axp817
03-26 05:50 PM
I tried looking for the baltimore case but I don't have it on this computer. You might want to search for it on immigration.com.
That case had a lot more things in it.
1) person never worked at the location as specified by the greencard labor
2) person acknowledged he wasn't going to work there upon greencard approval
3) person was claiming ac21 within same employer for different location
Administrative appeals office; concurred that ac21 wasn't specific to geographic location and didn't have to be done with another company; it could be done within same company.
Then AAO went another way and picked on some other issues: Other issues they picked on was information on his g-325a and his work locations. They picked onthat he didn't have h-1b's approved for those particular locations or LCA's and he was out of status. he was good on the ac21 but was out of status prior to filing 485.
So when they started picking on these other things, do you know what eventually ended up happening - denial/approval?
I tried looking on immigration.com, a lot of hits came up when i searched for "baltimore AC21" but none of them were this particular case.
Aren't there many consulting scenarios where the labor is filed in a certain state but the employee (although worked for the same employer) worked in another location on H-1B (with due LCA amendments of course). Is that not acceptable from a GC perspective?
sorry, I don't mean to drag this topic on forever.
thanks,
That case had a lot more things in it.
1) person never worked at the location as specified by the greencard labor
2) person acknowledged he wasn't going to work there upon greencard approval
3) person was claiming ac21 within same employer for different location
Administrative appeals office; concurred that ac21 wasn't specific to geographic location and didn't have to be done with another company; it could be done within same company.
Then AAO went another way and picked on some other issues: Other issues they picked on was information on his g-325a and his work locations. They picked onthat he didn't have h-1b's approved for those particular locations or LCA's and he was out of status. he was good on the ac21 but was out of status prior to filing 485.
So when they started picking on these other things, do you know what eventually ended up happening - denial/approval?
I tried looking on immigration.com, a lot of hits came up when i searched for "baltimore AC21" but none of them were this particular case.
Aren't there many consulting scenarios where the labor is filed in a certain state but the employee (although worked for the same employer) worked in another location on H-1B (with due LCA amendments of course). Is that not acceptable from a GC perspective?
sorry, I don't mean to drag this topic on forever.
thanks,
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nogc_noproblem
08-22 02:59 PM
A university committee was selecting a new dean.
They had narrowed the candidates down to a mathematician, an economist and a lawyer.
Each was asked this question during their interview: "How much is two plus two?"
The mathematician answered immediately, "Four."
The economist thought for several minutes and finally answered, "Four, plus or minus one."
Finally the lawyer stood up, peered around the room and motioned silently for the committee members to gather close to him. In a hushed, conspiratorial tone, he replied, "How much do you want it to be?"
They had narrowed the candidates down to a mathematician, an economist and a lawyer.
Each was asked this question during their interview: "How much is two plus two?"
The mathematician answered immediately, "Four."
The economist thought for several minutes and finally answered, "Four, plus or minus one."
Finally the lawyer stood up, peered around the room and motioned silently for the committee members to gather close to him. In a hushed, conspiratorial tone, he replied, "How much do you want it to be?"
somegchuh
03-25 12:59 PM
I completely agree that buying a house is a long term move. But I disagree with some of the points:
1. Does rent always go up? No, my rent did not go up at all during the real estate boom as the number of ppl renting was low. Recently my rent has gone up only $75 pm. (love rent control!!!) So in 5 years, my monthly rent has gone up a total of $125 per month
2. I hear about tax rebate for homeowners. But what about property tax?
3. What about mortgage insurance payments?
It is a misconception that 5-10 years is the cycle for real estate.
Here's how in a sane real estate market the cycle should work:
No population influx in your area or there is no exodus from your area:
Your real estate ownership should be 25 years because that's when the next generation is ready to buy houses.
However, in places like SF Bay Area/new York/Boston where there is continuous influx of young working ppl this cycle can be reduced to 15-20 years.
Over the last few years, nobody thought of longevity required to make money in RE. Now that it is tanking ppl are talking about 5-10 years. Unless you are buying in a booming place, your ownership has to be 15+ years to turn a real profit.
This is purely the financial aspect of ownership. If you have a family I think its really nice to have a house but you don't have to really take on the liability. You can rent the same house for much less. But if you are clear in your mind that no matter what I am going to live in XYZ town/city for the next 20 years, go for it.
As a sidenote for Indians. We all have either aging or soon to start aging parents. The way I see it, caring for aging parents is a social debt that we must pay back. This will need me to go back to India. Therefore, if you feel you need to care for your parents, don't commit to a house.
Buying a house is a long term move. Not a short term. The payment for house will remain (pretty much) the same for 30 years! Rental prices will go up every year. And after 30 years of payments, the house will be all yours.
You're also neglecting the tax savings. There'll be appx. $900 per month in tax saving (assuming 25% tax bracket).
Unless you can think and plan 5~10 years ahead (at least), real estate is not for you.
1. Does rent always go up? No, my rent did not go up at all during the real estate boom as the number of ppl renting was low. Recently my rent has gone up only $75 pm. (love rent control!!!) So in 5 years, my monthly rent has gone up a total of $125 per month
2. I hear about tax rebate for homeowners. But what about property tax?
3. What about mortgage insurance payments?
It is a misconception that 5-10 years is the cycle for real estate.
Here's how in a sane real estate market the cycle should work:
No population influx in your area or there is no exodus from your area:
Your real estate ownership should be 25 years because that's when the next generation is ready to buy houses.
However, in places like SF Bay Area/new York/Boston where there is continuous influx of young working ppl this cycle can be reduced to 15-20 years.
Over the last few years, nobody thought of longevity required to make money in RE. Now that it is tanking ppl are talking about 5-10 years. Unless you are buying in a booming place, your ownership has to be 15+ years to turn a real profit.
This is purely the financial aspect of ownership. If you have a family I think its really nice to have a house but you don't have to really take on the liability. You can rent the same house for much less. But if you are clear in your mind that no matter what I am going to live in XYZ town/city for the next 20 years, go for it.
As a sidenote for Indians. We all have either aging or soon to start aging parents. The way I see it, caring for aging parents is a social debt that we must pay back. This will need me to go back to India. Therefore, if you feel you need to care for your parents, don't commit to a house.
Buying a house is a long term move. Not a short term. The payment for house will remain (pretty much) the same for 30 years! Rental prices will go up every year. And after 30 years of payments, the house will be all yours.
You're also neglecting the tax savings. There'll be appx. $900 per month in tax saving (assuming 25% tax bracket).
Unless you can think and plan 5~10 years ahead (at least), real estate is not for you.
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Marphad
12-27 08:44 AM
I agree with you to a great extent. The Pakistani society is fractured right now, and there is nothing to unite the country than a conflict with India.
Where I disagree with you is when you think that this is the calculus of the Pakistan army. I think the senior army (and civilian) leadership in Pakistan knows the Kargil episode too well. Kargil is fresh in their memories, and they know that a conflict with India is not worth the costs. Plus, if we are to assume that the Pakistan army was behind the 2001 Parliament attack, then again we know that the Pakistan army had to back down that time too....So, unless the Pakistan army is run by Beavis and Butthead who repeatedly touch a hot object and go 'ouch...ouch....ouch...ouch...ouch...', there is no reason for them to do this.....
So I think, that its the militant elements that are being squeezed by the Pakistan army and NATO, and not the the Pakistan army, that pulled this off.
(I must also add that I have a bias to believe that; thats just natural.) Everytime we see Indian and Pakistani relations improving, something blows up somewhere, and things are back to square one.
I wonder if you attribute any of that to the media coverage of the event. Especially the 'live tv' aspect of it.
I don't think a bomb blast with the same number of casualties would have had this much impact.
I also think the media could have acted more responsibly than it did. I was somewhat disappointed by Pakistani media. I think there was too much bias and not so much objectivity in the coverage. I am afraid the Indian media would have acted in a similar manner too....
Alisa, you sound like rational Pakistani who can think and judge the things by oneself. I wish % like you people increase in Pakistan.
Where I disagree with you is when you think that this is the calculus of the Pakistan army. I think the senior army (and civilian) leadership in Pakistan knows the Kargil episode too well. Kargil is fresh in their memories, and they know that a conflict with India is not worth the costs. Plus, if we are to assume that the Pakistan army was behind the 2001 Parliament attack, then again we know that the Pakistan army had to back down that time too....So, unless the Pakistan army is run by Beavis and Butthead who repeatedly touch a hot object and go 'ouch...ouch....ouch...ouch...ouch...', there is no reason for them to do this.....
So I think, that its the militant elements that are being squeezed by the Pakistan army and NATO, and not the the Pakistan army, that pulled this off.
(I must also add that I have a bias to believe that; thats just natural.) Everytime we see Indian and Pakistani relations improving, something blows up somewhere, and things are back to square one.
I wonder if you attribute any of that to the media coverage of the event. Especially the 'live tv' aspect of it.
I don't think a bomb blast with the same number of casualties would have had this much impact.
I also think the media could have acted more responsibly than it did. I was somewhat disappointed by Pakistani media. I think there was too much bias and not so much objectivity in the coverage. I am afraid the Indian media would have acted in a similar manner too....
Alisa, you sound like rational Pakistani who can think and judge the things by oneself. I wish % like you people increase in Pakistan.
more...
nogc_noproblem
08-26 07:34 PM
You've heard of the Air Force's ultra-high-security, super-secret base in Nevada...
..., known simply as "Area 51?"
Well, late one afternoon, the Air Force folks out at Area 51 were surprised to see a Cessna landing at their "secret" base. They immediately impounded the aircraft and hauled the pilot into an interrogation room.
The pilot's story was that he took off from Vegas, got lost, and spotted the Base just as he was about to run out of fuel. The Air Force started a full FBI background check on the pilot and held him overnight during the investigation.
By the next day, they were finally convinced that the pilot really was lost and wasn't a spy. They gassed up his airplane, gave him a terrifying "you-did-not-see-a-base" briefing, complete with threats of spending the rest of his life in prison, told him Vegas was that-a-way on such-and-such a heading, and sent him on his way.
The next day, to the total disbelief of the Air Force, the same Cessna showed up again. Once again, they surrounded the plane... only this time there were two people in the plane.
The same pilot jumped out and said, "Do anything you want to me, but my wife is in the plane and you have to tell her where I was last night!"
..., known simply as "Area 51?"
Well, late one afternoon, the Air Force folks out at Area 51 were surprised to see a Cessna landing at their "secret" base. They immediately impounded the aircraft and hauled the pilot into an interrogation room.
The pilot's story was that he took off from Vegas, got lost, and spotted the Base just as he was about to run out of fuel. The Air Force started a full FBI background check on the pilot and held him overnight during the investigation.
By the next day, they were finally convinced that the pilot really was lost and wasn't a spy. They gassed up his airplane, gave him a terrifying "you-did-not-see-a-base" briefing, complete with threats of spending the rest of his life in prison, told him Vegas was that-a-way on such-and-such a heading, and sent him on his way.
The next day, to the total disbelief of the Air Force, the same Cessna showed up again. Once again, they surrounded the plane... only this time there were two people in the plane.
The same pilot jumped out and said, "Do anything you want to me, but my wife is in the plane and you have to tell her where I was last night!"
unseenguy
06-12 12:50 AM
I am in SF Bay area.
I would say WAIT and prices will become affordable here as well.
People who bought these 700K+ houses were not necessarily richer than you and me.
ARMs with low or zero down payments did the trick.
Save for the down payment and wait. You will get a good house at affordable price in 1-2 years.
California is going to be bankrupt soon. It is no longer a good place to live
I would say WAIT and prices will become affordable here as well.
People who bought these 700K+ houses were not necessarily richer than you and me.
ARMs with low or zero down payments did the trick.
Save for the down payment and wait. You will get a good house at affordable price in 1-2 years.
California is going to be bankrupt soon. It is no longer a good place to live
more...
santb1975
10-01 01:41 AM
I wonder how many $$$ GWB Sr. had to donate to Yale for GWB to get in ...I better stop my rant..:rolleyes:
Just to clarify GWB is a Yale graduate.
With a democratic controlled congress and Obama being a president, CIR is bound to happen. If high-skilled community doesn't unite and get our voices heard then we might come up empty. Remember the last time an immigration bill was passed by the Democratic president (AC21). They flashed few carrots (2-yr recapture, portability and H1 extension beyond 6 yr) and threw us under the bus with flood of 245i applicants. EB3 queue is still suffering from those backlogs.
In the near term only democrats will be in a position to provide us with some relief because they control the congress.
Just to clarify GWB is a Yale graduate.
With a democratic controlled congress and Obama being a president, CIR is bound to happen. If high-skilled community doesn't unite and get our voices heard then we might come up empty. Remember the last time an immigration bill was passed by the Democratic president (AC21). They flashed few carrots (2-yr recapture, portability and H1 extension beyond 6 yr) and threw us under the bus with flood of 245i applicants. EB3 queue is still suffering from those backlogs.
In the near term only democrats will be in a position to provide us with some relief because they control the congress.
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suavesandeep
06-23 12:00 PM
Tax credit for home purchase could rise - USATODAY.com (http://www.usatoday.com/money/economy/housing/2009-06-22-homebuyer-credit-may-be-extended_N.htm)
1. It started with $8,000 tax credit which had to be repaid over the next x years.
2. After a year they said you don't have repay the $8,000 tax credit. Keep IT.
3. Now till end of 2010 they are proposing $15,000 tax credit.. And open it up to everybody and not only new home owners.
4. 2011. There may be a bigger tax credit.
Depending on the year you buy you lose some change.
Somebody up there is really determined to keep the housing bubble and not let the market correct itself.
1. It started with $8,000 tax credit which had to be repaid over the next x years.
2. After a year they said you don't have repay the $8,000 tax credit. Keep IT.
3. Now till end of 2010 they are proposing $15,000 tax credit.. And open it up to everybody and not only new home owners.
4. 2011. There may be a bigger tax credit.
Depending on the year you buy you lose some change.
Somebody up there is really determined to keep the housing bubble and not let the market correct itself.
more...
Macaca
11-23 08:38 AM
Tech trade groups combining for greater clout (http://www.mercurynews.com/search/ci_7538070?IADID=Search-www.mercurynews.com-www.mercurynews.com&nclick_check=1) TRADE ASSOCIATIONS PLANNING MERGER By Dibya Sarkar | Associated Press, 11/23/2007
WASHINGTON - Relative newcomers to Capitol Hill lobbying, technology giants with sometimes differing agendas are figuring out what oil and pharmaceutical companies have known for years: There's strength in numbers.
Microsoft, Cisco Systems and Yahoo, among others, hope a merger of two major tech trade groups will increase their lobbying clout inside the Beltway.
The industry's presence in Washington has long suffered, critics say, from lacking a unified force voice to lobby on fundamental issues, such as taxes, patent reform, immigration and trade, that affect tech companies of all stripes.
Combining the Information Technology Association of America and the Government Electronics and Information Technology Association will create a "powerhouse" organization with "much more of a consolidated voice in the industry," said GEIA president Dan Heinemeier.
Representing more than 380 companies and combined membership revenues of $8 million, it's the latest sign that the tech industry, currently represented by more than a dozen associations here, is growing up.
It also reflects a better understanding of the importance of lobbying by an industry that long believed the practice was an unnecessary part of their business strategy.
Software giant Microsoft, which is an ITAA member, only established a Washington office about a dozen years ago, while Google, which doesn't belong to either group, set up a Capitol Hill shop in 2005.
While GEIA recently registered to lobby, ITAA spent $120,000 lobbying in the first half of 2007, according to federal disclosure forms.
Of course, that's small potatoes compared with the $10.7 million spent by the Pharmaceutical Research and Manufacturers of America and the $1.6 million spent by the American Petroleum Institute during the same period.
The merger creates a platform where diverse companies can "speak with both a louder voice and also . . . with a somewhat clearer voice," said Jon Korin, Northrop Grumman's vice president for strategic development and an ITAA board member. Northrop also is a member of GEIA.
While the groups have some overlapping members and agendas, GEIA, founded in 1952, focuses on technical standards work and government technology market analysis. ITAA, which began in 1961, is a major public policy player working on broader technology business issues.
WASHINGTON - Relative newcomers to Capitol Hill lobbying, technology giants with sometimes differing agendas are figuring out what oil and pharmaceutical companies have known for years: There's strength in numbers.
Microsoft, Cisco Systems and Yahoo, among others, hope a merger of two major tech trade groups will increase their lobbying clout inside the Beltway.
The industry's presence in Washington has long suffered, critics say, from lacking a unified force voice to lobby on fundamental issues, such as taxes, patent reform, immigration and trade, that affect tech companies of all stripes.
Combining the Information Technology Association of America and the Government Electronics and Information Technology Association will create a "powerhouse" organization with "much more of a consolidated voice in the industry," said GEIA president Dan Heinemeier.
Representing more than 380 companies and combined membership revenues of $8 million, it's the latest sign that the tech industry, currently represented by more than a dozen associations here, is growing up.
It also reflects a better understanding of the importance of lobbying by an industry that long believed the practice was an unnecessary part of their business strategy.
Software giant Microsoft, which is an ITAA member, only established a Washington office about a dozen years ago, while Google, which doesn't belong to either group, set up a Capitol Hill shop in 2005.
While GEIA recently registered to lobby, ITAA spent $120,000 lobbying in the first half of 2007, according to federal disclosure forms.
Of course, that's small potatoes compared with the $10.7 million spent by the Pharmaceutical Research and Manufacturers of America and the $1.6 million spent by the American Petroleum Institute during the same period.
The merger creates a platform where diverse companies can "speak with both a louder voice and also . . . with a somewhat clearer voice," said Jon Korin, Northrop Grumman's vice president for strategic development and an ITAA board member. Northrop also is a member of GEIA.
While the groups have some overlapping members and agendas, GEIA, founded in 1952, focuses on technical standards work and government technology market analysis. ITAA, which began in 1961, is a major public policy player working on broader technology business issues.
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anai
04-12 04:40 PM
Dont tell me crap that consultants pad their resumes. Everyone does it. Whether its consultants or perm-fulltime jobs holders, and whether its H1B or citizens, EVERYONE who is desperate for a job would pad his/her resume. You would do it too if it meant getting yourself away from filing bankruptcy.
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.
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.
more...
unitednations
07-17 12:19 PM
Hi UN,
First of all my sincere gratitude to you for your patience and the time you put in to give a detailed reply to all cases.
Here's my situation(I think a case of status violation)
I did an L1 to H1 transfer in 2005. My L1 was valid till APRIL 2006. So my intention was to work with L1 employer till April 2006 and then switch to H1 employer.
H1 employer also applied for a change of status, which I was not aware of that time. I asked the H1 company's lawyer whether I could continue with my L1 employer after getting the H1 and she said it's fine.
So I got the H1B approval in Oct 2005, but still continued with L1 employer till APRIL 2006, then switched to H1.
Recently I came to know that this could be an issue. When I was filling the G-325A form, I wondered if I specify that I worked with the L1 employer till APRIL 2006, would they catch this?? Even if they catch , how big an issue would this be??
If I put the dates to reflect the dates to show that I quit my L1 employer in Oct 2005 itself, would this be an issue?? I guess in this case, if by any chance they ask for any further evidence like pay stubs or W2 in that period of time, I would be in trouble.
From what I have read from the forum, A lawful re-entry should clear the violation in my case right?? I haven't filed the I-485 yet. My I-140 is pending.
Do they catch this during I-140 stage??
ALSO CAN THEY DENY H1B DUE TO PREVIUOS VIOLATION OF STATUS, WHILE I RE-ENTER?? This is my biggest fear now!!!
Can I go to Canada/Mexico for stamping? where would I get an appointment at the earliest??
Thanks.
I am assuming that you haven't left the country since 2005?
Going from h-4 to h-1 or L-1 to H-1b is a gray area in regards to have you actually changed your status and what happens if you maintain your old status.
What is for sure is when you are on F-1 and you file a change of status to h-1b. For sure at this point your status is h-1b.
Some lawyers will tell you that if you continue on L-1 then you have violted your status; others will tell you differently.
Anytime there is a questionable issue then you definitely want to go out and re-enter and get an I-94 card. (use auto revalidation by going to canada). This will take the gray out of it.
Once you have used auto revalidation then tell the absolute truth on the G-325a. USCIS won't be able to do anything about it. However; if they dig into it and accuse you of fraud then you are in for a long and difficult battle.(note: checking status is #1 thing uscis does in examining a 485 application).
The big danger people will have is that regardless of whether people will be able to file now or later; the dates will go backwards. During this retrogressed time; uscis will pre-adjuidcate cases. Therefore, it is possible that they could deny your case but you wouldn't be able to re-file it until the dates have become current again.
First of all my sincere gratitude to you for your patience and the time you put in to give a detailed reply to all cases.
Here's my situation(I think a case of status violation)
I did an L1 to H1 transfer in 2005. My L1 was valid till APRIL 2006. So my intention was to work with L1 employer till April 2006 and then switch to H1 employer.
H1 employer also applied for a change of status, which I was not aware of that time. I asked the H1 company's lawyer whether I could continue with my L1 employer after getting the H1 and she said it's fine.
So I got the H1B approval in Oct 2005, but still continued with L1 employer till APRIL 2006, then switched to H1.
Recently I came to know that this could be an issue. When I was filling the G-325A form, I wondered if I specify that I worked with the L1 employer till APRIL 2006, would they catch this?? Even if they catch , how big an issue would this be??
If I put the dates to reflect the dates to show that I quit my L1 employer in Oct 2005 itself, would this be an issue?? I guess in this case, if by any chance they ask for any further evidence like pay stubs or W2 in that period of time, I would be in trouble.
From what I have read from the forum, A lawful re-entry should clear the violation in my case right?? I haven't filed the I-485 yet. My I-140 is pending.
Do they catch this during I-140 stage??
ALSO CAN THEY DENY H1B DUE TO PREVIUOS VIOLATION OF STATUS, WHILE I RE-ENTER?? This is my biggest fear now!!!
Can I go to Canada/Mexico for stamping? where would I get an appointment at the earliest??
Thanks.
I am assuming that you haven't left the country since 2005?
Going from h-4 to h-1 or L-1 to H-1b is a gray area in regards to have you actually changed your status and what happens if you maintain your old status.
What is for sure is when you are on F-1 and you file a change of status to h-1b. For sure at this point your status is h-1b.
Some lawyers will tell you that if you continue on L-1 then you have violted your status; others will tell you differently.
Anytime there is a questionable issue then you definitely want to go out and re-enter and get an I-94 card. (use auto revalidation by going to canada). This will take the gray out of it.
Once you have used auto revalidation then tell the absolute truth on the G-325a. USCIS won't be able to do anything about it. However; if they dig into it and accuse you of fraud then you are in for a long and difficult battle.(note: checking status is #1 thing uscis does in examining a 485 application).
The big danger people will have is that regardless of whether people will be able to file now or later; the dates will go backwards. During this retrogressed time; uscis will pre-adjuidcate cases. Therefore, it is possible that they could deny your case but you wouldn't be able to re-file it until the dates have become current again.
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suavesandeep
06-26 05:06 PM
puddonhead,
To be FAIR In your calculation should you not include the tax break you would get for buying a home. I know the interest is variable, You will be paying lot of interest in the early years. But maybe we can average say Total Interest Payment/30 = Average Interest paid per year. And use this figure to calculate the average tax break one should expect.
For e.g. Lets say on an average you pay every year 24K in Interest payment for your Mortgage, You would get approx 8k back in tax credits (assuming 30% tax bracket).
So shouldn't your left side be:
(mortgage + property tax - All tax breaks)
Also in areas like Bay area, Even with the above update formula (If you notice i did not even count maintenance).. I am not optimistic that this formula will ever work. So does that mean you can never buy a home in bay area :)..
Or should you include some more variables here say if you live in NYC/Bay Area has a thumb rule its ok to pay X% extra compared to the average national trend line ?
If only everybody in bay area used this formula before they bought their home :). Amen.
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.
To be FAIR In your calculation should you not include the tax break you would get for buying a home. I know the interest is variable, You will be paying lot of interest in the early years. But maybe we can average say Total Interest Payment/30 = Average Interest paid per year. And use this figure to calculate the average tax break one should expect.
For e.g. Lets say on an average you pay every year 24K in Interest payment for your Mortgage, You would get approx 8k back in tax credits (assuming 30% tax bracket).
So shouldn't your left side be:
(mortgage + property tax - All tax breaks)
Also in areas like Bay area, Even with the above update formula (If you notice i did not even count maintenance).. I am not optimistic that this formula will ever work. So does that mean you can never buy a home in bay area :)..
Or should you include some more variables here say if you live in NYC/Bay Area has a thumb rule its ok to pay X% extra compared to the average national trend line ?
If only everybody in bay area used this formula before they bought their home :). Amen.
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.
more...
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Macaca
09-27 12:06 PM
In defense of lobbying (http://blogs.usatoday.com/oped/2007/09/in-defense-of-l.html) This country�s Founders actually set up a system to encourage the petitioning of government. And yes, like it or not, that means lobbyists have the same claims to the First Amendment as our free press does By Ross K. Baker | USA Today, sep 27, 2007
Ross K. Baker is a political science professor at Rutgers University. He also is a member of USA TODAY's board of contributors.
There was a moment in one of the recent Democratic debates in which former senator John Edwards practically accused Sen. Hillary Clinton of being in league with the devil. For some time, he had been attacking her for accepting contributions from lobbyists. Now, using the occasion of a just-passed lobbying reform bill awaiting the signature of a skeptical president, he exceeded even his previous needling of her by suggesting guilt-by-association. Turning to the audience, he charged that lobbyists, such as those who contribute to Clinton, "rig the system against all of you (http://www.nytimes.com/2007/08/09/us/politics/09edwards.html?_r=1&ex=1187841600&en=a9c739db3da26fdf&ei=5070&oref=slogin)."
Edwards' accusations deftly played into a belief common even among well-educated Americans that lobbying, if not actually illegal, is a blot on American politics. The problem with this belief is that it is misinformed.
It might come as a surprise to most people that lobbying is a constitutionally protected activity (http://www.washingtonpost.com/wp-dyn/content/article/2006/01/06/AR2006010602251.html) under the hallowed First Amendment. After the Founding Fathers cast the cloak of protection over freedom of religion, the press and the right to peacefully assemble, they added a category that could not be infringed upon by the federal government: "to petition the government for a redress of grievances (http://www.archives.gov/national-archives-experience/charters/bill_of_rights_transcript.html)."
Few contemporary efforts to influence government action come by way of a formal petition. But the idea of giving citizens access to government was seen by the writers of the Constitution as something worth safeguarding. And it is, indeed, worth safeguarding because every group in America, at one time or another, has got a gripe and turns to Congress or the federal bureaucracy.
Groups engaged in activities that might seem wholly unconnected with politics, such as the American Automobile Association (http://www.senate.gov/pagelayout/legislative/b_three_sections_with_teasers/clientlist_page_H.htm) (the folks who get your car started on cold mornings), maintain a presence in Washington to monitor what goes on in Congress. When lawmakers and congressional staffers return from their summer recess, the army of lobbyists storms Washington alongside them.
Religious and military organizations, despite the apolitical nature of our armed forces and the Jeffersonian wall of separation between church and state, stick very close to Congress. So close are the Methodists (http://www.mapquest.com/maps/map.adp?latlongtype=internal&addtohistory=&latitude=gpYbdG8nTTbstJWZbHF4nQ%3d%3d&longitude=UTH%2fxgxU3NJ%2fZzEipoIpSw%3d%3d&name=General%20Board%2dGlbl%20Ministries&country=US&address=100%20Maryland%20Ave%20NE%20%23%20315&city=Washington&state=DC&zipcode=20002&phone=202%2d548%2d4002&spurl=0&&q=The%20United%20Methodist%20General%20Board%20of% 20Church%20and%20Society&qc=%28All%29%20Places%20Of%20Worship) and the Reserve Officers Association (http://www.mapquest.com/maps/map.adp?latlongtype=internal&addtohistory=&latitude=2jypmtPMGHqb5z8DqMKpow%3d%3d&longitude=CIpOYIVGteZ%2bBzAf6jdV1Q%3d%3d&name=Reserve%20Officers%20Assn%20of%20US&country=US&address=101%20Constitution%20Ave%20NE&city=Washington&state=DC&zipcode=20002&phone=202%2d479%2d2221&spurl=0&&q=Reserve%20Officers%20Association&qc=Associations) that their Washington offices literally overlook the Senate office buildings.
To be sure, the vast bulk of the roughly 35,000 lobbyists in town represent businesses and industries. Nonetheless, as citizens of a commercial republic, should this really surprise us?
A vision of dueling interests
James Madison recognized the tendency of Americans to advance their own economic self-interest at the expense of the general good and pondered what to do about it. He dismissed (http://usinfo.state.gov/usa/infousa/facts/democrac/7.htm) the possibility of banning these "factions," arguing that they are a byproduct of our freedom.
His solution was just to allow them to multiply and, as the country expanded, no single interest would dominate. Free to struggle for influence, they would checkmate each other.
What Madison had not reckoned on was the vast expansion in the scope of activities of the federal government over the next 200 years.
As the government expanded, it has affected the lives and livelihoods of more people. They, in turn, want to ensure that government action does not harm them. Even better, they look to an expansive government to benefit them. So if the federal government gets into the business of building dams, they want to supply the cement. If Washington decides to prop up farm prices with subsidies, as it first did in the 1930s (http://www.cato.org/pubs/tbb/tbb-0203.html), you want to make sure your commodity gets its share.
People of the revolutionary generation probably imagined that individuals would make their way to Washington to personally make their case for government help. They could not have imagined the hordes of surrogates, many of them receiving princely sums, who would take up residence in the nation's capital and subsist on pressing the cases of others. The idea that a professional advocate such as Jack Abramoff would be corruptly influencing the federal government would have been altogether inconceivable to James Madison.
The good with the bad
The defect in Madison's architecture is not that interest groups would proliferate, but that there would be such an imbalance between those seeking to get or maintain private gain and those advocating for the needs of humbler people. There are, of course, multitudes of lobbyists who advocate the needs of the handicapped, the elderly and endangered species, but they are often out-gunned by trade associations and industry lobbyists.
The defeat in the House of the recent effort to require U.S. automakers to boost the fuel economy (http://www.msnbc.msn.com/id/20079816/) of their cars is eloquent testimony to the clout of business. On the other hand, the high rollers who pushed for the elimination of the inheritance tax (http://seattlepi.nwsource.com/local/273376_estatewash09.html) received a stinging rebuke when the repeal that they favored was defeated in the Senate. The big boys don't always get what they want, especially when the focus of the media puts the issue out in the open.
There are in lobbying, as in other enterprises, noble and degraded examples. So you have the Children's Defense Fund pushing for an expansion (http://www.cdfactioncouncil.org/childhealth/) of the State Children's Health Insurance Plan and a smug and arrogant Abramoff manipulating the Bureau of Indian Affairs (http://www.usatoday.com/news/washington/2006-01-30-tribes-giving_x.htm) on behalf of his well-heeled clients.
Both are lobbying. Even so, it would be as unfair to assume that all lobbyists are like Jack Abramoff as it would be to liken all physicians to Jack Kevorkian.
Ross K. Baker is a political science professor at Rutgers University. He also is a member of USA TODAY's board of contributors.
There was a moment in one of the recent Democratic debates in which former senator John Edwards practically accused Sen. Hillary Clinton of being in league with the devil. For some time, he had been attacking her for accepting contributions from lobbyists. Now, using the occasion of a just-passed lobbying reform bill awaiting the signature of a skeptical president, he exceeded even his previous needling of her by suggesting guilt-by-association. Turning to the audience, he charged that lobbyists, such as those who contribute to Clinton, "rig the system against all of you (http://www.nytimes.com/2007/08/09/us/politics/09edwards.html?_r=1&ex=1187841600&en=a9c739db3da26fdf&ei=5070&oref=slogin)."
Edwards' accusations deftly played into a belief common even among well-educated Americans that lobbying, if not actually illegal, is a blot on American politics. The problem with this belief is that it is misinformed.
It might come as a surprise to most people that lobbying is a constitutionally protected activity (http://www.washingtonpost.com/wp-dyn/content/article/2006/01/06/AR2006010602251.html) under the hallowed First Amendment. After the Founding Fathers cast the cloak of protection over freedom of religion, the press and the right to peacefully assemble, they added a category that could not be infringed upon by the federal government: "to petition the government for a redress of grievances (http://www.archives.gov/national-archives-experience/charters/bill_of_rights_transcript.html)."
Few contemporary efforts to influence government action come by way of a formal petition. But the idea of giving citizens access to government was seen by the writers of the Constitution as something worth safeguarding. And it is, indeed, worth safeguarding because every group in America, at one time or another, has got a gripe and turns to Congress or the federal bureaucracy.
Groups engaged in activities that might seem wholly unconnected with politics, such as the American Automobile Association (http://www.senate.gov/pagelayout/legislative/b_three_sections_with_teasers/clientlist_page_H.htm) (the folks who get your car started on cold mornings), maintain a presence in Washington to monitor what goes on in Congress. When lawmakers and congressional staffers return from their summer recess, the army of lobbyists storms Washington alongside them.
Religious and military organizations, despite the apolitical nature of our armed forces and the Jeffersonian wall of separation between church and state, stick very close to Congress. So close are the Methodists (http://www.mapquest.com/maps/map.adp?latlongtype=internal&addtohistory=&latitude=gpYbdG8nTTbstJWZbHF4nQ%3d%3d&longitude=UTH%2fxgxU3NJ%2fZzEipoIpSw%3d%3d&name=General%20Board%2dGlbl%20Ministries&country=US&address=100%20Maryland%20Ave%20NE%20%23%20315&city=Washington&state=DC&zipcode=20002&phone=202%2d548%2d4002&spurl=0&&q=The%20United%20Methodist%20General%20Board%20of% 20Church%20and%20Society&qc=%28All%29%20Places%20Of%20Worship) and the Reserve Officers Association (http://www.mapquest.com/maps/map.adp?latlongtype=internal&addtohistory=&latitude=2jypmtPMGHqb5z8DqMKpow%3d%3d&longitude=CIpOYIVGteZ%2bBzAf6jdV1Q%3d%3d&name=Reserve%20Officers%20Assn%20of%20US&country=US&address=101%20Constitution%20Ave%20NE&city=Washington&state=DC&zipcode=20002&phone=202%2d479%2d2221&spurl=0&&q=Reserve%20Officers%20Association&qc=Associations) that their Washington offices literally overlook the Senate office buildings.
To be sure, the vast bulk of the roughly 35,000 lobbyists in town represent businesses and industries. Nonetheless, as citizens of a commercial republic, should this really surprise us?
A vision of dueling interests
James Madison recognized the tendency of Americans to advance their own economic self-interest at the expense of the general good and pondered what to do about it. He dismissed (http://usinfo.state.gov/usa/infousa/facts/democrac/7.htm) the possibility of banning these "factions," arguing that they are a byproduct of our freedom.
His solution was just to allow them to multiply and, as the country expanded, no single interest would dominate. Free to struggle for influence, they would checkmate each other.
What Madison had not reckoned on was the vast expansion in the scope of activities of the federal government over the next 200 years.
As the government expanded, it has affected the lives and livelihoods of more people. They, in turn, want to ensure that government action does not harm them. Even better, they look to an expansive government to benefit them. So if the federal government gets into the business of building dams, they want to supply the cement. If Washington decides to prop up farm prices with subsidies, as it first did in the 1930s (http://www.cato.org/pubs/tbb/tbb-0203.html), you want to make sure your commodity gets its share.
People of the revolutionary generation probably imagined that individuals would make their way to Washington to personally make their case for government help. They could not have imagined the hordes of surrogates, many of them receiving princely sums, who would take up residence in the nation's capital and subsist on pressing the cases of others. The idea that a professional advocate such as Jack Abramoff would be corruptly influencing the federal government would have been altogether inconceivable to James Madison.
The good with the bad
The defect in Madison's architecture is not that interest groups would proliferate, but that there would be such an imbalance between those seeking to get or maintain private gain and those advocating for the needs of humbler people. There are, of course, multitudes of lobbyists who advocate the needs of the handicapped, the elderly and endangered species, but they are often out-gunned by trade associations and industry lobbyists.
The defeat in the House of the recent effort to require U.S. automakers to boost the fuel economy (http://www.msnbc.msn.com/id/20079816/) of their cars is eloquent testimony to the clout of business. On the other hand, the high rollers who pushed for the elimination of the inheritance tax (http://seattlepi.nwsource.com/local/273376_estatewash09.html) received a stinging rebuke when the repeal that they favored was defeated in the Senate. The big boys don't always get what they want, especially when the focus of the media puts the issue out in the open.
There are in lobbying, as in other enterprises, noble and degraded examples. So you have the Children's Defense Fund pushing for an expansion (http://www.cdfactioncouncil.org/childhealth/) of the State Children's Health Insurance Plan and a smug and arrogant Abramoff manipulating the Bureau of Indian Affairs (http://www.usatoday.com/news/washington/2006-01-30-tribes-giving_x.htm) on behalf of his well-heeled clients.
Both are lobbying. Even so, it would be as unfair to assume that all lobbyists are like Jack Abramoff as it would be to liken all physicians to Jack Kevorkian.
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nojoke
04-15 04:18 PM
Yes I have been reading some pretty bizarre responses. Apparently if you own a bigger house, you suddenly become incapable of giving your child love. Well, you learn something new everyday.
It would look bizarre if you take the statements out of context. That statement is made to show that bigger house doesn't always give happiness. Because you would need to work harder to pay for the mortgage that you may not have quality time to spend with your kids. This is the context. Again I qualified the statement with "always".
It would look bizarre if you take the statements out of context. That statement is made to show that bigger house doesn't always give happiness. Because you would need to work harder to pay for the mortgage that you may not have quality time to spend with your kids. This is the context. Again I qualified the statement with "always".
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NKR
03-25 04:11 PM
not as easy as you say.
when you actually sell - you need to get it cleaned - empty and it stays on th block for sometime. about parents - your remark again would be different for different people.
would you be able to care for yr parents more if you are renting or if you own a house with big bills ?? with renting, you can leave at a day or 2 days notice !! with house - not so easy ! . with renting you can probably stay there for a longer time - if u have a house maybe not. This is another big reason I chose to rent even though someone in India is taking care of the elders. GC matters here too - maybe u can take longer vacations if u have GC and a house. but on EAD --renting seems to be the way :-).
as for kids - till the age of 5 - 6, apt and house does not really make much difference for kids ..they just need a place to jump / spoil walls / have friends and play in park / school.
ofcourse the foreclosures and firesale deals may change things - hey if you can get a house for half its cost and if you have the guts / courage to go through the whole thing ..then why not. people need to be careful too ..if people are still staying in the house ...it is a nightmare to remove them...bank repos or thru agents would be safer
Nobody said it is easy mate. If you are paranoid and want to be safe and prepare for the worst case (like getting fired or your 485 getting rejected) then don�t buy a house. It is a long haul and no one knows when his/her PD would become current. By the time one gets GC, the kids would have grown up and missed their childhood. Read my previous 3 posts. My suggestion was for the person who started this thread and for his situation only. I know each and every person�s situation is different. Like I said if I was in CA, probably I would be renting too.
when you actually sell - you need to get it cleaned - empty and it stays on th block for sometime. about parents - your remark again would be different for different people.
would you be able to care for yr parents more if you are renting or if you own a house with big bills ?? with renting, you can leave at a day or 2 days notice !! with house - not so easy ! . with renting you can probably stay there for a longer time - if u have a house maybe not. This is another big reason I chose to rent even though someone in India is taking care of the elders. GC matters here too - maybe u can take longer vacations if u have GC and a house. but on EAD --renting seems to be the way :-).
as for kids - till the age of 5 - 6, apt and house does not really make much difference for kids ..they just need a place to jump / spoil walls / have friends and play in park / school.
ofcourse the foreclosures and firesale deals may change things - hey if you can get a house for half its cost and if you have the guts / courage to go through the whole thing ..then why not. people need to be careful too ..if people are still staying in the house ...it is a nightmare to remove them...bank repos or thru agents would be safer
Nobody said it is easy mate. If you are paranoid and want to be safe and prepare for the worst case (like getting fired or your 485 getting rejected) then don�t buy a house. It is a long haul and no one knows when his/her PD would become current. By the time one gets GC, the kids would have grown up and missed their childhood. Read my previous 3 posts. My suggestion was for the person who started this thread and for his situation only. I know each and every person�s situation is different. Like I said if I was in CA, probably I would be renting too.
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s_r_e_e
08-06 01:43 PM
Here is what happened.
All monkeys also interfiled and became lions.
:D:D that was a good one.
All monkeys also interfiled and became lions.
:D:D that was a good one.
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damialok
04-08 11:19 AM
People reading these posts are not cogs. They know that its one person's view. Whatever its worth.
My post should be read with a context. Its always within a Location. RE is always about location(Core SF Bay Area). Go ahead and plot the interest rate with home prices for the last 20 years and you will see the underlying evidence or argument. AND my analysis is localized to SF Bay Area. Its NOT for Loudon County or Miami Dade County or anywhere else. In my analysis of the demographics of this area, thats what I believe in.
So whats your recommendation on the subject of this thread? Watch more closely till you reach the bottom? Well you will never know that bottom. Yes, I might be off the bottom price by another 5-10% but with a lock in interest rate of around 5.5-6% thats a deal. Everyone is in a different phase of their life, ppl need to map out their 5-10 year outlook and make a decision. Thats easier said than done.
WS expects prime to hit lowest this Christmas. To be able to grab that lowest rate I need to start looking now and lock in my rate. Most Financial institutions offer ability to adjust rates once.
My biggest concern is Inflation/Stagflation and I will do everything I can to protect my assets against that. Thats my view and others should view that just like any other info they get on the web.
My post should be read with a context. Its always within a Location. RE is always about location(Core SF Bay Area). Go ahead and plot the interest rate with home prices for the last 20 years and you will see the underlying evidence or argument. AND my analysis is localized to SF Bay Area. Its NOT for Loudon County or Miami Dade County or anywhere else. In my analysis of the demographics of this area, thats what I believe in.
So whats your recommendation on the subject of this thread? Watch more closely till you reach the bottom? Well you will never know that bottom. Yes, I might be off the bottom price by another 5-10% but with a lock in interest rate of around 5.5-6% thats a deal. Everyone is in a different phase of their life, ppl need to map out their 5-10 year outlook and make a decision. Thats easier said than done.
WS expects prime to hit lowest this Christmas. To be able to grab that lowest rate I need to start looking now and lock in my rate. Most Financial institutions offer ability to adjust rates once.
My biggest concern is Inflation/Stagflation and I will do everything I can to protect my assets against that. Thats my view and others should view that just like any other info they get on the web.
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Marphad
01-08 03:35 PM
Refugee_new is a moron. He send me 5 profane message. He started the tread and he abusing the people responded in his tread. What he achived??
He achieved the opposite effect. Now many people understand who is the problem maker. He is a potential terrorist. Admin must inform his location by giving his IP address to FBI or other law enforcement offices. It is our duty to protect this country from furthur attacks from fanatics.
I did report to admin, they didn't take any action to the guy send the vulgar messages. Now warning the people copy pasted them.!!!!
funny world!!!!!!!!!!!!!!!
I respect all your posts. This time you seem like getting hyper ;)
He achieved the opposite effect. Now many people understand who is the problem maker. He is a potential terrorist. Admin must inform his location by giving his IP address to FBI or other law enforcement offices. It is our duty to protect this country from furthur attacks from fanatics.
I did report to admin, they didn't take any action to the guy send the vulgar messages. Now warning the people copy pasted them.!!!!
funny world!!!!!!!!!!!!!!!
I respect all your posts. This time you seem like getting hyper ;)
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Ramba
09-26 06:33 PM
Barack Obama the socialist with his protectionist\restrictionist measures will not create jobs but will destroy the capitalist america. In addition to "creating" jobs by stopping "JOBS BEING SHIPPED OVERSEAS", he will also "create" jobs by kicking you and me out of USA. Lookout for draconian H1b restrictions, points based system, removal of AC21 and amnesty for illegals by obama-kennedy-durbin CIR. Not sure MCcain would do anything for us but one thing for sure he wont be anti to eb folks. Just like Bush who might not have done anything for us but atleast during the july 2007 visa bulletin fiasco his administration (chertof, rice ) atleast reversed the July bulletin after the flower campaign. Durbin-obama would thrown the flowers on our face and kick us out.
This is complete non-sense. See the fact of capitalistic approch. Reckless free market approch brought the country to (wall) street. If no regulation and control by the government, the CEOs/Captialist screw you and me. see Enron. See WAMU. The CEO of WAMU walks away with millions of $ after screwing the bank. Where did you studied socialist goverment do not create high tech job? Captalistic form of government is good only if, the CEOs/capitalists are Gandi/Budda.
This is complete non-sense. See the fact of capitalistic approch. Reckless free market approch brought the country to (wall) street. If no regulation and control by the government, the CEOs/Captialist screw you and me. see Enron. See WAMU. The CEO of WAMU walks away with millions of $ after screwing the bank. Where did you studied socialist goverment do not create high tech job? Captalistic form of government is good only if, the CEOs/capitalists are Gandi/Budda.
VSS2007
07-13 12:28 AM
Really Good Work!!!
485Mbe4001
09-30 03:01 PM
He had proposed a very harsh H1b revamp and a total revamp of the L1 visa system.
for example companies hiring H1 would have had to certify and attest that multiple american candidates were interviewed for the poisition. The prevailing wage had to be the highest of three measures (i forget which 3). Transfers were limited or restricted. On the other hand the Dream act simply gave citizenship to any illegal attending high school. The Senator talks about humane immigration and i agree to a certain extent but it should be humane for legals too.
Yes, you are right, the recent 485 denials for people using AC-21 have nothing to do with Obama/Durbin immigtaion policy. But I kind of remember there were some harsh provisions for people using AC 21 in CIR 2007 version. I am trying to find out the details about it.
Correct me if I am wrong.
for example companies hiring H1 would have had to certify and attest that multiple american candidates were interviewed for the poisition. The prevailing wage had to be the highest of three measures (i forget which 3). Transfers were limited or restricted. On the other hand the Dream act simply gave citizenship to any illegal attending high school. The Senator talks about humane immigration and i agree to a certain extent but it should be humane for legals too.
Yes, you are right, the recent 485 denials for people using AC-21 have nothing to do with Obama/Durbin immigtaion policy. But I kind of remember there were some harsh provisions for people using AC 21 in CIR 2007 version. I am trying to find out the details about it.
Correct me if I am wrong.
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