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  #181 (permalink)  
Old 09-26-2008, 03:47 PM
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Default

Quote:
Originally Posted by senthil1 View Post
US economy situation is alarming. I doubt they will consider any immigration related bill until financial crisis stablises.2009 will be the key.Economy has to stablise. If not anti immigrants will block any bill citing the economy as the reason. If unemployment increases every month then any immigration reform is distance possiblity.Illegal immigrants are is getting publicity every year by rally for past 4 years but nothing happened. Pro immigrants are trying to block E-verify and some other anti immigration reforms. Anti immigrants are trying to block pro immigrant reforms. So any immigration reforms will be stalled until some compromise reached by moderates
How are you my friend, it has been a while since I seen you. Have you sent your emails yet?
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  #182 (permalink)  
Old 09-27-2008, 01:21 PM
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Default Excellent Idea.

I feel that this will be an excellent idea. Atleast some people will be eliminated from the queue. I believe there are lot of people waiting for their GC to buy a home. It will also benefit them.

I sent the emails to some of the senators in the list.
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  #183 (permalink)  
Old 09-27-2008, 01:46 PM
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Quote:
Originally Posted by senthil1 View Post
US economy situation is alarming. I doubt they will consider any immigration related bill until financial crisis stablises.2009 will be the key.Economy has to stablise. If not anti immigrants will block any bill citing the economy as the reason. If unemployment increases every month then any immigration reform is distance possiblity.Illegal immigrants are is getting publicity every year by rally for past 4 years but nothing happened. Pro immigrants are trying to block E-verify and some other anti immigration reforms. Anti immigrants are trying to block pro immigrant reforms. So any immigration reforms will be stalled until some compromise reached by moderates
You are correct. However the corollary is that the pressure to resolve issues is building. The congress is getting a reputation as sitting and fiddling and as a "do nothing" body while problems of all sorts are worsening.
For example, during this crisis were it not for the cooperation and goodwill of Foreign central banks, this financial situation could have gotten a whole lot worse. Could you imagine the impact of any of the many countries with US reserves over 300 Billion such as China, Japan, Saudi, Russia or India moving or just announcing their reserves will move into Euros or Gold given the current fragile mindset? That would have caused the dollar to simply plummet. Frankly given the current state of affairs, If I were a central banker, I would diversify the reserves.
People may have differing views on how to fix things, but that they must everyone seems to agree. As not much has been accomplished on this and other issues over the last few years, we just might see a slew of issues addressed next year as a sense of urgency is building. This will be especially true if we get all 3 branches of Gov't on one side, right now that chance is with the Democrats.
Doing nothing is quite simply paralyzing this country, we mainly see it on the Immigration issue as it affects us directly, but the same is true on many issues.

Last edited by alterego; 09-27-2008 at 01:56 PM.
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  #184 (permalink)  
Old 09-28-2008, 12:21 PM
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Default Awesome Idea!!

Quote:
Originally Posted by nixstor View Post
As completely unrelated these two issues are (from a law maker's perspective) on a normal day, these are possibly those times when each of these issues can help the other.

IV has been discussing about the possibility of one for two solution (partial). The idea is to request congress to exempt EB applicants & their dependents from numerical limits of the Immigrant visas, if they buy a home. It is my belief that market sentiment is the most important thing in any financial market(s) and the housing prospects look pretty bleak. There are lot of members in the EB community that have NOT bought their own home, even though they could afford one because of the uncertainty with EB GC. IV's idea is to bridge the financial committees and judiciary committees in the House/Senate and see if corresponding Chairman/Ranking members are willing to listen. Things are moving so fast with the 700bn USD bail out plan and we will NOT have time to do things the normal way, through our counsel. We have to present this idea to the corresponding staff members of key members of congress (see list below) and see if this gets traction now or going forward.

Please do not bring EB-5 discussion/comparison here. The proposed partial solution is different from EB-5 in that EB-5 investors invest money and we are investing in our future with a genuine intention of making USA our permanent home.


If you already have a home, thats fine. Any such legislation will reduce the wait times in EB categories and we need housing markets to rebound for a safer economy before the ripple effects are felt every where.


Who to write to


Staff members(Chief of Staff, Legislative LA, Financial LA, Legislative Director) of Chairman/Ranking members of House/Senate Judiciary committee & Finance/Banking committee, Staff members of your representative and your senators. Please find staff members of the committees in the spreadsheet.

You can find your representative & senator staff members on this website.

Please use valid email addresses and NOT fictitious/junk mail. It undermines the whole purpose and our emails will be flagged by mail scanners / spam checkers as some thing similar to famous Nigeria bank account scams.


Email Subject: Proposal to alleviate current US Housing/economic crisis


Content/Message


SUMMARY


This proposal alleviates the current US economic crisis, by motivating the US high skilled, legal immigrant workers to purchase homes. The size of this immigrant population is approximately 800,000 individuals. This effort if successful would inject up to US$ 20Billion approximately into the economy (approximately US$ 100 Billion in houses sold across the country) , while at the same time directing this money into the root cause of the economic crisis – the illiquidity of the national housing market. The above calculation is done
assuming a median US home price of $212,400 and buyers making a down-payment of 20% of the cost of the home. Roughly estimating 400,000 buyers.

BACKGROUND

Undoubtedly, we are all devastated by the shake up on Wall Street in the past 15 days. Experts agree that the underpinning problem is the housing crisis caused by sub-prime mortgage loans. Many of us, who cannot afford our monthly mortgage payments are losing homes and putting them up for sale and foreclosure, which further adds to the crisis. At the same time, most of the Employment-based (EB) immigrant community would like to purchase homes and make the United States a permanent home for their families. These EB immigrants however, are living in a state of limbo, mostly in rental apartments because of the delays and uncertainties involved with the EB immigration procedure. The wait times in EB categories are exacerbated by the delays in processing by USCIS, even though eligible applicants have filed for Permanent Residency also known as Adjustment of Status. Such processing delays have resulted in the wastage of 218,000 immigrant visa numbers (Page 52 of USCIS Ombudsman Annual report 2007). The current Department of State visa bulletin shows 7+ years of wait times in certain categories. We strongly believe that legislation can be worked out in such a way that the housing markets all over the country can move towards recovery, while at the same time motivating the Green Card applicants to catalyze this recovery.

It should be noted that this proposal by no means brings more immigrant workers into the US. The workers in the EB, skilled category are already present in the US, doing skilled jobs that no US worker is available to do. They are part of the long queue of backlogged cases that USICIS will eventually process; however, this wait can take years and in that case could not be used as a tool to minimize the course of the current economic crisis.

SOLUTION

Congress can pass legislation that exempts EB green card applicants and their dependents from the numerical limits of visa numbers, provided applicant(s) have bought a home making 20% down payment on the sale price of the home, for a time period deemed necessary by the congress.


How can Employment based Immigrants help alleviate the housing problem?

(1) Employment based immigrants are highly skilled and are employed in occupations such as Software, IT, Health care, Energy, Finance, Education and Research & Development across the United States.

(2) Average income of these individuals/households is around 65,000/130,000 USD.

(3) All these Employment based immigrants have gone through Department of Labor’s recruiting process, which certifies that there is no willing, able and qualified US Citizen to do the job.

(4) Most of the Employment based immigrants have excellent credit history and good source of income to make the payments needed for their home mortgage.

(5) By requiring a 20% down payment from this group of buyers, Congress can directly channel this money to where it is need most – at the banks.

(6) Employment based green card applicants have been living in the United States for 6-8 years. Many of them have US graduate degrees in their fields of expertise. These applicants are well versed with the American culture and will not change the cultural landscape.

(7) Financial burden on US government and treasury will be reduced drastically if the glut of houses in the market decreases.


As a member of the community that wants to make the US its permanent home, I want to contribute to a solution that helps USA and US during these tough times. I sincerely believe that the 30 year commitment on mortgages by Employment based immigrants in the housing market, backed by solid, risk free mortgages can turn the down ward spiral in the housing market into a upward spiral.

END OF CONTENT
This would be a great idea and anywaz US will have to do something out of box to resolve this crisis. They have already lost the status of economic superpower and this country is going towards breakdown in case they don't welcome immigrants who bring in/generate capital for this country. Protectionists really need to be shut off at this point of time.
Now Questions is the best way to accomplish this ? In 2007, I wrote multiple emails to vicepresident@whitehouse.gov regarding this but never got a response. So if we can get this thought into their minds, this can resolve our issue and can give a good amount if relief to housing industry.
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  #185 (permalink)  
Old 09-28-2008, 01:30 PM
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Default Renting Makes More Financial Sense Than Homeownership

Friends, found this in Yahoo today..what you all think about this?

http://realestate.yahoo.com/promo/re...5nLWJldHRlcg--
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  #186 (permalink)  
Old 09-29-2008, 12:34 PM
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Default

Who sent the emails today?
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  #187 (permalink)  
Old 09-29-2008, 04:07 PM
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Default Dumb Why?

First of all for presuming that highly skilled immigrants who are waiting for GC are the only ones who can buy a house. Even 10 illegal aliens can come together and buy a house and share the mortgage.

Then, the economy is in it's cycle, it will pick up without more house buying. The issue is banks not lending to BUSINESSES not mortgages.

Most imporant, the proposal is same as saying "Sell me a GC". Ya, sure, that will pass the House and Senate.

Remember, nothing stops you from buying a house right now!!
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  #188 (permalink)  
Old 09-29-2008, 04:50 PM
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pointlesswait is infamous around these parts pointlesswait is infamous around these parts pointlesswait is infamous around these parts pointlesswait is infamous around these parts pointlesswait is infamous around these parts pointlesswait is infamous around these parts pointlesswait is infamous around these parts pointlesswait is infamous around these parts
Default to them!

like i had said in my earlier posts...this is retarded idea..to begin with...and still is..

cause...if anyone is even dreaming of buying a house thinking the home values are down ..think again..no matter how good ur credit rating is..you will have to pay high interest...and no one in their right mind will say that the home values have bottomed out..it will continue to fall ...




Quote:
Originally Posted by VivekAhuja View Post
First of all for presuming that highly skilled immigrants who are waiting for GC are the only ones who can buy a house. Even 10 illegal aliens can come together and buy a house and share the mortgage.

Then, the economy is in it's cycle, it will pick up without more house buying. The issue is banks not lending to BUSINESSES not mortgages.

Most imporant, the proposal is same as saying "Sell me a GC". Ya, sure, that will pass the House and Senate.

Remember, nothing stops you from buying a house right now!!
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  #189 (permalink)  
Old 09-29-2008, 05:52 PM
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Post All those who say buying house should give them GC for saving economy

Please park you dollars in some tangible asset. Property is a good place to do that. If you a saving in dollars use that as your 20% down payment and get good fire sale property in US. You should know that if you wait for your GC to buy property your dollar will be worth only 50% its value or less in a year from now. If you use your dollars now to buy property you will get a good bargain and also your monthly payment will be 50% or more cheaper five years from now.

Buy gold but not in paper but as metal and hold it so you can feel it.
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Last edited by gjoe; 09-30-2008 at 01:11 AM.
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  #190 (permalink)  
Old 09-29-2008, 06:48 PM
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Default Did my job..

US Govt should realize the contribution of these high tech talented legal immigrants (gooses of golden eggs). I sent to HDTV and also to all of those given contacts ( contacts)

Please keep trying to help the govt by sending to all of those contacts and also media channels.

God should help us and also this country.

Last edited by peacocklover; 09-29-2008 at 06:51 PM.
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  #191 (permalink)  
Old 09-30-2008, 12:26 AM
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Default

$700 billion financial bailout plan was thrown out.Now can you guys think any one will buy this idea. (I am EB-3 and stuck in the queue but still think this idea will not fly).
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  #192 (permalink)  
Old 09-30-2008, 10:53 PM
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Default We need more DEMAND and hence more IMMMIGRATION

The naysayers saying that all assets backed by mortgage by securities are worthless. How can a freaking house become worthless? Yes its market value may have fallen but it is quite possible to increase the market value of houses by increasing demand. And how one can increase demand of houses? Simply by welcoming more skilled and educated foreign workers and making US immigration system more friendly to the immigrants who wants to stay here, buy a house here and raise a family. USA needs fresh blood not protectionist measures that will simply make it a country with huge tracts of land , low population density and constantly outmaneuvered in the international market by other economic superpowers like China.
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  #193 (permalink)  
Old 10-01-2008, 07:54 PM
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Default hmmm

china an economic superpower..;-)..good joke..

It is not simply that...immigraion is not always abt economics..its more and beyond... the US vision of a global melting pot has nothing to do with purchasing power of educated immigrants....

every desi here thinks he is that elusive golden goose..that the US govt has been waiting for...and to prove that they are ready to shove their hand up their arse and pull out the golden egg and exchange it for a piece of card..

i dont know who your financial advisor is who is suggesting that u buy a house in an economy that is in recession..

btw..thanks for those red dots..

Quote:
Originally Posted by lahiribaba View Post
The naysayers saying that all assets backed by mortgage by securities are worthless. How can a freaking house become worthless? Yes its market value may have fallen but it is quite possible to increase the market value of houses by increasing demand. And how one can increase demand of houses? Simply by welcoming more skilled and educated foreign workers and making US immigration system more friendly to the immigrants who wants to stay here, buy a house here and raise a family. USA needs fresh blood not protectionist measures that will simply make it a country with huge tracts of land , low population density and constantly outmaneuvered in the international market by other economic superpowers like China.
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  #194 (permalink)  
Old 10-01-2008, 09:14 PM
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Default

in the next 10-20 years, US needs steady stream of educated young working population(say 25-40 yrs olds) to take care of all the commitments of social security and medicare. Babyboomers will soon outnumber the younger generations. immigration is a need for US now more than ever in the known history. employment based immigration is definitely going to increase/needs to be increased at any cost.

Democrat,republicans,obama,mccain no matter who comes to power, there are good days ahead for EB immigrants. all the trouble that we face today is a result of pandering to the nativist base of the country before election takes place. Once in power, things will change for good...
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  #195 (permalink)  
Old 10-02-2008, 12:04 AM
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Default Any one else sent emails lately

Any one else sent emails lately
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