So now what?

The question is affordability in India....that is why this thread came up. Now a days...and going forward....it will be difficult to buy RE in india because of the inflation/growth.

Here you can buy damn anything and lose anything anytime.....no wonder in CNN we see horror stories about mortgage/credit crisis.

Now Recession ....going forward...will be the worst ever.....is really making us go crazy.

I am not comfortable by your idea...invest in inida...and then bring back the profit in US....for what...

If you have a decent house in India...better stay there. Us is not as it used to be ....and u will see lot of reverse migrations.....in the future years.

GC...it is worth or not? is still a debatable issue. GC by itself does not have any value..we have to get citizenship and that will add another couple of years to the whole damn process.....hmmmm




Win_OR_WIN said:
Here is the best thing to do guys . Until you ge the GC buy an aptmnt in mumbai ,cyberabad , delhi whatever place in india where newly construction is going on and rent it out for next 2 to 3 years until you get GC. Property will increases surely by 10% . Sell the house after 3 years and use the prifitable money towards your down payment !

Now do you have liquid to buy 35 to 50 lakhs house in India ? if yes then good if no then no worries as you should get lawn either from SBI or ICICI .currently they runing good rate as real estate market is little down.

I strongly recommend that keep liquid revolving so atleast after 3 years you will feel good that you made something. :)
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I thought of adding couple of my opinion on this.
I have been investing in India since 2000 and I have couple of properties. I understand that indian market is getting stabilised from the peak price, atleast in places like banglore. It is an inflated market for now and just like US, it can come down any day.I think its very risky and bad to invest in an inflated market.I went around Banglore and its is 40-50 L for a 2 bedroom flat so that is about 150K in US(which was 25-35L an year ago)..

On the other hand, US is the best place to invest for now. you can get 5% interest here as compared to 8-11% in india. and house prices are lowest for now. you are on H1b or not just go for it. Market will rebounce before end of 2009 and you could even sell it then. As long as you got a stable job, this is the best market.
 
Neither India nor US is best for making money now.
Mutual fund managers RE guys have now learnt their lessons(make quick money and do not wait) after 9/11 collapse.

Market will up be up and down forever ....not up always.
So those days are simply gone.

But India could be an exception with population increasing and no land available for expansion.

My2 cents


desi2007 said:
I thought of adding couple of my opinion on this.
I have been investing in India since 2000 and I have couple of properties. I understand that indian market is getting stabilised from the peak price, atleast in places like banglore. It is an inflated market for now and just like US, it can come down any day.I think its very risky and bad to invest in an inflated market.I went around Banglore and its is 40-50 L for a 2 bedroom flat so that is about 150K in US(which was 25-35L an year ago)..

On the other hand, US is the best place to invest for now. you can get 5% interest here as compared to 8-11% in india. and house prices are lowest for now. you are on H1b or not just go for it. Market will rebounce before end of 2009 and you could even sell it then. As long as you got a stable job, this is the best market.
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I agree that buying a house is not a great idea at this time. I bought a house here in the US last August and now because of certain circumstances I have to move back to India. I ended up selling the house for the same price I bought for, but lost close to 10 grand in closing costs and agent commission (like Jackolantern said). So overall it was not worth it at all, we lost money, caused us lot of anguish to get the house on the market and sold quickly.
My recommendation, in the current economy ....rent.
 
Job Market is slowing down.....
So let us wait before jumping into House deals...


GrC2005 said:
I agree that buying a house is not a great idea at this time. I bought a house here in the US last August and now because of certain circumstances I have to move back to India. I ended up selling the house for the same price I bought for, but lost close to 10 grand in closing costs and agent commission (like Jackolantern said). So overall it was not worth it at all, we lost money, caused us lot of anguish to get the house on the market and sold quickly.
My recommendation, in the current economy ....rent.
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Traditional wisdom...
Buy.. when everybody is afraid of buying...
Sell... when everybody is buying...

For a home purchase.. the interest rate is not necessarily low these days.. if you keep tracking it in Bankrates.com, the mortagage rates is actually goes up a little bit even feds cut the rates 1.75% in the last few weeks.

I think, the only good indictor to make a purchase decision is
1. How much you are in need of a HOUSE?
2. How secure of your job(s)?
3. How long term you planned on stay in the same company/state/location?

Don't worry about you will get another job in some other states.. if you get the job good enough, they relocate you and pay all your expenses when selling your old one. So, to me, working hard, get promoted quickly and secure a better job is the #1 concern right now.

I haven't get my GC yet but I do have 2 cars, 1 house, 1 wife, 1 1yr old baby, 1 dog and 2 cats.. I never felt any of the above are burden. If I need to go back HK, I pretty much bring my whole family (including my pets) back home and sell all those "belongings" in here. At the end of the day, I only care I am closely lived with my family, enjoy with them....
 
Guys...

I heard lot of people are returning back...our Seniors.
Are we fools? sticking out here.

Now my dreams are dissolving....are we stuck? in the wrong track?

Why are people returning? They came here all the way?
What is in india? is still US best place? take me out and show me the light.

I forgot the house matter...now this thing came up?
 
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