gapala
09-05 08:15 PM
Based on my research on net and discussion with economic savy friends and my own limited knowledge in economics, by any calculation, real-estate in India is going to be in deep trouble. It will be a uncalculated gamble to invest in realty at current prices in India just because the commitment is large and long term with 0 visibility
Even in NRI perspective, set aside the low GDP of india and assume that it will grow beyond wildest dreams in next 20 years (atleast I hope they will control the inflation), the prices are still beyond the Purchasing Power Parity between nations for example US and India. US PPP is around $41500 and stand at 8th position among world countries. Now all 7 countries above US are so called non attractive for NRI's. Where does india stand? 140th position with a Purchasing Power Parity of $3300. Only poor south african, south asian countries are below India in the list.
http://www.nationmaster.com/graph/eco_gdp_pur_pow_par_percap-purchasing-power-parity-per-capita
Assume that at some point in future you will need to realize the investment say 5 years from now or even 10 years. Who will buy it from you? only 2% of indian families potentially can earn $200,000 in life time. Given this, I think you can only hope that another NRI would earn and save enough at that time to buy from you paying more that what you have invested + (alternate investment value).
There are estimated 182000 including the ones waiting for approvals real estate flats and complexes are being built all across india's major cities expanding into suburbs. As someone said, NRI's invest in majority of the projects even before 10% of development is completed. These projects will be completed in next 5 to 7 years. Beyond that new projects that may come up in future which will potentially increase the supply combined with poor purchasing power of local folks and corruption is a real recipe for disaster.
I am sure majority of NRI's did not tak a deep look at economic and political scenarios before making decision on buying realty in India. I was shocked to hear one builder with such convincing tone, saying buy it now or you will loose the chance. After a week, he increased the price by 2% and told us that there is a huge demand and he already sold 20 units in 5 days since we talked to him. Hard to believe. I later heard that he is still selling units to NRI's :) and tells them same story.
That triggered me to do some research and study the situation in that country and when I try to connect the dots.. jeez its scary. It seems they do not consider capacity of drainage, sewer and waste disposal in the area to support increased usage in their project building these flats which will house 100's of new families. Public water supply pipes are also not expanded around the development area to cater increased demand and consumption. Builders just connect water pipes to the nearest public water supply point. God knows when, that public water supply pipes were layed and to support how much consumption? Water preasure in these buildings are 0 and you just see drops :) Solution to this, Builder says its a common norm that all occupants will buy the water and share the cost.
I am not throwing the my small savings to gamble in India. If you get a good deal, go for it or just wait for a correction. Now the question is what is a good deal in given circumstances? If the rotation slow down, investment locks up, poor local PPP with make credit expensive and preasure will build on borrowers to liquidate property which will lead to fall in prices. We can even expect a credit crisis in India in next couple of years.
Do not even compare effect of credit crisis in US to if at all it is going to happen in India. US is still the strongest economy and India is not. (I am not talking about growth rate here but the depth)
Even in NRI perspective, set aside the low GDP of india and assume that it will grow beyond wildest dreams in next 20 years (atleast I hope they will control the inflation), the prices are still beyond the Purchasing Power Parity between nations for example US and India. US PPP is around $41500 and stand at 8th position among world countries. Now all 7 countries above US are so called non attractive for NRI's. Where does india stand? 140th position with a Purchasing Power Parity of $3300. Only poor south african, south asian countries are below India in the list.
http://www.nationmaster.com/graph/eco_gdp_pur_pow_par_percap-purchasing-power-parity-per-capita
Assume that at some point in future you will need to realize the investment say 5 years from now or even 10 years. Who will buy it from you? only 2% of indian families potentially can earn $200,000 in life time. Given this, I think you can only hope that another NRI would earn and save enough at that time to buy from you paying more that what you have invested + (alternate investment value).
There are estimated 182000 including the ones waiting for approvals real estate flats and complexes are being built all across india's major cities expanding into suburbs. As someone said, NRI's invest in majority of the projects even before 10% of development is completed. These projects will be completed in next 5 to 7 years. Beyond that new projects that may come up in future which will potentially increase the supply combined with poor purchasing power of local folks and corruption is a real recipe for disaster.
I am sure majority of NRI's did not tak a deep look at economic and political scenarios before making decision on buying realty in India. I was shocked to hear one builder with such convincing tone, saying buy it now or you will loose the chance. After a week, he increased the price by 2% and told us that there is a huge demand and he already sold 20 units in 5 days since we talked to him. Hard to believe. I later heard that he is still selling units to NRI's :) and tells them same story.
That triggered me to do some research and study the situation in that country and when I try to connect the dots.. jeez its scary. It seems they do not consider capacity of drainage, sewer and waste disposal in the area to support increased usage in their project building these flats which will house 100's of new families. Public water supply pipes are also not expanded around the development area to cater increased demand and consumption. Builders just connect water pipes to the nearest public water supply point. God knows when, that public water supply pipes were layed and to support how much consumption? Water preasure in these buildings are 0 and you just see drops :) Solution to this, Builder says its a common norm that all occupants will buy the water and share the cost.
I am not throwing the my small savings to gamble in India. If you get a good deal, go for it or just wait for a correction. Now the question is what is a good deal in given circumstances? If the rotation slow down, investment locks up, poor local PPP with make credit expensive and preasure will build on borrowers to liquidate property which will lead to fall in prices. We can even expect a credit crisis in India in next couple of years.
Do not even compare effect of credit crisis in US to if at all it is going to happen in India. US is still the strongest economy and India is not. (I am not talking about growth rate here but the depth)
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pdakwala
03-08 01:07 PM
Why is that some people are getting access and some people are note getting access to the judiciary committee hearing on immigration
eager_immi
07-22 12:51 PM
i seriously doubt uscis will be slow in ead applications atleast not more than 6 mths. Reason:
1. there will be 500,000 applicants that will become out of status and uscis will be in news again
2. it helps them to get the $340 from you forever
So they will hire contractors to issues this.
1. there will be 500,000 applicants that will become out of status and uscis will be in news again
2. it helps them to get the $340 from you forever
So they will hire contractors to issues this.
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eb3_nepa
03-15 04:18 PM
Very well summarized.
more...
amitjoey
07-18 09:51 PM
Thanks a bunch for all of you who contributed today, I read each and every post and felt very content that atleast there are people who feel the same way like I feel. IV is the only org that stands for us. It is time to strengthen it, Most of you have no idea how much money is really needed for lobbying, and how far it can take us if each of us contributed a little every month.
Minimum $50/month.
Minimum $50/month.
gc_on_demand
06-11 08:33 AM
Folks
July bulletin is OUT and NO more significant movement. Donot hope for future bulletin . Please call Lawmakers ASAP. Unless we take action USCIS is not going to do anything. Situation can be worse once we head towards election season. Still we have 1-2 months to get things done or we will be waiting for years to get green card OR EAD ( For some folks ).
It is just 10-15 minutes need to spend to call. Let them know WHO WE ARE AND WHAT ARE OUR ISSUES .
I request all of you to call , if you have called then ask your friends and family members to call.
Now its time to act. If we dont take action CHC will not allow to move ahead our 3 bills.
CALL NOW .... and Spread this message to everyone.
July bulletin is OUT and NO more significant movement. Donot hope for future bulletin . Please call Lawmakers ASAP. Unless we take action USCIS is not going to do anything. Situation can be worse once we head towards election season. Still we have 1-2 months to get things done or we will be waiting for years to get green card OR EAD ( For some folks ).
It is just 10-15 minutes need to spend to call. Let them know WHO WE ARE AND WHAT ARE OUR ISSUES .
I request all of you to call , if you have called then ask your friends and family members to call.
Now its time to act. If we dont take action CHC will not allow to move ahead our 3 bills.
CALL NOW .... and Spread this message to everyone.
more...
Libra
09-10 02:17 PM
thanks, will see you in DC.
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ksrk
02-25 06:28 PM
I would be the most happiest person if that happens :D
NOW (no order whatsoever) is what applies during that last quarter.
So, it doesn't really do anything for certain for anyone - except get us all on the edge of our seats "while supplies last".
Well, good luck to all! Let's see what happens.
NOW (no order whatsoever) is what applies during that last quarter.
So, it doesn't really do anything for certain for anyone - except get us all on the edge of our seats "while supplies last".
Well, good luck to all! Let's see what happens.
more...
miapplicant
08-21 10:01 AM
I am happy to send out this letter. Have done this before but I wanted to know if IV core supports our efforts in sending this letter. Please pardon me, I am not trying to qs the validity of this letter or anything else with this but I haven't heard or read anything from IV core regarding the EB-3 I plight and their course of action (again excuse me if I have misjudged). I would like to hear from IV core on this. Thanks again.
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jcrajput
09-11 05:17 PM
To my understanding....USICIS should out source some of there work (mostly setting up PDs) to India...
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485Mbe4001
02-01 04:19 PM
Do we have a meeting scheduled today? if yes at what time?
thanks,
thanks,
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sanagani
03-05 10:43 PM
Even though my priority date is 2005 dec under EB3 , i have one soft LUD on my and my dependentcaseon feb 10 amd one more soft LUD on primary applicant case on feb 27 09...
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scorion
12-28 03:08 PM
We applied on 8th Aug for AP; Got receipts with receipt date of 13th Sep from NSC. I got my AP approved on 14th Nov. but we are waiting on My wife's AP since. Haven't received it.
So we are planning to get our H1/H4 stamped and travel without AP. My Lawyer thinks it shouldn't be a problem
Thanks
So we are planning to get our H1/H4 stamped and travel without AP. My Lawyer thinks it shouldn't be a problem
Thanks
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miracles
08-09 12:09 AM
any updates on the bridge bill for schedule A Nurses.
The congress are on break for 4weeks this August, so expect none will happen till September.:cool:
The congress are on break for 4weeks this August, so expect none will happen till September.:cool:
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cpbaherwani
06-03 11:29 AM
Mailed a check for $100 today.
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indio0617
03-09 09:52 AM
Here is the link to the full markup. SJC is going in the order of the titles. Our sections are predominantly from Title 5 but some are in 4 too.
http://immigrationvoice.org/forum/attachment.php?attachmentid=23&d=1140888843
Still talk about illegal aliens... Hope we (legal) dont get drowned amid these arguments
http://immigrationvoice.org/forum/attachment.php?attachmentid=23&d=1140888843
Still talk about illegal aliens... Hope we (legal) dont get drowned amid these arguments
more...
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amits
07-19 01:27 PM
Thanks espoir for your contribution!!
Really heartening to see more and people coming forward with contributions...
And seems like all the efforts we made did work. check this out:
Skilled Workers May See Green-Card Surge
http://www.businessweek.com/bwdaily/dnflash/content/jul2007/db20070718_068854.htm
Come on guys.. come forward to support IV. We need to keep the momentum up and make sure Lawmakers hear and work on our problems. This will definitely need lobbying, which needs money.
Every $ counts...
More
Just Signed up for $100/month recurring contribution. upgrade from $20/month in addition to $300 one time contribution in june.
Really heartening to see more and people coming forward with contributions...
And seems like all the efforts we made did work. check this out:
Skilled Workers May See Green-Card Surge
http://www.businessweek.com/bwdaily/dnflash/content/jul2007/db20070718_068854.htm
Come on guys.. come forward to support IV. We need to keep the momentum up and make sure Lawmakers hear and work on our problems. This will definitely need lobbying, which needs money.
Every $ counts...
More
Just Signed up for $100/month recurring contribution. upgrade from $20/month in addition to $300 one time contribution in june.
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gene77
08-18 12:53 PM
Please continue to post your comments on the letter - the sooner we can all agree upon the content, the sooner we can start sending these out.
Also, is there a possibility of having a common meeting (all retrogressed EB3 candidates) with Congresswoman Zoe Lofgren expressing our situation - just a thought.
Also, is there a possibility of having a common meeting (all retrogressed EB3 candidates) with Congresswoman Zoe Lofgren expressing our situation - just a thought.
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kumar1
08-20 11:28 PM
Missouri story - I was sent home by DMV office, reason, I was not carrying my latest Pay stubs. I hate these Midwestern states...they were sleeping before 9/11 and suddenly woke up and squeezed their asses. Can you imagine, ignorant DMV in Missouri gave me DL on B1/B2 visa in 2000? I showed them Passport as proof#1 and US visa as proof#2 and ignorant officer said...you are good to go! Now 7 years later, it is written in bold over there....
ONLY US CITIZENS walk away with DMV, rest everyone go through USCIS.
Just like in a desi shop in arm pit state New Jersey I saw this..."IN GOD WE TRUST, REST EVERYONE PAY CASH"
I knew I will have issues with DMV so I paid extra 1000 to get H1B premium and retained my privilege to drive. Believe me guys....this is America.....spend more...save more!
ONLY US CITIZENS walk away with DMV, rest everyone go through USCIS.
Just like in a desi shop in arm pit state New Jersey I saw this..."IN GOD WE TRUST, REST EVERYONE PAY CASH"
I knew I will have issues with DMV so I paid extra 1000 to get H1B premium and retained my privilege to drive. Believe me guys....this is America.....spend more...save more!
guy03062
03-09 08:33 AM
Please post any important updates here...seems today's session is already started...
nyte_crawler
04-25 05:25 PM
Seriously it is impossible to change anything with the back-dated 100k applications. The only thing that could be done is help the future immigrants in a much better fashion. The only solution I see is, apply this rule after 1/1/2006. By applying this rule to back-dated applications will only create more chaos. Why would anybody would want to change the line again, because it is a different situation now. I would'nt. If that is the case, then USCIS should withdraw all their approved out-of-line GCs during 2004, atleast the retrogression will not be this bad. The best idea would be to wait and see if the current bill makes it out to the president with all the amendments included. That should relieve some or most of the retrogression.
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