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  • indianindian2006
    08-02 02:21 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.




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  • CantLeaveAmerica
    03-25 01:59 AM
    If you want to buy a home after you get your green card, mostly you will get after your retirement.

    I don't want to feel "my home" when I am 68 and after my kids are out on their own. So I decided, dump the H1B, H4, 485, 131, 761, 797, 999, 888, I94, EAD, AP... AAD, CCD etc crap in trash, and bought the home.

    I am happy. Even if I am asked to leave the country tomorrow, I just lock the door, throw the keys in trash and take off.

    Who cares when life matters.

    Awesome piece of advice..I've got to meet ya!!




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  • abcdgc
    12-27 01:06 AM
    Well...
    Thats a bit like asking one's father to explain the actions of Josef Fritzl.

    Why are you so obsessed with Jews? No reason to go in circles trying to obfuscate the subject.

    Are you not from Pakistan? Why are you asking others to explain the reason why Pakistani Prime Minister/Foreign Minster and ISI is doing what they are doing? Shouldn't you be the one to explain why they are doing all this drama? Why are you asking others to explain why your country is behaving erratically?




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  • Arjun
    07-14 08:42 PM
    Still better abolish Eb1/ Eb2/ Eb3 when there is no EBx in H1 then why EBx in GC? come on guys stratification on EB is reality along with preference order set by CIS. What is stopping eb3 guys from moving to eb2?

    you know what it takes to do that. Just think, if you were in eb3 and had applied in 2001 and now suggested to start all over again. It is very easy to say go change your category.



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  • texcan
    08-05 04:05 PM
    Sorry , you can't hide your passive aggressiveness :)
    AS I mentioned on other occasions this whole process is screwed up. it gets you worked up when some one compares this (PD recapture) to labor selling. IT IS NOT.

    To answer what does one get by comparing the job duties : It gives a lot. It gives EB2 classification only to those who deserve it. I wish the rules are much stricter.So that those who can claim they are EB2 are really entitled to be EB2.

    There is so much dirty laundry and not good to bring that in public. But if this law suite goes , it does not take very long to show how genuine some EB2s are.

    I agree, I am no saint, i have my shortcomings; actually more than i would like.
    My point is please listen to others folks, and be nice.
    We really cant get anything done hereby arguing.




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  • seattleGC
    05-16 05:18 PM
    That's called pandering. To unions like IEEE and hispanic vote base. These ppl don't have any interest in America's competitiveness or interests of people at large rather work in the interests of their party and their re-election.

    But I am suprised at the attitudes of some forums members who want to screw the ppl behind us.
    Anyway I agree, we should be worried about delays to i-485 processing if 11 million ppl are added to USCIS queue.


    I know where Senator Durbin stands on illegal immigration issue , he is totally for amnesty/legalization of illegal/undocumented people in the country. According to him its ok if someone is totally undocumented and stays here but its not ok if someone does consulting and documented and pays taxes while working and waiting for the green card to be approved. Isn't it height of hypocrosy?

    Where do people like mbdriver and senthil stand on the issue of legalization/amnesty for illegal/undocumented people in the country? If the legalization were to happen these are the kind of people who complain saying illegal aliens have slowed down our green card petetions. If legalization were to happen processing of every petetion at USCIS will slow down considerably. I will not surprised if 485 takes 4.85 years or 48.5 years or 485 years ...:)

    Which one is a bigger problem 12 to 15 million people totally undocumented or perceived misuse of visa petetions by few bad apples.



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  • mariner5555
    03-26 03:34 PM
    I am still confused about the whole GC issue in buying and selling a home. Why is GC an issue in owing property or even taking overseas vacations? I have done both with absolutely no issues-caribbeans, europe, India. I have owned a home, and then decided to change jobs-move to a different city and sell my house. Heck I sold my house when I was on vacation in India. I did everything by phone and fax, and this is not some few years ago, this is 2 months ago.
    I totally agree with the fact that location and the condition of the house being the key factors. Maybe the fact that I have been here for a few years makes me resident alien for tax purposes helped me? I am not entirely sure.
    Folks mentioned that what if you lose your job, and have to leave the country etc. But like I mentioned a house can be sold from abroad. And if you have a GC and you lose ur job, how will you make mortgage payments etc. So some problems will stay the same.
    Any thoughts/comments on my dilema?
    Perhaps someone can elaborate on why GC is a factor?
    Cheers.
    it depends on a persons risk amount - I guess. where did you sell yr house --was it for a loss ? maybe you are lucky to have sold it in last 2 months or something is not correct here.
    you can sell the house from abroad - but what if it does nt find a buyer for 6 months ..how do you make the mortgage payments.
    for me GC is important - for one - I don't have to worry about status / DHS .
    getting a job on GC is easier than on a EAD (u see some threads here already). on GC you can get a job is another field / part - time..without worrying about DHS / DL ..from abroad, I guess you give everything to a RE agent ..I can come up with tons of issues with it (but I know you will come up with counter explanations - so I won't bother). BTW I hope you are not a realtor right ?? some of desperate realtors do anything to convince people nowadays ..the latest I heard was telling me to buy before Hillary comes to white house ..with a mumbo jumbo explanation




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  • gc_check
    04-08 06:45 PM
    Hi pitha,

    Thanks for posting this info. Could you please share the source of this information?

    None of us should take this bill lightly. There is a saying - "one should never watch sausage or law being made". The guys who vote on the bills, in most instances, don't actually know what they are voting on. Most lawmakers may vote in favor of this bill as the anti-lobby is warpping this bill around a message "this bill is to enhance protections for American workers, so are you going to vote against American workers?" As such most lawmakers could vote in favor of this bill. The current environment is very dangerous where most people watch news in the sound-bites and half of the Senate is running for President. In such an environment, if you ask Obama, Hilary, Dodd, McCain etc., they are all likely to vote in favor of this bill, without going into the nuances and actual implications of this bill. None of these guys would want to be headlines saying something like �Obama is against American Works�. No one will actually care to look at the long term implication of such a bill whereby most of the IT jobs will be outsourced.

    From tomorrow, we should all email and inform everybody that we can, including our employers. What is the direction from IV core? We are all waiting for the matching orders��.

    There was some discussion about H1B Program in CNN's Lou Dobbs program today and not surprised, as usual it was all against H1B... He had people form Programmers Guild speak and they mentioned about this Durbin-Grassley Bill and he also mentioned that in the house a similar Bill will be introduced by Congressman Bill Pascrell.
    http://www.pascrell.house.gov/
    Looks like, the Anit-Immigration / Anti- H1B/L1 are executing an already well planned strategy. We need to do something on this� else as someone wrote in some forum; this will be a slow-bleed and will eventually kill the h1b program. Now or never, we need to join hands and have to do what is possible to assist the core and ourselves.



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  • pappu
    06-07 12:06 PM
    There is some excellent information on this thread. Pls add it on http://immigrationvoice.org/wiki/index.php?title=Buying_a_house_in_USA&action=edit

    as well
    http://immigrationvoice.org/wiki/index.php/Immigration_to_US
    There are some new Miscellaneous topics created in the wiki. Please help us by adding content in those titles as well so that this valuable information helps everyone. Do add links to relevant IV threads wherever possible.




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  • krishna.ahd
    01-07 07:00 PM
    cooooool
    What a relief from these immigration issues

    Calm down guys , pleeeeeeeeeeeeeeaaaaaaaaaaaaaassssssssssssssseeeee eeeeeeeeee



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  • desi3933
    07-12 10:33 AM
    My employer back in 2001 and 2002 did not pay me in a consistent way..I was paid once in every three months during the time I was in bench. I have the W2 returns from those two years which shows average income of only 29K. However I had valid visa status and h1b approval from my employer as well as employment verification letter from them. Now i am with a new employer since 2003 and do not have any problems with them and get paid regularly. After reading manub's post I am also worried if my I485 will be denied whenever I apply for it... or is there somethings I can take care of before? It is not my fault that the employer did not pay me consistently - right?

    There are some serious issues here.

    You got 29k salary for 2 years and still maintain that you had valid status for these 2 years.

    I suggest you consult a good attorney.

    ______________________________
    Not a legal advice.




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  • gc_in_30_yrs
    01-29 09:48 PM
    Here is a link to a Video report from CNN's program Lou Dobbs tonight regarding USCIS incorrect approval of H1-B petitions beyond the 65,000 yearly limit.


    (http://www.forthecause.us/ftc-video-CNN-VisaCapsIgnored_070126.wmv)

    http://www.forthecause.us/ftc-video-CNN-VisaCapsIgnored_070126.wmv

    i think these numbers include H1B transfers from one company to other, and H1B extensions beyond first 3 years term or the further extentions based on labor pending, I-140 cleared etc. etc.

    This guy looks genuine in what he believes, but he is missing the important piece of information. American people are not dumb as they look, they have little brians to understand. USCIS obviously can not approve more than 85K of applications.

    Ofcourse even though it is said Visas Issued (i.e., permanent residence) but in the video they were showing H1B applications :)

    in any case, we should ignore this guy as a whole.

    Next thing, we should never spend lots of time or create any further threads. It gives them courage if we spend time on their issues.



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  • vroapp
    04-12 03:05 PM
    agree.




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  • dealsnet
    01-07 02:31 PM
    You say romans converted egyptions to christianity. If it is true, romans follow catholic church. Coptic is Othodox christians, started during the period of apostole (AROUND AD 30-50). Romans may ruled them, but every one is coptic. Not changed the religion by force. You contradit your statement.
    Mohamed copy bible and make his own version and misled the people. It is like a cult. Like Mormon in USA. It is written in the bible. 'Those who change any word from the bible will be punished'. Mohamed's fate decided by God.
    I guess you meant 700 AD not 1100 AD.
    Here's a something along your train of thought.. before 300 AD all egyptians worshipped the sun god "Ra" until a Roman emperor converted to Christianity and made it the official religion, he still persecuted christian egyptians because the coptic version of christianity differed from his.
    Ra worshippers are the only true egyptians.. any idea where i can find them?
    cheers.



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  • xyzgc
    12-24 02:19 PM
    Ghazni's best-kept secret - The Indian Express
    S.C. Sharma ()
    April 25, 1998

    Title: Ghazni's best-kept secret
    Author: S.C. Sharma
    Publication: The Indian Express
    Date: April 25, 1998

    Provocative Ghauri was the title of an editorial that appeared
    on this page earlier this month. Pakistan has named its missiles
    Ghauri and Ghaznavi with the specific intention of taunting
    India. These worthies' claims to fame and glorification, in the
    perception of the Pakistanis, lies in the fact that they were
    credited with plundering and devastating north-western India time
    and time again in the eleventh and twelfth centuries.

    In their enthusiasm to score brownie points, the Pakistanis have
    got mixed up on chronology, they have produced Ghauri before
    Ghaznavi. Also, they have perversely sought to commemorate these
    Afghan rulers of Turkish descent in utter disregard of the fact
    that most of the territories they plundered are their own - the
    North West Frontier Province, the Punjab and Sind. The men and
    women they tortured, enslaved, ravished and put to the sword were
    their own forebears.

    If Pakistanis wish to revel in the inglorious misdeeds of
    foreigners perpetrated on their own soil and on their own
    ancestors, they are welcome to twirl their moustaches in euphoria
    and say: " Where ignorance is bliss, it is folly to he wise."

    Indians may look forward to future generations of Pakistani IRBMs
    and similar sophisticated weaponry named after the likes of
    Changez Khan, Nadir Shah and Ahmad Shah Abdali. Alexander the
    Great and Harshavardhan also have strong claims, but they might
    be disqualified for obvious reasons.

    In the course of his many abortive forays into India, Mohammad
    Ghori is said to have been captured once by the forces of Delhi.
    But Prithviraj Chauhan, king of Delhi, magnanimously let him off.
    Legend has it - and it is widely believed in India - that when
    Ghori eventually succeeded in defeating Prithviraj Chauhan at the
    Second Battle of Tarain in 1192, he blinded him and took him in
    chains to Afghanistan along with his friend, the poet
    Chandravardai.

    Ghori held a grand durbar to celebrate his victory. His prize
    catch, the king of Delhi, blind and a prisoner, was paraded and
    publicly humiliated. Deeply incensed by the treatment meted out
    to his monarch, Chandravardai took refuge to a subterfuge. He
    announced that though completely blind, Prithviraj could still
    hit a target guided solely by sound, and he asked for permission
    for this feat to be performed.

    Prithviraj Chauhan was handed a bow and arrow, and Chandravardai
    sang a now-famous verse which told him of the elevation and
    distance to Ghori's throne. And thus, guided solely by sound,
    Prithviraj shot his arrow through Ghori.

    The legend may not be entirely true, but it would be absolutely
    accurate to say that even after eight centuries have elapsed,
    Prithviraj is regularly subjected to indignity in the land where
    he was taken as a captive. I have seen it at first hand.

    Many years ago, while travelling by jeep from Kandahar to Kabul,
    I had to make a night halt en route at Ghazni. At the hotel, I
    learned that there was a grand mausoleum over the tomb of Sultan
    Mahmud Ghaznavi near the town, and I determined to see it. A few
    extra Afghanis (the local currency) helped my driver to
    comprehend the necessity of making a small detour the next
    morning.

    The mausoleum was indeed grand -judging by local standards - with
    a high, arched doorway like the Buland Darwaza. lie tomb proper
    was in a cellar about four or five feet be low ground-level. It
    intrigued me considerably to note that there were no steps
    leading down into the tomb. Instead, a metal chain hung from the
    ceiling of the cellar. I was told that I would have to hold the
    chain and jump down.

    I asked for the reason for this peculiar method of entry. The
    caretaker was evasive at first. But after much persuasion, he
    disclosed that there was another tomb at the exact spot where you
    jumped down. There, the infidel king of Delhi, Prithviraj
    Chauhan, lay buried.

    ================================================== =====================
    Might I add, that the very Islam these Pakis seem to be proud of, was forced down upon them.
    Most of these are descendents of forced converts to Islam!




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  • unitednations
    07-10 12:50 PM
    Such mistakes can be corrected by CBP defered inspectors but they will only correct typo errors by the CBP at POE . For other mistakes u need to file Form I 102 with USCIS.


    That's correct spelling mistakes, etc., can be corrected if you go back to the port of entry who generated the I-94 card.

    I 102 is more for replacement of an I-94 card.

    However; POE entering you on a wrong companies h-1b isn't so easily correctible after the fact.

    In situations such as this; it is better to go back out and re-enter with proper company h-1b.

    In May and June before people were getting ready to file the 485's a lot of these issues were found in reviewing their files/history. Many people had their visas expired and they didn't want to go for visa stamping. What many people did was go to Canada and use auto revalidation and then re-enter USA on the proper companies h-1b and/or get a new I-94 card and also reset the 245k benefit since it is measured from the date of last entry to filing the 485.



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  • validIV
    06-25 12:28 PM
    All you and the renters here are doing is speculating. Speculators, from my experience, always buy and sell at the wrong time because all they do is guess. Even if prices do go lower in 2011, speculators will speculate that it will go down further and continue to hold off then miss their chance. Same problem with now in 2009, you missed the low interest rates and who knows when they will come back down to the 4s again. Personally I hope they do come back, cuz I missed a chance to refi one of my properties. You are not only losing your rent money to a landlord, but you are also losing valuable time that you could've used to knock off your mortgage.

    As for only putting 20% down and people saying that they want to buy their homes outright� they are idiots. You never pay full price or more than 50% for a home, even if you can afford it. Pay the downpayment, then invest the rest of that money elsewhere and build even more from that money. That is called leverage and thats what good smart investors do. They use the system, they leverage their money and NEVER pay full price. If you have $800,000 and want to buy an $800,000 3 family house, u dont use all ur money on it to pay it all in one shot. You buy 3 or 4 of them, paying 20% down then rent it out, use the rent money to pay the mortgage hold and sell after 20-30 years. Use the rest of the money and invest that in a portfolio or start a business. After 30 years all your properties will be paid off by renters like the people here. You can sell them, give them to your kids, whatever. But don't tell me you're not coming out ahead.

    And for the people that are proud to have more than 1 car and paid it all off� a car is not an investment. Unless you buy an antique that you can sell for more than what you paid for, it is not comparable to owning a home. I have a car, it degraded in value the minute i drove it off the lot. Its great for vacations, going around, getting to work whatever. But I am not proud to own a degrading liability even when its been fully paid 5 years after I bought it with no chance of increasing its value.

    I have no problems with renters like you or others in this forum. I make money from you. I don't care if you terminate your lease early because another renter will take your place. All renters do is throw away their money and will never get it back. I will use your rent money to pay my mortgage. But don't try to tell me that owning a home is a bad idea. Owning your own home is NEVER a bad idea and 68% of America agrees. You will ALWAYS need a place to live in.


    Sledge,
    Nobody is saying that the world is coming to and end in 2 years.IMHO myself and many others would agree that long term buying a house makes sense. The question is does buying now if you haven't already bought your primary residential home make any sense.

    From the current data, Do you think a guy who buys a house in 2009 would come ahead of somebody who would buys in 2011 when the housing market may have fully bottomed out ? I know its impossible to time the market. But all indicators to name a few below point that home prices should continue to decline.


    Unemployment is still on the way up. We will cross 10% anytime soon is a given.
    Excess housing inventory
    Home prices are still above the trend line. Historically its common for the correction to swing even below the trend line before it stabilizes.


    Again IMHO, If you haven't bought a home yet, Save so that you can make a bigger down payment (Own more of the house when you buy one) and check the market again mid 2010.

    Giving your example.
    Lets say guy buys in 2009, and another guy buys in 2011 (Assuming home prices would have further gone down using existing data points).. Who do you think would come ahead in 2019.




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  • jung.lee
    04-12 11:52 PM
    :eek:I don't think it's good time to buy in CA.. Just wait for option ARM reset and market will drop more.

    I agree with this statement!

    See this chart?

    http://www.irvinehousingblog.com/wp-content/uploads/2007/04/adjustable-rate-mortgage-reset-schedule.jpg

    Most of the higher priced properties purchased in 2003 - 2006 in the coastal areas of California were purchased using Option ARMs. I was talking to an acquaintance last week who was in the loan broking business in Orange County (had to switch careers since then) who told me that over 90% of several hundreds of loans that he was involved with were Option ARMs and very little 3% to no cash down.

    He also said that all the loan guidelines are so strict now that a majority of those who took these dicey loans will not be able to refinance when the payments reset in the next 3-4 years.

    As an example he said he knew someone who had bought a $750k house with 3% down ($22.5k), with an Option ARM at 2% interest only with negative amortization of unpaid interest (i.e. principal payment and a portion ofthe interest payment was "Optional" in the first 3 years). This interest even with today's low interest environment will reset to LIBOR (http://www.bloomberg.com/markets/rates/index.html)+ 3.75%. Furthermore, this will reset to a "fully amortizing loan", i.e. paying principal is no longer an option.

    So can you imagine trying to refinance this house in two years, when it has declined say conservatively 20% in value down to $600k, and one still owes the full amount of $750k+ unpaid principal on the original loan? Right now lenders are asking for a minimum of 20% down and financing no more than 80% of current appraised value. In bubble markets such as ours in CA, they are asking to finance no more than 75% of appraised value in some cases. So all in all, these "homeowners" are pretty much screwed. Experienced observers are positing that there will be increase in foreclosures and walkaways.

    For those who rented and saved, there will be lots of choices in the best areas. Just be patient!




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  • Macaca
    01-30 06:48 PM
    The article Round 2: H-1B Battle: American engineers vs. President Bush (http://www.computerworld.com/blogs/node/4480)! has the following paras.

    Lou Dobbs exposed a complete lack of enforcement of H-1B caps by the federal government for the last 2 years. According to the USCIS report, over 75,000 additional H-1B visas were issued above the cap during 2004 and 2005. He openly challenged Congressmen, Senators and the President to enforce our laws. He posed the questions:

    1) Why was the report released on November 20th, 2006, immediately after the last election?

    2) Why was his report not made available to the public?

    3) Why aren�t guest worker Visa caps being enforced?

    4) Why does neither Congress nor the executive branch fulfill their constitutional duties?

    These good questions lead to the bigger question of who is responsible for enforcing these laws?




    Macaca
    05-30 05:31 PM
    In China, Crime Is Kept Quiet, Except on TV
    The country remains safe by Western standards, but crime is more common and data are scarce (http://online.wsj.com/article/SB10001424052702304520804576349181022278452.html)
    By JAMES T. AREDDY | Wall Street Journal

    Last June, hours after her students went home, Sunny Shi, the principal at a kindergarten in Shanghai's Pudong district, was bludgeoned to death in her office. The suspect was another school employee.

    Officially, it was as if the murder never happened. Not a word was reported publicly by Shanghai police or local media. As talk circulated among parents, the school's administrators offered trauma counseling but requested their silence. "Now the case is under police investigation," the chief administrator said by email, and "we regret that we cannot provide any details."

    The treatment of this case was not unusual. All across China, authorities are thought to hush up episodes like Ms. Shi's killing, which explains in large part why no one knows how much crime occurs in the world's most populous nation. But few doubt that crime is increasing as economic growth divides rich from poor and China permits more personal mobility.

    "In the era of Mao, China was known as a virtually crime-free society," says Steven F. Messner, a University of Albany sociology professor who studies criminality. "To get rich is glorious" is the philosophy today, he added, "but there would be a darker side in terms of crime."

    China's national crime statistics show a sharp escalation in cases over the past decade, led in particular by non-violent larceny, like bicycle theft and purse snatching. But, as in the U.S., the official numbers also point to steep declines in violent crime, with the murder rate dropping by half between 2000 and 2009.

    Experts consider China's crime statistics both problematic and politicized. They also generally agree that the country remains safe by Western standards. Dark streets don't imply danger here.

    Evidence abounds, however, that the Communist Party leadership's ideal of a "harmonious society" remains a target, not the reality. In China's growing cities, aluminum bars over windows and doors make most apartments resemble jails. Homeowners are snapping up security devices like cameras and alarms.

    Anxious about kidnapping, China's newly wealthy often drive bullet-proof Land Rovers and hire kung fu masters from Shaolin Temple as security agents.

    Television contributes a fear factor with real-crime shows modeled on "America's Most Wanted" and "Cops." China Central Television says its law-and-order channel grabs more viewers than its sports stations. Every day, CCTV's one-hour documentary "Legal Report" follows detectives as they crack sensational abduction, extortion and robbery cases.

    Its coverage of a spate of apparently random attacks on seven women this year in Hebei province, for instance, featured the nighttime capture of 23-year-old Zhang Yunshuai. His foldable knife decorated with a butterfly was shown as evidence. He was led to a subsequent interview wearing a reflective orange prison vest and cuffed at the wrists and ankles, where he tilted his shaved head and muttered, "because women break my heart."

    Shorter installments drew on security cameras that captured a thief shielding his pilfering hand beneath a menu in a crowded Beijing restaurant and thugs casing hotel lobbies for handbags.

    On these true-life crime shows, "the man" consistently finds his perp. A popular notion holds that the censors permit these shows about China's criminal underworld because they allow the leadership to demonstrate how the pervasive surveillance of the government equates to swift justice.

    Canadian Debra O'Brien got an up-close look at China's criminal justice system after her 22-year-old daughter Diana was stabbed to death three years ago in Shanghai, a bombshell case just weeks before the start of the 2008 Olympics. Authorities quickly won a confession from Chen Jun, a penniless 18-year-old migrant from rural Anhui province. Mr. Chen admitted he struggled with the aspiring model during his bungled attempt to burgle her apartment, located steps from a tea shop that recently fired him.

    Ms. O'Brien left impressed. She received extensive briefings by senior police and personal copies of forensic photos. The judge even sought her opinion about a death sentence for Mr. Chen. She had a face-to-face with the apologetic killer.

    "It was all shocking and horrific, but everything was done really respectfully and transparently," Ms. O'Brien said by telephone. "You don't feel there is a lot of ego going on. People are doing their jobs."

    But the public wasn't offered many details. Ms. O'Brien herself admits she isn't sure of what happened to Mr. Chen but believes he became eligible for release two months ago. Mr. Chen's lawyer says he is serving life.

    Pi Yijun, a professor of criminal justice at China University of Political Science and Law in Beijing, says that he sees crime rising and getting more violent, which he attributes to anger and frustration among society's have-nots. "The accepted mindset seems, 'fists are more powerful than reason,'" he said.

    But in a rare 2004 survey of crime victimization, centered on the northern city Tianjin, the University of Albany's Mr. Messner found that few people were touched personally by crimes worse than a stolen bicycle. He credits traditional features of Chinese society. "You still have a much more communitarian orientation than the extreme individualism you see in the U.S.," he said.



    China Clamps Down in Bid to Halt Protests in Inner Mongolia (http://online.wsj.com/article/SB10001424052702304563104576353353518093630.html) By BRIAN SPEGELE | Wall Street Journal
    China tries to avert Inner Mongolia protests (http://www.latimes.com/news/nationworld/world/la-fg-china-mongolia-protests-20110530,0,3895402.story) By Barbara Demick | Los Angeles Times
    The China Story Darkens (http://www.asiasentinel.com/index.php?option=com_content&task=view&id=3223&Itemid=422) By Philip Bowring | Asia Sentinel
    Once Again, U.S. Finds China Isn�t Manipulating Its Currency (http://www.nytimes.com/2011/05/28/business/global/28currency.html) By BINYAMIN APPELBAUM | The New York Times




    nojoke
    04-07 04:54 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.

    Your reasoning is flawed. Lot of people made money in the dot com boom era selling stocks. Just like you, lot of them said during the midway of crash that the stocks had fallen and is very attractive to buy and is a buying opportunity bla bla. Many fell victims. All those stocks became worthless.

    We are in the middle/start of the correction. Housing takes a long time to correct, unlike stocks. It took 6 years for the last real estate crash(1989) to bottom out. No way it is attractive to buy at this time.



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