cooldude0807
11-26 11:22 AM
Which means that EAD is much safer than H1b. Then why are Attorneys insisting on the opposite (H1b against EAD?)
If this is confirmed news, i will revisit my blog and make changes
__________________________________________________ __
I think they prefer for us to be on H1 rather than on EAD because its easy to travel in & out of the country if you are on H1. If you use EAD then one has to use travel doucments which technically is to be used in an emergency. This is just my opinion!!
If this is confirmed news, i will revisit my blog and make changes
__________________________________________________ __
I think they prefer for us to be on H1 rather than on EAD because its easy to travel in & out of the country if you are on H1. If you use EAD then one has to use travel doucments which technically is to be used in an emergency. This is just my opinion!!
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skv
06-22 03:13 PM
so it is tied to the applied applications can you not check someones elses application
-M
The employer can establish an account for an attorney or other agent at http://www.plc.doleta.gov. It's unique PERM cases filed by that employer.
-M
The employer can establish an account for an attorney or other agent at http://www.plc.doleta.gov. It's unique PERM cases filed by that employer.
jay1ram2
08-23 07:33 PM
Mu thpoughts and assumptions. Might want tot talk to your attoney too
> First thing to remember is this not a law yet and it might take some time to become law and that too "IF" it gets approval
> Second "IF" this becomes a law and if your I140 application says Advacned Degree/Exceptional Ability then you might have to send additional docs
> As I said in my earlier thread my i140 approval clearly said "Advacned Degree, or Exceptional Ability"
> You might want to check your application once too
thanks
satish
Mine is "Advanced Degree, or Exceptional Ability". I got my I-140 approved in June 2007 and haven't filed my 485 because I was not married at that time.
> First thing to remember is this not a law yet and it might take some time to become law and that too "IF" it gets approval
> Second "IF" this becomes a law and if your I140 application says Advacned Degree/Exceptional Ability then you might have to send additional docs
> As I said in my earlier thread my i140 approval clearly said "Advacned Degree, or Exceptional Ability"
> You might want to check your application once too
thanks
satish
Mine is "Advanced Degree, or Exceptional Ability". I got my I-140 approved in June 2007 and haven't filed my 485 because I was not married at that time.
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funny
09-12 01:44 PM
At least I won't give u red dots if you can enlighten us how to get us out of this mess. And yes, we do want our green card so I don't think we can stop the process or stop spending money on that. Also please advise us how to bring all 70K people under one umbrella?
I am in too...How can we organize all the members...70,000 is a lot of people, Any thing done effectively and efficiently will make an impact.
I am in too...How can we organize all the members...70,000 is a lot of people, Any thing done effectively and efficiently will make an impact.
more...
pbojja
09-11 04:38 PM
Lets set the delivery date for Ocotober 2nd - Gandhi Jayanthi . I think thats the great day to express our opinion.
redgreen
02-23 01:23 PM
All the data and inside information point to EB2 and EB3 to become current some time in the future.
more...
pmpforgc
03-05 10:42 PM
For all the replies to my post. I understand that there are many others in the same situation I am in, who can understand and feel the injustices of this process.
I understand that we made personal choices and we have to take responsibility for our actions, if something is clear is that h1-B is a NON-EMIGRANT visa. I just wish there was more transparency from the USA government when it comes to apply for PR through employment. The backlogs and collapse of the system, only reflect the lack of interest in solving the problem which in my opinion it's also a reflection of the lack of interest in having any more skilled professionals coming to the US.
Most of the participants in this forum are from India. I appreciate your insights and wisdom, you are well known for being spiritual people who work hard through hardships in life. Many of you have left here important advices and I am grateful for that.
Personally I have done my best to live a life outside this green card ordeal. I have moved on trying to live a normal life without being obsessed with this problem, but as most of you know, reality hits quite often and we are reminded of the limitations that our legal position imposes, more often than not.
I am only regret the rude comment of somebody who replied saying " Give up something you don't have? Live a life". It's true I don't have anything to give up and that is the sad part of all this process. I have invested thousands of dollars from my own pocket, gone under distress and suffered the unfairness of the system in exchange of nothing. Yet.
Thanks for your feedback, and good luck to all you. I hope that someday in the future people from my country, or any country for that matter, wont be forced to leave their families and friends behind because of unbearable live conditions we face.
Just wanted to highlight two sentence from your post, which are contradictory. You yourself said we made personal choice. so it is hard to belive any one is forced to immmigrate from their home country and get away from their family against their own wish. That is only possible if you immigrated or came here as minor and your parents/adopters made those choices for you, which you did not like. But as i understand from you posts, you applied your own H1B, so I assume it was not against yours wishes. And also in your first post you already mentioned that when you first came here your family was very happy for you. So I assume at that time no one from you or your family were worried about UNBEARABLE Living Conditions in US that WE FACE?
I understand that we made personal choices and we have to take responsibility for our actions, if something is clear is that h1-B is a NON-EMIGRANT visa. I just wish there was more transparency from the USA government when it comes to apply for PR through employment. The backlogs and collapse of the system, only reflect the lack of interest in solving the problem which in my opinion it's also a reflection of the lack of interest in having any more skilled professionals coming to the US.
Most of the participants in this forum are from India. I appreciate your insights and wisdom, you are well known for being spiritual people who work hard through hardships in life. Many of you have left here important advices and I am grateful for that.
Personally I have done my best to live a life outside this green card ordeal. I have moved on trying to live a normal life without being obsessed with this problem, but as most of you know, reality hits quite often and we are reminded of the limitations that our legal position imposes, more often than not.
I am only regret the rude comment of somebody who replied saying " Give up something you don't have? Live a life". It's true I don't have anything to give up and that is the sad part of all this process. I have invested thousands of dollars from my own pocket, gone under distress and suffered the unfairness of the system in exchange of nothing. Yet.
Thanks for your feedback, and good luck to all you. I hope that someday in the future people from my country, or any country for that matter, wont be forced to leave their families and friends behind because of unbearable live conditions we face.
Just wanted to highlight two sentence from your post, which are contradictory. You yourself said we made personal choice. so it is hard to belive any one is forced to immmigrate from their home country and get away from their family against their own wish. That is only possible if you immigrated or came here as minor and your parents/adopters made those choices for you, which you did not like. But as i understand from you posts, you applied your own H1B, so I assume it was not against yours wishes. And also in your first post you already mentioned that when you first came here your family was very happy for you. So I assume at that time no one from you or your family were worried about UNBEARABLE Living Conditions in US that WE FACE?
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TeddyKoochu
09-07 11:39 AM
I think there is more smartness needed than luck in the greencard process. If you look at the posts in this thread there are some people that came to USA in 1990s and still waiting, while some that came much later are on their way to citizenship. Some got the EB2 route and are happy and some in EB3 have only gloom before them.
This in my opinion has helped smart folks among us:
- They applied for GC as soon as possible. Those who waited did not give importance to Greencard as soon as they started a job in USA are now paying for their mistakes. During the initial days of career I have seen people saying that GC is not important to them etc but when their H1B is about to expire they panic and get desperate for Green Card.
- Before pre-PERM era in 2005, smart folks took up jobs in states where labor certification had no backlog. They are now either waiting for citizenship or already citizens. On the other hand people in states like CA, NY etc suffered due to labor backlogs and far from getting greencard in hand.
- Any company can be good or bad for an individual. It it not a question of consulting vs fortune 500 or small vs big size of a company. Smart folks know what matters them the most when they join a company. When company sees them as a valuable asset, it applies for them. I have seen where company applied for GC as soon as the employee joined it. And I have seen posts where people had to wait for several years before company applied.
- People who took advantage of the Labor substitution got faster labors. Some could take advantage of EB2 labors and they are very fortunate. This is in no way endorsing the labor substitution rule, but in pre 2007 times nobody was protesting against it. This is a sad reality.
- Smart folks took the risk and changed jobs wth EB2 job requirements, so that they can file in EB2. Such folks with 2007 PD are happy today and people with 2003 PDs in EB3 will have to wait for a long time.
- If you read posts on this thread, many people have posted that they feel they are being screwed by their employer or lawyer. But hardly anyone has said they took any action against it. This is also a sad reality where we as a community have failed and will continue to suffer.
- Many folks have said that they thought they were in EB2. But found they are in EB3. This shows another weakness of our community and lack of awareness. IV forum tries to spread the awareness but unless an individual takes initiative, they will suffer.
Many people were able to file I485 in July 2007 due to IV effort. Imagine a 2004 EB3 India person without EAD today? How will he survive a job loss on H1B in a bad economy? We should take a lesson from that event and try for another big push. There is no other shortcut for us. It is shocking to find people on this thread that are in this country for more than 10 years and without a green card. These folks should be the most vocal folks in this effort.
-
Pappu excellent post full of true facts. Being smart in my opinion means being knowledgeable and aware of the current situation at any given point of time rather than being ignorant and indifferent. Most of the time doing some basic research can lead an individual to the right option that is legally consistent and correct, it’s really never too late to correct course. Yes there will be street smart people (Sub labor being one example) who will game the system but besides other things let’s accept that they know how things work. Life is about learning and then What Next? It’s really about continuous improvement and trying to move in the right direction. Not having the desired end result is fine but not doing anything or not trying is bad. Very nice and motivating stories from some of the veteran’s you give us the motivation to hang on. OP you seem to have started a nice discussion.
This in my opinion has helped smart folks among us:
- They applied for GC as soon as possible. Those who waited did not give importance to Greencard as soon as they started a job in USA are now paying for their mistakes. During the initial days of career I have seen people saying that GC is not important to them etc but when their H1B is about to expire they panic and get desperate for Green Card.
- Before pre-PERM era in 2005, smart folks took up jobs in states where labor certification had no backlog. They are now either waiting for citizenship or already citizens. On the other hand people in states like CA, NY etc suffered due to labor backlogs and far from getting greencard in hand.
- Any company can be good or bad for an individual. It it not a question of consulting vs fortune 500 or small vs big size of a company. Smart folks know what matters them the most when they join a company. When company sees them as a valuable asset, it applies for them. I have seen where company applied for GC as soon as the employee joined it. And I have seen posts where people had to wait for several years before company applied.
- People who took advantage of the Labor substitution got faster labors. Some could take advantage of EB2 labors and they are very fortunate. This is in no way endorsing the labor substitution rule, but in pre 2007 times nobody was protesting against it. This is a sad reality.
- Smart folks took the risk and changed jobs wth EB2 job requirements, so that they can file in EB2. Such folks with 2007 PD are happy today and people with 2003 PDs in EB3 will have to wait for a long time.
- If you read posts on this thread, many people have posted that they feel they are being screwed by their employer or lawyer. But hardly anyone has said they took any action against it. This is also a sad reality where we as a community have failed and will continue to suffer.
- Many folks have said that they thought they were in EB2. But found they are in EB3. This shows another weakness of our community and lack of awareness. IV forum tries to spread the awareness but unless an individual takes initiative, they will suffer.
Many people were able to file I485 in July 2007 due to IV effort. Imagine a 2004 EB3 India person without EAD today? How will he survive a job loss on H1B in a bad economy? We should take a lesson from that event and try for another big push. There is no other shortcut for us. It is shocking to find people on this thread that are in this country for more than 10 years and without a green card. These folks should be the most vocal folks in this effort.
-
Pappu excellent post full of true facts. Being smart in my opinion means being knowledgeable and aware of the current situation at any given point of time rather than being ignorant and indifferent. Most of the time doing some basic research can lead an individual to the right option that is legally consistent and correct, it’s really never too late to correct course. Yes there will be street smart people (Sub labor being one example) who will game the system but besides other things let’s accept that they know how things work. Life is about learning and then What Next? It’s really about continuous improvement and trying to move in the right direction. Not having the desired end result is fine but not doing anything or not trying is bad. Very nice and motivating stories from some of the veteran’s you give us the motivation to hang on. OP you seem to have started a nice discussion.
more...
imm_pro
09-11 04:32 PM
wow..what a novel and legal way to humiliate...yes i am in
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ita
08-25 08:13 PM
I'm looking for homeloan options in India. Which bank would be good to apply for home loans.
Was thinking about ICICI bank but got scared after going through the other thread about how ICICI bank is into stealing.
I would appreciate it if anyone can give me few suggestions on this.
Thank you.
Was thinking about ICICI bank but got scared after going through the other thread about how ICICI bank is into stealing.
I would appreciate it if anyone can give me few suggestions on this.
Thank you.
more...
desi3933
08-04 04:07 PM
What is wrong with bonded to 1 job type ? You file AC21 but job type should be similar. You cannot become a company's Vice president if your labor was for Programmer, why are you picking on things ?
If one is lucky enough to get a job of company vice-president then I am sure, in that case, company can do another I-140 and get PD ported.
BTW, I am yet to see any such cases where someone is offered job offer for vice president whereas he/she is working as Programmer.
The guy sitting next to my cubicle is here more than 7 years, he's waiting for his 140, he's stuck with my employer while he wants to move since he has a 3 years degree than a masters, He was considered a EB-3 I. Don't you think he wants to know how many decades it will take for his dates to get current ?
If it doesn't apply on you doesn't mean these are not facts...
I wish that he (guy in next cubicle) gets I-140 approved soon.
>> He was considered a EB-3 I. Don't you think he wants to know how many decades it will take for his dates to get current?
If his qualifications does not match with EB-2 job qualification, there is nothing much can be done in that case.
I am sure that many people would like to know when their PD is going to be current, but this can not be answered by anyone. Visa Bulletin dates depends on various input factors and they keep changing every month.
The PD uncertainty is, obviously, a part of GC process and kinda unknown factor.
If one is lucky enough to get a job of company vice-president then I am sure, in that case, company can do another I-140 and get PD ported.
BTW, I am yet to see any such cases where someone is offered job offer for vice president whereas he/she is working as Programmer.
The guy sitting next to my cubicle is here more than 7 years, he's waiting for his 140, he's stuck with my employer while he wants to move since he has a 3 years degree than a masters, He was considered a EB-3 I. Don't you think he wants to know how many decades it will take for his dates to get current ?
If it doesn't apply on you doesn't mean these are not facts...
I wish that he (guy in next cubicle) gets I-140 approved soon.
>> He was considered a EB-3 I. Don't you think he wants to know how many decades it will take for his dates to get current?
If his qualifications does not match with EB-2 job qualification, there is nothing much can be done in that case.
I am sure that many people would like to know when their PD is going to be current, but this can not be answered by anyone. Visa Bulletin dates depends on various input factors and they keep changing every month.
The PD uncertainty is, obviously, a part of GC process and kinda unknown factor.
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anju
07-19 05:30 PM
I have a question about a unique situation of getting stuck in BEC and applying 485 with a newer PERM case. If LC is stuck in BEC at this time, but the person has a new PERM+140 from a different location and applies 485. Can this person change the priority date of 485 when the old LC from BEC gets approved, and 140 approved, to the BEC PD?
I am on the same boat. But I don't know the answer! Guys please help.
I am on the same boat. But I don't know the answer! Guys please help.
more...
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ita
07-14 03:30 PM
Sent $21.. 7YB8Z-XTRJT.
Thank you.
Thank you.
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arihant
08-08 02:38 PM
After reading the op-ed by Pankaj, I had the following questions: Has the SKIL bill already passed the Senate? I know it is included as part of CIR. But, what happens if CIR gets thrown out?
more...
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sirinme
09-10 05:33 PM
Just contributed $100 via Google Checkout. Can't make it in person to the rally, but thanks & best wishes to everyone involved.
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pappu
08-12 12:29 PM
The senator is missing it or dodging it - it clearly means one thing -we are invisible as constituents. We are being taken for a ride only because we do not speak up or go meet our lawmakers. They do not see us as ordinary constituents having the same issues as their other constituents. The whole human -angle is missing.
We have to go meet our lawmakers and explain to them our part of the story/ They need to be told and made aware that we live in their constituencies and our grievances are genuine and need to be addressed.
And although this particular bill does not affect people that are here already.. Beware!! the noose is tightening- the next on the chopping block is EB Immigrants.To answer your question: Indian companies in India or Indian politicians complaining will not do much impact. After passing this bill politicians will cosy up and say good things to rebuild relations. The real impact can happen if Indians in New York state who can vote stand up against such laws. Same goes for the Desi companies who have tried to raise the voice against USCIS memo. They lack grassroots advocacy and support. Their Indian US citizen friends are busy organizing Diwali melas and Shahrukh Khan stage shows. Immigration voice can be extremely successful if politicians see us as an immigrant lobby. Just like they see Jewish lobby or Hispanic lobby. This is why participation of IV greencard members and citizen friends is important to advocate for changes that helps the immigrant community. I this case too, IV community should not turn a blind eye to what happens around us. Just because we do not work for such companies or we already have EAD does not mean we do not see beyond the headline of this issue. We spend more time analyzing , over analyzing, predicting and tracking rather than actively understanding the politics of issues that are causing all the problems we are facing. To some extent this law passed because Indians in USA did not care due to their narrow outlook and priorities in politics.
We have to go meet our lawmakers and explain to them our part of the story/ They need to be told and made aware that we live in their constituencies and our grievances are genuine and need to be addressed.
And although this particular bill does not affect people that are here already.. Beware!! the noose is tightening- the next on the chopping block is EB Immigrants.To answer your question: Indian companies in India or Indian politicians complaining will not do much impact. After passing this bill politicians will cosy up and say good things to rebuild relations. The real impact can happen if Indians in New York state who can vote stand up against such laws. Same goes for the Desi companies who have tried to raise the voice against USCIS memo. They lack grassroots advocacy and support. Their Indian US citizen friends are busy organizing Diwali melas and Shahrukh Khan stage shows. Immigration voice can be extremely successful if politicians see us as an immigrant lobby. Just like they see Jewish lobby or Hispanic lobby. This is why participation of IV greencard members and citizen friends is important to advocate for changes that helps the immigrant community. I this case too, IV community should not turn a blind eye to what happens around us. Just because we do not work for such companies or we already have EAD does not mean we do not see beyond the headline of this issue. We spend more time analyzing , over analyzing, predicting and tracking rather than actively understanding the politics of issues that are causing all the problems we are facing. To some extent this law passed because Indians in USA did not care due to their narrow outlook and priorities in politics.
more...
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andy007
07-18 12:12 AM
Labor PD: April 29, 2003 (EB3)
140 Approved Date:
140 approved from: NSC
Mailed to NSC: June 1st
Received at NSC: June 4th
Receipt Date : June 5, 2007 This is what everybody gets now ........
Approved I485: Notice date : June 18, 2007
FP Appointment: July 11, 2007
I-485 : PENDING
140 Approved Date:
140 approved from: NSC
Mailed to NSC: June 1st
Received at NSC: June 4th
Receipt Date : June 5, 2007 This is what everybody gets now ........
Approved I485: Notice date : June 18, 2007
FP Appointment: July 11, 2007
I-485 : PENDING
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pappu
06-06 04:33 PM
/\/\/\/
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jamesbond007
09-09 01:44 PM
Gapala made some very good analysis in his posts on this thread.
But......
Looking at the country's GDP to analyze the price of land in a few cities does not make sense. The growth in land value is not across the length and breadth of the country. It is only limited to the big cities which are experiencing the money rush.
NRI's from the US are only one piece of the puzzle who are funneling in money to India.
There are NRIs from other countries.
Then there are business people making big profits dealing with other countries.
And local business people who have a lot of black money. All of them together are keeping up the prices.
There also seems to be a change in the thinking of the Indian middle class. Most of our parents' generations were in the habit of saving up money and making purchases with the saved money.(These were savings in a bank account mind you; not investments that grew at a rate better than the inflation.)
The current middle class seems to realize that trying to save money in a bank in order to buy something is foolish since the paper money is losing its value over time. So they are either investing; or making purchases with borrowed money as long as they can make the EMI payments. Overall, the current middle class is not backing out of buying what they need for lack of money. (This trend will probably lead India in the same path as the US i.e. huge debt for everyone)
Regarding the question "why would a farmer sit on land valued at $100K, while only making about $1K by farming that land?" Its only a matter of time before they realize their fool hardiness and then they will sell. Pretty soon when the construction begins in their neighbourhood, and prices of all commodities go up so much that they can't live in their $1K income, then they will be forced to sell. Or they might get the wind of a "someone they know" who sold, and they will follow their example.
Strictly speaking about Hyderabad, there are a lot of farmers who cashed out their lands in the city outskirts. Smart ones then moved out further away from the city and bought more land there to continue their farming. Others are spending their windfall on jewellery, cars and other bling.
All that being said, it is still scary to me.
In my opinion, anyone looking to make a quick buck should not get into it at this time.
If you want to buy because you want to go back and settle there in a couple of years, then that is different.
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
But......
Looking at the country's GDP to analyze the price of land in a few cities does not make sense. The growth in land value is not across the length and breadth of the country. It is only limited to the big cities which are experiencing the money rush.
NRI's from the US are only one piece of the puzzle who are funneling in money to India.
There are NRIs from other countries.
Then there are business people making big profits dealing with other countries.
And local business people who have a lot of black money. All of them together are keeping up the prices.
There also seems to be a change in the thinking of the Indian middle class. Most of our parents' generations were in the habit of saving up money and making purchases with the saved money.(These were savings in a bank account mind you; not investments that grew at a rate better than the inflation.)
The current middle class seems to realize that trying to save money in a bank in order to buy something is foolish since the paper money is losing its value over time. So they are either investing; or making purchases with borrowed money as long as they can make the EMI payments. Overall, the current middle class is not backing out of buying what they need for lack of money. (This trend will probably lead India in the same path as the US i.e. huge debt for everyone)
Regarding the question "why would a farmer sit on land valued at $100K, while only making about $1K by farming that land?" Its only a matter of time before they realize their fool hardiness and then they will sell. Pretty soon when the construction begins in their neighbourhood, and prices of all commodities go up so much that they can't live in their $1K income, then they will be forced to sell. Or they might get the wind of a "someone they know" who sold, and they will follow their example.
Strictly speaking about Hyderabad, there are a lot of farmers who cashed out their lands in the city outskirts. Smart ones then moved out further away from the city and bought more land there to continue their farming. Others are spending their windfall on jewellery, cars and other bling.
All that being said, it is still scary to me.
In my opinion, anyone looking to make a quick buck should not get into it at this time.
If you want to buy because you want to go back and settle there in a couple of years, then that is different.
[quote] to add to the conversation on the price -> locals are also experiencing a glut of money due to the economic boom in the last 5 years or so. Small businesses have really taken off in a big way exporting to Europe/ US. Investors in the stock market have also hit the jackpot. And, once you have money, for most Indians the safest option to invest is in property or gold.
Also better salaries all around fueled by attrition of talent to the IT sector. [quote]
This may be correct to certain extent but only the elite class and creamy layer of 1.8% of total population. When we look at the bigger picture of the country, I could not connect the dots. GDP is just above $2500 and PPP is about $3300. How in the world will you justify $200,000 to $300,000. Plus the cost of financing the purchase.
In simple terms, median home price is 100 times the GDP and life expectancy in india is 70 years. average work life span is 40 years. Home Mortgages are 15, 20 or 25 years in India which will cover only 1/4th of the median price of a home based on even anticipated high GDP growth and considering moderate increase in cost of living. Given that the risk of default is huge and banks are running at very high risk. I believe buying a house is a big gamble in India and more to that for Banks, lending is also a big gamble.
Note that according to banks, investment in apartments capitalize only over 25 years in india. (Rent vs. Own) Is this correct? Average rentals in ONLY Big cities are Rs. 12000 ($275 / month $3300 a year) to 15000 ($340 / month $4000 a year) for the same 1000 sqft 2 bedroom apartments which itself is above the GDP :). What that tells me, even the rentals are also not affordable to majority of the population. Back to captalization part 4000 * 25 = 100,000. which is half of the investment... add the alternate investment value for 25 years, capitalization will be way below 50%.
That means it will take more than 50 years to capatilize the investment. This is more that Mod average work life span of 40 years. Note that Maintenance and Taxes for 25 years excluded in above calc. Are banks stupid?
I do not know what to tell ya man! To me its really scary
A small credit crunch (crisis is not required) might bring the entire economy to floor.
fine print: (Above analysis applies only for working taxpaying people like us who does not have unaccounted money.)
gg10004
03-17 10:08 PM
IRS faq clearly states that everyone on the tax return should have ssn. Even if one has ITIN no one will get the extra refund. Please read IRS faqs
http://www.irs.gov/newsroom/article/0,,id=179181,00.html
I myself am filing for extension to get ssn for my wife, i have her EAD but she is in India, so have to wait for her to come back and file for ssn.
Q. I file using an individual taxpayer identification number (ITIN). Can I still get a stimulus payment?
A: No. The law does not allow stimulus payments to people who file a return using an ITIN. A taxpayer must have a valid Social Security Number to qualify for the stimulus payment. If married filing jointly, both taxpayers must have a valid Social Security Number. And children must have valid Social Security Numbers to be eligible as qualifying children.
Q. I have an ITIN, but my spouse has a valid Social Security number. Can we get a payment?
A. If you and your spouse file a joint return, you will not get a stimulus payment. If your spouse files a separate return, your spouse may qualify for a payment, based on his or her income deductions and credits.
Q. If I have a valid Social Security Number and my child has an ITIN, do I get extra money for the child?
A. No. To qualify for the extra credit for qualifying children, not only do the taxpayer and spouse, if filing jointly, need valid Social Security Numbers, but the qualifying child must also have a valid Social Security Number.
http://www.irs.gov/newsroom/article/0,,id=179181,00.html
I myself am filing for extension to get ssn for my wife, i have her EAD but she is in India, so have to wait for her to come back and file for ssn.
Q. I file using an individual taxpayer identification number (ITIN). Can I still get a stimulus payment?
A: No. The law does not allow stimulus payments to people who file a return using an ITIN. A taxpayer must have a valid Social Security Number to qualify for the stimulus payment. If married filing jointly, both taxpayers must have a valid Social Security Number. And children must have valid Social Security Numbers to be eligible as qualifying children.
Q. I have an ITIN, but my spouse has a valid Social Security number. Can we get a payment?
A. If you and your spouse file a joint return, you will not get a stimulus payment. If your spouse files a separate return, your spouse may qualify for a payment, based on his or her income deductions and credits.
Q. If I have a valid Social Security Number and my child has an ITIN, do I get extra money for the child?
A. No. To qualify for the extra credit for qualifying children, not only do the taxpayer and spouse, if filing jointly, need valid Social Security Numbers, but the qualifying child must also have a valid Social Security Number.
reddysn
06-05 11:14 AM
Wendy welcome to IV and thanks for participating in the discussion.
Can you please take some time to send web faxes(faxid- 20) to all the state senetors using the link on the home page , if you have not already done so. and also call them if time permits.
Coming to ur note , I guess , people who apply from F1 to I-485 you are referring are not the primary green card applicants. They are dependents on primary applicatns. If not, can you tell me what they are studying and how they can apply green card from F1? I am not aware of this route.
Numerous students on F1 visa applied 485 and got their GC these years.
Can you please take some time to send web faxes(faxid- 20) to all the state senetors using the link on the home page , if you have not already done so. and also call them if time permits.
Coming to ur note , I guess , people who apply from F1 to I-485 you are referring are not the primary green card applicants. They are dependents on primary applicatns. If not, can you tell me what they are studying and how they can apply green card from F1? I am not aware of this route.
Numerous students on F1 visa applied 485 and got their GC these years.
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