Going abroad is still overrated term?

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raj5000

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Joined: 01 January 2006

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Posted: 07 August 2008 at 8:56pm | IP Logged

India's economy is booming, buying power is at it's best still there is a myth that going abroad is FUN/FROLIC life and financially advantagous as compared to staying in India.

With current culture and latest happenings (mall culture/booming economy), don't you think going abroad is overrated term? People staying back enjoy more of life and are statisfied (culturally/family wise) with life as compared to the people living in UK/US/Abroad?

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chal_phek_mat

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Joined: 07 March 2008

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Posted: 08 August 2008 at 10:42am | IP Logged

but but but.................

a dollar still costs over 40 rupees LOL

and unless you do a mass scale blood transfusion, the component in Indian blood for honoring the "Foreign Return" status is not going to go away yaar

BTW

about the culture and family talk Wink

raj5000

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Joined: 01 January 2006

Posts: 11488

Posted: 08 August 2008 at 11:02am | IP Logged

Originally posted by chal_phek_mat

but but but.................

a dollar still costs over 40 rupees LOL

and unless you do a mass scale blood transfusion, the component in Indian blood for honoring the "Foreign Return" status is not going to go away yaar

BTW

about the culture and family talk Wink

That was another topic on my mind, is it still about money with booming housing sector and overall economy (high paid jobs plus cheap naukar chakkar Wink

?) ?

If invested in 20Lakhs property in 2000's that is close to 1.5 Cr. now as compared to 100K saving @$40 Wink

bolo bolo

Culture and Family talk LOL

chal_phek_mat

Senior Member

Joined: 07 March 2008

Posts: 954

Posted: 08 August 2008 at 11:21am | IP Logged

Originally posted by raj5000

Originally posted by chal_phek_mat

but but but.................

a dollar still costs over 40 rupees LOL

and unless you do a mass scale blood transfusion, the component in Indian blood for honoring the "Foreign Return" status is not going to go away yaar

BTW

about the culture and family talk Wink

That was another topic on my mind, is it still about money with booming housing sector and overall economy (high paid jobs plus cheap naukar chakkar Wink

?) ?

If invested in 20Lakhs property in 2000's that is close to 1.5 Cr. now as compared to 100K saving @$40 Wink

bolo bolo

Culture and Family talk LOL

Although I beleive in your title here, this is absolutely wrong example, plus these days I like debating on the "Against" side just to make it more fun LOL

20 lack rupees in =50k USD

1.3 crores in 335kUSD savings returns

50k USD invested in property in US in 2000 for a house of $250k, same house costs 500k in 2008(netsavings of $450k) in 8 years

$335k > $450k, US still better

QED

Plus Interest rates in India are 13.5-14 variable, in US, 6-6.5 Fixed, word of a difference even though you put the mortgage pre-tax in India and you get tax benefits in US

so atleast in case of housing over a period of 2000-2006, People in US made out like bandits, the drop hasnt been as bad as made out to be in the newspapers, now you could have used the numbers between 2006 and 2008 and then the case is against the US markets

raj5000

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Joined: 01 January 2006

Posts: 11488

Posted: 08 August 2008 at 2:37pm | IP Logged

Originally posted by chal_phek_mat

Originally posted by raj5000

Originally posted by chal_phek_mat

but but but.................

a dollar still costs over 40 rupees LOL

and unless you do a mass scale blood transfusion, the component in Indian blood for honoring the "Foreign Return" status is not going to go away yaar

BTW

about the culture and family talk Wink

That was another topic on my mind, is it still about money with booming housing sector and overall economy (high paid jobs plus cheap naukar chakkar Wink

?) ?

If invested in 20Lakhs property in 2000's that is close to 1.5 Cr. now as compared to 100K saving @$40 Wink

bolo bolo

Culture and Family talk LOL

Although I beleive in your title here, this is absolutely wrong example, plus these days I like debating on the "Against" side just to make it more fun LOL

Yeah I got it, travelling in both the boats whichever sinks leave it

As for the example that was have observed with many friends / colleagues, who basically left out a property in India cam here for 3-4 years to earn more and afford a bigger, by the time they went back to the misery couldn't even afford the same house they left, feel sorry but kinna makes us Just threw a reference (pointer) with that scenario and yes, I mention now i.e. 2008. plus the general trend to reinvest after 5-6 years in that case also dabba gul. BTW - which part of US has been appraised 100% over last 8 years.

20 lack rupees in =50k USD

1.3 crores in 335kUSD savings returns

50k USD invested in property in US in 2000 for a house of $250k, same house costs 500k in 2008(netsavings of $450k) in 8 years

$335k > $450k, US still better

QED

Plus Interest rates in India are 13.5-14 variable, in US, 6-6.5 Fixed, word of a difference even though you put the mortgage pre-tax in India and you get tax benefits in US

Perfangel5655

IF-Sizzlerz

Joined: 25 January 2008

Posts: 11305

Posted: 08 August 2008 at 7:13pm | IP Logged

oh yes! definetly! I grew up in USA but recently I have been thinking about moving to India. I think India is doing great. What makes abroad still a hotshot is the quality of life. A middle class family has the luxuries only the rich families in India could afford.

Prometeus

IF-Sizzlerz

Joined: 03 December 2005

Posts: 24210

Posted: 08 August 2008 at 11:50pm | IP Logged

Originally posted by raj5000

India's economy is booming, buying power is at it's best still there is a myth that going abroad is FUN/FROLIC life and financially advantagous as compared to staying in India.

I think 90's we says US is a land of oppertunities but now a days india changing, lot of jobs oppertunities here...., I enjoy every time I goto India-may be not city side but living in rural areas. Only issue is traffic jam and pollution in Indian Metros.Does anybody knows when Bush started office oil prices was $20 and now $120. War is that answer..the cost of living is high now a days everywhere....

Am working in abrod middle east, and I was a total opportunist. I could see opportunities of saving and doubling my investments in India in a shorter span than in the middle east, and I'm riding all those hype waves (knowingly) of Realty, Construction, consulting, retailing and art. I know my money is doubling every year, which I cant dream in the Middle east or US or Europe ! Smile

India shining is a hype than reality. There is GDP growth, there is employement opportunity. Smile

jasmine_triv

Senior Member

Joined: 14 September 2007

Posts: 618

Posted: 14 August 2008 at 6:20pm | IP Logged

Originally posted by Perfangel5655

oh yes! definetly! I grew up in USA but recently I have been thinking about moving to India. I think India is doing great. What makes abroad still a hotshot is the quality of life. A middle class family has the luxuries only the rich families in India could afford.

I agree, even though my family in India is middle class they still have servants to do everything for them, they don't even have to make their own beds. I wouldn't mind living like that although I wouldn't be able to stand the weather.

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Going abroad is still overrated term?

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Posted: 07 August 2008 at 8:56pm | IP Logged

Posted: 08 August 2008 at 10:42am | IP Logged

Posted: 08 August 2008 at 11:02am | IP Logged

Posted: 08 August 2008 at 11:21am | IP Logged

Posted: 08 August 2008 at 2:37pm | IP Logged

Posted: 08 August 2008 at 7:13pm | IP Logged

Posted: 08 August 2008 at 11:50pm | IP Logged

Posted: 14 August 2008 at 6:20pm | IP Logged

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