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  • So, if ISI is behind Bombay, I struggle to understand what it would gain from provoking India.

    The 'machinery''s motives I can understand. They are being pursued by Pakistan army and NATO forces, and by provoking India and starting a conflict on the eastern border, they would divert Pakistan army and get some relief. Plus, the more chaos in Pakistan, the better it is for them.

    Look at this way...

    Obama is planning to increase troops in Afghanistan. US is now doing cross-border attacks in pakistan. When he increases the troop level, it would only increase further hitting the core soverignity of pakistan.

    The supercop is completely preoccupied in transition with the messiah of hope taking oath on jan 20th. It would need few weeks for him to settle down.

    Pakistan is fractured with ISI's own trained militants causing havoc in Balochistan and NWFP. They are militants from Punjab and POK who are helping the tribes and Taliban. Taliban is hiding for the past 7 years and only the last two year have seen such a tremendous increase in attacks.
    Without Punjab militant's expertise (with kashmir on-the-job training) , it is impossible for Taliban to regroup in a way they have re-grouped.

    As a result, Military is forced to act on Tribes/taliban/punjab militants to support the war on terror and to satisfy USA.

    The Key questions are
    a> Who asked Punjab militants to go and create havoc in NWFP/Balochistan/Afghan border? Is it Military or ISI or lying low for a while when taking peace with India ( but using their expertise somewhere else)

    It attracted US's attention and just forces Pak Military to do more and more..

    With this Mumbai attack, what the ISI supported militants expected is a war between India and Pakistan. Military sees an escape route too.

    When a war breaks out,

    Tension on the Western border comes down to a nought. Taliban, Tribes, Punjab Militants, ISI and the military are ALL on the same side and India is the enemy. US would be a spectator. It unites the nation of Pakistan like nothing else.
    It reduces the pressure on the military. Military can wash from its hands the responsbility of being the ally in 'war on terror'

    A weak central govt in India with a totally angry Indian population wanting 'something' need to be done to stop this.
    A fuse that can easily go off...A baloon that can easily burst..My point is India can be very easily provoked at this stage.

    US took revenge in Afghanistan for 09/11. It initiated a war of choice in Iraq. It allowed Israel to pummel Lebanon while preaching 'war on terror'. US can not prevent India from doing a war if needed.

    Dude, we have seen Mumbai, we have seen parliament attack, we have seen Ashkardam all in broad day light in addition
    to many hit and run operations. How many more the world want us to tolerate? Buddha and Gandhi may have born in india but does the world expect us to tolerate attacks after attacks after attacks?

    I generally dont try to be emotional. But I saw this live on TV while I was waiting in the airport to board my flight
    from India to US and it impacted me profoundly. Man, "Enough is enough"...

    Peace,
    G





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  • Israel is considered one of the most advanced countries in Southwest Asia in economic and industrial development. Intel, Microsoft, IBM, Cisco and Motorola have opened facilities in Israel.It has the second-largest number of startup companies in the world (after the United States) and the largest number of NASDAQ-listed companies outside North America.

    War can be fought on the economic front too. Pakistan is on warpath with India. The best way to fight a war is to step up industrialization. Instead of spending billions of dollars on importing armaments boost up manufacturing and start exporting your industrial products. Whisk business markets away from India. That would be a very potent war weapon.

    Look at the Japanese and the Germans. War ravaged nations. Americans poured billions of dollars of aid into them and look where they are today.
    And Pakistan, what a contrast! American tax money going down the drain. A sheer waste. EB3-I may be backlogged for years, EB2-I may be stuck in longuish waiting queues but we can go back to India and create a future for ourselves. Its lucky Pakistan falls under ROW, their hi-tech workers have limited future if they return to Pakistan. The middle east has oil. You Pakis have nothing today. And believe me you can create everything from nothing.

    Bottomline, Pakistan and Palenstine, stop this nonsense. You want to compete with India and Israel compete on the economic front. You'll find it to be win-win rather than lose-lose because there is enough room for everyone to grow.

    A couple of examples on Japanese transforming themselves from war-mongering savages to industrial tycoons.

    Sony:
    In 1945, after World War II, Masaru Ibuka started a radio repair shop in a bombed-out building in Tokyo. The next year, he was joined by his colleague Akio Morita and they founded a company called Tokyo Tsushin Kogyo K.K which translates in English to Tokyo Telecommunications Engineering Corporation. The company built Japan's first tape recorder called the Type-G. The rest is history.

    Sanyo Electric:
    Sanyo was founded when Toshio Iue (Iue Toshio, 1902-1969), the brother-in-law of Konosuke Matsushita and also a former Matsushita employee, was lent an unused Matsushita plant in 1947 and used it to make bicycle generator lamps. Sanyo was incorporated in 1950 and in 1952 it made Japan's first plastic radio and in 1954 Japan's first pulsator-type washing machine

    BMW:
    After World War I, BMW (and Germany) were forced to cease aircraft (engine) production by the terms of the Versailles Armistice Treaty. The company consequently shifted to motorcycle production in 1923 once the restrictions of the treaty started to be lifted, followed by automobiles in 1928.

    Toyota:
    During the Pacific War (World War II) the company was dedicated to truck production for the Imperial Japanese Army.
    After the war, commercial passenger car production started in 1947 with the model SA. In 1950, a separate sales company, Toyota Motor Sales Co., was established (which lasted until July 1982). In April 1956, the Toyopet dealer chain was established. The following year, the Crown became the first Japanese car to be exported to the United States and Toyota's American and Brazilian divisions, Toyota Motor Sales Inc. and Toyota do Brasil S.A., were also established.

    Mitsubishi:
    During the Second World War, Mitsubishi manufactured aircraft.The Mitsubishi Zero was a primary Japanese naval fighter in World War II. It was used by Imperial Japanese Navy pilots in the attack on Pearl Harbor on December 7, 1941 and in Kamikaze operations.Immediately following the end of the Second World War, the company returned to manufacturing vehicles.
    Mitsubishi participated in Japan's unprecedented economic growth of the 1950s and 1960s by creating Mitsubishi Petrochemical, Mitsubishi Atomic Power Industries, Mitsubishi Liquefied Petroleum Gas, and Mitsubishi Petroleum Development.

    Learn some lessons from the Japanese and the Germans.





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  • The trillion-dollar mortgage time bomb

    http://money.cnn.com/2008/04/21/news/economy/fannie_freddie/index.htm?section=money_mostpopular





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  • Blaming any religion on terrorism is inappropriate, inflammatory, and just plain irresponsible.
    Here's some proof for you:

    MI5 report challenges views on terrorism in Britain (http://www.guardian.co.uk/uk/2008/aug/20/uksecurity.terrorism1?gusrc=rss&feed=networkfront)


    • Far from being religious zealots, a large number of those involved in terrorism do not practise their faith regularly. Many lack religious literacy and could actually be regarded as religious novices. Very few have been brought up in strongly religious households, and there is a higher than average proportion of converts. Some are involved in drug-taking, drinking alcohol and visiting prostitutes. MI5 says there is evidence that a well-established religious identity actually protects against violent radicalisation.

    And I'll give you a couple specific examples :

    Al-Fakhoura School Bombed, 42 Killed, Including Children; 13,000 Homeless; Water, Medicine in Short Supply (http://www.juancole.com/2009/01/al-fakhoura-school-bombed-42-killed.html)

    Muhammad Atta was radicalized by watching the gruesome results of that attack and he was a 9/11 hijacker. (He flew one of the planes.) That attack happened to be Israel bombing a school in 1986.

    Torture trail to September 11 : A two-part investigation into state brutality opens with a look at how the violent interrogation of Islamist extremists hardened their views, helped to create al-Qaida and now, more than ever, is fuelling fundamentalist hatred (http://www.guardian.co.uk/world/2003/jan/24/alqaida.terrorism1)

    Dr Ayman al-Zawahiri, for example was tortured in Egypt. He was Al Q's number 2 and known as the "brains" behind the 9/11 attacks. He was a successful doctor.

    It is not religion that makes people willing to blow up themselves and kill others. It is perceived oppression against one's people. If you look closely enough, you will find it.

    Blaming religious beliefs on terrorism is sloppy thinking that:

    inflames people
    justifies further violence
    divides people
    creates more terrorism


    The IRA, Shining Path, the Basques, and yes, Al Q, all have one thing in common: their political aspirations for their people to be freed from what they see as oppression. The Irish Catholics weren't allowed good jobs. Peruvian Marxists were unhappy with their government. The Basques were mistreated by Franco. Many Middle Easterners want the right to form their own governments, which we in the west actively prevent by supporting dictatorships.

    Invariably, when people blame religion for some injustice, there is a political or economic reason behind it. The Crusades, for example, were not about converting people, but about wealth, power and what they saw as "glory".

    Please stop with the religious scape goating, bigotry and hatred. It leads nowhere but down.





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  • If he indeed was affiliated with the USCIS, I would want to hear his take on this even more. We are trying to understand what can and cannot be done in terms of self employment while on AOS and who better to answer this, than a USCIS representative.

    No one is trying to break the rules, just trying to understand what the rules are so they aren't unknowingly broken.

    And I know you were just joking, tee hee.





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  • Relief in the form of no caps or country quotas. Earlier priority dates is kind of arbitrary IMHO.

    This is a better proposition, asking for more relief to Masters or PHD guys makes more sense than asking USCIS to stop porting/interfiling and denying EB3 guys a chance to get faster GC after they have waited for many many years.





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  • the main message of the bible is forgiveness

    And what do bible say about people who do not believe in bible. How can the creator who created everything, including "believers" of your faith, and "non-believers" of your faith, how can such a creator who knows nothing but giving, how can that fellow say - "non-believers" go to hell. Don't you think that was purposefully put in there by Saint Paul, or someone who showed up after him. That shallow view cannot be coming from a supereme being, its just not possible.


    and the sacrifice that God made in order to save mankind. the person the bible portrays is the man who wanted to sacrifice his life for all of us. history proves that to be true. I don't think any king would want to change that message.
    God hates evil, and both God and evil cannot exist together. Man is doomed to eternal death because of sin. but God loved us that none of us should perish, and that's how he gave us a way to escape death (not mortal). that is through the great sacrifice He made for mankind.

    Book of Romans 5:8
    "But God demonstrates His own love toward us, in that while we were yet sinners, Christ died for us."

    Your version of history and the way you have been tought histroy proves that to be true. And just like the other fellow who said that books of hindu religion is not doctored, you come up with reasons who books or your faith are not doctored, which is not surprising. Why is it called "King James Bible" if King James did not create his won version? Why are there so many versions of bibles qurans, Geetas? Which version of each of those books is correct? Let me guess, the answer is, the one that I believe, or the one that was handed to me by my parents. And thats just too much bull, you know....

    Some of the parts of each holy book emanates view of supreme being, but then there are others which preach hate. All that I am saying is, be critical when you read yuor book, and question everything that it has to tell you. Don't live in medival period and follow these books blindly, you are an educated man, for christ sake. Even Christ or Allah or Krishna or whomever you beleiev in, even they will not want you to follow a twisted belief system in their name, would they? Just think.... So why is it not your responsibility to critically think about that is being taught in those books is not some form of hate in the name of religion.

    First thing that all religions do is, tell you that you r are a sinner, because just like George Bush, every religion works on the principle of fear. No. I was not born as a sinner, no one was. Everyone else is an extraordinary creation of creator created out of love and giving. And anyone telling you that we are sinner is simply abhomination of the creation of the creator.

    Say you are a computer programmer. The question is - Why are you a computer programmer? Because you applied your mind to become a computer programmer, and thats why you are now called - computer programmer. Now say you worship the true nature of GOD, which is not but love, none of this sinner and kafir stuff, ok. Now you apply your mind towards God, what will you become, and reflection of god itself. And during a period of time people will identify you with the object to which you applied your mind. I believe Jesus, Buddha, Krishna, Mohammad, Guru Nanak, were great visionary souls and applied their mind to GOD such that their coming generations identify them as GODs, just as I applied my mind to become a computer programmer and now I am identified as computer program. This applies to every so called "GOD" in every religion.

    Ray of light from Sun is a medium for light & warmth, but no one prays the ray of light, everyone prays the Sun becuase thats the source. Likewise, all the great souls who showed up from time to time, they are like rays of Sun light, showing us the direction to the Sun, but in this metaphor, mankind started praying the ray of sun light instead of the Sun and formed all those different religions based on the ray of sunlight. And now everyone fights with each other over whose ray of sunlight is better. Just imagine how ignorant and foolish this behavior is?

    I don't think that every word of bible is the word of Jesus Christ. I don;t think that every word of Quran is the word of Mohammed. I don't thin that every word of Geeta is the word of Krishna. If there was a way for these great souls to appear before us in this age and talk to people who "appear" to follow them, these great souls will tell their so called "followers" to stop this nonsense in their name.


    .





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  • Buying a house in India and living here on rent sounds like getting married and keeping your wife in India :) unless your wife is with you what is the point in getting married, I think people should think beyond the 'Investment' perspective of house.....in agreement.....there is definately pleasure in living in your own house....





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  • Well said Sanju.

    These are those age old arguments that they lay down to justify evil acts. its rediculous





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  • the mumbai incident was a terrible one. the guilty must be punished to the fullest extent, be it people from any background doing it in the name of religion.

    In the same way the people in this forum should have been angry/troubled over the killings in orissa where innocent christians were beaten, raped, killed, burned alive, home destroyed and chased from the homes to the jungles just because of their faith. this sort of crimes against christians is taking place throughout many parts of India. I am sure this will not go unpunished on the people who did/do these terrible things. the punishment may be delayed, but I am 100% sure it's going to be devastating on the people. mark my words. 'Coz I believe there is a God above, who watches and at the appointed time the punishment will come.

    But the bible also says that God is forgiving. The Bible says the following:
    "If we confess our sins, God is faithful and just to forgive us our sins and to cleanse us from all unrighteousness." (1 John; chap 1 verse 9)

    Also it says in the book of John (chapter 3 verse 16):
    "For God so loved the world (mankind) that he gave his son Jesus Christ to die as a sacrifice (for the sins of mankind), that whoever believes in Him (and repent), shall not perish but have eternal life".


    Look, your intensions may be good and I respect that, but one cannot solve one problem by creating another problem of equal magnitude.

    Isn't "religion" the reason why folks are fighting? I do not mean to offend anyone, but I think all religious books have been doctored by the kings who were in power during the last two centuries. Bible, Geeta, Quran, or for that matter any religious book of any organized religion - they are all doctored from its original version. Why? Because the purpose of these books is? Guess what? To oragnize the religion. Their primary purpose is not spirituality. Because if the sole purpose was spirituality, no one will have fought each other in the name of religion for thousands of years.

    I guess the question I would ask is - WWJD ie. What Would Jesus Do? If you asked Jesus that are you the only son of god, WWJD? I can tell you with 100% surety that he will say - we are all sons and daughters of God. But con artists have doctored the holy book to suit their meaning and interpretation. Anyways, I do not mean to have a philisophical debate here with you being the "protector" of Jesus, why? Because Jesus or Allah or for that matter any great soul doesn't need any protection from anyone. Just as a cartoon cannot damage Allah, any discussion about any faith cannot damage the GOD. But too often we want to be seen as if "God is on MY side" because I follow CORRECT religion, and everyone else is against my team of "ME & GOD". And thats just the most absurd thing mankind could come up with in the form of organized religion. But the truth is, thats the most common view most humans take, everyone is protecting their "GOD", which actually sounds like a joke. Does god need any protection??? I mean give me a break.

    Please don't bring one flawed system to replace another flawed system.





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  • A man flying in a hot air balloon realized he was lost. Reducing altitude, he spotted a man on the ground and descended to shouting range.

    "Excuse me," he shouted. "Can you help me? I promised my friend I would meet him a half hour ago, but I don't know where I am."

    The man below responded: "Yes. You are in a hot air balloon, hovering approximately 30 feet above this field. You are between 40 and 42 degrees North Latitude, and between 58 and 60 degrees West Longitude."

    "You must be an engineer," responded the balloonist.

    "I am," the man replied. "How did you know?"

    "Well," said the balloonist, "everything you have told me is technically correct, but I have no idea what to make of your information, and the fact is I am still lost."

    Whereupon the man on the ground responded, "You must be a manager."

    "That I am" replied the balloonist, "but how did you know?"

    "Well," said the man, "you don't know where you are, or where you're going. You have made a promise which you have no idea how to keep, and you expect me to solve your problem. The fact is you are in the exact same position you were before we met, but now it is somehow my fault."





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  • It is time for IV to do its job by letting the truth out. The claim that H1Bs do not pay any taxes are outrageous. They should know that H1Bs pay all the tax but do not enjoy the benefits, e.g., when they get laid off, they have to leave the coutry right away without getting a penny of unemployment benefits. They will not get the social socurity benefits if they do not work in the U.S. for at least 10 years while their visas only allow them to work 6 years in a row. Such unfairness can go on and on...:mad:





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  • Your analysis is so spot on except for item #8 and item # 9. I have a question though.. The example you have given suits my scenario so well. I am planning to buy a house (310k ) very soon. The loan offers I have from my lender has interest rates pretty much the same for both 10% down payment and 20% down payment, 5.0 with 20% and 5.25 with 10% down payment. I can down pay 10% right away and the other 10% is also available in a risk free(can withdraw without penalty) cd which yield me a return of 3.5% . So which is better for me 10% or 20% down pay. thanks in advance.

    As for buying or renting..it is more of a personal choice - to me, buying a house has tangible benefits over renting.. like a sense of entitlement to call some place ur true home and most likely a good enviroment for raising the kids. Life has phases like education, marriage, kids, job, etc..Now that I am into my 30's, I would like to see
    what it feels like to have owned a home.

    If I were you..I would go with the 10% down payment option. Your monthly payment would not increase much and you would have more cash safe in CD for life events.

    Consider the rent you are currently paying and make a choice...buying a home should not burden you with more than 10-20% of you current rent payment. In my case I am more conservative and going with a mortgage < my current rent payment.

    If it helps, here are my details:

    Condo cost: 300K
    Down payment: 5% - 15K
    Using fed stimulus: 8K towards down payment
    Total payment: 7K+closing costs

    Current rent: $2200
    Mortgage: ~$1500-1600
    Price trend in the past 5yrs: down <20% from peak prices

    Estimate living time: 2yrs min

    Even if house value drops after 2yrs by 10%, the tax savings, equity, happiness would compensate more than enough for it...

    I agree everyone's situation is different, but please do not make the mistake of taking a huge burden of payment if you are buying. Always buy within/below your means...





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  • Don't want to sound selfish, but I agree 100% on this. Where I am employed as a scientist, the employer took great pains to show that I have not displaced any American worker. In fact they have a whole file with documents that support this fact. If I move, my new employer will do the same. I am not scared of this provision in the H1B bill. If you are really the best, only then you deserve to get the job, and then you have no reason to fear this bill.

    "I am not scared of this bill". Yeah. you are not scared. You are a scientist. The smart one. Unlike the dumbasses of EB3 here, you actually have something good to offer because you are a Ph.D. A scientist for Godsakes.

    You should really think about supporting IEEE-USA. Maybe you can be friends with Ron Hira. You know, Ron Hira is always looking for H1B friends. Like Stephen Colbert who has a black friends and keeps a black friend just to prove he is not a racist, Ron Hira needs H1B friends.

    Maybe you and other scientists like you and other "US MASTER DEGREE" holders can join hands with IEEE-USA. You guys have a lot in common. Let the stupid EB3 folks and bachelors' degree holders sort out their own mess.

    You are just like those folks who think:

    "As long as I am not affected, I dont care".
    "As long as people behind me in the queue are affected, I dont care".
    "As long as other people lose visas, opportunities, I dont care, because other people's loss has to be my game. Its a zero sum game". If EB3 scum is filtered out by Durbin-Grassley bill, I and my scientist friends can get some breathing room in this crowded queue filled with dumbasses who never bothered to do a Ph.D.

    Nice attitude.
    Really rimzhim, stick to research. I dont think you will ever be a leader and lead in anything.

    I would give kudos to core group and the EB3 dumbass like Aman Kapoor, who, despite having EAD himself is actually sticking up for people who are on H1B and facing the risk of purge by Ron Hira and Chuck Grassley.

    If Aman Kapoor and core group thought like you are thinking, maybe this organization would have never existed.

    So go and spend you precious time with your job, whatever it is that you do that makes you a scientist. This organization is catering to dumbasses on Eb3, and the stupid little bachelor degree holders who arent doing a real job.

    And go and become the "H1B friend" of Ron Hira. That way, Ron can say "Many of my friends are on H1B".





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  • On TV, when someone barks without any research backing it up, there is no one to counter him.

    Only few shows have a chance to counter, but again the anchor is so smart that he will make sure that his guest receives little time to attack the host.

    Guys the world is all about who is powerfull.

    It is time to go to gym.
    bye

    How the hell did he arrive at that figure ? the whole trouble with lou is he fabricates "research" such as the above statement with absolutely nothing to back it up. So much for the Harvard educated economist in him.





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  • Could you explain property tax a little more? i.e. when you own it what % of your house is the tax? Is it a state tax? Is it fed deductible?


    Property tax is paid to the town you live in. It pays for the public schools (primary and secondary education). If your town provides trash collection services etc, all that comes from property tax. It's usually different for residential and commercial and industrial properties. Typically, the better the schools in a town, the more is the property tax.

    Percentage is determined by the town/city. For the purpose of this tax, town determines what is called "assessed value" of a property. This is done by the town-clerk by simply looking at the specifications of the property (lot size, number of bedrooms, living space, etc). This assessed value can sometimes vary wildly from the market-price. The assessed values are usually adjusted to match the town/city budget. it's not even intended to be anywhere near the market-price.

    Just for an example, my house is worth $540,000 (market price), the tax is $6000/year.

    Yes. property tax is fed deductible. I save ~$1000/month in fed taxes. Most of the mortgage loan payment is interest in the beginning and that's also tax deductible. My mortgage+property tax+insurance is about $2400. I used to pay $1500 in rent. For me, the only real financial implication of buying a house has been in the form of: New Furniture, increased heating bill and lawn-care. In lieu of that it has four times as much living space, a acre+plus flat yard for my son to play in. On the flip side, it's far out in the suburb. BTW, I put 25% down, otherwise my mortgage payment would have been higher.

    Buying a house is not everybody's cup of tea. but it can work very well for some, depending on requirements, taste and future plans.





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  • Those who said, Hamas was hiding inside school and firing rockets, go check the fact in CNN.

    U.N. 'sure' no militants at school hit by Israeli troops

    http://www.cnn.com/2009/WORLD/meast/01/07/israel.gaza.school/index.html

    Human sheild, hiding in hospital, hiding in mosques, hiding in school - All are big lie and bullshit. Just to justify the killing of innocent lives.





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  • Guys you are unnecessarily raking your brain over this. This is a blatant anti immigrant anti eb green card bill disguised as h1 reform. The people who wrote this bill are the same people who were carrying placards saying "legal immigrants welcome, no to illegal immigration". Now do you really believe them? Even Jeff sessions was one of them and he is the number one opposer of legal eb immigrants.


    Oh ok. Sorry, I was not sure about the message of your earlier post.

    And for this purpose, the provisions which seem to be protecting H1 employees are actually falling short of providing any protection to make H1 program more efficient. At the same time, the bill is imposing so many restrictions that it would make the entire H1 program "non-workable" and "useless", as highlighted by the administrator.





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  • Wow, I love this thread. It gave me a good relief . Thanks to all .





    I myself am originally from Mumbai so please dont doubt the deep sense of outrage that I feel. But amid all this talk about going to war, here are a few things to ponder

    1. Think about how long it takes to construct a single runway of an airport. In the developed countries, it takes about 2-3 years, for India safe to say 5-6 years. One of Paki's first responses would be take out entire airports not just runways. Can you imagine how long it would take us to recover

    2. Why should India kill Pak when it is killing itself every day. At this rate, just imagine how long this country will last. Sitting back and being a spectator could just about be the best option

    3. If we are outraged by 200 civilians/police/NSG dying, do we really have the stomach to absorb 1000s, lakhs ........

    4. Talking of "surgical strikes" - surgical strikes on what? Even the dumbest terrorist knows that its probably not a good idea to be in a terror camp right now.

    5. Do we really want to unite all those crazy Punjabis, Balochis, Taliban and the Paki army

    6. Ok, what about assassinating Kayani. Wonderful, we have destroyed the last institution in Paki land. Get ready to welcome millions of refugees

    I know I know that I am not coming up with any good course of action, just pointing out the flaws in the rest of them. But thats all my layman's strategic vision gives me. Maybe with just 1/100th the cost of war, we can improve our border/maritime security and also our intelligence apparatus

    Personally, I think war is going to happen. I just wish people even remotely understand what it is that they are asking for.





    :eek:

    I have been reading this thread with a lot of interest and could not hold back from commenting on the unbridled optimism many of you guys are showing towards the housing market, which reminds me of the "long tailed" euphoria that followed long after the NASDAQ had crashed over 50% in 2001 after the tech bubble, and people kept wishing it would come back long after it became clear to most cynical observers that it would take decades to achieve the same levels as before (and it hasn't yet)...

    Housing has not yet bottomed. It still has a long way to go. You guys may think that the foreclosures related to subprime resets have subsided so the market may recover. You haven't seen anything yet. Consider:

    http://www.irvinehousingblog.com/wp-content/uploads/2007/04/loan-matrix.jpg

    and:

    http://www.irvinehousingblog.com/wp-content/uploads/2007/04/adjustable-rate-mortgage-reset-schedule.jpg

    Option ARMs (adjustable rate mortgages) and Alt-A ARMs are the next two shoes to drop. In case you've had your head buried in the sand, the economy is on verge of a collapse. Unemployment is soaring and many more companies are considering layoffs. Many economic observers are opining that we are already in recession.

    Desi junta, and others, I entreat you readers to please consider this seriously in your house purchase decisions. If for some reason you need to sell and move out, at a minimum you will be saving some money (by not losing your downpayment, for example) by choosing to rent. Rent a house/townhouse from a private owner if you are tired of renting an apartment and have growing kids - it's a "renters market" in the private rental marketplace right now with so many investment properties purchased during the housing bubble available for rent.

    I would like to offer up a few blogs, whose commentators should be taken seriously. I recommend you read and bookmark the following blogs if you want to follow the housing market and the economy:

    http://calculatedrisk.blogspot.com/

    http://www.irvinehousingblog.com/

    http://housingpanic.blogspot.com/

    http://globaleconomicanalysis.blogspot.com/

    I like this website for people just starting out to get more financially educated (in an entertaining way):

    http://www.minyanville.com/

    Good luck and please be careful before 'taking the plunge!'

    very good post jung.lee. As you said lay offs have not even started !! Recent 80000 job loss data came in. This is givt data which is a lot worse than expected. Imagine the real job losses !!
    For me this is beginning of end !! Things will get real now. House prices will come in line with what people can afford .....



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