A return ticket for Delhi-new York are priced around RS.75000, but with real estate prices crashing in the US, Indians could buy homes there for the same amount! Thanks to the bottom falling out of the US housing market and struggling families abandoning homes, unable to keep up mortgage payments.
A detailed look at US realty websites such as Realtor.com, zillion.com, zip reality.com show that homes with at least one bath room and bedroom are indeed being advertised at anywhere between $1500-3000(RS69000-1, 38,000), an incredible fact by itself, In places such as Detroit, Michigan, Jackson, Mississippi and Ohio.
“The dramatically lowered residential property rates in many parts of the US can be attributed to the sub-prime crisis, which has caused a huge surplus of stock in the market, besides reducing liquidity, which slows down absorption,”
As per the law, only US residents can purchase homes, and the low price could suit students traveling to US and technicians regularly sent for on-site operations. As per the RBI, an average Indian can invest up to $ 200,000 In US real estate.
“Students live in apartments or as paying guests, shelling out $250-500 per month. If they or their parents can afford to pay money upfront, this might be a good option for students planning to stay for 1-2 years
Over 6% of US home loans are in arrears and around 1.5-2 million Americans have lost their homes to foreclosure in 2007.
1 comment:
Hey you are right . You can still give some blog about increasing value of "the rupee". Butthanks 4 de info.ALL THE BEST
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