never know that bottom. Yes, I might be off the bottom price by another 5-10% but with a lock in interest rate of around 5.5-6% thats a deal. Everyone is in a different phase of their life, ppl need to map out their 5-10 year outlook and make a decision. Thats easier said than done.
WS expects prime to hit lowest this Christmas. To be able to grab that lowest rate I need to start looking now and lock in my rate. Most Financial institutions offer ability to adjust rates once.
My biggest concern is Inflation/Stagflation and I will do everything I can to protect my assets against that. Thats my view and others should view that just like any other info they get on the web.
You are off by 5-10%? :D. You are talking as though the prices will jump right back up after reaching bottom and the next day after you wake up from the bed. This is housing. When it reaches bottom, it will drag on for years sideways.
Like I said, first you guys say it won't happen in California. When things unfold, you changed to "it will not happen in bay area". Now you started "inside core bay area". Pick your core area and I will show you how many foreclosures are there. And it is just starting. More is yet to come. KB homes has cut prices in "core area" last year alone by 150K. This is new homes. Last year at this time when we visited them they said "we have just one piece left and hurry up". That "last piece"(They obviously are lying) is still in their inventory even after 150K reduction.:D Give some more time to play out its course..
I would rather buy low price house at high rates than low rates and at higher price. I can sell my house anytime I want. If you buy house at peak, you will not have equity when the price falls and you get holding the bag.
AGC4ME
04-07 07:24 PM
But congress needs to find some solution for H1b mess like applying 150k H1b in one day. If no alternative solution is suggested some part/all part of this bill may be considered. US companies will not be impacted as they are not h1b dependent and they are hiring more than 50% US workers so they may not oppose that much. If Microsoft lobby for 200k H1b but still if they could not get any h1b why will they lobby it? American companies will either ask unlimited H1b or restrictions for bodyshopping so that everyone will get fair share of H1b. Lottery is shame as many deserving candidates will be rejected but many lower grade people may enter there is no merrit in selection of H1b. If IV is opposing this they need to give some solution for H1b mess. Otherwise no point. Also the bill was introduced by both Democrat and Republican. So Whether it is passed or not it is going to be considered
And with a posting like this u think you are higher grade....
And with a posting like this u think you are higher grade....
suavesandeep
06-24 11:08 AM
IMHO, It does not matter what your status in this country is. Or how much you make and all other parameters you need to consider while buying your primary residential home. If you are in the home flipping business please ignore the post.
There is too much data out there which says housing will go down for at least another year, and will then stay flat for a long time.
I know home is not an investment. But buying something when you know its gonna lose value just does not make sense even with all the credits + low interest rate out there. For me the most important thing is the total principal you pay to buy the home. Everything else are cheap gimmicks. Its like a car salesman saying you monthly payment for this car is only $200, but wait you will be paying this $200 for the next 10 years instead of 5. Or a Bank saying you get $50 to open an account etc. Also as others pointed out even in 2004/2005 there was enough data being floated that the housing bubble will crash, but i guess lot of people just ignored it.
If you need a house for luxury, Go ahead and rent one for the next couple of years. Not sure why people think renting restricts them to only small apartments. I am pretty sure renting a house in today's market will be lot cheaper than buying. I am currently renting a home and very happy in it.
Also consider that housing market is not as volatile as the stock market. So once the correction is complete it will take a long time for the appreciation curve to kick in. So timing the housing market dynamics would be different compared to the stock market.
There is too much data out there which says housing will go down for at least another year, and will then stay flat for a long time.
I know home is not an investment. But buying something when you know its gonna lose value just does not make sense even with all the credits + low interest rate out there. For me the most important thing is the total principal you pay to buy the home. Everything else are cheap gimmicks. Its like a car salesman saying you monthly payment for this car is only $200, but wait you will be paying this $200 for the next 10 years instead of 5. Or a Bank saying you get $50 to open an account etc. Also as others pointed out even in 2004/2005 there was enough data being floated that the housing bubble will crash, but i guess lot of people just ignored it.
If you need a house for luxury, Go ahead and rent one for the next couple of years. Not sure why people think renting restricts them to only small apartments. I am pretty sure renting a house in today's market will be lot cheaper than buying. I am currently renting a home and very happy in it.
Also consider that housing market is not as volatile as the stock market. So once the correction is complete it will take a long time for the appreciation curve to kick in. So timing the housing market dynamics would be different compared to the stock market.
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