chanduv23
09-19 11:40 AM
These stories are scary
http://news.yahoo.com/s/ap/20080918/ap_on_bi_ge/ny_economy_4
By MICHAEL GORMLEY, Associated Press Writer Thu Sep 18, 1:03 PM ET
ALBANY, N.Y. - A new projection shows Wall Street's meltdown will likely cost New York state up to 40,000 private sector jobs and $3 billion in tax revenues over the next two years, two state officials said Thursday.
ADVERTISEMENT
The revised numbers in the snapshot of worst case estimates was done Wednesday at the highest levels of New York's state government.
The projection is worse than Gov. David Paterson predicted just Tuesday when he said the state could lose some $1 billion in revenue because of upheaval in the financial sector.
Wall Street is a major economic force in New York state, generating one-fifth of the state's revenues each year.
The officials spoke on condition of anonymity because they weren't authorized to comment on the fiscal analysis.
Both hits would be substantial. The total New York state budget including federal funds is about $120 billion, and the state has about 7.25 million private-sector jobs.
State officials used the model of the fiscal damage to New York after the Sept. 11, 2001, terrorist attacks. Then, Gov. George Pataki said it was the worst financial hit to New York since the Great Depression 70 years earlier.
The new analysis includes the stock market drop, lost revenue from transactions and projected lost income tax revenue from Wall Street jobs.
Three of the five major U.S. investment banks � Bear Stearns, Lehman Brothers and Merrill Lynch � have either gone out of business or been driven into the arms of another bank. The two remaining banks, Goldman Sachs Group Inc. and Morgan Stanley, are under siege.
http://news.yahoo.com/s/ap/20080918/ap_on_bi_ge/ny_economy_4
By MICHAEL GORMLEY, Associated Press Writer Thu Sep 18, 1:03 PM ET
ALBANY, N.Y. - A new projection shows Wall Street's meltdown will likely cost New York state up to 40,000 private sector jobs and $3 billion in tax revenues over the next two years, two state officials said Thursday.
ADVERTISEMENT
The revised numbers in the snapshot of worst case estimates was done Wednesday at the highest levels of New York's state government.
The projection is worse than Gov. David Paterson predicted just Tuesday when he said the state could lose some $1 billion in revenue because of upheaval in the financial sector.
Wall Street is a major economic force in New York state, generating one-fifth of the state's revenues each year.
The officials spoke on condition of anonymity because they weren't authorized to comment on the fiscal analysis.
Both hits would be substantial. The total New York state budget including federal funds is about $120 billion, and the state has about 7.25 million private-sector jobs.
State officials used the model of the fiscal damage to New York after the Sept. 11, 2001, terrorist attacks. Then, Gov. George Pataki said it was the worst financial hit to New York since the Great Depression 70 years earlier.
The new analysis includes the stock market drop, lost revenue from transactions and projected lost income tax revenue from Wall Street jobs.
Three of the five major U.S. investment banks � Bear Stearns, Lehman Brothers and Merrill Lynch � have either gone out of business or been driven into the arms of another bank. The two remaining banks, Goldman Sachs Group Inc. and Morgan Stanley, are under siege.
wallpaper of Writing middot; Kid#39;s Quotes
gautamagg
04-23 03:44 PM
Are you one of the guys who considered going to France as you cannot go to school Full time?
yes
yes
kavita
12-10 07:47 PM
don't you think that working towards removing unfair country quota in skilled category would be faster & easier than population control?
Now that you are enlighted about being one among too many, are you planning to go back, and reduce backlog for others?
Also, when talking about reducing indian population, I hope that you do not agree with what 10 pakistanis tried to do in mumbai few days back!!! That is one very bad way of reducing population! I would prefer load balancing i.e. moving some ppl to part of world where population is not so much.
Jokes apart, we need to seriously highlight the fact that as there is no country quota in H1B, since it is a skilled category visa, similarly there should be no country quota in skill based immigration too. It is nothing but simply 'DESCRIMINATION" based on country of birth. Do we have guts to fight that??? we can only talk about some stupid solutions but have no unity, no guts and no willingness to stand up for our community.
I absolutely agree with you. I can't imagine how a person of Indian or Chinese origin can blame themselves of this retrogression. To me, it is a reflection of poor self esteem.
The bottomline is that we are here because we are needed here. We have the privilege to apply for green card in return for the work we do. Country quota does not make sense in employment based immigration. It is an unfair practice which has to stop someday.
Now that you are enlighted about being one among too many, are you planning to go back, and reduce backlog for others?
Also, when talking about reducing indian population, I hope that you do not agree with what 10 pakistanis tried to do in mumbai few days back!!! That is one very bad way of reducing population! I would prefer load balancing i.e. moving some ppl to part of world where population is not so much.
Jokes apart, we need to seriously highlight the fact that as there is no country quota in H1B, since it is a skilled category visa, similarly there should be no country quota in skill based immigration too. It is nothing but simply 'DESCRIMINATION" based on country of birth. Do we have guts to fight that??? we can only talk about some stupid solutions but have no unity, no guts and no willingness to stand up for our community.
I absolutely agree with you. I can't imagine how a person of Indian or Chinese origin can blame themselves of this retrogression. To me, it is a reflection of poor self esteem.
The bottomline is that we are here because we are needed here. We have the privilege to apply for green card in return for the work we do. Country quota does not make sense in employment based immigration. It is an unfair practice which has to stop someday.
2011 quotes, the writing life,
GCcomesoon
04-29 02:18 PM
Hi
As mentioned in my previous post
I got the approval email for my 485 filed in June - 2007.I guess my wife's case should be approved soon.So does that mean biometrics is needed in my case as the message which is commmon - Card production is not given which I guess is sent for most of the approved cases ?
Or has anyone updates after the approval message ?
Thanks
GCcomesoon
I called TSC yesterday & they said that biometrics notice has been requested ( which they said to me 1 month back too ) , Now till I get my biometrics done, I won't get the actual physical card.Keep in USCIS in mind, I wonder how much time this will take ??
Would appreciate if anyone could share any thoughts, any similar experiences?
Thanks
GCcomesoon
As mentioned in my previous post
I got the approval email for my 485 filed in June - 2007.I guess my wife's case should be approved soon.So does that mean biometrics is needed in my case as the message which is commmon - Card production is not given which I guess is sent for most of the approved cases ?
Or has anyone updates after the approval message ?
Thanks
GCcomesoon
I called TSC yesterday & they said that biometrics notice has been requested ( which they said to me 1 month back too ) , Now till I get my biometrics done, I won't get the actual physical card.Keep in USCIS in mind, I wonder how much time this will take ??
Would appreciate if anyone could share any thoughts, any similar experiences?
Thanks
GCcomesoon
more...
bmoni
04-09 06:43 PM
Thanks Papu !!!! thats great....
Visa Bulletin for May 2010 (http://www.travel.state.gov/visa/frvi/bulletin/bulletin_4805.html)
Visa Bulletin for May 2010 (http://www.travel.state.gov/visa/frvi/bulletin/bulletin_4805.html)
.soulty
03-09 08:00 PM
just enter whatever you have on the date and then fix it up after.. no drama, you can always use this piece for a portfolio or something and you can showcase it later.
more...
fromnaija
01-19 10:59 AM
The following is a copy paste of the hopeless situation for many many of us, from the presentation paskal was referring to.
Please add more facts, figures, numbers.
There are around 147,000 employment based Visa number available every year.
Each country in the world, irrespective of population, equally share from the same bucket for Visa Number.
Total there are 100 (suppose) country in world. Each country will get 1470 Visa Number allocated / year.
This 1470 will be divided between EB1, EB2 and EB3 category
That means every category will get 490 Visa Number.
USCIS statistics show each household has at least two member. So only 245 household from India in EB3 category will get GC in a year.
Total GC application pending with USCIS is around 1MM.
In simple you are in a funnel and if you don�t act now you will be in funnel for lifetime.
There is only one thing wrong with this figure. Not all of the 100 countries will have immigrants in the EB category. The fact is that no one country can have more than 7% of the available visas i.e. 9800 of the available 140,000 EB visas per year.
Please add more facts, figures, numbers.
There are around 147,000 employment based Visa number available every year.
Each country in the world, irrespective of population, equally share from the same bucket for Visa Number.
Total there are 100 (suppose) country in world. Each country will get 1470 Visa Number allocated / year.
This 1470 will be divided between EB1, EB2 and EB3 category
That means every category will get 490 Visa Number.
USCIS statistics show each household has at least two member. So only 245 household from India in EB3 category will get GC in a year.
Total GC application pending with USCIS is around 1MM.
In simple you are in a funnel and if you don�t act now you will be in funnel for lifetime.
There is only one thing wrong with this figure. Not all of the 100 countries will have immigrants in the EB category. The fact is that no one country can have more than 7% of the available visas i.e. 9800 of the available 140,000 EB visas per year.
2010 Quote of the day: John Lennon
grinch
02-26 02:54 PM
Hey guys!
I'm finally back from the beautiful Italy, and I'm ready to start getting back into the battle!
March 10th sounds pretty good, yet I just might need a couple days or so, depending on how my time goes.
and soulty, your not going to participate?! Aw hoe come man! I was looking forward to your entry!
I'm still working hard, almost done!
I'm finally back from the beautiful Italy, and I'm ready to start getting back into the battle!
March 10th sounds pretty good, yet I just might need a couple days or so, depending on how my time goes.
and soulty, your not going to participate?! Aw hoe come man! I was looking forward to your entry!
I'm still working hard, almost done!
more...
srkamath
07-13 02:31 PM
It is just a temporary movement to capture as many visa number as possible. Dates will move back in Oct and surge forward in June 09.
NO it won't !:);)
NO it won't !:);)
hair Writing | Bookmark this
rajarao
10-30 01:24 PM
I hope the 70 is not correct. I sent in the FOIA request (notarized) and also mobilized few of my friends. The number 70 is incorrect, because it does not allow me to vote there, otherwise I am sure it would be atleast 71.
I'm surprised only 70 members are interested in accurate prediction of future VB movements, and orderly processing of 485 applications instead of the current random lottery!
It would help lot of us make informed decisions if we were to know how many are in the queue and how long we have to wait.We can spend much of the wasted Tracking, VB prediction time with our families. Don't you think it's important? And that your time is too precious to be wasted over such pursuits?
I'm surprised only 70 members are interested in accurate prediction of future VB movements, and orderly processing of 485 applications instead of the current random lottery!
It would help lot of us make informed decisions if we were to know how many are in the queue and how long we have to wait.We can spend much of the wasted Tracking, VB prediction time with our families. Don't you think it's important? And that your time is too precious to be wasted over such pursuits?
more...
nomi
12-12 10:19 AM
Nobody knows whether congressional action is needed to allow I-485 to be filed during retrogression?
Look, No body know about it. I think we should contact with some law firm in order to find it out from some reliable sources.
One more thing is what how does USCIS start retrogression. There is no law about it either. This is something USCIs start by it self using "New Rule" option.
I think Core team should look into it. Since we spend so much energy to calling all Senators and we all know the results.
USCIS can allow to file I-485 or they can make some rule without going congress.
Correct me if I am wrong but there is some light in this path for us if we seriously fellow it.
what do you guys think about it ??
thx.
Look, No body know about it. I think we should contact with some law firm in order to find it out from some reliable sources.
One more thing is what how does USCIS start retrogression. There is no law about it either. This is something USCIs start by it self using "New Rule" option.
I think Core team should look into it. Since we spend so much energy to calling all Senators and we all know the results.
USCIS can allow to file I-485 or they can make some rule without going congress.
Correct me if I am wrong but there is some light in this path for us if we seriously fellow it.
what do you guys think about it ??
thx.
hot Art, Quotes, Thoughts, Writing
conchshell
08-13 04:15 PM
Each Year un-used FB (Family based) visas are given to EB (Employment based) in coming year. Last year CIS did not use 22704 FB visa which is added to 140K EB count for 2008.
that means Eb2 india has more than 40k visa available ... that explains it why EB2 India and China has moved from June to August 2006.
that means Eb2 india has more than 40k visa available ... that explains it why EB2 India and China has moved from June to August 2006.
more...
house Today#39;s journal writing topic
bank_king2003
02-12 02:05 PM
Would you mind asking source/link for "another 13,000 shifted over"?
As per this link - family based numbers were totally used up for FY2008
http://www.travel.state.gov/pdf/FY08-AR-TableV.pdf
Family based visa used for FY2008 = 226,105 against 226,000 available.
I suggest that you follow your own advice and read & understand what is being posted in this thread. What do you think? Is this information or "message" correct?
______________________
Not a legal advice.
hold on guys!!! i was the one who started this thread because i was not sure if ron was right or not but i guess seeing desi3933 comments that he is right and ron may not have the proof to justify this time.
it is good if we can get some proof of uscis wasting/not using visa but untill then please dont blame each other..
I feel the arguments desi3933 is giving.... makes most of the sense as compared to the last reply by ron which was like a general response instead of showing root cause of 13k visa lost.
peace V
As per this link - family based numbers were totally used up for FY2008
http://www.travel.state.gov/pdf/FY08-AR-TableV.pdf
Family based visa used for FY2008 = 226,105 against 226,000 available.
I suggest that you follow your own advice and read & understand what is being posted in this thread. What do you think? Is this information or "message" correct?
______________________
Not a legal advice.
hold on guys!!! i was the one who started this thread because i was not sure if ron was right or not but i guess seeing desi3933 comments that he is right and ron may not have the proof to justify this time.
it is good if we can get some proof of uscis wasting/not using visa but untill then please dont blame each other..
I feel the arguments desi3933 is giving.... makes most of the sense as compared to the last reply by ron which was like a general response instead of showing root cause of 13k visa lost.
peace V
tattoo Movie Quotes About Writing
acecupid
07-03 12:17 PM
Don't be ignorant, i am still bloody waiting for mine and counting!!!! :mad:
Problem is not country quota, its the ones with families!!! ><
I'm not being ignorant, if you are waiting, then there are many from EB non-ROW who have been waiting longer than you. How can you be so arrogant about waiting ? You choose to overlook facts about what EB category is all about. Its definitely not about diversity!
Problem is not country quota, its the ones with families!!! ><
I'm not being ignorant, if you are waiting, then there are many from EB non-ROW who have been waiting longer than you. How can you be so arrogant about waiting ? You choose to overlook facts about what EB category is all about. Its definitely not about diversity!
more...
pictures Tête à Tête Letter
mlvats
06-10 10:18 PM
thanks very much
dresses Dylan Thomas is today#39;s quote
labogon
07-28 09:50 AM
I ask the same question to my lawyer when i saw your posting about your I_485 without the employer letter. This is his response, I hope this will help answer your question.
__________________________________________________ ____________
Thanks for the information! We included copies of your recent paystubs to meet this requirement. In essence the only 'initial' evidence that is required to get the case accepted are the properly signed forms, the correct filing fee amount, and some information about the basis for the filing. In your case that is the approved labor cert and info about the I-140.
If the Immigration Examiner wants any additional evidence about your eligibility he or she will issue a request for evidence. However in my experience the employer letter is very optional. I don't include it in about half of the cases I file and I have not received a request for it either.
I'll let you know when we get the receipt notices - probably not for another two weeks.
__________________________________________________ _____________
P.s. God bless the forces behind the Immigtration voice. I work as a teacher in an isolated native american reservation. The efforts done by the group to reverse the july visa bulletin decision has benefited a small portion of educators here in new mexico. You've done a great job. Thank you very much! I'll encourage my group here to contribute to keep this website working.
labogon
__________________________________________________ ____________
Thanks for the information! We included copies of your recent paystubs to meet this requirement. In essence the only 'initial' evidence that is required to get the case accepted are the properly signed forms, the correct filing fee amount, and some information about the basis for the filing. In your case that is the approved labor cert and info about the I-140.
If the Immigration Examiner wants any additional evidence about your eligibility he or she will issue a request for evidence. However in my experience the employer letter is very optional. I don't include it in about half of the cases I file and I have not received a request for it either.
I'll let you know when we get the receipt notices - probably not for another two weeks.
__________________________________________________ _____________
P.s. God bless the forces behind the Immigtration voice. I work as a teacher in an isolated native american reservation. The efforts done by the group to reverse the july visa bulletin decision has benefited a small portion of educators here in new mexico. You've done a great job. Thank you very much! I'll encourage my group here to contribute to keep this website working.
labogon
more...
makeup love making quotes. Writing a
jonty_11
07-11 04:37 PM
>>>>>>>>
girlfriend Today#39;s journal writing ideas
msadiqali
10-23 12:36 PM
Obama clearly explained that he wanted to end abuses of the H1-B visas that is used by highly qualified specialists to work in US. He added that he would make "immigrant workers less dependent on their employers for their right to stay in the country, and would hold accountable employers who abuse the system and their workers".
hairstyles Writing quotes of life
humdesi
02-21 10:06 PM
Lord almighty people are getting really carried away. :) This cutoff setting guy hadn't even made up his mind as of Feb 13. Also read my entire post, he won't set the date till he sees the estimate from USCIS.
Btw, my PD is Jan 03 and my LUD is still back in November 07 (when my attorney changed).
Most likely he'll see how much the demand really is and decide a cutoff at early 2002 or maybe even 2001. Remember EB-2 india vanished even after cutoff being at Jan 2000.
Btw, my PD is Jan 03 and my LUD is still back in November 07 (when my attorney changed).
Most likely he'll see how much the demand really is and decide a cutoff at early 2002 or maybe even 2001. Remember EB-2 india vanished even after cutoff being at Jan 2000.
EB3_SEP04
05-26 04:25 PM
While on the way back from White Mountains in NH, our car was stopped on I-93 south by the US border patrol. They were stopping every single vehicle to question. They had over a dozen Govt vehicles with 40-50 people in uniform. My buddy was driving.
Officer : Sir what is your status in the US ?
Buddy: I am on L1 visa
I: H1B
buddy's wife: L2
my wife: H4
officer: is anyone US citizen ?
I: my son is (he was sitting in the car seat)
Officer: (to my buddy) Is your visa still valid ?
Buddy: yes
officer: do you have documents to prove your status?
buddy: i have some papers in my bag which in the the trunk
officer: can you show me?
(buddy got out showed him tax papers and answered some questions)
officer: did they not tell you you are supposed to carry your papers while travelling?
buddy: I came over a year ago so i don't remember
officer: I am letting you go, but i could have fined you $2000; $500 for each pasenger with no papers.
I was so pissed off by this experience, clearly they are doing this to harrase immigrants. theoratically even if I am going for a walk i am supposed to carry immigration papers because a border patrol officer, in theory, could asks me for my papers ?
http://www.foxnews.com/projects/pdf/immigration_Border_flyer.pdf
I have decided that if anyone ask me such a stupid question again inside the US and i am just going to remain silent even if that means they detain me for some time.
Officer : Sir what is your status in the US ?
Buddy: I am on L1 visa
I: H1B
buddy's wife: L2
my wife: H4
officer: is anyone US citizen ?
I: my son is (he was sitting in the car seat)
Officer: (to my buddy) Is your visa still valid ?
Buddy: yes
officer: do you have documents to prove your status?
buddy: i have some papers in my bag which in the the trunk
officer: can you show me?
(buddy got out showed him tax papers and answered some questions)
officer: did they not tell you you are supposed to carry your papers while travelling?
buddy: I came over a year ago so i don't remember
officer: I am letting you go, but i could have fined you $2000; $500 for each pasenger with no papers.
I was so pissed off by this experience, clearly they are doing this to harrase immigrants. theoratically even if I am going for a walk i am supposed to carry immigration papers because a border patrol officer, in theory, could asks me for my papers ?
http://www.foxnews.com/projects/pdf/immigration_Border_flyer.pdf
I have decided that if anyone ask me such a stupid question again inside the US and i am just going to remain silent even if that means they detain me for some time.
mariner5555
03-04 01:33 PM
I was 37 years old when I arrived on H1b in 1999, I had owned properties back home and I had a fair amount of equity.
In 1999 my wife and I could see the Southern California real estate market was growing. Our initial idea had been to rent for 6 months, and get to know the area, then decided where we wanted to buy. My employer applied for H1b in November 1998 and it was approved in May 1999. We came over in January 1999 to look for property to rent but also with a view to maybe purchase.
Within 2 weeks of my H1b approval my wife and I came over and because of the property price increases since we began looking at the market we felt renting was going to be dead money and we need to buy for economical reasons.
So in June 1999 we purchased a 1,950 sqft house for $280,000.
In September 2003 we sold that house for $535,000.
Using the increased equity my wife who is H4 chose another house (as she couldn’t work it was important to me that she be happy in the house). The next house we purchased was 4,550sqft, and in December 2003 it cost $835,000.
I know the market for real estate is shrinking, but according to Zillow.com this morning the property is valued around $1,230,000 albeit was worth considerably more a year ago.
I’m not looking to brag, I am sharing my experience.
1 my wife and kids were on H4 they needed a home to be happy in.
2 it made economic sense to buy
3 we got the right funding
4 had we waited for GC we could never have afforded the home we currently live in.
The timing of immigration approvals had no bearing on whether I decided to purchase property.
good luck to all
I agree with Singh who said those were different times .. and you are lucky too (And qualified I guess)..many in california could not afford to keep their cars during last slowdown (my friend brought brand new mustang and then had to sell it for 12 k ..4 month old car - 3000 miles on it) in a hurry. people left their cars in parking lots (thats what I heard). buying a house makes sense if you know you will be in that place for a long time - and the price is right..(last few years it was like crazy speculation) see the link I had posted in my prev posting ..it is a horror story now.
does it make sense to buy in california now ? it would be sheer stupidity (in my view) ..maybe after price comes down another 20 percent would be right time to buy.
http://www.marketwatch.com/news/story/tragedy-recession-its-bad-ending/story.aspx?guid=%7B5D72D7E3%2D76BB%2D4CAB%2DB4D0%2 D60F87DA734B7%7D
in the end it is supply and demand ,....supply is huge for housing and is growing ..there is no (negligible) demand ..and hence even small increase in demand helps ..this is economics 101 !!!
the other point(and the main point) is to use this to highlight our problems(and to keep on trying ) ..and hope that someone listens. the other option ofcourse is to let things drag on ....
these are first few main points of the article
----
1. Home prices will fall 20% to 30% from the peak
Roughly $4 trillion to $6 trillion of household wealth will vanish. Large home builders may go bankrupt, triggering further declines in home-builder stocks. Even Fed Chairman Ben Bernanke admitted last week that housing prices could fall into 2009.
2. Prime and near-prime mortgages losses
"This is a generalized mortgage crisis and meltdown, not just a subprime one," warns Roubini. "About 60% of all mortgage origination from 2005 through 2007 had these reckless and toxic features. And losses among all sorts of mortgages will sharply increase as home prices fall sharply and the economy." Add another $300 billion in losses
In 1999 my wife and I could see the Southern California real estate market was growing. Our initial idea had been to rent for 6 months, and get to know the area, then decided where we wanted to buy. My employer applied for H1b in November 1998 and it was approved in May 1999. We came over in January 1999 to look for property to rent but also with a view to maybe purchase.
Within 2 weeks of my H1b approval my wife and I came over and because of the property price increases since we began looking at the market we felt renting was going to be dead money and we need to buy for economical reasons.
So in June 1999 we purchased a 1,950 sqft house for $280,000.
In September 2003 we sold that house for $535,000.
Using the increased equity my wife who is H4 chose another house (as she couldn’t work it was important to me that she be happy in the house). The next house we purchased was 4,550sqft, and in December 2003 it cost $835,000.
I know the market for real estate is shrinking, but according to Zillow.com this morning the property is valued around $1,230,000 albeit was worth considerably more a year ago.
I’m not looking to brag, I am sharing my experience.
1 my wife and kids were on H4 they needed a home to be happy in.
2 it made economic sense to buy
3 we got the right funding
4 had we waited for GC we could never have afforded the home we currently live in.
The timing of immigration approvals had no bearing on whether I decided to purchase property.
good luck to all
I agree with Singh who said those were different times .. and you are lucky too (And qualified I guess)..many in california could not afford to keep their cars during last slowdown (my friend brought brand new mustang and then had to sell it for 12 k ..4 month old car - 3000 miles on it) in a hurry. people left their cars in parking lots (thats what I heard). buying a house makes sense if you know you will be in that place for a long time - and the price is right..(last few years it was like crazy speculation) see the link I had posted in my prev posting ..it is a horror story now.
does it make sense to buy in california now ? it would be sheer stupidity (in my view) ..maybe after price comes down another 20 percent would be right time to buy.
http://www.marketwatch.com/news/story/tragedy-recession-its-bad-ending/story.aspx?guid=%7B5D72D7E3%2D76BB%2D4CAB%2DB4D0%2 D60F87DA734B7%7D
in the end it is supply and demand ,....supply is huge for housing and is growing ..there is no (negligible) demand ..and hence even small increase in demand helps ..this is economics 101 !!!
the other point(and the main point) is to use this to highlight our problems(and to keep on trying ) ..and hope that someone listens. the other option ofcourse is to let things drag on ....
these are first few main points of the article
----
1. Home prices will fall 20% to 30% from the peak
Roughly $4 trillion to $6 trillion of household wealth will vanish. Large home builders may go bankrupt, triggering further declines in home-builder stocks. Even Fed Chairman Ben Bernanke admitted last week that housing prices could fall into 2009.
2. Prime and near-prime mortgages losses
"This is a generalized mortgage crisis and meltdown, not just a subprime one," warns Roubini. "About 60% of all mortgage origination from 2005 through 2007 had these reckless and toxic features. And losses among all sorts of mortgages will sharply increase as home prices fall sharply and the economy." Add another $300 billion in losses
0 comments:
Post a Comment