ndbhatt
09-09 12:43 PM
My 2 cents.
From what I have read and learned from my experience, the dwelling (house/condo/apt, etc) prices are sensible and affordable (read payable) if it is between 2-3 times household annual income. I think this applies universaly with few exceptions.
Average household (family) income in India metro cities is around 6-7 INR lacs. For folks working in IT, it would be 'X' % more depending on his/her work. Let's take liberal amount of 12 lacs p.a.
This means that buying a property for price over INR 36 lacs would carry significant risk of defaulting. I have heard many of my friends give me argument that our income will grow significantly over years and should be able to manage higher loan amounts.
I am really aghast at the rate at which NRI's are investing in India. I can speak to Mumbai, where there are thousands of NRI bought properties that are vacant for years and there is no justifiable ROI. Having realised that there is no ROI due to resale or renting, sooner or later they will start pulling out their hard earned money. I wouldn't be surprised to see many foreclosures, in years to come, and RBI may have to bail out ICICI, IDBI, etc - a scenario similar to Fannie Mae and Freddie Mac.
I have thumb rule for myself - Don't buy property which is 3 times more than current annual income.
P.S. This isn't applicable for folks who have inherited a fortune. :D
From what I have read and learned from my experience, the dwelling (house/condo/apt, etc) prices are sensible and affordable (read payable) if it is between 2-3 times household annual income. I think this applies universaly with few exceptions.
Average household (family) income in India metro cities is around 6-7 INR lacs. For folks working in IT, it would be 'X' % more depending on his/her work. Let's take liberal amount of 12 lacs p.a.
This means that buying a property for price over INR 36 lacs would carry significant risk of defaulting. I have heard many of my friends give me argument that our income will grow significantly over years and should be able to manage higher loan amounts.
I am really aghast at the rate at which NRI's are investing in India. I can speak to Mumbai, where there are thousands of NRI bought properties that are vacant for years and there is no justifiable ROI. Having realised that there is no ROI due to resale or renting, sooner or later they will start pulling out their hard earned money. I wouldn't be surprised to see many foreclosures, in years to come, and RBI may have to bail out ICICI, IDBI, etc - a scenario similar to Fannie Mae and Freddie Mac.
I have thumb rule for myself - Don't buy property which is 3 times more than current annual income.
P.S. This isn't applicable for folks who have inherited a fortune. :D
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reddog
03-12 10:50 AM
Looks like it only tracks people who donated for FOIA
No, it does not even do that. it does not let FOIA donors logon too.
First, the whole concept of donor based organisation is so stupid.
I mean really stupid.
If the donor based thing is ON, the future of IV is not good.
Yeah, IV does good work by talking to people all around, from different stratas of lawmaking and what not.
but get real, look around guys, information is everywhere, not only here. and you are working for the greater good of the community, only donors are not going to be benefitting from this.
Instead of making donor based posts, have a FOIA kinda drive every now and then.
unbelievable, and to top that, even donors cant access the so called 'DONOR posts'.
talk about low life bureaucracy, welcome to IV.
No, it does not even do that. it does not let FOIA donors logon too.
First, the whole concept of donor based organisation is so stupid.
I mean really stupid.
If the donor based thing is ON, the future of IV is not good.
Yeah, IV does good work by talking to people all around, from different stratas of lawmaking and what not.
but get real, look around guys, information is everywhere, not only here. and you are working for the greater good of the community, only donors are not going to be benefitting from this.
Instead of making donor based posts, have a FOIA kinda drive every now and then.
unbelievable, and to top that, even donors cant access the so called 'DONOR posts'.
talk about low life bureaucracy, welcome to IV.
techskill
08-12 02:34 AM
There is something fishy. Its not possible that he could apply for 485 with the PD of September 2006 in June 2007 . Only people with priority date with June 2003 and earlier could apply. I know this because our PD is July 2003 and we applied only in July 2007. Please people stop this.
Since your PD is June 2003, you could have applied in June 2007 because in June Visa bulletin(released in May ) it moved till April 2004.
Since your PD is June 2003, you could have applied in June 2007 because in June Visa bulletin(released in May ) it moved till April 2004.
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cheg
07-23 06:07 PM
That's going to be a problem! :p Good luck with school and good luck to us in getting our greencards!!!
My husband doesn't even want to look. He says he'll become too agitated, so only let him know the good news. I'm addicted too, but this could become a problem for me, since this week I have finals at school:o
My husband doesn't even want to look. He says he'll become too agitated, so only let him know the good news. I'm addicted too, but this could become a problem for me, since this week I have finals at school:o
more...
somegchuh
01-03 01:40 PM
More than 4 years ago when I started the process I really was looking forward to getting a GC and eventually citizenship. But a lot has changed in the last 4 years. GC process has become much harder (after 4 years I am yet to file for 140 and 485). At the same time the economy back home is booming. So the financial incentive to go thru the long process is really going down by the day.
More than the financial factor, I have gradually started realizing that no matter how many friends I make here its never the same as having a large family network that provides for social stability for each family. Also, I have started observing aging indian couples in US who came in 60's and 70's. They look pretty lonely and sad. I guess the question I am asking myself today is, is finanical success today worth the social loss I will face once I retire?
PS: Does anyone know how to turn a thread into a poll?
More than the financial factor, I have gradually started realizing that no matter how many friends I make here its never the same as having a large family network that provides for social stability for each family. Also, I have started observing aging indian couples in US who came in 60's and 70's. They look pretty lonely and sad. I guess the question I am asking myself today is, is finanical success today worth the social loss I will face once I retire?
PS: Does anyone know how to turn a thread into a poll?
canleo98
08-12 01:00 AM
What BEC? BECs were established in March 2005.
BEC= Backlog Elimination Center, theywere for elimination of backlogs for LC's:o
BEC= Backlog Elimination Center, theywere for elimination of backlogs for LC's:o
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unseenguy
02-08 05:33 AM
If the girl is working and earning money, she has all the rights to spend the way she wants, including giving money to her parents. If she is not working, then help should be based only on humanitarian basis because we never know when one's financial situation changes. I can't understand how any girl can force her husband to spend for her parents and siblings especially when she is not earning.
Absolutely wrong. If husband and wife are filing a joint tax return, it is wrong on her part to send money to her parents without informing her husband. Leave the taxes, it was simply wrong on a wife's/husband's part to do ANY major money transaction without letting your other partner know. Its equivalent of cheating (just financial cheating). Do you think it is ok for a man to send money to his parents?
Absolutely wrong. If husband and wife are filing a joint tax return, it is wrong on her part to send money to her parents without informing her husband. Leave the taxes, it was simply wrong on a wife's/husband's part to do ANY major money transaction without letting your other partner know. Its equivalent of cheating (just financial cheating). Do you think it is ok for a man to send money to his parents?
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hebron
10-29 08:29 AM
Hi Guys,
Could anybody let me know what job code is used for labor certification. Is it DOT or SOC?
Could anybody let me know what job code is used for labor certification. Is it DOT or SOC?
more...
saimrathi
07-05 01:18 PM
Please send the contact info, I will call them too.. Iam from PA also..
Finally spoke to my congressman's Immigration contact in Bucks County PA.
He sounded supportive and said he will investigate the matter. I am going to call my state senators Sen Specter and Sen Casey's office as well.
People in PA, unite and call these lawmakers.
Finally spoke to my congressman's Immigration contact in Bucks County PA.
He sounded supportive and said he will investigate the matter. I am going to call my state senators Sen Specter and Sen Casey's office as well.
People in PA, unite and call these lawmakers.
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champak3
06-27 07:53 PM
This is a real selfish forum, I will never participate in any phone campaigns here on. To me I see no reason why should I be calling for others if noone can call for our issue too.
I again urge people on this forum to please call / email the DOL asking why such a difference between two processing center.... I mean all those who have approved labor. We still have people at backlog center... I am ready to campaign for them or any other person .... But want check out if this is a real community or just selfish hoax forum ....
I again urge people on this forum to please call / email the DOL asking why such a difference between two processing center.... I mean all those who have approved labor. We still have people at backlog center... I am ready to campaign for them or any other person .... But want check out if this is a real community or just selfish hoax forum ....
more...
gc007
09-01 10:24 AM
Since 1999. GC filled Mar 2003 EB3
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Libra
09-15 10:42 PM
where are first time contributors, Milind is waiting for so long, com on now, dont make him wait.
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paskal
07-18 06:55 PM
Both me and My wife were really impressed by the excellent work IV has done and achieved. I have made a contribution (albeit small) in the past, and will very much like to sign up for recurring contributions. We pledge to contribute $50 monthly as soon as my Wife gets her EAD. We were intending to signup for $20/month right away, to upgrade to $50/month on getting her EAD but I do not see that option anymore.
Anyways, my pledge still stands effective on the day we receive my wife's EAD.
the $20/mnth was pulled a while back- hardly anyone was signing up for monthly contributions and everyone went for the lwoest amount. all in all a shameful situation. my humble suggestion- in a lumpsome, donate the amount equivelant to 20/mnth for the next 4 mnths ie $80, then when the EAD comes you can start recurring contributions.
Anyways, my pledge still stands effective on the day we receive my wife's EAD.
the $20/mnth was pulled a while back- hardly anyone was signing up for monthly contributions and everyone went for the lwoest amount. all in all a shameful situation. my humble suggestion- in a lumpsome, donate the amount equivelant to 20/mnth for the next 4 mnths ie $80, then when the EAD comes you can start recurring contributions.
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asdqwe2k
01-10 01:56 PM
May be yes....applying greencard is required to extend the H1...having said that one has to spend huge money in applying for GC...at the same time one can also stay out of US for an year and come back if required...
well the reasons are many...and all seems to be valid...
I agree having 1 crore is sort of middle class..especially with the real estate boom in Hyderabad..you won't get a two bedroom flat in a decent area unless you pay around 20 lakhs...
on a lighter note...1 crore is just simple....for the people over there...for example my father retired in early 2004 and spent his retirement money to buy a two bedroom apartment and a small piece of land (about 10 lakhs in total)...now the apartment itself costs about 11 lakhs and land costs about another 14 lakhs.........earning/saving of about 15 lakhs in 3 years....how many of us could do that ;)
when i came to US at first i thought i would go back to india if i have 1 crore, but when time goes by, i came to know that now a days in india people who have 1 Crore are considered as Middle Class,
Who said that 1 crore is middle class in India ???
That would mean 1 billion poor people in india according to this article, and that will include you...
http://www.rediff.com/money/2004/jul/14rich.htm
http://www.realestatetimes.in/index.php?title=india_developing_more_upmarket_apa rtment&more=1&c=1&tb=1&pb=1
http://www.sunmediaonline.com/indiachroniclejuly06/newsmakers.html
India�s millionaires on the rise
India�s millionaire population in 2005 shot up by 19.3 per cent over the past year, second only to South Korea�s 21.3 per cent on world charts. The World Wealth Report, released by Merrill Lynch and Capgemini, says India had 83,000 millionaires (people with more than $1 million or Rs 4.5 crore in net financial assets, excluding their residence and consumables).
The rate at which India is producing rich people is hardly surprising, says the report. It goes on: "Also according to the most recent Goldman Sachs projections, India has the potential to become the fourth largest economy by 2025 and the third largest by 2050, behind only the United States and China."
Worldwide, the number of millionaires swelled by half a million in 2005 and there were 8.7 million of them, more than New York's population.
On the top of the charts is the US with a millionaire population of 2.67 million, nearly a third of the global millionaire population. Germany, the UK, China, Canada, Australia, Brazil, and Russia, among others, each have more than 100,000 millionaires
well the reasons are many...and all seems to be valid...
I agree having 1 crore is sort of middle class..especially with the real estate boom in Hyderabad..you won't get a two bedroom flat in a decent area unless you pay around 20 lakhs...
on a lighter note...1 crore is just simple....for the people over there...for example my father retired in early 2004 and spent his retirement money to buy a two bedroom apartment and a small piece of land (about 10 lakhs in total)...now the apartment itself costs about 11 lakhs and land costs about another 14 lakhs.........earning/saving of about 15 lakhs in 3 years....how many of us could do that ;)
when i came to US at first i thought i would go back to india if i have 1 crore, but when time goes by, i came to know that now a days in india people who have 1 Crore are considered as Middle Class,
Who said that 1 crore is middle class in India ???
That would mean 1 billion poor people in india according to this article, and that will include you...
http://www.rediff.com/money/2004/jul/14rich.htm
http://www.realestatetimes.in/index.php?title=india_developing_more_upmarket_apa rtment&more=1&c=1&tb=1&pb=1
http://www.sunmediaonline.com/indiachroniclejuly06/newsmakers.html
India�s millionaires on the rise
India�s millionaire population in 2005 shot up by 19.3 per cent over the past year, second only to South Korea�s 21.3 per cent on world charts. The World Wealth Report, released by Merrill Lynch and Capgemini, says India had 83,000 millionaires (people with more than $1 million or Rs 4.5 crore in net financial assets, excluding their residence and consumables).
The rate at which India is producing rich people is hardly surprising, says the report. It goes on: "Also according to the most recent Goldman Sachs projections, India has the potential to become the fourth largest economy by 2025 and the third largest by 2050, behind only the United States and China."
Worldwide, the number of millionaires swelled by half a million in 2005 and there were 8.7 million of them, more than New York's population.
On the top of the charts is the US with a millionaire population of 2.67 million, nearly a third of the global millionaire population. Germany, the UK, China, Canada, Australia, Brazil, and Russia, among others, each have more than 100,000 millionaires
more...
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smuggymba
08-23 09:14 AM
Only EB2-NIW (National Interest Waiver) even currently requires 10 years of work experience in the relevant field at the time of filing this is the category that does not require labor and van be self filed. The exceptional ability refers to Non US Masters folks Bachelors + 5 Years, now looks like this is bachelors + 10 years. The memo is currently not implemented Smuggymba I believe you should push your case in premium processing, probably you are not impacted though as you have a US masters (MBA). But there is no guarantee that they will not review all cases at the time of 485 once again. This memo / revised guidelines are indeed extremely scary. Kartikiran I agree with your thoughts about the direction in which things are moving.
oh it hurts....I just believed Kate and Bluekayal and became happy and now back to scary feeling.
oh it hurts....I just believed Kate and Bluekayal and became happy and now back to scary feeling.
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BPforGC
07-18 07:32 PM
Based on what my lawyer said, this is how it happens.
1. LC/I-140 processing is independent from I-485.
2. I-485 RD is critical.
3. When your date comes and when they review your application, they will check if your I-140 is approved or not. Then they will look in the application and if everything is ok (FP, background check - Name check etc) and if VISA number is available, you will get it.
If they don't have VISA numbers available, they will not process any I-485. So, availability of VISA numbers is key when they process I-485.
PD of I-140 comes into play when we have retrogression. Since they opened flood gates, all of us who apply now will go by our I-485 RD. Until substantial numbers of our applications are cleared, there is no chance that future VISA bulletins will be current. Even though future VISA bulletins show PD way earlier than your PD, your I-485 may get approved since you are in the system.
So, who ever gets to apply I-485 are in much better shape than people with PDs in 2002 or 2003 but do not file I-485 now.
REMEMBER, USCIS USUALLY DO NOT FOLLOW ORDER AND YOU HAVE TO BE VERY LUCKY OTHER THAN TURNING ALL THE RIGHT PAPER WORK.
Good luck folks.:p :confused: :rolleyes: :cool: :eek: :mad: :D
1. LC/I-140 processing is independent from I-485.
2. I-485 RD is critical.
3. When your date comes and when they review your application, they will check if your I-140 is approved or not. Then they will look in the application and if everything is ok (FP, background check - Name check etc) and if VISA number is available, you will get it.
If they don't have VISA numbers available, they will not process any I-485. So, availability of VISA numbers is key when they process I-485.
PD of I-140 comes into play when we have retrogression. Since they opened flood gates, all of us who apply now will go by our I-485 RD. Until substantial numbers of our applications are cleared, there is no chance that future VISA bulletins will be current. Even though future VISA bulletins show PD way earlier than your PD, your I-485 may get approved since you are in the system.
So, who ever gets to apply I-485 are in much better shape than people with PDs in 2002 or 2003 but do not file I-485 now.
REMEMBER, USCIS USUALLY DO NOT FOLLOW ORDER AND YOU HAVE TO BE VERY LUCKY OTHER THAN TURNING ALL THE RIGHT PAPER WORK.
Good luck folks.:p :confused: :rolleyes: :cool: :eek: :mad: :D
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Pallavi79
09-14 10:20 AM
my PD is March 2003. I filed in EB3 because all EB categories are current at that time.
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arnab221
12-12 05:49 PM
What are the chances for the PD moving to Mid 2007 by end of 2010 ? :(
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dummgelauft
03-04 02:07 PM
(1)EAD is NOT a status. Your status should be AOS, or H1B, L1, TN or whatever.
(2) I personally know more than a dozen people (including myself) who hgot mortgages, and this was not even an issue.
(3) You have a horse's ass for a lender. Just go to another bank. Countrywide is quite good, in my opinion. Go directly to them, not through a broker.
(2) I personally know more than a dozen people (including myself) who hgot mortgages, and this was not even an issue.
(3) You have a horse's ass for a lender. Just go to another bank. Countrywide is quite good, in my opinion. Go directly to them, not through a broker.
BRK
05-05 02:47 PM
Good job!
I was able to call few too and left messages for each.
Hopefully some kind of progress and approval is achieved.
I will call the remaining senators on the list in the next few days.
I was able to call few too and left messages for each.
Hopefully some kind of progress and approval is achieved.
I will call the remaining senators on the list in the next few days.
ssarathk
09-11 09:06 PM
Thanks a lot for the great efforts IV is putting to resolve this crucial matter which will make "American dream" come true for a lot of people including me.
I will surely attend the DC rally.
Thanks again!
I will surely attend the DC rally.
Thanks again!
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