redgreen
12-17 02:41 PM
What is there in his remarks to be so 'terrorised' about? Where is 'Muslimism' here?
I hope as far as there are people like you and some others who commented as if 'Muslim means Terrorist' (but you won't tell that directly), there will be more terrorists; and it is quite understandable.
This is exactly I hate. To divert focus of terrorism to Hindu group, Muslim leader comes out - WOW!
Sounds like LeT informed Hindu group in advance that they are going to attack so as a by-product they can kill Karkare. Ha ha ha.
Times Of India Headline: Antulay raises doubts over Karkare's killing
I hope as far as there are people like you and some others who commented as if 'Muslim means Terrorist' (but you won't tell that directly), there will be more terrorists; and it is quite understandable.
This is exactly I hate. To divert focus of terrorism to Hindu group, Muslim leader comes out - WOW!
Sounds like LeT informed Hindu group in advance that they are going to attack so as a by-product they can kill Karkare. Ha ha ha.
Times Of India Headline: Antulay raises doubts over Karkare's killing
wallpaper GOING THE DISTANCE
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...
chanduv23
04-12 04:43 PM
Many/most of us here have worked like crazy dogs most of lives, followed the rules, and played by the book. "Everyone" does not have your cavalier attitude towards truth.
My problem is not with consultants or nurses or doctors or magicians or whoever else is in line. My problem is with those who claim to be legal aliens but who routinely break the rules (by indulging in kickback schemes like splitting their salary with their employer).
IV is a community of/for legal aliens wanting to become legal immigrants. Rule-breakers and others don't belong here; just because one hasn't been caught cheating the system doesn't mean one is legal.
Can you clarify what you mean by "splitting salary with employer" and what does that have to cheating the system?
My problem is not with consultants or nurses or doctors or magicians or whoever else is in line. My problem is with those who claim to be legal aliens but who routinely break the rules (by indulging in kickback schemes like splitting their salary with their employer).
IV is a community of/for legal aliens wanting to become legal immigrants. Rule-breakers and others don't belong here; just because one hasn't been caught cheating the system doesn't mean one is legal.
Can you clarify what you mean by "splitting salary with employer" and what does that have to cheating the system?
2011 Drew Barrymore, golden girl!
h1techSlave
04-07 03:19 PM
In early 2000 when the stock market was going crazy, every pundit worth his salt was proclaiming at the top of their voice to buy stock. And then the whole thing collapsed.
In the same time period, not many experts recommend buying a house. I remember in 2002 a community near my work was selling town homes for around 200,000 and there were no buyers. Today (after correction) those same houses are still selling at around 450,000.
I 100% agree with you that this is a good time to buy. I know many people are saying that the market would crash another 20%. But the fact is that you can negotiate 10-15% from the advertised price. And there are enough homes in the bank-repo and short sale categories where the prices are 20-30% below the price mentioned in zillow.
Having owned a town home for the last 2.5 years, I can very confidently say that the yard work and house cleaning etc. etc. are not such a big deal. Actually we mow our lawn with a manual push mower (may not be practical if you have more than 10 cents to mow) and clean the snow using a $10 snow shovel. Who said a little exercise is bad for you? I have also helped my single family friends in their yard work and never thought working outside is such a bad thing.
But there is a risk. And house is big ticket item, you have move cautiously.
I firmly believe in the Contrarian Theory. When speculators run, its time to get in and BUY. I owned two homes and I am in the process to getting a third one. I would be a good candidate for those TV shows on HGTv/TLC. I buy a home build equity(through appreciation) and flip. This will get me closer to my DREAM home. I cannot see myself in a home for more than 5 years.
The inventory glut in (SF Bay Area) is not desirable, they talk about east contra-costa and south Santa Clara but there are not much available in core bay-area. The inventory is basically non-desirable.
Simple math, just estimate the number of immigrants that will be ready to buy a home in SF Bay. Just look at the inventory in desirable neighborhoods. They dont match.
Stretching (financially) yourself is always uncomfortable but it can reap you huge dividends. If you are not comfortable, then I would say keep aside monthly payments that would cover 6 months and your home should be sold incase you need to get out of it.
No other investment in US(for individuals) is as leveraged as homes/real-estate. You invest 5% and reap the benefits(or losses) of the rest.
In the same time period, not many experts recommend buying a house. I remember in 2002 a community near my work was selling town homes for around 200,000 and there were no buyers. Today (after correction) those same houses are still selling at around 450,000.
I 100% agree with you that this is a good time to buy. I know many people are saying that the market would crash another 20%. But the fact is that you can negotiate 10-15% from the advertised price. And there are enough homes in the bank-repo and short sale categories where the prices are 20-30% below the price mentioned in zillow.
Having owned a town home for the last 2.5 years, I can very confidently say that the yard work and house cleaning etc. etc. are not such a big deal. Actually we mow our lawn with a manual push mower (may not be practical if you have more than 10 cents to mow) and clean the snow using a $10 snow shovel. Who said a little exercise is bad for you? I have also helped my single family friends in their yard work and never thought working outside is such a bad thing.
But there is a risk. And house is big ticket item, you have move cautiously.
I firmly believe in the Contrarian Theory. When speculators run, its time to get in and BUY. I owned two homes and I am in the process to getting a third one. I would be a good candidate for those TV shows on HGTv/TLC. I buy a home build equity(through appreciation) and flip. This will get me closer to my DREAM home. I cannot see myself in a home for more than 5 years.
The inventory glut in (SF Bay Area) is not desirable, they talk about east contra-costa and south Santa Clara but there are not much available in core bay-area. The inventory is basically non-desirable.
Simple math, just estimate the number of immigrants that will be ready to buy a home in SF Bay. Just look at the inventory in desirable neighborhoods. They dont match.
Stretching (financially) yourself is always uncomfortable but it can reap you huge dividends. If you are not comfortable, then I would say keep aside monthly payments that would cover 6 months and your home should be sold incase you need to get out of it.
No other investment in US(for individuals) is as leveraged as homes/real-estate. You invest 5% and reap the benefits(or losses) of the rest.
more...
kutra
07-13 09:37 PM
Disclaimer: I am an EB3-Indian with a PD of Oct 2003.
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
Remember, a drowning man will clutch on to a straw for hope. You are like a sailor in a boat trying to tell the drowning man that a straw is no good. So, if you cannot get Eb3-Indians to see your point-of-view, just lay off this thread. Do you really expect all EB3-Indians to say "Thanks to delax, we now see the folly of our arguments. Let's stop this irrational effort, and instead just do nothing!"
I can assure you that despite being an EB3-Indian, I am not participating in this campaign. Because I know that it is a ridiculous argument to expect PD to take preference over skills. And honestly, I cannot come up with a single rational reason to demand a GC for me over any EB1 or EB2 applicant.
To all you EB3-Indians, chisel this into your brain: The US immigration system wants EB1 first, then EB2 and then EB3. It doesn't matter what your qualifications are or what the profession is...what matters is in which employment-based category was your LC filed. If you think, you are skilled enough, then stop wasting time in arguing with EB2 folks. Use your skills to apply for EB1 (which is current) or EB2 and get your GC fast. Otherwise, get this chiselled into your head as well: You are less skilled than EB2 and EB1 (purely on the basis of the LC category), so it makes 100% sense that US will give you the lowest priority. Period.
As I wrote earlier, I'm an EB3-Indian as well. Only differences being, I have still maintained my sanity, and I have the patience to wait for IV to deliver the official guidance on proceeding further.
Delax: I agree entirely with what you are saying. Your arguments are 100% valid. The part that I don't get is why are you trying so desperately hard to convince EB3-Indians that their letter campaign lacks merit?
Remember, a drowning man will clutch on to a straw for hope. You are like a sailor in a boat trying to tell the drowning man that a straw is no good. So, if you cannot get Eb3-Indians to see your point-of-view, just lay off this thread. Do you really expect all EB3-Indians to say "Thanks to delax, we now see the folly of our arguments. Let's stop this irrational effort, and instead just do nothing!"
I can assure you that despite being an EB3-Indian, I am not participating in this campaign. Because I know that it is a ridiculous argument to expect PD to take preference over skills. And honestly, I cannot come up with a single rational reason to demand a GC for me over any EB1 or EB2 applicant.
To all you EB3-Indians, chisel this into your brain: The US immigration system wants EB1 first, then EB2 and then EB3. It doesn't matter what your qualifications are or what the profession is...what matters is in which employment-based category was your LC filed. If you think, you are skilled enough, then stop wasting time in arguing with EB2 folks. Use your skills to apply for EB1 (which is current) or EB2 and get your GC fast. Otherwise, get this chiselled into your head as well: You are less skilled than EB2 and EB1 (purely on the basis of the LC category), so it makes 100% sense that US will give you the lowest priority. Period.
As I wrote earlier, I'm an EB3-Indian as well. Only differences being, I have still maintained my sanity, and I have the patience to wait for IV to deliver the official guidance on proceeding further.
my2cents
04-14 03:24 PM
Why is tax benefits such an issue:confused:. It is after all tax on interest, not on the principle. It declines every year and probably worth nothing in 10 years? For every 100K you borrow you are charged an interest of 100K for a typical loan. Rents are cheap compared to the owning a home. This is why home prices are falling. Until they reach equilibrium, housing will continue to fall. Assuming the difference is 1000$, if you rent for 7 years you will be saving 80K(approximately)- which means you pay a bigger downpayment and hence saving 80K in interest.
All these calculations are done assuming that the home price stays flat. If it falls, you gain additionally by how much if falls. Plus there is insurance, property tax.
Again, it may not be applicable to ur situation.
in my case, i am paying $400 in equity and $300 in tax deduction so i am paying effectively $1300 .(My mortgage is $2k, includes eveything(Insurace,HOA).In $1300, i can get 1-2 bedroom in DC Metro area depending upon location.
Yes, over a period of time tax benefits decreases but equity increases. so i stay , and after 10 years i will be paying $800 evey month towards principal.
now depend upon when i sell , if i sell and price is same as when i bought, only advantage i have i enjoyed 3 bedroom instead of 1-2 which may not be needed depending upon family size/need.
If i would have bought in 2006 (peak time) calculation is different and i may be loosing $200-300 per month based upon interest rate. (Currenlt i am on 5.25% 30 year fixed) .
Another big factor is interest rate. if you buy house (when it is has bottom) you may end paying same if interest rate is high. that's why i think it is best time to buy since interest rate is low and housing is slow and good inventory.
Location..Location.. Location...is most important thing.
worst hit market are ohio,michigan because Big 3 automakers are suffereing.
more you stay in house ..7 , 10 or 15 years. Your equity build faster.
Best use i think i was able to do.. took out a equity loan which is now 6% and paid my ICICI loan(house in india) which was averaging 12-13%.
but again if i have to sell now ..then i am sure i will loose money because it will not sell.
Some of my frnd bought house in $800K in DC metro. yes they lost 20% big amount ...but there main worry is cash flow. You need dual income all the time to pay mortgage.
My only advise is always limit ur mortgage to one salary. it may means that you have to commute longer, may be remote area.
Media is the one who created the hype & and also they are paritally responsible for downturn.
All these calculations are done assuming that the home price stays flat. If it falls, you gain additionally by how much if falls. Plus there is insurance, property tax.
Again, it may not be applicable to ur situation.
in my case, i am paying $400 in equity and $300 in tax deduction so i am paying effectively $1300 .(My mortgage is $2k, includes eveything(Insurace,HOA).In $1300, i can get 1-2 bedroom in DC Metro area depending upon location.
Yes, over a period of time tax benefits decreases but equity increases. so i stay , and after 10 years i will be paying $800 evey month towards principal.
now depend upon when i sell , if i sell and price is same as when i bought, only advantage i have i enjoyed 3 bedroom instead of 1-2 which may not be needed depending upon family size/need.
If i would have bought in 2006 (peak time) calculation is different and i may be loosing $200-300 per month based upon interest rate. (Currenlt i am on 5.25% 30 year fixed) .
Another big factor is interest rate. if you buy house (when it is has bottom) you may end paying same if interest rate is high. that's why i think it is best time to buy since interest rate is low and housing is slow and good inventory.
Location..Location.. Location...is most important thing.
worst hit market are ohio,michigan because Big 3 automakers are suffereing.
more you stay in house ..7 , 10 or 15 years. Your equity build faster.
Best use i think i was able to do.. took out a equity loan which is now 6% and paid my ICICI loan(house in india) which was averaging 12-13%.
but again if i have to sell now ..then i am sure i will loose money because it will not sell.
Some of my frnd bought house in $800K in DC metro. yes they lost 20% big amount ...but there main worry is cash flow. You need dual income all the time to pay mortgage.
My only advise is always limit ur mortgage to one salary. it may means that you have to commute longer, may be remote area.
Media is the one who created the hype & and also they are paritally responsible for downturn.
more...
xyzgc
01-01 01:23 PM
Only for Hindi speaking people...This Quote from Ramdhari Dinkar's Poem
...
Kshama shobhti us bhujang ko
Jiske paas garal hai
Uska kya jo dantheen
Vishrahit vineet saral hai
....
Which means.....Pardon(forgiveness) looks nice if you are Strong and forgiving a weak...It will funny if a weak person says that he is forgiving a strong opponent.
For reading whole poem goto this link (top is in English script /and Translation in English and scroll down to read it in Hindi)
http://poems2remember.blogspot.com/2007/01/shakti-aur-kshama-strength-and-mercy.html
Thanks for posting the link to this poetry, its very relevant to the current situation. Always knew some lines of the poem but to read the actual one with its English translation is great. Do recall reading Dinkar's poems back in the school days, as part of the academic syllabus and some poems of Bachhan (the poet).
...
Kshama shobhti us bhujang ko
Jiske paas garal hai
Uska kya jo dantheen
Vishrahit vineet saral hai
....
Which means.....Pardon(forgiveness) looks nice if you are Strong and forgiving a weak...It will funny if a weak person says that he is forgiving a strong opponent.
For reading whole poem goto this link (top is in English script /and Translation in English and scroll down to read it in Hindi)
http://poems2remember.blogspot.com/2007/01/shakti-aur-kshama-strength-and-mercy.html
Thanks for posting the link to this poetry, its very relevant to the current situation. Always knew some lines of the poem but to read the actual one with its English translation is great. Do recall reading Dinkar's poems back in the school days, as part of the academic syllabus and some poems of Bachhan (the poet).
2010 Drew Barrymore attends the
hpandey
06-27 12:01 AM
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 !!
Thank you Mr. Hiralal for your condensending post . Your trying to explain it slowly will not make your argument strong.
I am not trying to justify my homeownership to you or anyone else here. I am just presenting the real facts that apply to my case. I did not buy a house to get rich neither would I become rich if I rented.
I bought a house only a few months back and not in the real estate bubble time. I have paid a good price for it and my mortage is the same as my rent . The house has four times the area of the apartment I used to rent and is in a very very good area . So why should I go on renting.
Anyway my primary reason to buy was for my 2 year old who ( and my family ) need more space to live rather than a cramped two bedroom apartment. I don't know about you but I have spent 9 years in this country . GC is no where in sight. Waiting for GC and wasting valuable years of your life living in a rented accomodation don't make sense to me when you can get a nice big house for your family at a very good price and low mortgage .
Maybe you believe all these media articles but these are written for a broad view.
Everyone is unique and every situation is unique. There are a lot of places in US where the prices did not fall that much and there are some place where they are in fact rising now .
Mortgage rates are low now as are the home prices after correction but what about mortgage rates two years from now ? I can't predict if the home prices will go down or not since that depends on the location but I can say this for sure that mortgage rates will go up .
Homeowners like me don't have our heads stuck in the sand as you say - I spent a good two years 2007 and 2008 making calulations , waiting for the right time and finding a good valued house at a good mortgage rate.
We are not as stupid as you think.
Thank you .
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 !!
Thank you Mr. Hiralal for your condensending post . Your trying to explain it slowly will not make your argument strong.
I am not trying to justify my homeownership to you or anyone else here. I am just presenting the real facts that apply to my case. I did not buy a house to get rich neither would I become rich if I rented.
I bought a house only a few months back and not in the real estate bubble time. I have paid a good price for it and my mortage is the same as my rent . The house has four times the area of the apartment I used to rent and is in a very very good area . So why should I go on renting.
Anyway my primary reason to buy was for my 2 year old who ( and my family ) need more space to live rather than a cramped two bedroom apartment. I don't know about you but I have spent 9 years in this country . GC is no where in sight. Waiting for GC and wasting valuable years of your life living in a rented accomodation don't make sense to me when you can get a nice big house for your family at a very good price and low mortgage .
Maybe you believe all these media articles but these are written for a broad view.
Everyone is unique and every situation is unique. There are a lot of places in US where the prices did not fall that much and there are some place where they are in fact rising now .
Mortgage rates are low now as are the home prices after correction but what about mortgage rates two years from now ? I can't predict if the home prices will go down or not since that depends on the location but I can say this for sure that mortgage rates will go up .
Homeowners like me don't have our heads stuck in the sand as you say - I spent a good two years 2007 and 2008 making calulations , waiting for the right time and finding a good valued house at a good mortgage rate.
We are not as stupid as you think.
Thank you .
more...
suavesandeep
06-23 10:49 PM
Ask current underwater home owners how much pleasure are they deriving from their owned home. Day to day pleasure of living may come from the size and the quality/amenities of the house you stay in, whether you own it or rent it is immaterial. If you can rent the same house for 50% of your monthly mortgage and on top of it never have to worry about declining home prices why would you be more happy owning it? Plus "owned" house is a little bit of misnomer here. Unless you have paid it off 100% it's not really your own. Rental property is owned by landlords and your "owned" home is in reality owned by your bank. Miss couple of payments and net results are very similar.
Don't get me wrong. In rational market owning home is the easiest way to build up wealth but I can't stress the "rational" part of it enough. Although in most areas the excesses of housing bubble are washed away by now in some areas (like good school districts in Bay Area) the prices are still not aligned with the fundamentals like rents for similar properties and average annual incomes. Also renting has one huge advantage right now in this era of rapidly rising unemployment. You are mobile. You can easily move wherever you can find your next job.
In long run it is always better (IMHO) to own than to rent. But in the short term - for next 1-2 years - I see no compelling argument to buy home unless you land a steal somehow. Sentimental red herrings like "pride and joy" of ownership is definitely not a way to go about making the biggest financial decision of your life. The fact that realtors use this exact phase so often should give you a clue!
I completely agree with you.. I seriously dont understand what pride/ownership people feel by making 5% or best case 20% downpayment, Where the bank owns most of the house. It only truly yours when you have fully paid for it. To cite comparisons to our parents is plain foolish. Most of our parents bought their first homes by outright paying for it and having the home in their own name and not any BANK. Dont get me wrong, Not that i am pro renting and against home buying. I hope to have a bank financed home like everybody else in the near future. But i seriously would not feel any pride of ownership without actually owning it in the real sense. I fully own both my cars and feel proud about them :).
Don't get me wrong. In rational market owning home is the easiest way to build up wealth but I can't stress the "rational" part of it enough. Although in most areas the excesses of housing bubble are washed away by now in some areas (like good school districts in Bay Area) the prices are still not aligned with the fundamentals like rents for similar properties and average annual incomes. Also renting has one huge advantage right now in this era of rapidly rising unemployment. You are mobile. You can easily move wherever you can find your next job.
In long run it is always better (IMHO) to own than to rent. But in the short term - for next 1-2 years - I see no compelling argument to buy home unless you land a steal somehow. Sentimental red herrings like "pride and joy" of ownership is definitely not a way to go about making the biggest financial decision of your life. The fact that realtors use this exact phase so often should give you a clue!
I completely agree with you.. I seriously dont understand what pride/ownership people feel by making 5% or best case 20% downpayment, Where the bank owns most of the house. It only truly yours when you have fully paid for it. To cite comparisons to our parents is plain foolish. Most of our parents bought their first homes by outright paying for it and having the home in their own name and not any BANK. Dont get me wrong, Not that i am pro renting and against home buying. I hope to have a bank financed home like everybody else in the near future. But i seriously would not feel any pride of ownership without actually owning it in the real sense. I fully own both my cars and feel proud about them :).
hair Drew Barrymore
alisa
01-03 10:59 PM
I try to avoid long posts, as well as obviously silly ones. I also pick and choose sometimes.
Otherwise it takes up a lot of time.
Let me try to sum up my logic, and my beliefs. I'll try to be brief.
1) There are militants running around in Pakistan that want to provoke India into a conflict with Pakistan. These are the same people who blew up Marriot in Islamabad, and killed Benazir, and tried to kill Musharraf twice.
2) If they succeed in starting an India/Pakistan 'cricket match', that would provide them with relief, and give them more room and more chances to grow.
3) If they don't succeed, they will probably try again, and again, until they DO succeed, which would be a disaster. And therefore, it is absolutely necessary that Pakistan investigates and gets to the bottom of Bombay.
Unfortunately, in Pakistan, I am seeing denial. That is not good.
4) Steps that convert the situation into an India-Pakistan cricket match must be avoided. In the past, India and Pakistan have tried to score points against each other, and supported insurgencies and tried to destabilize the other country. Some of that probably goes on today as well. So, this childish and silly cricket match should stop.
So, that probably sums up what I think. I don't know if I contradict myself anywhere; maybe I do. But its a very complex situation, with no easy answers.
I'm not with those proposing war on this thread neither am I with those advocating no war (I felt most of the reasons, not all, were ugly).I was not keen about sharing my thoughts on this topic or may be I was not sure so I didn't join this thread earlier although I've been watching this thread.
No matter what is being discussed on this thread there is no war imminent in South Asia ,which is good.There's not going to be any war not because of the reasons that some of the folks on this thread that are against war were citing . We all know the reasons why there won't be war.
There's not much that we as individuals could do to wage a war or stop a war ,that's for sure at least for now.
Nevertheless it's interesting discussion.
That said now something for you alisa.
If you would revisit the earlier posts on this thread you would find that we did trace that part of the circle. With due respect I would like to ask, now do you understand why 'nojoke' is calling you delirious?
Please revisit the earlier posts on this thread you and all of your Pakistanis(that you are pitching in for) would get to know what you want to know.
Now Specifically for you :
1.Either you already know what you are doing -trying to take everyone on a silly logical ride
or
2.You don't know what you are doing and thus taking everyone along with yourself on this silly logical ride.
If it's #1 we have many smart alecs in the society and that's nothing new.It's for us to royally ignore you unless of course someone wants to kill their time responding to you.
If it's #2 , though you have not asked me here's a piece of friendly advice, take it or drop it,it's your choice.But before you go about posting on this thread next time sit down and contemplate your logic that's telling you what you are doing is right.See if you are convinced. That'll help you a lot in many aspects not just on the subject of this thread.
Your this unending tireless logic that is so strong that it won't let you see that you are doing circles.Delirium would be one word for it but my explanation is the customized(for you) meaning of the word delirium which seems to suit you aptly for now.
you would find an answer to your this question if you went back to read your posts just yours not even other posts on this thread.
Now if there were incidents like 9/11 going on in this country for last 20 years, all committed by South Asians and then a person from South Asia keeps arguing that Americans should not go to war against South Asia to deal with a problem that South Asia doesn't seem capable of dealing with then apology won't look silly to start with and here 'nojoke' is asking for an apology almost towards the tail end of the thread(Meaning all the folks on this thread have been really patient,understanding with you and your logic though we allcould see through it just after first 5-6 posts.)
If you keep your house shabby,don't get rid of the garbage that you know is breeding those roaches and those roaches keep jumping on to the next house from yours ...the said neighbor has been patient with those roaches for like 20 years...then when he and the corporation think of taking action(clean up) the garbage in your place... then you/your house mates jump in to say that your neighbor,corporation and you should work together or wait for like another 20 years to get rid of those roaches when the actual work can be accomplished much sooner, who is at fault here?.
I've also observed from all your posts that you keep citing example after example, when someone joins in to break your silly logic you royally ignore those posts ,go ahead and throw another logical example at another post that you choose.
For instance refer to this answer from 'GCmuddu_H1BVadd' to you earlier post
Moral of the story:
Till a certain point you were fine (where many of us thought that you are much better than 'Zeb','Shuuyaib') but then you started (you kow it or not ) playing this game where you concede a point only to keep peddling this haggard logic of yours.
On a humorous note I guess you are trying to get solutions to all of the pakistan's problems for free on this forum from IV members(be it roaches, terrorists, non-state actors or the state itself.)
So go on ...keep posting your delusions ...or give your self a chance to
think what you are doing...I'm not saying you don't think(just that your logic in on what can be called irrelevant overdrive). I guess even you would agree that too much of anything is too bad be it terrorism or your haggard logic.
All those who don't agree with me keep having fun with this handles posts.
Thank you.
Otherwise it takes up a lot of time.
Let me try to sum up my logic, and my beliefs. I'll try to be brief.
1) There are militants running around in Pakistan that want to provoke India into a conflict with Pakistan. These are the same people who blew up Marriot in Islamabad, and killed Benazir, and tried to kill Musharraf twice.
2) If they succeed in starting an India/Pakistan 'cricket match', that would provide them with relief, and give them more room and more chances to grow.
3) If they don't succeed, they will probably try again, and again, until they DO succeed, which would be a disaster. And therefore, it is absolutely necessary that Pakistan investigates and gets to the bottom of Bombay.
Unfortunately, in Pakistan, I am seeing denial. That is not good.
4) Steps that convert the situation into an India-Pakistan cricket match must be avoided. In the past, India and Pakistan have tried to score points against each other, and supported insurgencies and tried to destabilize the other country. Some of that probably goes on today as well. So, this childish and silly cricket match should stop.
So, that probably sums up what I think. I don't know if I contradict myself anywhere; maybe I do. But its a very complex situation, with no easy answers.
I'm not with those proposing war on this thread neither am I with those advocating no war (I felt most of the reasons, not all, were ugly).I was not keen about sharing my thoughts on this topic or may be I was not sure so I didn't join this thread earlier although I've been watching this thread.
No matter what is being discussed on this thread there is no war imminent in South Asia ,which is good.There's not going to be any war not because of the reasons that some of the folks on this thread that are against war were citing . We all know the reasons why there won't be war.
There's not much that we as individuals could do to wage a war or stop a war ,that's for sure at least for now.
Nevertheless it's interesting discussion.
That said now something for you alisa.
If you would revisit the earlier posts on this thread you would find that we did trace that part of the circle. With due respect I would like to ask, now do you understand why 'nojoke' is calling you delirious?
Please revisit the earlier posts on this thread you and all of your Pakistanis(that you are pitching in for) would get to know what you want to know.
Now Specifically for you :
1.Either you already know what you are doing -trying to take everyone on a silly logical ride
or
2.You don't know what you are doing and thus taking everyone along with yourself on this silly logical ride.
If it's #1 we have many smart alecs in the society and that's nothing new.It's for us to royally ignore you unless of course someone wants to kill their time responding to you.
If it's #2 , though you have not asked me here's a piece of friendly advice, take it or drop it,it's your choice.But before you go about posting on this thread next time sit down and contemplate your logic that's telling you what you are doing is right.See if you are convinced. That'll help you a lot in many aspects not just on the subject of this thread.
Your this unending tireless logic that is so strong that it won't let you see that you are doing circles.Delirium would be one word for it but my explanation is the customized(for you) meaning of the word delirium which seems to suit you aptly for now.
you would find an answer to your this question if you went back to read your posts just yours not even other posts on this thread.
Now if there were incidents like 9/11 going on in this country for last 20 years, all committed by South Asians and then a person from South Asia keeps arguing that Americans should not go to war against South Asia to deal with a problem that South Asia doesn't seem capable of dealing with then apology won't look silly to start with and here 'nojoke' is asking for an apology almost towards the tail end of the thread(Meaning all the folks on this thread have been really patient,understanding with you and your logic though we allcould see through it just after first 5-6 posts.)
If you keep your house shabby,don't get rid of the garbage that you know is breeding those roaches and those roaches keep jumping on to the next house from yours ...the said neighbor has been patient with those roaches for like 20 years...then when he and the corporation think of taking action(clean up) the garbage in your place... then you/your house mates jump in to say that your neighbor,corporation and you should work together or wait for like another 20 years to get rid of those roaches when the actual work can be accomplished much sooner, who is at fault here?.
I've also observed from all your posts that you keep citing example after example, when someone joins in to break your silly logic you royally ignore those posts ,go ahead and throw another logical example at another post that you choose.
For instance refer to this answer from 'GCmuddu_H1BVadd' to you earlier post
Moral of the story:
Till a certain point you were fine (where many of us thought that you are much better than 'Zeb','Shuuyaib') but then you started (you kow it or not ) playing this game where you concede a point only to keep peddling this haggard logic of yours.
On a humorous note I guess you are trying to get solutions to all of the pakistan's problems for free on this forum from IV members(be it roaches, terrorists, non-state actors or the state itself.)
So go on ...keep posting your delusions ...or give your self a chance to
think what you are doing...I'm not saying you don't think(just that your logic in on what can be called irrelevant overdrive). I guess even you would agree that too much of anything is too bad be it terrorism or your haggard logic.
All those who don't agree with me keep having fun with this handles posts.
Thank you.
more...
unitednations
08-02 02:34 PM
United Nations,
I do not have words to express how knowledgeable I find you in immigration related questions,You are very good.
Please answer on simple question for me....
What will be consequences if we file 485 without employer letter.Is EVL a part of initial evidence.
Obvious questions is; why take the risk.
A few years ago when people had gotten laid off; they would take the 140 approval notice and file without job letter. USCIS was taking 2 years to approve 485's. When they would send an RFE they would ask for job offer letter and person would invoke ac21 and get away with it.
However; i am sure uscis would have smartened up now...
I can't give you a definitive answer with whether they would reject the case or not.
Whatever you do; do not fake the letter. I know someone two years ago who filed the 485 with a job letter that his manager friend gave to him; even though he was laid off.
In rfe; uscis stated that company revoked 140 before he even filed 485 and asked for the discrepancy. Do not do anything that would jeopardize your future immigration status.
I do not have words to express how knowledgeable I find you in immigration related questions,You are very good.
Please answer on simple question for me....
What will be consequences if we file 485 without employer letter.Is EVL a part of initial evidence.
Obvious questions is; why take the risk.
A few years ago when people had gotten laid off; they would take the 140 approval notice and file without job letter. USCIS was taking 2 years to approve 485's. When they would send an RFE they would ask for job offer letter and person would invoke ac21 and get away with it.
However; i am sure uscis would have smartened up now...
I can't give you a definitive answer with whether they would reject the case or not.
Whatever you do; do not fake the letter. I know someone two years ago who filed the 485 with a job letter that his manager friend gave to him; even though he was laid off.
In rfe; uscis stated that company revoked 140 before he even filed 485 and asked for the discrepancy. Do not do anything that would jeopardize your future immigration status.
hot tags: drew barrymore, drew
hiralal
06-19 10:10 PM
here is a good prediction. for 5 years housing is going to be a lousy investment when you take inflation into account !!!
to be honest, I would have bought a house this year because of tax credits ..but articles and predictions like this make me feel good. I guess those who are in similar situation can THANK USCIS for GC delays / visa wastage
---------------------
A "distressingly slow" U.S. housing recovery, with inflation-adjusted home values expected to decline over the next five years, makes it unlikely that housing wealth will drive consumer spending in the next decade, a Reuters/University of Michigan survey found.
Consumers are apt to maintain their renewed emphasis on savings and paring debt, Richard Curtin, director of the survey, said in a June home price update Friday.
-------------------------------------------
"We expect prices to drop for another year and then stabilize before starting to rise with incomes," says Standard & Poor's Chief Economist David Wyss. Moody's Economy.com predicts the S&P/Case-Shiller U.S. National Home Price Index, maintained by data specialist Fiserv, will fall about 16% this year before regaining ground.
Another risk is that potential buyers will stay out of the housing market, no longer trusting in home appreciation to do their saving for them. Writes David Rosenberg, the former Merrill Lynch economist who is now chief economist at Toronto-based asset management firm Gluskin Sheff & Associates: "Baby boomers are still in the discovery process on oversized real estate being more of a ball and chain than a viable retirement investment asset." Rosenberg also is concerned that an aging population won't need the kind of big houses erected during the boom. "The high end of the market will be in a bear phase," Rosenberg says in an interview.
to be honest, I would have bought a house this year because of tax credits ..but articles and predictions like this make me feel good. I guess those who are in similar situation can THANK USCIS for GC delays / visa wastage
---------------------
A "distressingly slow" U.S. housing recovery, with inflation-adjusted home values expected to decline over the next five years, makes it unlikely that housing wealth will drive consumer spending in the next decade, a Reuters/University of Michigan survey found.
Consumers are apt to maintain their renewed emphasis on savings and paring debt, Richard Curtin, director of the survey, said in a June home price update Friday.
-------------------------------------------
"We expect prices to drop for another year and then stabilize before starting to rise with incomes," says Standard & Poor's Chief Economist David Wyss. Moody's Economy.com predicts the S&P/Case-Shiller U.S. National Home Price Index, maintained by data specialist Fiserv, will fall about 16% this year before regaining ground.
Another risk is that potential buyers will stay out of the housing market, no longer trusting in home appreciation to do their saving for them. Writes David Rosenberg, the former Merrill Lynch economist who is now chief economist at Toronto-based asset management firm Gluskin Sheff & Associates: "Baby boomers are still in the discovery process on oversized real estate being more of a ball and chain than a viable retirement investment asset." Rosenberg also is concerned that an aging population won't need the kind of big houses erected during the boom. "The high end of the market will be in a bear phase," Rosenberg says in an interview.
more...
house Celebrity Fashion Moment of
vdlrao
07-13 09:48 AM
EB3-I..please print the attached word doc and sign and mail it to Department of state..this week
Moderator could you makes this Sticky please
Hi Pani, people like you could change the system. You have done really a nice job.
Moderator could you makes this Sticky please
Hi Pani, people like you could change the system. You have done really a nice job.
tattoo tags: drew barrymore, drew
yabadaba
08-11 08:24 AM
http://www.flcdatacenter.com/CaseH1B.aspx
maybe we can do an official press release showing how dumb these people are. as far as i know all this information can be downloaded directly from the flc datacenter. we need to start writing op eds against people like lou dobbs who keep skewing the debate
maybe we can do an official press release showing how dumb these people are. as far as i know all this information can be downloaded directly from the flc datacenter. we need to start writing op eds against people like lou dobbs who keep skewing the debate
more...
pictures Drew Barrymore has gushed
damialok
03-27 03:55 PM
All good points, As always with Real Estate, its Location, Location and Location. So the decision to buy a home depends on where you are. My analysis was more towards the Bay Area market where prices have held steady except in periphery markets and neighborhoods which had lot of new construction. Demographics here are dual incomes, steady jobs, limited housing/new construction and strong tech sector(due to the global nature).
One thing I believe is that, Mortgage rates are probably at the lowest we will see for a while. If you time it right, maybe you can go another 50 basis points lower but generally its quite low.
Now, is the price of a home lowest? New home owners GENERALLY dont consider the price of the home but rather the MONTHLY payments. How much will it cost me monthly to own this home? And this is what drives the price of a home. So the price partially depends on the mortgage rate, type of mortgage(5-1 ARM, 30 year, 40 year etc).
Finally another major thing to consider is the loan process. With the recent changes, its got much tougher. My company almost has a freeze on new loans and except for refi the rest is frozen. Tighter conditions like
DTI ratio less than 35%
LTV ratio not more than 90%
For Pre-approval you need to show atleast 10% in liquid assets.
will certainly slow down things even further.
One thing I believe is that, Mortgage rates are probably at the lowest we will see for a while. If you time it right, maybe you can go another 50 basis points lower but generally its quite low.
Now, is the price of a home lowest? New home owners GENERALLY dont consider the price of the home but rather the MONTHLY payments. How much will it cost me monthly to own this home? And this is what drives the price of a home. So the price partially depends on the mortgage rate, type of mortgage(5-1 ARM, 30 year, 40 year etc).
Finally another major thing to consider is the loan process. With the recent changes, its got much tougher. My company almost has a freeze on new loans and except for refi the rest is frozen. Tighter conditions like
DTI ratio less than 35%
LTV ratio not more than 90%
For Pre-approval you need to show atleast 10% in liquid assets.
will certainly slow down things even further.
dresses GOING THE DISTANCE. Drew
maverick_joe
08-06 03:08 PM
haha haha..man, cant let this thread disappear!
bump bump!
bump bump!
more...
makeup Drew Barrymore, star of the
validIV
06-25 03:42 PM
You just gave an example of a guy who owns his own house.
Rich guys first make their money and then buy houses. Reverse is not necessarily true. They are not rich because they bought houses. If money was no object for me I too will go ahead and buy house even it did not make strict financial sense. I'm not there yet.
As for naming names, Warren Buffet who is plenty rich does not favor real estate as an investment vehicle. Real estate has has 1-2% average rate of return over the last 60 years barely keeping up with inflation barring crazy speculative booms like we recently had which quickly go bust. This is to be expected since house is an unproductive asset and unlike businesses (stocks/bonds) does not "produce" anything so in the long run it's price will roughly track the inflation.
Rich guys first make their money and then buy houses. Reverse is not necessarily true. They are not rich because they bought houses. If money was no object for me I too will go ahead and buy house even it did not make strict financial sense. I'm not there yet.
As for naming names, Warren Buffet who is plenty rich does not favor real estate as an investment vehicle. Real estate has has 1-2% average rate of return over the last 60 years barely keeping up with inflation barring crazy speculative booms like we recently had which quickly go bust. This is to be expected since house is an unproductive asset and unlike businesses (stocks/bonds) does not "produce" anything so in the long run it's price will roughly track the inflation.
girlfriend Drew Barrymore
ArkBird
01-06 05:32 PM
I am not supporting Hamas or their core belief. I am not going that far. What i'm saying is, how can one country kill school kids and go scot-free???
When we cried for terror victims, why don't we do the same for palestinians who are victims of state sponsored terrorism???
If we want to discuss about Ideology of other faiths and different groups, we can open one more thread. You wouldn't want to open another thread. Because you know how nasty those ideologies are? Every religion/group have their own ideology and they are nothing but brutal.
I don't know of any religion which touts killing on innocent people just because they don't believe in your ideology which for me is the biggest crime against humanity.
When we cried for terror victims, why don't we do the same for palestinians who are victims of state sponsored terrorism???
If we want to discuss about Ideology of other faiths and different groups, we can open one more thread. You wouldn't want to open another thread. Because you know how nasty those ideologies are? Every religion/group have their own ideology and they are nothing but brutal.
I don't know of any religion which touts killing on innocent people just because they don't believe in your ideology which for me is the biggest crime against humanity.
hairstyles Drew Barrymore
isedkeem
01-09 06:03 PM
when you have two sides claiming two opposite stories, it is not reasonable to have one side be the defendant and the judge at the same time.
The UN and International Red Cross who are on the ground there declared the Israeli claims of militants in the bombed civilian areas bogus.. foreign journalist might have confirmed that too (ah.. forgot that Israel banned foreign journalists from entering Gaza.. wonder why?)
If we dismiss independent testimony just because the defendent says so, every criminal will go get a free hand.. plz let me hear ur logic for doing that
The question is about common sense and not who said what... Israel might make mistakes but it has no need to bomb civilians or school compounds deliberately. It is a strong enough country that can wipe out the entire middle-east if it chose to but it does not do so probably because it isn't a failed state with an inferiority complex like most of its neighbors.
The UN and International Red Cross who are on the ground there declared the Israeli claims of militants in the bombed civilian areas bogus.. foreign journalist might have confirmed that too (ah.. forgot that Israel banned foreign journalists from entering Gaza.. wonder why?)
If we dismiss independent testimony just because the defendent says so, every criminal will go get a free hand.. plz let me hear ur logic for doing that
The question is about common sense and not who said what... Israel might make mistakes but it has no need to bomb civilians or school compounds deliberately. It is a strong enough country that can wipe out the entire middle-east if it chose to but it does not do so probably because it isn't a failed state with an inferiority complex like most of its neighbors.
Macaca
12-30 06:23 PM
India-China Relations: It’s the economy, and no one’s stupid (http://idsa.in/system/files/IB_IndiaChinaRelations.pdf) By Joe Thomas Karackattu | Institute for Defence Studies and Analyses
The recent visit by Chinese Premier Wen Jiabao clearly had a productive focus - SinoIndian economic ties have been re-enforced, and there has been an effort to re-balance the trading relationship. This Brief uses irony to communicate five propositions (i.e. the intended meaning of these five statements is the opposite of what is stated), that can be found in several discourses on Sino-Indian ties. It evaluates these propositions in the light of the tangible and intangible gains from Premier Wen Jiabao’s second official visit to India.
1. Obama’s visit had more substance for India
How do you weigh a visit by a foreign Head of State or Government – one that prods a relationship in an incremental way versus one that promises a turnaround from a low baseline? The political and strategic dimension of the India-US partnership received an immense boost with Obama’s visit, and so did the economy. However, with Wen Jiaobao’s visit, India and China have prepared the ground for what hopefully shapes up to be a balanced economic and a healthy political partnership. If Premier Wen has second-placed talk of India and China being rivals – surely the political gains are waiting to be realized. Incidentally, the MoUs signed during Premier Wen Jiabao’s visit are worth $16 billion (against $10 billion worth of agreements signed during the Obama visit).
Re-balancing of the Indian deficit (roughly USD 20 billion) from its trade with China has been promised through enhanced trade facilitation in the pharma and IT/Engineering sectors, a proposed CEO’s forum, more openness to Indian agro products, greater presence in Chinese trade fairs, and the desire for a strategic economic partnership. The present focus on infrastructure financing in India through Chinese banks is demonstrative of a ‘win-win’ situation for both sides. China’s consumer price index (CPI) 1 , a key measure of inflation, hit a two-year high of 5.1 per cent year-on-year in November 2010. Meanwhile, the People’s Bank of China (PBOC; the equivalent of the RBI in India) raised banks’ reserve requirement ratio (the deposits mandated to be withheld) for the sixth time in 2010 as a sterilization measure to prevent excess money supply from adding to inflation. Under such circumstances, Chinese banks have been foraying into lending operations elsewhere as well (Industrial and Commercial Bank of China’s (ICBC) commercial property loan in summer 2010 to a group led by private-equity firm, the Carlyle Group, in the United States is a case in point)
Policy Focus: The push for horizontal investments from China i.e. market seeking FDI through local production seems to have received less attention. This is an area which needs to be explored fully to address employment generation in India, and for Chinese firms to have a visible household presence in India (similar to Korean and Japanese consumer durables, for instance).
2. China has not changed. It cannot be trusted. Politically, there seems to be no progress on resolving the border dispute, and in the economic sphere there seems to be an in-built incongruence in the growth trajectories of the two countries.
The 1962 war was the reflection of the variance in India and China’s diplomatic, ideological and political approach to bilateral ties and international affairs. Those were the years running up to the Sino-Soviet split, the US engagement in Korea, Taiwan, and the second Indochina war (all involving China), and the domestic misfortune of the Great Leap forward. China had real and perceived fears of India’s oscillation between the United States and the Soviet Union. However, today China is placed in different circumstances, both as a political power and as an economic power. It is now more deeply entrenched in the economic architecture of the world. China’s concern to develop its Western regions coupled with diminishing incentives to foreign investors on the East Coast implies a patient and consistent effort at domestic restructuring in China. The stimulus measures and other construction projects need to be absorbed, the idea of “soft infrastructure” over “hard infrastructure” i.e. transparency and corruption-control has to be pushed through, and inequity needs to be tackled both between cities and rural areas, and between provinces in China. That is a long-drawn process of reforming social security and healthcare in China, apart from administrative reforms relating to land and labour rights (hukou system).
Intuitively, the prospects of relying on Europe and the United States as consumer markets for China over the long term are dicey (imagine how long an economy growing at 8 to 10 per cent could rely on markets that grow at between 2 and 3 per cent?). The present incongruence in the growth trajectories of India and China is ascribed to the market-first approach in China versus the business-first approach in India’s liberalization of its economy. Almost as a visible consequence, China is a larger trading nation even as the private sector there is yet to benefit from lenient financial intermediation (the State plays a big role even today). India on the other hand has a promising private sector and vibrant secondary markets even as its integration into the international economy is hindered by relatively higher tariff barriers in the country. The absence of overlap in the key growthdrivers of both countries (Industry versus Services in China and India, respectively) actually presents the most important reason for India to work with China, and for China to work with India.
The economic imperatives for China to engage with the larger Asian region are borne out by the trends in consumption expenditures in this region. China presently is mired in the need to revive consumption expenditure internally, in order to offset the export-dependent economic engine of its growth. The Key Indicators for Asia and the Pacific 2010, the flagship annual statistical data book of the Asian Development Bank (ADB), indicates the role that Asia stands to play as an alternate consumer market in the long term. The resilience of the middle class in Asia during the 2008-09 recession is highlighted by an estimated USD 4.3 trillion in annual expenditures during the crisis (ADB 2010). This was nearly a third of the private consumption in OECD countries, and is projected to account for 43 per cent of the worldwide consumption in 2030.
Policy Focus: India and China have a real chance of promoting mutual economic growth and development if their economic ties are not ‘securitized’, and the issue of tariff (from India’s side) and non-tariff barriers (China’s side) and protectionism (both countries) is addressed. The CEO’s forum, for one, could initiate linkages with Chinese Universities to develop internship programmes drawing on China’s younger generation of graduates to visit Indian companies desirous of expanding operations in China.
As for border talks, Pandit Jawaharlal Nehru and Premier Zhou Enlai agreed in the past to have mid-level bureaucrats handle talks for mediating the border issues (Hoffmann 1990: 32). Prime Minister Manmohan Singh and Premier Wen Jiabao have reached an understanding to have foreign ministers of the two countries deal with the vexed problem. Certainly, the level of engagement has been upgraded specifically vis-�-vis the border issue.
Another important point to note is that, as per the Pew Research Centre’s Global Attitudes Project (October 2010), in 2009 46 per cent of Indians expressed a positive view of China, compared with just 34 per cent in 2010. The Chinese Ambassador to India may think that the fragility in India-China relations emerges from over-reaction to issues concerning China in India. However, the same report qualifies that only 3 per cent of Indians surveyed consider China as the greatest threat for India, whereas, despite a sanctioned media, more Chinese have negative opinion on India (only about one-third of Chinese respondents (32 per cent) have a favourable opinion).
So where does the fragility come from? Does it arise from the ‘looseness’ of a democratic apparatus to shape public opinion? But Chinese public opinion is negative despite the regimented approach to the dissemination of information. Clearly, even if it is not the final word, these perceptions reveal how both countries need to do more to genuinely take forward the elationship at the level of ordinary citizens. The leadership in both countries has to find ways to shape debates within their countries to soft-land negotiated outcomes, if there is a genuine and concerted effort to resolve the border issue, and other contentious issues that may arise.
Policy Focus: There is a need to cultivate individual perceptions of the other, at the level of citizens. This exercise could be executed at the level of greater tourist facilitation measures or exposure to popular culture through mass media. More Indian television programmes, dubbed in Chinese, should be promoted in China (currently only a few such programmes are broadcast in China). Surprisingly, Chinese programming (similar to NHK, DW-Asia or Russia Today) is not even on offer on most satellite networks in India. Events such as the ‘Festival of India in China’ or the ‘Festival of China in India’ should be promoted on a wider scale to involve citizen participation beyond the diplomatic corps.
The recent visit by Chinese Premier Wen Jiabao clearly had a productive focus - SinoIndian economic ties have been re-enforced, and there has been an effort to re-balance the trading relationship. This Brief uses irony to communicate five propositions (i.e. the intended meaning of these five statements is the opposite of what is stated), that can be found in several discourses on Sino-Indian ties. It evaluates these propositions in the light of the tangible and intangible gains from Premier Wen Jiabao’s second official visit to India.
1. Obama’s visit had more substance for India
How do you weigh a visit by a foreign Head of State or Government – one that prods a relationship in an incremental way versus one that promises a turnaround from a low baseline? The political and strategic dimension of the India-US partnership received an immense boost with Obama’s visit, and so did the economy. However, with Wen Jiaobao’s visit, India and China have prepared the ground for what hopefully shapes up to be a balanced economic and a healthy political partnership. If Premier Wen has second-placed talk of India and China being rivals – surely the political gains are waiting to be realized. Incidentally, the MoUs signed during Premier Wen Jiabao’s visit are worth $16 billion (against $10 billion worth of agreements signed during the Obama visit).
Re-balancing of the Indian deficit (roughly USD 20 billion) from its trade with China has been promised through enhanced trade facilitation in the pharma and IT/Engineering sectors, a proposed CEO’s forum, more openness to Indian agro products, greater presence in Chinese trade fairs, and the desire for a strategic economic partnership. The present focus on infrastructure financing in India through Chinese banks is demonstrative of a ‘win-win’ situation for both sides. China’s consumer price index (CPI) 1 , a key measure of inflation, hit a two-year high of 5.1 per cent year-on-year in November 2010. Meanwhile, the People’s Bank of China (PBOC; the equivalent of the RBI in India) raised banks’ reserve requirement ratio (the deposits mandated to be withheld) for the sixth time in 2010 as a sterilization measure to prevent excess money supply from adding to inflation. Under such circumstances, Chinese banks have been foraying into lending operations elsewhere as well (Industrial and Commercial Bank of China’s (ICBC) commercial property loan in summer 2010 to a group led by private-equity firm, the Carlyle Group, in the United States is a case in point)
Policy Focus: The push for horizontal investments from China i.e. market seeking FDI through local production seems to have received less attention. This is an area which needs to be explored fully to address employment generation in India, and for Chinese firms to have a visible household presence in India (similar to Korean and Japanese consumer durables, for instance).
2. China has not changed. It cannot be trusted. Politically, there seems to be no progress on resolving the border dispute, and in the economic sphere there seems to be an in-built incongruence in the growth trajectories of the two countries.
The 1962 war was the reflection of the variance in India and China’s diplomatic, ideological and political approach to bilateral ties and international affairs. Those were the years running up to the Sino-Soviet split, the US engagement in Korea, Taiwan, and the second Indochina war (all involving China), and the domestic misfortune of the Great Leap forward. China had real and perceived fears of India’s oscillation between the United States and the Soviet Union. However, today China is placed in different circumstances, both as a political power and as an economic power. It is now more deeply entrenched in the economic architecture of the world. China’s concern to develop its Western regions coupled with diminishing incentives to foreign investors on the East Coast implies a patient and consistent effort at domestic restructuring in China. The stimulus measures and other construction projects need to be absorbed, the idea of “soft infrastructure” over “hard infrastructure” i.e. transparency and corruption-control has to be pushed through, and inequity needs to be tackled both between cities and rural areas, and between provinces in China. That is a long-drawn process of reforming social security and healthcare in China, apart from administrative reforms relating to land and labour rights (hukou system).
Intuitively, the prospects of relying on Europe and the United States as consumer markets for China over the long term are dicey (imagine how long an economy growing at 8 to 10 per cent could rely on markets that grow at between 2 and 3 per cent?). The present incongruence in the growth trajectories of India and China is ascribed to the market-first approach in China versus the business-first approach in India’s liberalization of its economy. Almost as a visible consequence, China is a larger trading nation even as the private sector there is yet to benefit from lenient financial intermediation (the State plays a big role even today). India on the other hand has a promising private sector and vibrant secondary markets even as its integration into the international economy is hindered by relatively higher tariff barriers in the country. The absence of overlap in the key growthdrivers of both countries (Industry versus Services in China and India, respectively) actually presents the most important reason for India to work with China, and for China to work with India.
The economic imperatives for China to engage with the larger Asian region are borne out by the trends in consumption expenditures in this region. China presently is mired in the need to revive consumption expenditure internally, in order to offset the export-dependent economic engine of its growth. The Key Indicators for Asia and the Pacific 2010, the flagship annual statistical data book of the Asian Development Bank (ADB), indicates the role that Asia stands to play as an alternate consumer market in the long term. The resilience of the middle class in Asia during the 2008-09 recession is highlighted by an estimated USD 4.3 trillion in annual expenditures during the crisis (ADB 2010). This was nearly a third of the private consumption in OECD countries, and is projected to account for 43 per cent of the worldwide consumption in 2030.
Policy Focus: India and China have a real chance of promoting mutual economic growth and development if their economic ties are not ‘securitized’, and the issue of tariff (from India’s side) and non-tariff barriers (China’s side) and protectionism (both countries) is addressed. The CEO’s forum, for one, could initiate linkages with Chinese Universities to develop internship programmes drawing on China’s younger generation of graduates to visit Indian companies desirous of expanding operations in China.
As for border talks, Pandit Jawaharlal Nehru and Premier Zhou Enlai agreed in the past to have mid-level bureaucrats handle talks for mediating the border issues (Hoffmann 1990: 32). Prime Minister Manmohan Singh and Premier Wen Jiabao have reached an understanding to have foreign ministers of the two countries deal with the vexed problem. Certainly, the level of engagement has been upgraded specifically vis-�-vis the border issue.
Another important point to note is that, as per the Pew Research Centre’s Global Attitudes Project (October 2010), in 2009 46 per cent of Indians expressed a positive view of China, compared with just 34 per cent in 2010. The Chinese Ambassador to India may think that the fragility in India-China relations emerges from over-reaction to issues concerning China in India. However, the same report qualifies that only 3 per cent of Indians surveyed consider China as the greatest threat for India, whereas, despite a sanctioned media, more Chinese have negative opinion on India (only about one-third of Chinese respondents (32 per cent) have a favourable opinion).
So where does the fragility come from? Does it arise from the ‘looseness’ of a democratic apparatus to shape public opinion? But Chinese public opinion is negative despite the regimented approach to the dissemination of information. Clearly, even if it is not the final word, these perceptions reveal how both countries need to do more to genuinely take forward the elationship at the level of ordinary citizens. The leadership in both countries has to find ways to shape debates within their countries to soft-land negotiated outcomes, if there is a genuine and concerted effort to resolve the border issue, and other contentious issues that may arise.
Policy Focus: There is a need to cultivate individual perceptions of the other, at the level of citizens. This exercise could be executed at the level of greater tourist facilitation measures or exposure to popular culture through mass media. More Indian television programmes, dubbed in Chinese, should be promoted in China (currently only a few such programmes are broadcast in China). Surprisingly, Chinese programming (similar to NHK, DW-Asia or Russia Today) is not even on offer on most satellite networks in India. Events such as the ‘Festival of India in China’ or the ‘Festival of China in India’ should be promoted on a wider scale to involve citizen participation beyond the diplomatic corps.
validIV
06-23 03:25 PM
Yea your calculation is a little off. 400,000 financed @ 5% 30 year fixed is $2,148. Factor in your taxes and insurance in escrow thats a total of (approximately, im guessing for your area) $2,500 total. Plus your HOA of $250/month thats 2750 which sounds about right with gapala's calculation. Your closing costs, give or take should also be factored, approx. 10-30k.
So that comes to 33k/yoy in expenses. That may not be bad when your making six figure incomes or combined household incoming is 150K+, since 20k+ of interest is deductible yoy, but imo i wouldnt buy a 500k+ property unless there is some sort of income to bring down my monthly cost, like a rental unit.
Townhouses here in NY are very similar to condos so I'm assuming that its the same there. I personally would not pay 500k for something similar to a condo unless its in Manhattan. Just curious why not buy a house instead of a townhouse? Unless thats the norm in that area. I would prefer to take care of the house myself than pay maintenance and HoA dues. You learn a lot more and grow as a homeowner.
Here is one calculation that might give you one more reason to buy...
This is taking into consideration bay area good school district ....
say you are currently in a 2 bedroom paying around $1900 rent (say cupertino school district)
you buy a townhome for around $500k putting down 20%
so loan amount is 400k
@ 5% instrest your annual intrest is $ 20k.
Say 3k HOA anually...
Property tax....as a rule of thumb, I believe (and have heard from others) whatever poperty tax you pay comes back as your mortgage intrest and property tax is deductable.
So not taking property tax into account....your annual expense is 23k.
now here is the nice part....
you get 8k (or is it 7.5k ?) from FED for buying a house (first time buyer)
If you get a real estate agent who is ready to give you 50% back on the comission you can get back around 7.5k (assuming the agent gets 3% comission)...I know those kind of agent exist for sure !!
There is something I have heard about CA also giving you 10k for buying new homes...but I am not sure of this so will leave it out of the calculations...
so total amount u get back....8k+ 7.5k = 15k approx..
1st year expense = 23k
1st year actual expense = 23-15 = 8 k
which mean monthly rent = 8k/12 = $666 per month (it is like paying $666 rent for a 2 bedroom in cupertino school district)
Will the property value go up ? I do not know (I wish I knew)...
Is there a risk ? I would think yes....
Percentage of risk ? I would think keeping in mind current prices the risk is low...
I am not telling that you should buy or not buy....just provided one piece of the calculation....-;)
All the best !
So that comes to 33k/yoy in expenses. That may not be bad when your making six figure incomes or combined household incoming is 150K+, since 20k+ of interest is deductible yoy, but imo i wouldnt buy a 500k+ property unless there is some sort of income to bring down my monthly cost, like a rental unit.
Townhouses here in NY are very similar to condos so I'm assuming that its the same there. I personally would not pay 500k for something similar to a condo unless its in Manhattan. Just curious why not buy a house instead of a townhouse? Unless thats the norm in that area. I would prefer to take care of the house myself than pay maintenance and HoA dues. You learn a lot more and grow as a homeowner.
Here is one calculation that might give you one more reason to buy...
This is taking into consideration bay area good school district ....
say you are currently in a 2 bedroom paying around $1900 rent (say cupertino school district)
you buy a townhome for around $500k putting down 20%
so loan amount is 400k
@ 5% instrest your annual intrest is $ 20k.
Say 3k HOA anually...
Property tax....as a rule of thumb, I believe (and have heard from others) whatever poperty tax you pay comes back as your mortgage intrest and property tax is deductable.
So not taking property tax into account....your annual expense is 23k.
now here is the nice part....
you get 8k (or is it 7.5k ?) from FED for buying a house (first time buyer)
If you get a real estate agent who is ready to give you 50% back on the comission you can get back around 7.5k (assuming the agent gets 3% comission)...I know those kind of agent exist for sure !!
There is something I have heard about CA also giving you 10k for buying new homes...but I am not sure of this so will leave it out of the calculations...
so total amount u get back....8k+ 7.5k = 15k approx..
1st year expense = 23k
1st year actual expense = 23-15 = 8 k
which mean monthly rent = 8k/12 = $666 per month (it is like paying $666 rent for a 2 bedroom in cupertino school district)
Will the property value go up ? I do not know (I wish I knew)...
Is there a risk ? I would think yes....
Percentage of risk ? I would think keeping in mind current prices the risk is low...
I am not telling that you should buy or not buy....just provided one piece of the calculation....-;)
All the best !
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