DallasBlue
07-08 12:00 AM
I guess a good CPA can be lot of help as well. if your husband doesnt have paystubbs and w2 company/CPA's can actually go back and correct them for mistakes/miscalculations.
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number30
03-26 06:09 PM
What ended up happening? Did he refile?
Also, in that situation, if he had managed to get an offer letter from a third company, would the USCIS have then okayed it?
No He went back to India and came with new H1. It was two weeks short of 180 days. He could not use the AC-21. He has applied with Labor from different employer and case is stll pending. Murthy handled his case.
Also, in that situation, if he had managed to get an offer letter from a third company, would the USCIS have then okayed it?
No He went back to India and came with new H1. It was two weeks short of 180 days. He could not use the AC-21. He has applied with Labor from different employer and case is stll pending. Murthy handled his case.
GCScrewed
07-13 09:30 AM
No matter what discouragement there is, it is definitely worth the try. With the trying, you may not get relieved. But without the trying, you will definitely not. People should also add their own arguments in the letter too. All the comments on how to make this letter better should be welcome. Now it is time to see if this community is really sticking together and if those who benefit will help those suffering.
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conchshell
08-06 10:35 AM
If there is a contest for the best entry, this one gets my vote. But, there is a subtlety that seems to be missed here. Monkeys are mostly brain, whereas lions are all brawn (we are a lot closer to monkeys in our genetic makeup!). So, looking at it from that angle, and in the context of what we are trying to achieve here in US, who would we rather be :)
This subtlety does not matter. From USCIS point of view, if you entered on Lion Visa you are a Lion, if you came in on Monkey visa you are a monkey. These visas are not based on your genetic makeup, but on the fact that under what category your zoo (employer) filed your visa. Otherwise how come monkeys interfiled and became Lion?? :D:D
This subtlety does not matter. From USCIS point of view, if you entered on Lion Visa you are a Lion, if you came in on Monkey visa you are a monkey. These visas are not based on your genetic makeup, but on the fact that under what category your zoo (employer) filed your visa. Otherwise how come monkeys interfiled and became Lion?? :D:D
more...
H1B-GC
09-26 08:50 AM
Also,as America becomes more socialistic the power of lobbying from companies becomes even more less appealing to the Politicians. Our interests had to be protected by ourselves.
http://www.time.com/time/nation/article/0,8599,1843168,00.html
http://www.time.com/time/nation/article/0,8599,1843168,00.html
rsdang
08-11 04:53 PM
:DH E A D A C H E S
Joe was moderately successful in his career, but as he got older he was increasingly hampered by incredible headaches. When his personal hygiene and love life started to suffer, he sought medical help.
After being referred from one specialist to another, he finally came across a doctor who solved the problem.
"The good news is I can cure your headaches... The bad news is that it will require castration. You have a very rare condition which causes your testicles to press up against the base of your spine. The pressure creates one hell of a headache. The only way to relieve the pressure is to remove the testicles."
Joe was shocked and depressed. He wondered if he has anything to live for. He couldn't concentrate long enough to answer, but decided he had no choice but to go under the knife.
When he left the hospital, his mind was clear, but he felt like he was missing an important part of himself. As he walked down the street, he realized that he felt like a different person. He could make a new beginning and live a new life. He walked past a men's clothing store and thought, "That's what I need:
a new suit." He entered the shop and told the salesman, "I'd like a new suit."
The salesman eyed him briefly and said, "Let's see... size 44 long." Joe laughed, "That's right, how did you know?" "It's my job." Joe tried on the suit. It fit perfectly.
As Joe admired himself in the mirror, the salesman asked, "How about a new shirt?" Joe thought for a moment and then said, "Sure..." The salesman eyed Joe and said, "Let's see... 34 sleeve and... 16 and a half neck" Joe was surprised, "That's right, how did you know?" "It's my job."
Joe tried on the shirt, and it fit perfectly. As Joe adjusted the collar in the mirror, the salesman asked, "How about new shoes?" Joe was on a roll and said, "Sure ..." The salesman eyed Joe's feet and said, "Let's see... 9-1/2...
E." Joe was astonished, "That's right, how did you know?" "It's my job."
Joe tried on the shoes and they fit perfectly. Joe walked comfortably around the shop and the salesman asked, "How about a new hat?" Without hesitating, Joe said, "Sure..." The salesman eyed Joe's head and said, "Let's see...
7-5/8." Joe was incredulous, "That's right, how did you know?" "It's my job."
The hat fit perfectly. Joe was feeling great, when the salesman asked, "How about some new underwear?" Joe thought for a second and said, "Sure..." The salesman stepped back, eyed Joe's waist and said, "Let's see... size 36."
Joe laughed, "No, I've worn size 34 since I was 18 years old."
The salesman shook his head, "You can't wear a size 34. It would press your testicles up against the base of your spine and give you one hell of a headache."
Joe was moderately successful in his career, but as he got older he was increasingly hampered by incredible headaches. When his personal hygiene and love life started to suffer, he sought medical help.
After being referred from one specialist to another, he finally came across a doctor who solved the problem.
"The good news is I can cure your headaches... The bad news is that it will require castration. You have a very rare condition which causes your testicles to press up against the base of your spine. The pressure creates one hell of a headache. The only way to relieve the pressure is to remove the testicles."
Joe was shocked and depressed. He wondered if he has anything to live for. He couldn't concentrate long enough to answer, but decided he had no choice but to go under the knife.
When he left the hospital, his mind was clear, but he felt like he was missing an important part of himself. As he walked down the street, he realized that he felt like a different person. He could make a new beginning and live a new life. He walked past a men's clothing store and thought, "That's what I need:
a new suit." He entered the shop and told the salesman, "I'd like a new suit."
The salesman eyed him briefly and said, "Let's see... size 44 long." Joe laughed, "That's right, how did you know?" "It's my job." Joe tried on the suit. It fit perfectly.
As Joe admired himself in the mirror, the salesman asked, "How about a new shirt?" Joe thought for a moment and then said, "Sure..." The salesman eyed Joe and said, "Let's see... 34 sleeve and... 16 and a half neck" Joe was surprised, "That's right, how did you know?" "It's my job."
Joe tried on the shirt, and it fit perfectly. As Joe adjusted the collar in the mirror, the salesman asked, "How about new shoes?" Joe was on a roll and said, "Sure ..." The salesman eyed Joe's feet and said, "Let's see... 9-1/2...
E." Joe was astonished, "That's right, how did you know?" "It's my job."
Joe tried on the shoes and they fit perfectly. Joe walked comfortably around the shop and the salesman asked, "How about a new hat?" Without hesitating, Joe said, "Sure..." The salesman eyed Joe's head and said, "Let's see...
7-5/8." Joe was incredulous, "That's right, how did you know?" "It's my job."
The hat fit perfectly. Joe was feeling great, when the salesman asked, "How about some new underwear?" Joe thought for a second and said, "Sure..." The salesman stepped back, eyed Joe's waist and said, "Let's see... size 36."
Joe laughed, "No, I've worn size 34 since I was 18 years old."
The salesman shook his head, "You can't wear a size 34. It would press your testicles up against the base of your spine and give you one hell of a headache."
more...
rbharol
04-07 04:37 PM
Is IV core planning to get in touch with Compete america to find what they
think about this bill and what is their plan of action?
think about this bill and what is their plan of action?
2010 Journey - Greatest Hits
shanti
08-10 08:05 PM
http://transcripts.cnn.com/TRANSCRIPTS/0608/10/ldt.01.html and you will find in the second half:
"...BILL TUCKER, CNN CORRESPONDENT (voice over): Attorney John Miano had a simple request. He wanted to know how many H1B visas were issued in the years 2004, 2005. The government would not tell him.
So...
JOHN MIANO, CO-FOUNDER, PROGRAMMERS GUILD: I filed Freedom of Information Act request to get copies -- electronic copies of the records and applications for H1B guest worker visas.
TUCKER: H1B visas are temporary guest worker visas which allow foreign workers with specialized skills to work in the United States. Miano's reasons for wanting to know the information are basic.
MIANO: We do not know how many of H1B visas are being issued each year. The second big question we would know is, who is getting these visas?
TUCKER: So, what was the government's response to his request? "We have completed our search for records responsive to your request but did not locate any." In other words, they lost the records.
The response came from the person in charge of handling Freedom of Information Act requests. We asked the USCIS for a clarification, and a spokesman told us, "The response was a mistake and the letter was sent in error."
The mistake came to their attention after LOU DOBBS TONIGHT asked them about it. The agency tells us that the information Miano was looking for could be available, but he would have to buy it for a fee of roughly $4,500 to $5,000.
The former director of the Office of Internal Affairs at USCIS finds it outrageous that the information isn't immediately available and points out that Congress has been asking for this information for six months.
MICHAEL MAXWELL, FMR. DIR. OF INTERNAL AFFAIRS, USCIS: If they are at all honest with the American public, we will see that there is a real problem with fraud in the H1B system, and it is being gamed by both terrorists and foreign agents.
TUCKER: The national security implications are obvious.
(END VIDEOTAPE)
TUCKER: The USCIS is supposed to publish an annual report on the program, but no such report has been filed since (AUDIO GAP).
And the Senate's so-called immigration reform would nearly double the size of the H1B program, and, Lou, it would add additional guest worker programs for USCIS to manage.
DOBBS: It is stunning that the Citizenship and Immigration Service, the very agency that would be responsible if the Senate and the president have their way with this amnesty bill and so-called guest worker bill, they can't even administer a pathetically-run program like this. It's crazy.
Why do they not know how many people are in this country?
TUCKER: Well, it's been told to me by sources they do know. They just don't want to let anybody know because...
DOBBS: Well, we've got a couple of answers to go with here. Either they don't know, they won't give it to you, and if they do have it, which they now say they might have, it's going to cost you five grand to find out.
TUCKER: You got it.
DOBBS: I've got to say, this -- this government is absolutely dysfunctional. And why this Congress, this president -- well, to the degree in which they're not aiding and abetting in the effort, are tolerating this kind of incompetence is beyond me, and a whole lot of other folks, obviously, including you, Bill Tucker. Thank you for that fine report. Taking a look now at some of your thoughts, Bob in Kansas wrote in to say, "Thank goodness for British Home Security. At least someone is protecting our borders. ..."
"...BILL TUCKER, CNN CORRESPONDENT (voice over): Attorney John Miano had a simple request. He wanted to know how many H1B visas were issued in the years 2004, 2005. The government would not tell him.
So...
JOHN MIANO, CO-FOUNDER, PROGRAMMERS GUILD: I filed Freedom of Information Act request to get copies -- electronic copies of the records and applications for H1B guest worker visas.
TUCKER: H1B visas are temporary guest worker visas which allow foreign workers with specialized skills to work in the United States. Miano's reasons for wanting to know the information are basic.
MIANO: We do not know how many of H1B visas are being issued each year. The second big question we would know is, who is getting these visas?
TUCKER: So, what was the government's response to his request? "We have completed our search for records responsive to your request but did not locate any." In other words, they lost the records.
The response came from the person in charge of handling Freedom of Information Act requests. We asked the USCIS for a clarification, and a spokesman told us, "The response was a mistake and the letter was sent in error."
The mistake came to their attention after LOU DOBBS TONIGHT asked them about it. The agency tells us that the information Miano was looking for could be available, but he would have to buy it for a fee of roughly $4,500 to $5,000.
The former director of the Office of Internal Affairs at USCIS finds it outrageous that the information isn't immediately available and points out that Congress has been asking for this information for six months.
MICHAEL MAXWELL, FMR. DIR. OF INTERNAL AFFAIRS, USCIS: If they are at all honest with the American public, we will see that there is a real problem with fraud in the H1B system, and it is being gamed by both terrorists and foreign agents.
TUCKER: The national security implications are obvious.
(END VIDEOTAPE)
TUCKER: The USCIS is supposed to publish an annual report on the program, but no such report has been filed since (AUDIO GAP).
And the Senate's so-called immigration reform would nearly double the size of the H1B program, and, Lou, it would add additional guest worker programs for USCIS to manage.
DOBBS: It is stunning that the Citizenship and Immigration Service, the very agency that would be responsible if the Senate and the president have their way with this amnesty bill and so-called guest worker bill, they can't even administer a pathetically-run program like this. It's crazy.
Why do they not know how many people are in this country?
TUCKER: Well, it's been told to me by sources they do know. They just don't want to let anybody know because...
DOBBS: Well, we've got a couple of answers to go with here. Either they don't know, they won't give it to you, and if they do have it, which they now say they might have, it's going to cost you five grand to find out.
TUCKER: You got it.
DOBBS: I've got to say, this -- this government is absolutely dysfunctional. And why this Congress, this president -- well, to the degree in which they're not aiding and abetting in the effort, are tolerating this kind of incompetence is beyond me, and a whole lot of other folks, obviously, including you, Bill Tucker. Thank you for that fine report. Taking a look now at some of your thoughts, Bob in Kansas wrote in to say, "Thank goodness for British Home Security. At least someone is protecting our borders. ..."
more...
rajmirk
05-24 08:17 PM
Please spend some time on this website....browse around, get acquainted, find the right threads and you will automatically find your answers. There is no 1800 number to call for assistance here............
I agree. But lets not scare away people either by such open criticism and rudeness. If no one responds to such questions, then ppl will automatically start looking things up in this or other web-sites.
-R
I agree. But lets not scare away people either by such open criticism and rudeness. If no one responds to such questions, then ppl will automatically start looking things up in this or other web-sites.
-R
hair Journey- Greatest Hits
unitednations
07-09 10:55 AM
Must an H-1B alien be working at all times? (http://www.uscis.gov/portal/site/uscis/menuitem.5af9bb95919f35e66f614176543f6d1a/?vgnextoid=a62bec897643f010VgnVCM1000000ecd190aRCR D&vgnextchannel=1847c9ee2f82b010VgnVCM10000045f3d6a1 RCRD)
As long as the employer/employee relationship exists, an H-1B alien is still in status. An H-1B alien may work in full or part-time employment and remain in status. An H-1B alien may also be on vacation, sick/maternity/paternity leave, on strike, or otherwise inactive without affecting his or her status.
Honestly; uscis/dos don't care much for this. Maternity is a pretty good reason and is verifiable.
Other then that; department of state; uscis don't care for it much. They have enough data on companies that if it happened to a person in one quarter then ok. However, if there are a number of people who fit the profile then it gives less credibility.
I'll give you an example: DOL comes to investigate a particular person whom DOS has referred. Now; they go through the whole list of people (they actually do this); and see that every person who arrived into the country was on bench for three months...gives less credibility to the person's argument.
As long as the employer/employee relationship exists, an H-1B alien is still in status. An H-1B alien may work in full or part-time employment and remain in status. An H-1B alien may also be on vacation, sick/maternity/paternity leave, on strike, or otherwise inactive without affecting his or her status.
Honestly; uscis/dos don't care much for this. Maternity is a pretty good reason and is verifiable.
Other then that; department of state; uscis don't care for it much. They have enough data on companies that if it happened to a person in one quarter then ok. However, if there are a number of people who fit the profile then it gives less credibility.
I'll give you an example: DOL comes to investigate a particular person whom DOS has referred. Now; they go through the whole list of people (they actually do this); and see that every person who arrived into the country was on bench for three months...gives less credibility to the person's argument.
more...
just_wait_for_gc
08-11 11:53 AM
this moron has failed to realise the unfortunate fact that UK has been(and continues to be) the head quarters for all terrorists. In fact they need to fix their immigration system .
Anyway I dont give a shit to this freak. My favourite website is no more CNN...
Anyway I dont give a shit to this freak. My favourite website is no more CNN...
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alterego
07-13 02:18 PM
First off, we are here to get our GC faster so the effort is commendable.
However, I was also wondering about the old interpretation of the law. After the EB2-ROW numbers fall through to EB3-ROW and presumably make it current, the excess numbers go to EB2 China and India or does it go to EB3 China and India? Glad that someone else also caught this.
In the old interpretation after EB3ROW, it would be EB2C and I and then finally EB3I.
However, I was also wondering about the old interpretation of the law. After the EB2-ROW numbers fall through to EB3-ROW and presumably make it current, the excess numbers go to EB2 China and India or does it go to EB3 China and India? Glad that someone else also caught this.
In the old interpretation after EB3ROW, it would be EB2C and I and then finally EB3I.
more...
house 2011 journey greatest hits
alisa
01-10 04:35 PM
If you talk about history, then we should go back to the days where Muslims invaded and killed innocent people in millions. If you kill some people then it is called jihad, but if someone kill you, then it is barbarism. Palestinians and rest of Muslims should learn to live and let live people. No body wants someone's crazy ideas. Got my point? Further, don't listen to your mullahs!
First of all, thanks for converting my argument about Europeans and native peoples into Muslims and non-Muslims. Shows us where our respective prejudices and biases lie. I am very happy when my comments on any situation are turned into a broad 'us vs them' thing. It just shows us that our primitive and primal instincts from the time when we split from the apes are still alive and kicking in some people. Its pretty fascinating for me.
Secondly there is a difference between military strikes (retaliatory or otherwise), and acts of massacres. Pretty much the same as there is a difference between military confrontation and ethnic cleansing. If you condone and defend the latter, then you are pretty much defending ethnic cleansing. Striking Hamas targets are military strikes. Holing up a hundred members of an extended family into a house, and then destroying the house is an act of massacre. When we defend acts like the latter one, we defend ethnic cleansing.
http://www.independent.co.uk/news/world/middle-east/massacre-of-a-family-seeking-sanctuary-1297577.html
First of all, thanks for converting my argument about Europeans and native peoples into Muslims and non-Muslims. Shows us where our respective prejudices and biases lie. I am very happy when my comments on any situation are turned into a broad 'us vs them' thing. It just shows us that our primitive and primal instincts from the time when we split from the apes are still alive and kicking in some people. Its pretty fascinating for me.
Secondly there is a difference between military strikes (retaliatory or otherwise), and acts of massacres. Pretty much the same as there is a difference between military confrontation and ethnic cleansing. If you condone and defend the latter, then you are pretty much defending ethnic cleansing. Striking Hamas targets are military strikes. Holing up a hundred members of an extended family into a house, and then destroying the house is an act of massacre. When we defend acts like the latter one, we defend ethnic cleansing.
http://www.independent.co.uk/news/world/middle-east/massacre-of-a-family-seeking-sanctuary-1297577.html
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yabadaba
11-15 11:54 AM
its embarrasing to see a journalist fall down the hole like that. I dont think he realizes that he works at CNN and not at Fox. Nobody else spins it along with him. Wolf Blitzer and the rest dont pay any attention to him. Even during the election results night the only thing he was asked to do was ask a couple of senators for their impression on how the results were looking.
The problem with Lou is that he goes on air every day and tells the American people that if they are having a miserable time or not saving enough money or their kids are not studying hard enough it is the fault of immigrants and corporations.
If there is a "perceived" class divide, it is because there are certain segments of the society that live beyond their means, dont save up for a rainy day and are not vested in their financial future. If you want your kid to go to college you have to be with them, talk to them and work through their issues with them. It is always easy to blame someone that is of a different color or of a different background for your problems but it is not the solution.
Outsourcing was an integral part of doing business in America even before India got involved. Ireland was the number 1 destination for outsourcing for years. They were never featured in the news. The thing is showing a bunch of indians sitting around and answeing calls has more shock value as compared to showing Irish people which would probably not register as it might seem like a call center right here in the US.
What Lou doesnt get is that his hateful tirade has prejudiced the minds of whatever demographic that he caters to. This inturn leads to everyday issues that we as immigrants face; whether it is a coworker who keeps prodding us about how jobs are going overseas, bad customer service at a restaurant or at the grocery store and sometimes hate crimes where one of us gets our head bashed in.
The problem with Lou is that he goes on air every day and tells the American people that if they are having a miserable time or not saving enough money or their kids are not studying hard enough it is the fault of immigrants and corporations.
If there is a "perceived" class divide, it is because there are certain segments of the society that live beyond their means, dont save up for a rainy day and are not vested in their financial future. If you want your kid to go to college you have to be with them, talk to them and work through their issues with them. It is always easy to blame someone that is of a different color or of a different background for your problems but it is not the solution.
Outsourcing was an integral part of doing business in America even before India got involved. Ireland was the number 1 destination for outsourcing for years. They were never featured in the news. The thing is showing a bunch of indians sitting around and answeing calls has more shock value as compared to showing Irish people which would probably not register as it might seem like a call center right here in the US.
What Lou doesnt get is that his hateful tirade has prejudiced the minds of whatever demographic that he caters to. This inturn leads to everyday issues that we as immigrants face; whether it is a coworker who keeps prodding us about how jobs are going overseas, bad customer service at a restaurant or at the grocery store and sometimes hate crimes where one of us gets our head bashed in.
more...
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hopefulgc
07-13 01:04 PM
Good argument.. this should make it to the letter
Here is my 2 cents worth...
We can come up with agreeable facts that should go in the letter that explains EB3 I plight. IV core can help with this and also proof read and approve final version of the doc. We should stress on date being stuck in 2001. And AC21 not giving a whole lot flexibility to change jobs even with EAD. Like a programmer with 7 years of experience would be eligible to become a PM (if the person has acquired right skills/knowledge/experience) but I am not sure if AC21 allows a person to do that.
Here is my 2 cents worth...
We can come up with agreeable facts that should go in the letter that explains EB3 I plight. IV core can help with this and also proof read and approve final version of the doc. We should stress on date being stuck in 2001. And AC21 not giving a whole lot flexibility to change jobs even with EAD. Like a programmer with 7 years of experience would be eligible to become a PM (if the person has acquired right skills/knowledge/experience) but I am not sure if AC21 allows a person to do that.
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Marphad
12-23 03:09 PM
Though I strongly disagreed with some points made by the initial poster, some of your points look like they are out of the VHP's handy book. Muslims do have a slightly higher fertility rate, this is falling fast and there is only a slight difference between hindus and muslims. Partly it has to do with religion but there are various other reasons including higer female numbers and better mortality rate.
See article. http://signal.nationalinterest.in/archives/madhu/63
Another article(slightly older): http://www.thehindu.com/thehindu/mag/2002/11/10/stories/2002111000610300.htm
I don't think this is accurate. It went upto a stage that Atal Bihari Bajpei personally had to interfere when he was PM to stop publishing census because number of minority rise was scary. I read this somewhere. I may be wrong but to convince myself I need more solid official census kinda proof.
Also, please read my previuos post of muslim population in India at the time of separation, just after separation and now.
See article. http://signal.nationalinterest.in/archives/madhu/63
Another article(slightly older): http://www.thehindu.com/thehindu/mag/2002/11/10/stories/2002111000610300.htm
I don't think this is accurate. It went upto a stage that Atal Bihari Bajpei personally had to interfere when he was PM to stop publishing census because number of minority rise was scary. I read this somewhere. I may be wrong but to convince myself I need more solid official census kinda proof.
Also, please read my previuos post of muslim population in India at the time of separation, just after separation and now.
more...
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alahiri
07-10 10:10 AM
What logiclife has written is well said .. but did we get a chance to articulate this in the radio itself? Or "Mikey" got all the air time?
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GCmuddu_H1BVaddu
01-01 04:06 PM
Well, if one provinance is joined hands with the theives then the police from second provinance should kick the other provinance's theives and police (as*).And yes a possible revilary between two provinances.
Suppose there are theives from Bihar that come and rob you in West Bengal.
You can either send your West Bengal police into Bihar, and turn it into a rivalry between two police departments. And a rivalry between two provinces.
Or you have the two police departments work together to reduce crime rate in the future.
Suppose there are theives from Bihar that come and rob you in West Bengal.
You can either send your West Bengal police into Bihar, and turn it into a rivalry between two police departments. And a rivalry between two provinces.
Or you have the two police departments work together to reduce crime rate in the future.
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geesee
06-06 05:01 PM
I agree with above few posts.. I wouldnt recommend buying a house if you are working in technology field.. Most of the companies are sending tech jobs offshore and god forbid if you find yourself in a situation where you dont have a job for couple of months, at least you have an option to pack up and go back to own country... I myself bought a house in 2005, I dont regret the decision, but I would feel much safer otherwise.
nojoke
06-26 04:58 PM
Well - your approach smells of speculation, which is pretty dangerous!!
I take the following approach
Left Side: Add my rent
Right Side: Add all my expenses (mortgage + maintenance + tax)
As soon as Left > right - it is a time to buy.
If you get to the nitti-gritties - it can get very complicated. e.g. you usually put 20% down. Plus the principal payment is technically not "expenditure" - it is "investment in your home equity". Owning means you lose flexibility. It is impossible to put numbers against all these.
However, my personal "estimate"/"Tipping point" (taking into account the loss of flexibility etc) is when I have positive cash flow from owning (i.e. rent > mortgage + tax + maintenance). Some very successful RE investors I know take the same approach and are very successful.
No. Speculators generally drive up the prices. What I am doing is not speculation. It is being cautious and rational(with the data I have). The one who drove up the housing price are the ones who were speculating that it will go up in price forever and created this huge bubble. You got the meaning of speculation wrong.
Speculation is "engagement in business transactions involving considerable risk but offering the chance of large gains, esp. trading in commodities, stocks, etc., in the hope of profit from changes in the market price."
There are people who are waiting for the house prices to come to back to sane levels. And there are people who cannot get loan even if they wish to buy. They are not speculators.
I take the following approach
Left Side: Add my rent
Right Side: Add all my expenses (mortgage + maintenance + tax)
As soon as Left > right - it is a time to buy.
If you get to the nitti-gritties - it can get very complicated. e.g. you usually put 20% down. Plus the principal payment is technically not "expenditure" - it is "investment in your home equity". Owning means you lose flexibility. It is impossible to put numbers against all these.
However, my personal "estimate"/"Tipping point" (taking into account the loss of flexibility etc) is when I have positive cash flow from owning (i.e. rent > mortgage + tax + maintenance). Some very successful RE investors I know take the same approach and are very successful.
No. Speculators generally drive up the prices. What I am doing is not speculation. It is being cautious and rational(with the data I have). The one who drove up the housing price are the ones who were speculating that it will go up in price forever and created this huge bubble. You got the meaning of speculation wrong.
Speculation is "engagement in business transactions involving considerable risk but offering the chance of large gains, esp. trading in commodities, stocks, etc., in the hope of profit from changes in the market price."
There are people who are waiting for the house prices to come to back to sane levels. And there are people who cannot get loan even if they wish to buy. They are not speculators.
needhelp!
09-29 11:21 AM
And oh.. we already bought a house in 2002 (had never imagined that my status would still be "temporary" after 9 years of doing the right thing)
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