[fun4vnay2]

Regarding the lending standards in India, I am just wondering about the availability of funds/loans to the population of my small city in India, Since they are not really earning a lot to afford houses for 2millions INR.

[fun4vnay2]

Regarding the lending standards in India, I am just wondering about the availability of funds/loans to the population of my small city in India, Since they are not really earning a lot to afford houses for 2millions INR.

[fun4vnay2]

Regarding the lending standards in India, I am just wondering about the availability of funds/loans to the population of my small city in India, Since they are not really earning a lot to afford houses for 2millions INR.

[fun4vnay2]

Regarding the lending standards in India, I am just wondering about the availability of funds/loans to the population of my small city in India, Since they are not really earning a lot to afford houses for 2millions INR.

[fun4vnay2]

Let me tell you real first hand example of my own small city in Northern India.

The real estate has doubled in last 3/4 years but the income of people living there has not increased much at all

This is a classic example of easy financing by Banks there.
10 years back, it was rare to see indians taking loans to buy house because of two reasons:

1) Difficult to get loans from Banks
2)Cultural reasons

But now, both the above factord have changed, one fueling the other. Now it is very easy to get bank loans to buy houses and thus bringing up the prices. In my own small city, in the last 4/5 years, nothing has changed substantially w.r.t. jos creation, salary increase but still the boom is there.

To give an idea fo the prices:
A two bedroom apartment/flat ( not SFR ) would cost Rs 2 millions where the average salary would be hardly 300K/year with an interest rate of ~11% there for housing loans.

Lets see if this would unrival itself and when ?

[fun4vnay2]

Let me tell you real first hand example of my own small city in Northern India.

The real estate has doubled in last 3/4 years but the income of people living there has not increased much at all

This is a classic example of easy financing by Banks there.
10 years back, it was rare to see indians taking loans to buy house because of two reasons:

1) Difficult to get loans from Banks
2)Cultural reasons

But now, both the above factord have changed, one fueling the other. Now it is very easy to get bank loans to buy houses and thus bringing up the prices. In my own small city, in the last 4/5 years, nothing has changed substantially w.r.t. jos creation, salary increase but still the boom is there.

To give an idea fo the prices:
A two bedroom apartment/flat ( not SFR ) would cost Rs 2 millions where the average salary would be hardly 300K/year with an interest rate of ~11% there for housing loans.

Lets see if this would unrival itself and when ?

[fun4vnay2]

Let me tell you real first hand example of my own small city in Northern India.

The real estate has doubled in last 3/4 years but the income of people living there has not increased much at all

This is a classic example of easy financing by Banks there.
10 years back, it was rare to see indians taking loans to buy house because of two reasons:

1) Difficult to get loans from Banks
2)Cultural reasons

But now, both the above factord have changed, one fueling the other. Now it is very easy to get bank loans to buy houses and thus bringing up the prices. In my own small city, in the last 4/5 years, nothing has changed substantially w.r.t. jos creation, salary increase but still the boom is there.

To give an idea fo the prices:
A two bedroom apartment/flat ( not SFR ) would cost Rs 2 millions where the average salary would be hardly 300K/year with an interest rate of ~11% there for housing loans.

Lets see if this would unrival itself and when ?

[fun4vnay2]

Let me tell you real first hand example of my own small city in Northern India.

The real estate has doubled in last 3/4 years but the income of people living there has not increased much at all

This is a classic example of easy financing by Banks there.
10 years back, it was rare to see indians taking loans to buy house because of two reasons:

1) Difficult to get loans from Banks
2)Cultural reasons

But now, both the above factord have changed, one fueling the other. Now it is very easy to get bank loans to buy houses and thus bringing up the prices. In my own small city, in the last 4/5 years, nothing has changed substantially w.r.t. jos creation, salary increase but still the boom is there.

To give an idea fo the prices:
A two bedroom apartment/flat ( not SFR ) would cost Rs 2 millions where the average salary would be hardly 300K/year with an interest rate of ~11% there for housing loans.

Lets see if this would unrival itself and when ?

[fun4vnay2]

Guys
Ask me about the losing purchasing power of dollar
Here is the falling dollar ( INR is Indian Rupee )
Value of dollar in INR
Average Rates
January
44.2117 INR (23 days average)
February
44.012 INR (20 days average)
March
43.7936 INR (22 days average)
April
42.0176 INR (21 days average)
May
40.7536 INR (11 days average)

[fun4vnay2]

For a new masters in ee; qualcomm pays ~75k.
I have a friend who is working for intel in austin, he gets paid ~63k as a new ms in ee

[fun4vnay2]

Thanks for the quick reply.
I agree with you that they definitely need to sweeten the deal to snatch me away from qc. Anyway, nothing is finalized yet and the negotiations have not been started at this time. This is just a tentative offer from the company in Oregon.
On the other note, it looks like Portland is in the mid of some big housing bubble.

Regards

DD

[fun4vnay2]

I agree cent percent by CONCHO

I have been a long time lurker in this site with little posts.

Let me tell you guys something about myself.
I hail from India and I am from one of the premier engineering colleges there. I got my BS in Electrical Engineering from a college which is ranked after IITs. I could not secure admission in IIT because I could not pass the entrance exams.
If one wants to study in premier colleges in India, there is only one way to secure admission: Work hard and Pass their exams with good marks unlike the admission criteria here in USA for top schools.
I took GRE with a score of 2200/2400. Most IITians get 2300+/2400 in GRE and 750+/800 in GMAT.
I came here for my MS in EE and had a very very easy sail with GPA of 4.0.

During my MS here in US school, I also worked as a tutor for undergrad engineering schools and I can tell you that in the second or third year of their under grad school, they are learning/studying stuffs which I did when I was in high school back home.

Aslo, I am here on Visa and wanted to add my experience about getting jobs in multibillion dollars company.
Whenever I apply for a job with any company, their first action is to fill up the particular position with any qualified american citizen and if and only if they can not find anyone qualified they hire foreign citizens. Obviously, their pay has to be competitive. Mind it , this is my and few of my friends personal experiences with big companies.

regards

DD

[fun4vnay2]

GUys,

Kewp is right.
A lot of people is dreaming and saying that because of hitech jobs, sandegio home prices would be sustained.
No way this is possible. Because of two reasons:

1) A lot of hitech jobs are moving out of SanDiego because of cost of living

2) Even if new hitech jobs are being created like some people are saying then these jobs do not pay enough to afford the median priced house in SD

I am a 31yr/male working in Qualcomm getting little bit over $100K, no way I can afford a house here.

[Author]

Posts