hebbar77
09-10 06:42 PM
28.6% of 7% of 140,000 per quarter is 700 not 2450.
I greatly appreciate people doing visa number math. But guys, you are wasting your time. These guys dont do any math nor logic in the process.
I greatly appreciate people doing visa number math. But guys, you are wasting your time. These guys dont do any math nor logic in the process.
wallpaper Courage Quote of the Day
jthomas
03-18 11:46 AM
mmm...didnt knew about this..After living and working here for ten years, i am still in-eligible for the tax rebate...phew!!!! (filed jointly, no SSN for my wife)..maybe i will claim it all next year....I am eternally optimistic :-)
I understand your point. How about we group everybody who won't be eligible for tax rebate this year and then write letters/fax to law makers, and others working in that area.
That should make our Highly skilled immigrant community visible. Newspaper editors are always in a look out for new articles. Why don't we make an article and give it to all our local newspaper editors.
I understand your point. How about we group everybody who won't be eligible for tax rebate this year and then write letters/fax to law makers, and others working in that area.
That should make our Highly skilled immigrant community visible. Newspaper editors are always in a look out for new articles. Why don't we make an article and give it to all our local newspaper editors.
p1234
09-13 06:46 PM
I want everybody to get their GCs. but now interfiling/porting is hurting out position in the queue.
If you are not aware, a good bunch of EB3s are now trying to interfile & port their PDs which are between 2001 - 2005 to EB2.
This will potentially put tens of thousands of people in the EB2 queue before most people in EB2 who are waiting.
These people were not eligible for EB2 when they filed their own labor.. so they should NOT BE ALLOWED TO PORT THEIR OLD PDs. Sure EB3 can Interfile .. but you will get a new PD ... the date you interfile.
If we just keep looking... there will be a huge retrogression in EB2. And its not like these EB3 people will get through with the interfiling/porting. Most of them will be issued RFEs. Their labor apps will be audited and their primary EB3 apps will be cancelled. Infact, 85% of interfiling will never successfully make it through. And its not like it will help the EB3 brothers. That queue will still be long... because they are not going to withdraw their EB3 apps.
Also, while they will not succeed in interfiling/porting, they still will have their apps with USCIS and USCIS will sit on them before eventually issuing NOID. Sad part is they will count these when giving numbers to DOS for setting visa bulletins.
This PD porting is the last "not so ethical & legal" thing after labor substitution.. that we need to Put a cork on.
If we don't act now... then we can all expect to stay in AOS for the next 5 years. This holds for both EB2 and EB3.
I want everybody to get their GCs. I also am OK with the wait.
But anything that threatens my position in the queue is not acceptable.
Are you July 07 filer who got the EAD out of turn? I bet you are.
And if you are, keep your loud mouth shut! Before you pontificate, look at people and others like you who got in and created a mess!
If you are not aware, a good bunch of EB3s are now trying to interfile & port their PDs which are between 2001 - 2005 to EB2.
This will potentially put tens of thousands of people in the EB2 queue before most people in EB2 who are waiting.
These people were not eligible for EB2 when they filed their own labor.. so they should NOT BE ALLOWED TO PORT THEIR OLD PDs. Sure EB3 can Interfile .. but you will get a new PD ... the date you interfile.
If we just keep looking... there will be a huge retrogression in EB2. And its not like these EB3 people will get through with the interfiling/porting. Most of them will be issued RFEs. Their labor apps will be audited and their primary EB3 apps will be cancelled. Infact, 85% of interfiling will never successfully make it through. And its not like it will help the EB3 brothers. That queue will still be long... because they are not going to withdraw their EB3 apps.
Also, while they will not succeed in interfiling/porting, they still will have their apps with USCIS and USCIS will sit on them before eventually issuing NOID. Sad part is they will count these when giving numbers to DOS for setting visa bulletins.
This PD porting is the last "not so ethical & legal" thing after labor substitution.. that we need to Put a cork on.
If we don't act now... then we can all expect to stay in AOS for the next 5 years. This holds for both EB2 and EB3.
I want everybody to get their GCs. I also am OK with the wait.
But anything that threatens my position in the queue is not acceptable.
Are you July 07 filer who got the EAD out of turn? I bet you are.
And if you are, keep your loud mouth shut! Before you pontificate, look at people and others like you who got in and created a mess!
2011 king jr quotes on courage.
gc_on_demand
07-15 08:12 AM
Just sent 10 USD using BOA bill pay : 7YDGQ-HNRRZ
GO IV GO...
GO IV GO...
more...
jonty_11
05-01 02:31 PM
The meeting really saddens me though. That is the extent of anyone's power to get USCIS moving? Just hinting to King that the congress is displeased?
I mean I'm pretty sure King is gonna just shrug it off. Listen to how deluded the man sounds. He thinks USCIS is doing a great job, what with all that bragging about efficiency. Obviously he doesn't realize he's standing there, in that meeting. because the efficiency he's bragging about is clearly NOT ENOUGH. In fact, it's pretty much shitty.
To make things worse, those people in there are controlling the fates of thousands of waiting applicants. And they don't even seem to know the difference btw H1 and 485.
I don't want to just go on feeding this negative train of thought. I just wish something more effective can be done. Isn't there a better solution?
IV is our best chance...Lets hope the bills Iv is pushing get some floor time. I will again say that as difficult and impossible as it may sound (given election yr n'all) IV is the only entity that we can pin our hopes on.
I mean I'm pretty sure King is gonna just shrug it off. Listen to how deluded the man sounds. He thinks USCIS is doing a great job, what with all that bragging about efficiency. Obviously he doesn't realize he's standing there, in that meeting. because the efficiency he's bragging about is clearly NOT ENOUGH. In fact, it's pretty much shitty.
To make things worse, those people in there are controlling the fates of thousands of waiting applicants. And they don't even seem to know the difference btw H1 and 485.
I don't want to just go on feeding this negative train of thought. I just wish something more effective can be done. Isn't there a better solution?
IV is our best chance...Lets hope the bills Iv is pushing get some floor time. I will again say that as difficult and impossible as it may sound (given election yr n'all) IV is the only entity that we can pin our hopes on.
sumansk
12-21 05:44 PM
Hello Pappu,
I have written this article on the plight of Work visa holders.Feel free to make editions.
Here it is..
Rewards of Being a Legal Immigrant!
The spirit of this nation had always been to award hard working and law abiding people irrespective of their color, race, culture or origin. But off late there has been a rise in the anti-immigration sentiment. One reason for this is an alarming rise in the illegal immigrants in United States estimated to be around 12 million. This has led many to believe that immigrants in general are not good for the already settled (Permanent residents and Citizens) Americans and they depress economy and put burden on the economy. This is a false notion harbored by many and needs analysis. First of all there is a vast difference between a legal and an illegal immigrant. A legal immigrant or people living temporary are here to help this nation make progress and are here to contribute to the economy of this nation. They have come here on the specific request by the companies; universities and other organizations. They are unnecessarily being victimized for their status as part of the larger immigrant community. They are the most misunderstood community today among the immigrants in general.
The temporary visitors largely are H-1 B, L-1 and Business visa holders .Many of these people are here for many years and waiting for their Green Card after having applied for it. While they continue to work for the same employer waiting for their permanent residency, they feel stagnated in their career path, salaries and even on personal development front because the law does not permit them to change employer while their green card is under process. If they do change then the whole process will have to start afresh.
As one frustrated and depressed work visa holder, Rajneesh puts it ?The plight of an immigrant can only be understood by those who are in the same shoes?. A legal immigrant who is in USA is only here on invitation by the US based companies or organizations willing to legally sponsor them for reasons that they do not have enough skilled professionals to do the job. The fate of being a person waiting in queue for a Green Card was never dreamt by me unless I was a victim of such a wait myself. The whole life revolves around waiting for just one card called green card. All the life?s plans are shelved off for some future dates. Many of them wait for settlement as they fear that buying a home or property or starting their own company may be at risk if their green Card is not approved or if they are out of status and in that case they may have to leave the country. There is a constant fear lurking in their psyche that what if they are laid off when they are waiting for their visa dates to become current so that they can apply for adjustment of status. Their dependent wives cannot work legally as law does not permit them to work while on dependent visa. These in many cases have resulted in domestic violence and depressed spouses resulting in disturbed and broken families.The spouses of these legal temporary residents stay at home and feel frustrated as they are also highly educated and can tremendously contribute to the development of the nation if given an opportunity. They feel choked as they have to plan well ahead in time for visits to home country and have to keep themselves abreast with latest immigration laws and by laws. A lack of this planning and understanding has resulted in many being denied entry while trying to re-enter. There are so many issues that they have to deal with being a temporary resident here just because they chose to come to America in search of realizing the American Dream. Most of them feel as if they made a wrong decision having come to America. This has sent a negative feedback in their native countries that America is no longer a welcoming nation for temporary work visa holders and one may have to wait up to more than ten years to get permanent residency. This feedback has turned many potential high tech and software professionals elsewhere. The current wait time in Canada and Australia is less than a year. European nations are also becoming a very welcoming society for these people. So the competition to secure them is getting hot.
While the wait becomes long the anxiety and depression starts to sets in most of the cases. Many have therefore already left this country and this is a drain on the economy as they are now a part of other nation?s economic development. Many of this class of people were educated in United States and were contributing but the immigration laws have forced them to go elsewhere. This class of people have advanced degrees from either US or other countries and have an average work experience of more than 3 years.They form the top class professionals among the populatoin and their loss is a loss to this nation.America is land of opportunity and for those willing to work hard for a better future should be rewarded and taken care of, but it seems there is no one listening right now to their voice. The spirit of America seems to be getting lost somewhere.
There are organization and groups like NumbersUSA who oppose any increase in their visa numbers which can drastically help these victims of bureaucracy, but due to their short sightedness they fail to see that the same people whom they are opposed to will help increase the economic well being of this nation once they become permanent residents. This is so because once they get permanent residency, they all will move up in the ladder demanding higher salaries and thus supporting the proponents of anti-immigrants view point. Right now they are all stuck in the same state for years. This may in some case lead to their exploitation which may in fact depress wages. Their short-sightedness, misinformation and vague propaganda have created an atmosphere where the na?ve public fails to understand the difference between the real benefactors and illegal immigrants. This has led public develop an overall anti-immigrant sentient.
Presently there is a bill pending in Senate called the SKIL bill (S.2691) introduced by senator John Cornyn (TX) Co-sponsored by George Allen (R, VA), Wayne Allard (CO), Bennett Robert (UT) and others. There is another related bill introduced by John Shadegg (AZ).This bill seeks to increase the annual visa caps for Immigrants visa under Employment category, exempt students who earned masters in USA, Allows to apply for Adjustment of Status even though there may not be immediate available Visa numbers. The bill is intended to secure the American competitiveness in 21st century while countries like India, China, Australia and European countries compete for skilled man power in Software and high tech sector to secure their competitiveness. This bill will help reduce the wait times for Temporary work Visa holders helping them assimilate faster in US society and thus securing the nations? interest.
There are reforms for this class of immigrants in the much debated comprehensive immigration Reform Bill passed by Senate but congress did not pass it. These provisions got lost in the shadow of illegal immigration debate and therefore separate bills were introduced by way of SKIL Act of 2006 to take care of the plight of Temporary visa holders. By clubbing the provisions for both legal and illegal population in one bill did much harm to this community as they were totally neglected by the congressmen. These people pay taxes, social security (unfortunately cannot be claimed once they leave this country), contribute to the social causes by volunteering, donating during emergencies and they very much feel themselves a part of this nation.
But the administration failed to reform current Visa availability issue which is doing much harm to the nation.
The public is expected to understand the plight of these people and pressurize congress to pass this bill and not misunderstand the other immigration bills pending in senate which are controversial. These people deserve credit and appreciation for helping this nation and definitely needs a much awaited attention from the public and Government.
Surendra K Suman
http://surendraksuman.blogspot.com/
________
CR125M (http://www.cyclechaos.com/wiki/Honda_CR125M)
I have written this article on the plight of Work visa holders.Feel free to make editions.
Here it is..
Rewards of Being a Legal Immigrant!
The spirit of this nation had always been to award hard working and law abiding people irrespective of their color, race, culture or origin. But off late there has been a rise in the anti-immigration sentiment. One reason for this is an alarming rise in the illegal immigrants in United States estimated to be around 12 million. This has led many to believe that immigrants in general are not good for the already settled (Permanent residents and Citizens) Americans and they depress economy and put burden on the economy. This is a false notion harbored by many and needs analysis. First of all there is a vast difference between a legal and an illegal immigrant. A legal immigrant or people living temporary are here to help this nation make progress and are here to contribute to the economy of this nation. They have come here on the specific request by the companies; universities and other organizations. They are unnecessarily being victimized for their status as part of the larger immigrant community. They are the most misunderstood community today among the immigrants in general.
The temporary visitors largely are H-1 B, L-1 and Business visa holders .Many of these people are here for many years and waiting for their Green Card after having applied for it. While they continue to work for the same employer waiting for their permanent residency, they feel stagnated in their career path, salaries and even on personal development front because the law does not permit them to change employer while their green card is under process. If they do change then the whole process will have to start afresh.
As one frustrated and depressed work visa holder, Rajneesh puts it ?The plight of an immigrant can only be understood by those who are in the same shoes?. A legal immigrant who is in USA is only here on invitation by the US based companies or organizations willing to legally sponsor them for reasons that they do not have enough skilled professionals to do the job. The fate of being a person waiting in queue for a Green Card was never dreamt by me unless I was a victim of such a wait myself. The whole life revolves around waiting for just one card called green card. All the life?s plans are shelved off for some future dates. Many of them wait for settlement as they fear that buying a home or property or starting their own company may be at risk if their green Card is not approved or if they are out of status and in that case they may have to leave the country. There is a constant fear lurking in their psyche that what if they are laid off when they are waiting for their visa dates to become current so that they can apply for adjustment of status. Their dependent wives cannot work legally as law does not permit them to work while on dependent visa. These in many cases have resulted in domestic violence and depressed spouses resulting in disturbed and broken families.The spouses of these legal temporary residents stay at home and feel frustrated as they are also highly educated and can tremendously contribute to the development of the nation if given an opportunity. They feel choked as they have to plan well ahead in time for visits to home country and have to keep themselves abreast with latest immigration laws and by laws. A lack of this planning and understanding has resulted in many being denied entry while trying to re-enter. There are so many issues that they have to deal with being a temporary resident here just because they chose to come to America in search of realizing the American Dream. Most of them feel as if they made a wrong decision having come to America. This has sent a negative feedback in their native countries that America is no longer a welcoming nation for temporary work visa holders and one may have to wait up to more than ten years to get permanent residency. This feedback has turned many potential high tech and software professionals elsewhere. The current wait time in Canada and Australia is less than a year. European nations are also becoming a very welcoming society for these people. So the competition to secure them is getting hot.
While the wait becomes long the anxiety and depression starts to sets in most of the cases. Many have therefore already left this country and this is a drain on the economy as they are now a part of other nation?s economic development. Many of this class of people were educated in United States and were contributing but the immigration laws have forced them to go elsewhere. This class of people have advanced degrees from either US or other countries and have an average work experience of more than 3 years.They form the top class professionals among the populatoin and their loss is a loss to this nation.America is land of opportunity and for those willing to work hard for a better future should be rewarded and taken care of, but it seems there is no one listening right now to their voice. The spirit of America seems to be getting lost somewhere.
There are organization and groups like NumbersUSA who oppose any increase in their visa numbers which can drastically help these victims of bureaucracy, but due to their short sightedness they fail to see that the same people whom they are opposed to will help increase the economic well being of this nation once they become permanent residents. This is so because once they get permanent residency, they all will move up in the ladder demanding higher salaries and thus supporting the proponents of anti-immigrants view point. Right now they are all stuck in the same state for years. This may in some case lead to their exploitation which may in fact depress wages. Their short-sightedness, misinformation and vague propaganda have created an atmosphere where the na?ve public fails to understand the difference between the real benefactors and illegal immigrants. This has led public develop an overall anti-immigrant sentient.
Presently there is a bill pending in Senate called the SKIL bill (S.2691) introduced by senator John Cornyn (TX) Co-sponsored by George Allen (R, VA), Wayne Allard (CO), Bennett Robert (UT) and others. There is another related bill introduced by John Shadegg (AZ).This bill seeks to increase the annual visa caps for Immigrants visa under Employment category, exempt students who earned masters in USA, Allows to apply for Adjustment of Status even though there may not be immediate available Visa numbers. The bill is intended to secure the American competitiveness in 21st century while countries like India, China, Australia and European countries compete for skilled man power in Software and high tech sector to secure their competitiveness. This bill will help reduce the wait times for Temporary work Visa holders helping them assimilate faster in US society and thus securing the nations? interest.
There are reforms for this class of immigrants in the much debated comprehensive immigration Reform Bill passed by Senate but congress did not pass it. These provisions got lost in the shadow of illegal immigration debate and therefore separate bills were introduced by way of SKIL Act of 2006 to take care of the plight of Temporary visa holders. By clubbing the provisions for both legal and illegal population in one bill did much harm to this community as they were totally neglected by the congressmen. These people pay taxes, social security (unfortunately cannot be claimed once they leave this country), contribute to the social causes by volunteering, donating during emergencies and they very much feel themselves a part of this nation.
But the administration failed to reform current Visa availability issue which is doing much harm to the nation.
The public is expected to understand the plight of these people and pressurize congress to pass this bill and not misunderstand the other immigration bills pending in senate which are controversial. These people deserve credit and appreciation for helping this nation and definitely needs a much awaited attention from the public and Government.
Surendra K Suman
http://surendraksuman.blogspot.com/
________
CR125M (http://www.cyclechaos.com/wiki/Honda_CR125M)
more...
arnab221
11-09 01:26 PM
Thanks to the glorious service of the Atlanta center :mad: I missed the I-485 bus by 7 days( Labor cleared on Aug end ). Many people with later PD's got cleared from the Chicago PERM center . Now I just watch as all members get their EAD's and AP's while I wait with nothing but hope and watch legislation after legislation fail in the senate and house , and the letters flying all over the place .
2010 king jr quotes on courage.
ragz4u
03-08 02:05 PM
He has asked the absent senators via staffers that if they do not want to come to hearings, they can leave this committee and let others take their place. Apparently they need atleast one democrat to proceed.
He is waiting for atleast one more senator to turn up before 3.15 pm else hearing will be adjourned
Senator Cornyn is offering a new amendment now (#6107 ) illegal aliens convicted in felony cannot file for petition for spouse...again this is not related to us
He is waiting for atleast one more senator to turn up before 3.15 pm else hearing will be adjourned
Senator Cornyn is offering a new amendment now (#6107 ) illegal aliens convicted in felony cannot file for petition for spouse...again this is not related to us
more...
makemygc
07-06 01:09 PM
Thats what he is saying.. he is an expensive lawyer...
and about crap---who the hell are you to decide... if you dont like then just ignore the post...
I'm sure he is an expensive lawyer....care to expose his name?
What happened to his prediction on 12:15AM stuff in your last post. Can you please ask him?
and about crap---who the hell are you to decide... if you dont like then just ignore the post...
I'm sure he is an expensive lawyer....care to expose his name?
What happened to his prediction on 12:15AM stuff in your last post. Can you please ask him?
hair Motivational Quotes on Courage
Gravitation
09-29 01:30 AM
2009 is VERY OPTIMISTIC. Why would a new administration take up "touchy" issue like immigration in its 1st year (2009)? Least we can expect is 2010 IF NOTHING HAPPENS BY MID NOVEMBER - Congress goes to recess for the year.The window of opportunity is short!
2010 is again an election year. As they say, things happen in DC only in "odd" years. It could be 2009, 2011, 2013... who knows.
If I don't get my GC till 2015... I'm really gonna do something about it!! There's a limit to everything, damn it.:mad:
Gravitation
PS: Disclaimer: for the simple minded ones: my last sentence is sarcastic humor... not a reality... clarifying further... because, I'm already active... not because I'm not gonna do anything even in 2015. Amen.
2010 is again an election year. As they say, things happen in DC only in "odd" years. It could be 2009, 2011, 2013... who knows.
If I don't get my GC till 2015... I'm really gonna do something about it!! There's a limit to everything, damn it.:mad:
Gravitation
PS: Disclaimer: for the simple minded ones: my last sentence is sarcastic humor... not a reality... clarifying further... because, I'm already active... not because I'm not gonna do anything even in 2015. Amen.
more...
ags123
03-07 02:08 AM
bump
hot Inspirational Quotes
franklin
09-28 08:57 PM
But I think franklin posted earlier that she got her GC when the priority dates are not current. And shows about 5 EB3s from India got approvals during September whos PDs are on or after 2003.Do you think USCIS might have requested the visa number for their cases when their PD was current?
Theory 1: I got assigned a visa number as soon as my case arrived at USCIS in early June.
Theory 2: Spend as much time talking to lawmakers and reporters as I do, they want to shut that squeaky wheel up.
I like Theory 2 best :)
I would say, however, just because a handful of applications have been speedy, I don't see any systematic changes that mean everyone's will be.
Theory 1: I got assigned a visa number as soon as my case arrived at USCIS in early June.
Theory 2: Spend as much time talking to lawmakers and reporters as I do, they want to shut that squeaky wheel up.
I like Theory 2 best :)
I would say, however, just because a handful of applications have been speedy, I don't see any systematic changes that mean everyone's will be.
more...
house Quotes. #39;With courage you
Ind_murali
09-02 05:56 PM
Arrived in the US in Dec 1999
Started the GC process in late 2002.
Labor filed in Mar 2003 under EB3 category
Waiting...
Started the GC process in late 2002.
Labor filed in Mar 2003 under EB3 category
Waiting...
tattoo and courage. ible quotes
willwin
04-01 11:53 AM
If the system is flawed, any effort to work it out to get things done would seem incompetent and inefficient. First off, this guessing game by USCIS of estimating visa applications and asking for visa numbers from DHS is so neondartal and ridiculous.
Process must be automated and centralized to eliminate any human intervention in performing guesstimates. A pool of visas must be made available in the system and must remain available for the next year to be carried over if needs be. That would eliminate pressure on officials to play the game in the dark and rush like maniacs at the end of the fiscal year to catch frogs!
With all the revenue and system they have, do you think this is so tough to streamline? I doubt.
They can, at the minimum, have the cases in sequence, process per FIFO, control PD movements logically. The minimum they can do, easily.
Process must be automated and centralized to eliminate any human intervention in performing guesstimates. A pool of visas must be made available in the system and must remain available for the next year to be carried over if needs be. That would eliminate pressure on officials to play the game in the dark and rush like maniacs at the end of the fiscal year to catch frogs!
With all the revenue and system they have, do you think this is so tough to streamline? I doubt.
They can, at the minimum, have the cases in sequence, process per FIFO, control PD movements logically. The minimum they can do, easily.
more...
pictures Courage is not the absence of
Lacris
08-12 12:53 AM
one of those who got labor approved fast from BEC...and slipped thru quickly....yes, I mean quickly even though it took 2.5 years
What BEC? BECs were established in March 2005.
What BEC? BECs were established in March 2005.
dresses quotes on courage.
hiralal
05-29 12:05 AM
if your loan is denied while on EAD ..count yourself as lucky !!!
my advice ..be careful before you take a plunge when on EAD or on temporary visa (H1).
-----------------
MONDAY, MAY 25, 2009
OTHER VOICES
The Housing Hurricane Will Howl Again
By MIKE MORGAN | MORE ARTICLES BY AUTHOR
This is only a lull in the housing hurricane.
WE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices
For the past few months there has been a semi-moratorium on foreclosures. Most institutions with delinquent mortgages didn't foreclose. The signs that blanket many neighborhoods have been posted by a fraction of the lenders. Now the rest of the banks are rushing to get their properties on the market.
[ov]
Christoph Hitz for Barron's
We're still supporting misguided programs that only add to inventory woes. They encourage builders to put up more homes and penalize anyone else trying to sell a home.
As a Florida real-estate broker who works with bank asset managers to dispose of foreclosed properties, I get a good view of this market. From December 2008 through mid-March 2009, the number of asset managers calling to discuss REO (real estate owned) properties on their client banks' books dropped by more than 80% from the level at which it previously had been running. In the past two months, however, asset managers have been busy, with most interested in how many properties we could handle at once.
Law firms for banks are once again lining up to file foreclosures and to process evictions. The asset managers we work with have warned us to expect a flood of properties, beginning in early June. This will hit as the number of potential buyers continues to dwindle. Builders, traditional sellers and investors who entered too early are already loaded with REO properties.
ALL OF THE OBAMA administration's attempts to revive, resuscitate and shock the housing markets into recovery have failed. Potential buyers can't purchase homes when they are losing their jobs, regardless of how attractive the credits and mortgages are. The price of homes will continue to fall until the properties are affordable for potential buyers.
If an investor could purchase a home and rent it out for close to breakeven, we might be getting close to a bottom. But we are nowhere close to that level in most critical markets. Until it is approached, prices will continue to fall. In fact, the negative cash flow now evident, along with the flood of properties coming into the inventory pool, warn of lower prices.
There's no light at the end of the tunnel yet. We're still supporting builders through misguided programs that are only adding to the inventory woes. California decided to offer a $10,000 credit to buyers of new homes, on top of the $8,000 federal credit. But California made the $10,000 available only for new homes purchased directly from builders. That shows the power of the builders' lobby, but it only adds to California's housing-industry problem. It encourages builders to construct dwellings we don't need, and it penalizes anyone else trying to sell a home.
Housing inventory soon will flood a market in which more than 500,000 homes are being built each year, even though the annual sales pace for new homes is closer to 300,000. We must also deal with a system clogged with impossible short sales, a surge of second and vacation homes being dumped, and third-wave flippers realizing that they entered the market too soon.
FOR THE BANKS, the back half of the hurricane will destroy balance sheets, unless the Obama administration comes up with another plan to mythically mark these assets on the books. Or we might see some chimerical plan to write down mortgage payments, or move toxic mortgages into a dark pool, or create some new illusion that glosses over the problem.
Our experience with banks' selling REOs is they realize about 50%-75% of what they initially think they will get. Moreover, their expenses to bring these properties to market and manage them are growing. Court systems bogged down with foreclosures are raising fees so that they can hire additional staff. More and more homeowners being evicted are stripping homes to the bone, removing appliances, fixtures, carpet, cabinets, air handlers, motorized garage-door openers and anything else that they can carry off or sell.
Unemployment presents a two-pronged problem. If homeowners lose their jobs, they have difficulty meeting mortgage payments. And a high jobless rate forces more people to put their homes on the market.
During the housing bubble, many second homes were purchased with the mythical equity from primary residences. These second homes are coming onto the market at an alarming rate, as many middle- and upper-class sellers need to raise cash. In some very exclusive private communities in Florida, where home prices are in the seven figures, more than 50% of the homes are on the market. (For more on the vacation-home market, see Cover Story.)
Unfortunately, there are no signs of recovery, despite the hype and the twisting of numbers in many media reports. The end of the unofficial moratorium on foreclosures, combined with rising unemployment, signals that the back half of this housing hurricane is only just beginning.
my advice ..be careful before you take a plunge when on EAD or on temporary visa (H1).
-----------------
MONDAY, MAY 25, 2009
OTHER VOICES
The Housing Hurricane Will Howl Again
By MIKE MORGAN | MORE ARTICLES BY AUTHOR
This is only a lull in the housing hurricane.
WE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices
For the past few months there has been a semi-moratorium on foreclosures. Most institutions with delinquent mortgages didn't foreclose. The signs that blanket many neighborhoods have been posted by a fraction of the lenders. Now the rest of the banks are rushing to get their properties on the market.
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Christoph Hitz for Barron's
We're still supporting misguided programs that only add to inventory woes. They encourage builders to put up more homes and penalize anyone else trying to sell a home.
As a Florida real-estate broker who works with bank asset managers to dispose of foreclosed properties, I get a good view of this market. From December 2008 through mid-March 2009, the number of asset managers calling to discuss REO (real estate owned) properties on their client banks' books dropped by more than 80% from the level at which it previously had been running. In the past two months, however, asset managers have been busy, with most interested in how many properties we could handle at once.
Law firms for banks are once again lining up to file foreclosures and to process evictions. The asset managers we work with have warned us to expect a flood of properties, beginning in early June. This will hit as the number of potential buyers continues to dwindle. Builders, traditional sellers and investors who entered too early are already loaded with REO properties.
ALL OF THE OBAMA administration's attempts to revive, resuscitate and shock the housing markets into recovery have failed. Potential buyers can't purchase homes when they are losing their jobs, regardless of how attractive the credits and mortgages are. The price of homes will continue to fall until the properties are affordable for potential buyers.
If an investor could purchase a home and rent it out for close to breakeven, we might be getting close to a bottom. But we are nowhere close to that level in most critical markets. Until it is approached, prices will continue to fall. In fact, the negative cash flow now evident, along with the flood of properties coming into the inventory pool, warn of lower prices.
There's no light at the end of the tunnel yet. We're still supporting builders through misguided programs that are only adding to the inventory woes. California decided to offer a $10,000 credit to buyers of new homes, on top of the $8,000 federal credit. But California made the $10,000 available only for new homes purchased directly from builders. That shows the power of the builders' lobby, but it only adds to California's housing-industry problem. It encourages builders to construct dwellings we don't need, and it penalizes anyone else trying to sell a home.
Housing inventory soon will flood a market in which more than 500,000 homes are being built each year, even though the annual sales pace for new homes is closer to 300,000. We must also deal with a system clogged with impossible short sales, a surge of second and vacation homes being dumped, and third-wave flippers realizing that they entered the market too soon.
FOR THE BANKS, the back half of the hurricane will destroy balance sheets, unless the Obama administration comes up with another plan to mythically mark these assets on the books. Or we might see some chimerical plan to write down mortgage payments, or move toxic mortgages into a dark pool, or create some new illusion that glosses over the problem.
Our experience with banks' selling REOs is they realize about 50%-75% of what they initially think they will get. Moreover, their expenses to bring these properties to market and manage them are growing. Court systems bogged down with foreclosures are raising fees so that they can hire additional staff. More and more homeowners being evicted are stripping homes to the bone, removing appliances, fixtures, carpet, cabinets, air handlers, motorized garage-door openers and anything else that they can carry off or sell.
Unemployment presents a two-pronged problem. If homeowners lose their jobs, they have difficulty meeting mortgage payments. And a high jobless rate forces more people to put their homes on the market.
During the housing bubble, many second homes were purchased with the mythical equity from primary residences. These second homes are coming onto the market at an alarming rate, as many middle- and upper-class sellers need to raise cash. In some very exclusive private communities in Florida, where home prices are in the seven figures, more than 50% of the homes are on the market. (For more on the vacation-home market, see Cover Story.)
Unfortunately, there are no signs of recovery, despite the hype and the twisting of numbers in many media reports. The end of the unofficial moratorium on foreclosures, combined with rising unemployment, signals that the back half of this housing hurricane is only just beginning.
more...
makeup Martin Luther King Jr. Quotes
MDix
03-03 11:16 AM
I don't think EB3-I would be U for more than a month, as I keep saying this year EB3 would be getting some share of spill-over. So even if it becomes U for April that would be temporarily and it would return back in May.
I agree. EB3-I would go U for rest of the year.
Thank's
MDix
I agree. EB3-I would go U for rest of the year.
Thank's
MDix
girlfriend Courage quote
Jimi_Hendrix
11-10 09:53 AM
We now have 5 members in Southern California who have shown interest in participating State Chapter work. I think that is a great start. Thanks for your postings. Once the core team gives us a set of responsibilities we can start rolling.
Thanks.
Thanks.
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Winner
06-10 09:32 AM
IF you've not called already, the visa bulletin is probably a very good reason for you to call :
http://immigrationvoice.org/forum/showthread.php?t=19387
-V
Predicting and hoping that things will get better is not going to help. Lets take action. Please call the lawmakers if you have not done it already.
http://immigrationvoice.org/forum/showthread.php?t=19387
-V
Predicting and hoping that things will get better is not going to help. Lets take action. Please call the lawmakers if you have not done it already.
gemini23
08-02 03:44 PM
awesome kondo. This gives me good and warm feeling. that they are working hard.
maddipati1
11-19 11:09 PM
This scenarios is for those who used all 6 years on H1 and got H1 extension due to a pending AOS application. they may have EADs too..
Ron Gocher quotes:
"Again, to be clear, my point is that if your AOS is denied, you immediately lose all eligibility for post sixth year extensions of H status. All time spent in H status counts against the six year limit. If you burn up time in H status while you are waiting for an AOS adjudication, you may well make it impossible to go back into H status if your AOS is denied."
My interpret...
Rule 1 :
> The max limit for H1 is only 6 years.
> You can only extend H1 beyond 6 years if there is a pending AOS
this means if there is no pending AOS, u r not eligible for H1.
On thing is clear, if AOS denial is valid, then thats it, no more H1 (after 6yrs)
but surprisingly Ron doesnt use the same logic for EAD too.
> EAD is also given as a temp relief for those who has pending AOS
so if there is no pending AOS, no more EAD too.
he thinks EAD is valid even after AOS valid Denial.
THe BIG QUESTION is, If AOS is wrongly denied and MTR is open,
What is the status of the dude?
Is the status AOS, coz its been denied already...
But again, if the dude's out of status due to AOS denial,
how come CIS allow to file MTR? Coz they know the guy who is
filing MTR is out-of-status due to AOS denial :-)
Its like a software u tested a lot with all kind of scenarios,
but there is one scenario still not tested.
Like in software, the dudes who initially wrote the code and the dudes who initially spcified requirements, are long gone to a different jobs. and after a few years (5,10 etc), a new set of dudes trying to wonder why this scenarios is missed, coz the whole biz process is already changed totally.
so, the dudes who wrote these rules and regulations are long gone and retired. and there are hell lot of things changed afterwards like AC21 etc etc.
thats is why systems need to be re-evaluated in a regular basis.
can this shit be any more tangled.... :-)
Ron Gocher quotes:
"Again, to be clear, my point is that if your AOS is denied, you immediately lose all eligibility for post sixth year extensions of H status. All time spent in H status counts against the six year limit. If you burn up time in H status while you are waiting for an AOS adjudication, you may well make it impossible to go back into H status if your AOS is denied."
My interpret...
Rule 1 :
> The max limit for H1 is only 6 years.
> You can only extend H1 beyond 6 years if there is a pending AOS
this means if there is no pending AOS, u r not eligible for H1.
On thing is clear, if AOS denial is valid, then thats it, no more H1 (after 6yrs)
but surprisingly Ron doesnt use the same logic for EAD too.
> EAD is also given as a temp relief for those who has pending AOS
so if there is no pending AOS, no more EAD too.
he thinks EAD is valid even after AOS valid Denial.
THe BIG QUESTION is, If AOS is wrongly denied and MTR is open,
What is the status of the dude?
Is the status AOS, coz its been denied already...
But again, if the dude's out of status due to AOS denial,
how come CIS allow to file MTR? Coz they know the guy who is
filing MTR is out-of-status due to AOS denial :-)
Its like a software u tested a lot with all kind of scenarios,
but there is one scenario still not tested.
Like in software, the dudes who initially wrote the code and the dudes who initially spcified requirements, are long gone to a different jobs. and after a few years (5,10 etc), a new set of dudes trying to wonder why this scenarios is missed, coz the whole biz process is already changed totally.
so, the dudes who wrote these rules and regulations are long gone and retired. and there are hell lot of things changed afterwards like AC21 etc etc.
thats is why systems need to be re-evaluated in a regular basis.
can this shit be any more tangled.... :-)
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