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.)
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diptam
08-05 11:04 AM
lonedesi,
I saw your post last night and have some changes in mind for the NSC letter. But right now I'm working on having the 7001 piece out from my employer - hope others are doing that as well.
Thanks again for the initiative - Its always better to speak up about your pain rather than remaining silent.
Thanks!
Members, who were complaining about the slow processing of I-140's at TSC & NSC, now is the time to stand up and get counted. Please take the time to review the letter and then mail the DHS Form 7001 along with the letter to USCIS Ombudsman's office.
Members who have already done so, please encourage others suffering from these delays to join this campaign to make it effective. Also, please post on this thread once you have mailed the letters, so that others get motivated to join.
I saw your post last night and have some changes in mind for the NSC letter. But right now I'm working on having the 7001 piece out from my employer - hope others are doing that as well.
Thanks again for the initiative - Its always better to speak up about your pain rather than remaining silent.
Thanks!
Members, who were complaining about the slow processing of I-140's at TSC & NSC, now is the time to stand up and get counted. Please take the time to review the letter and then mail the DHS Form 7001 along with the letter to USCIS Ombudsman's office.
Members who have already done so, please encourage others suffering from these delays to join this campaign to make it effective. Also, please post on this thread once you have mailed the letters, so that others get motivated to join.
santb1975
06-02 09:35 PM
This is Great
Contributed $100 for June
Receipt ID: 47W850****
Contributed $100 for June
Receipt ID: 47W850****
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gc_on_demand
06-10 01:40 PM
In the last several months, the worldwide demand for immigrant visas in the EB-2 category has been lower than the State Department expected. To make sure that all available EB-2 immigrant visas are used, DOS has, since April, made some unused worldwide numbers available for China and India and will continue to do so in July. If worldwide demand for these visas increases, however, DOS could impose cut-off dates or declare the China or India EB-2 category unavailable, as it did for India in February 2008, possibly even in the middle of the month
What are chances of Eb2 india will become unavailbale. Core members is there any companign that we can do to move this thing forwards. I called CHC and local lawmakers.
What are chances of Eb2 india will become unavailbale. Core members is there any companign that we can do to move this thing forwards. I called CHC and local lawmakers.
more...
ocpmachine
09-08 11:46 AM
On my recent visit to Bangalore, i got in touch with a real estate developer(who is also a far relative), here is what he told me. First thing any developer does is to put up a website with some pretty pictures of layout and details like floor plan, location etc. This is the first step in attracting NRI's, he told me when he talks to NRI's, the first question they ask is the URL of the project. No wonder, most of the RE developer in recent times have a website, some of the website are a joke with absolutely no details and the rosy pictures of moon, lakes, birds, parks etc :-))
80% of his customers are NRI's, 10% are local goonda's/politician and rest 10% are common people...I was surprised to hear that some NRI's have bought/booked plots just by looking at the website and remitting money from USA...what happened to old school days of personally visiting, checking paperwork,Vaastu, getting opinions of relatives/friends before buying anything...what is the hurry here is beyond me???
I feel, this whole RE market in INDIA is a scam where RE developers are playing a game and targetting NRI's who are easy a prey...
80% of his customers are NRI's, 10% are local goonda's/politician and rest 10% are common people...I was surprised to hear that some NRI's have bought/booked plots just by looking at the website and remitting money from USA...what happened to old school days of personally visiting, checking paperwork,Vaastu, getting opinions of relatives/friends before buying anything...what is the hurry here is beyond me???
I feel, this whole RE market in INDIA is a scam where RE developers are playing a game and targetting NRI's who are easy a prey...
sheelalann
05-21 12:53 PM
when porting always send a letter requesting old priority date
more...
pappu
12-16 03:37 PM
I'snt tracker broken (Sorting by PD ) for some time now.
We will improve it soon. But the data is still useful.
We will improve it soon. But the data is still useful.
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yoyo12
07-28 09:39 PM
Hi everybody,
I want to know if somebody knows what is going on with Atlanta perm lab center?I applied in Feb 2007 for perm labor and I checked my staus online almost every day.In jUNE 2007 IT SAID ''CERTIFIED''.My lawyer was waiting for the paper in mail..I checked again the status in July 2007and it said ''In progress''.Can somebody explain for me why is like that? What advice do you give me?
Thank you very much....
I want to know if somebody knows what is going on with Atlanta perm lab center?I applied in Feb 2007 for perm labor and I checked my staus online almost every day.In jUNE 2007 IT SAID ''CERTIFIED''.My lawyer was waiting for the paper in mail..I checked again the status in July 2007and it said ''In progress''.Can somebody explain for me why is like that? What advice do you give me?
Thank you very much....
more...
Green.Tech
05-26 11:21 AM
Where are all the contributors? Wake up guys! EAD is not going to solve GC problems!
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ink_123
07-18 06:45 PM
Will do more in the future. Thanks IV for all your efforts
more...
pappu
06-04 01:59 PM
One one hand you have folks who are getting labor approvals from BECs just now and have not filed I-140s.
On other hand you have PERM folks who have Labor, I-140 certified in 2 weeks.
Don't you think this provision is a bit harsh on those who've waited 3+ years for labor in BECs ?
Not a bit harsh but very harsh. There are cases of people who have waited for 5 years and are still stuck in BEC. Now if this bill passes, they will have to apply all over again. There are also people who have gone through the PERM process and have not applied I140. Sometimes PERM process can take upto 1 year if the HR and Lawyer is slow in the recruitment process and unresponsive.
On other hand you have PERM folks who have Labor, I-140 certified in 2 weeks.
Don't you think this provision is a bit harsh on those who've waited 3+ years for labor in BECs ?
Not a bit harsh but very harsh. There are cases of people who have waited for 5 years and are still stuck in BEC. Now if this bill passes, they will have to apply all over again. There are also people who have gone through the PERM process and have not applied I140. Sometimes PERM process can take upto 1 year if the HR and Lawyer is slow in the recruitment process and unresponsive.
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immm
07-18 06:00 PM
I have not received the physical receipt notice yet. But the online case status says "On July 11, 2007, we received this I485 APPLICATION" even though it was physically delivered and signed at Nebraska Service center on June, 15th. I will post once I get the physical copy of receipt notice to update every one.
May be some others that have already received the physical copy of receipt notices can clarify the difference between the receipt date on the notice vs. the online status that says ""On July 11, 2007, we received..."
UPDATE: shreekhand's post above from moments ago seems to have answered this question.
What does it say on your I485 receipt notice?
For example.. my app was mailed on 5/31 and RD on receipt notice is 6/4 and Notice date is 6/6 and Online case status says received on 6/5. I assume 6/5 is when USCIS created an entry for my case and 6/6 (my checks were also cashed on 6/6) is when receipt notice is actually generated. Some one correct me if I am wrong.
My application was sent on June, 14th and delivered on June 15th (I have the FedEx tracking info and signature page confirming 6/15).
The case status online based on receipt number (obtained by calling them a few times until I got lucky) says:
"On July 11, 2007, we received this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS, and mailed you a notice describing how we will process your case."
Not sure if the online status is referring to the receipt date or the notice date when it says "On July 11, 2007, we received" when, in fact, they received it on June 15th!!
May be some others that have already received the physical copy of receipt notices can clarify the difference between the receipt date on the notice vs. the online status that says ""On July 11, 2007, we received..."
UPDATE: shreekhand's post above from moments ago seems to have answered this question.
What does it say on your I485 receipt notice?
For example.. my app was mailed on 5/31 and RD on receipt notice is 6/4 and Notice date is 6/6 and Online case status says received on 6/5. I assume 6/5 is when USCIS created an entry for my case and 6/6 (my checks were also cashed on 6/6) is when receipt notice is actually generated. Some one correct me if I am wrong.
My application was sent on June, 14th and delivered on June 15th (I have the FedEx tracking info and signature page confirming 6/15).
The case status online based on receipt number (obtained by calling them a few times until I got lucky) says:
"On July 11, 2007, we received this I485 APPLICATION TO REGISTER PERMANENT RESIDENCE OR TO ADJUST STATUS, and mailed you a notice describing how we will process your case."
Not sure if the online status is referring to the receipt date or the notice date when it says "On July 11, 2007, we received" when, in fact, they received it on June 15th!!
more...
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hopefullegalimmigrant
12-28 09:06 AM
Unfortunately this is not necessarily true. My receipt date is Sep 18. That is the reason I am asking around.
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farhad
08-19 09:04 AM
I am out of state visa screened nurse after having a hard time passing the cgfns and other reqirment my sponser has filed me I-140 on 31th april 2007, I dont know why but they didnt give me the center name in which they file the petition, or recipt no., my questions are:
how long will it take to recieve the GC?
do you think the condition will improve for RNs in the future?
how can I find my case number without asking my sponser?
how long will it take to recieve the GC?
do you think the condition will improve for RNs in the future?
how can I find my case number without asking my sponser?
more...
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valuablehurdle
06-21 11:32 AM
Checked with my lawyer. 20 cases pending since January. Atlanta..
My Labor was filed April 15th, 2007. EB2. 'In process'.
My Labor was filed April 15th, 2007. EB2. 'In process'.
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newuser
09-11 04:00 PM
I second that.
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anantc
09-08 12:07 PM
Yes. Is there any Legislation/or anything that can be worked on to make it a Law for getting Citizenship application eligibility after 5 years (or 6 years considering time to process fingerprint/medical/etc..) of I-485 application Provided, it is been Pending for years becoz of Visa-Unavailability from state.
Does any one among the Core IV committee aware or any such point?
Does any one among the Core IV committee aware or any such point?
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onemay
04-26 09:41 PM
Hi folks,
I'm a desperate house spouse(H4) and now not only I can't work but I can't drive either because the current visa expires on May 10 and the new extension is not here yet. The folks at DMV didn't wanna give an extension for the DL unless I bring a new I 94. Now the poor H1 has to do 2 jobs
1. work his but off at work to get GC
2. drive the kids up and down, do the shopping, etc etc because the desperate h4 can't move a finger.
Anyone in the same barrel?
Please give some toughts.:rolleyes:
I'm a desperate house spouse(H4) and now not only I can't work but I can't drive either because the current visa expires on May 10 and the new extension is not here yet. The folks at DMV didn't wanna give an extension for the DL unless I bring a new I 94. Now the poor H1 has to do 2 jobs
1. work his but off at work to get GC
2. drive the kids up and down, do the shopping, etc etc because the desperate h4 can't move a finger.
Anyone in the same barrel?
Please give some toughts.:rolleyes:
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hopefullegalimmigrant
01-07 02:58 PM
The agony is understandable. Even I set my vacation based on an anticipatory AP receipt. I even asked around what are the various methods for accountability that we can hope for but one one seemed to respond excpect for one or two members.
WeldonSprings
05-02 01:52 PM
One interesting thing from the anti-immigrant community represented by Steve King in this testimony was when he asked the Visa Division Chief, that -How many immigrants have we admitted to the United States between 1992-2006 who were refugees and asylees, that were not counted in the annual numerical limit? So, he basically wants to overwrite the Visa Recapture bill, by saying that since we admitted 'refugees and asylees' which were outside the limit, then there is no need to recapture unused visas, since those unused numbers have already been offset by refugees and asylees.
1. Another reply was If we use All permitted unsed visa, Where would we be in terms of EB visa. His response was Probably china/India Second category will be clear.
2. According to Him 65% of visa has been used for this year. less amount of visa remain now for this year. We shouldn't expect miracle for this year at least.
3. Let Join hands together and follow the HSMP people did in UK.
1. Another reply was If we use All permitted unsed visa, Where would we be in terms of EB visa. His response was Probably china/India Second category will be clear.
2. According to Him 65% of visa has been used for this year. less amount of visa remain now for this year. We shouldn't expect miracle for this year at least.
3. Let Join hands together and follow the HSMP people did in UK.
raysaikat
01-07 01:04 AM
raysaikat, and others, can we call a truce and focus on the original intent of the thread? I am sure we can all agree that the top 5 % of the worst university (does not matter which, or where) are usually better than the bottom 5 % of the best university (again, does not matter).
In my life, in our company, I've seen some of the sharpest brains around (PhDs working for the Russian defence before they defected in late 70's and early 80's) and some of the dumbest (a mechanical engineer who refused to believe me when I mentioned the sun was approximately 300000 bigger than the earth in terms of mass and 1000000 times bigger in terms of volume). Believe it or not, I've met a taxi driver who graduated from an Ivy League institution and used to work at NASA in 60s and 70s and worked on developing algorithms for decompressing transmissions. There are all sorts who make the world a pretty interesting, if unpredictable place. :)
You never know whom you are sitting next to on the plane! ;)
Rather than arguing over silly matters, perhaps we should focus on intelligent analysis and if necessary, rebuttal of arguments.
We do not prove anything by arguing over IIT vs Osmania, or North Vs South, but merely conform the worst aspects of Prof. Wadhwa's sweeping generalizations.
I, for one, have serious questions:
A) The video was edited. It is a collection of sound bites. How do we know the context of the statements if we do not have the full transcript?
B) We have no visuals of the charts and figures referred to by Prof Wadhwa.
C) We have no access to the raw data used by Prof. Wadhwa. He may had published it, but I have not seen any of it. (Unless Macaca can ferret out the details.. if anyone can, he is the man!). I have, for instance, basic questions whether immigrants and foreign students were excluded when he (Wadhwa) was counting the openings filled and engineers graduated in US.
I do not mean to offend anyone, nor am I commenting on any country, university, or anything.. so please do not misunderstand me. Let us focus on the what is more important.
I browsed through Wadhwa's paper. My impression is that he has used ASEE data for the U.S. and very likely it includes international students. Can anyone send him an email and seek clarification?
I have access to ASEE database, but I cannot share the excel files. I can however post summary informations.
2006:
Total M.S. 38880
Foreign 15533
Total B.S. 74186
Foreign 5345
I can also report data by disciplines, among other things. But it is a bit tedious to do so.
In my life, in our company, I've seen some of the sharpest brains around (PhDs working for the Russian defence before they defected in late 70's and early 80's) and some of the dumbest (a mechanical engineer who refused to believe me when I mentioned the sun was approximately 300000 bigger than the earth in terms of mass and 1000000 times bigger in terms of volume). Believe it or not, I've met a taxi driver who graduated from an Ivy League institution and used to work at NASA in 60s and 70s and worked on developing algorithms for decompressing transmissions. There are all sorts who make the world a pretty interesting, if unpredictable place. :)
You never know whom you are sitting next to on the plane! ;)
Rather than arguing over silly matters, perhaps we should focus on intelligent analysis and if necessary, rebuttal of arguments.
We do not prove anything by arguing over IIT vs Osmania, or North Vs South, but merely conform the worst aspects of Prof. Wadhwa's sweeping generalizations.
I, for one, have serious questions:
A) The video was edited. It is a collection of sound bites. How do we know the context of the statements if we do not have the full transcript?
B) We have no visuals of the charts and figures referred to by Prof Wadhwa.
C) We have no access to the raw data used by Prof. Wadhwa. He may had published it, but I have not seen any of it. (Unless Macaca can ferret out the details.. if anyone can, he is the man!). I have, for instance, basic questions whether immigrants and foreign students were excluded when he (Wadhwa) was counting the openings filled and engineers graduated in US.
I do not mean to offend anyone, nor am I commenting on any country, university, or anything.. so please do not misunderstand me. Let us focus on the what is more important.
I browsed through Wadhwa's paper. My impression is that he has used ASEE data for the U.S. and very likely it includes international students. Can anyone send him an email and seek clarification?
I have access to ASEE database, but I cannot share the excel files. I can however post summary informations.
2006:
Total M.S. 38880
Foreign 15533
Total B.S. 74186
Foreign 5345
I can also report data by disciplines, among other things. But it is a bit tedious to do so.
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