As I had said that there will be a cyclical effect and first decoupling from us will happen and then recoupling will happen. In this recoupling Indian economy will govern the US economy.
They will follow our markets and change accordingly. We will also increase there consumption levels and investment levels
Here is the first step in the same.
RBI norms paving way for HNIs to buy property abroad?
With the RBI raising the cap for remittances abroad, high net worth individuals will now be raring to buy property abroad. They might look to suburban London, South East Asia and West Asia.
Looking to diversify your property investment portfolio? You can now look beyond the obvious tier-I and tier-2 cities in India. With the Reserve Bank of India doubling the limit for individuals to remit, to USD 200,000, investors will look to buy property abroad. Experts say, while markets like New York and London might still be out of reach, Thailand, Singapore and the UAE might be attractive.
One can get a 2BHK apartment for 180,000 pounds or about Rs 1.5 crore in Enfield in suburban London. You can buy a villa in Patong Bay, Phuket, Thailand for Rs 2 crore and 2-bedroom villas in Bali for as little as Rs 1 crore.
Consultants say it's not yet clear whether the entitlement can be applied in meeting mortgage commitments.
Pranay Vakil, Chairman, Knight Frank said, “Suppose the house is for a million dollars and it's to be paid over a 10-year period. Can we pay USD 200,000 in meeting the mortgage liability like an EMI. If that is possible then the window is even bigger and the ability of Indians to invest abroad will also go up. “
If this comes through, HNIs will be able to hold property in their own names instead of through their companies. And since in many foreign countries, down payments are just 10% of the cost of the property, they will also be able to pay up their mortgages faster.
Here comes India to the rescue of US' economy. We will also buy arms from them so another way to rescue their economy :)
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