Quote:
Originally Posted by realacres
contd....
21.) My wife will divorce me if I don't buy a house or shall I show her the savings by not buying the house.
WRONG. She will divorce you if you do buy a house and go bankrupt trying to pay the mortgage. She won't divorce you if you rent a much nicer place than you can buy, and then take her to Paris for a month in an year, which you can do just by avoiding that suicidal mortgage.
Regards,
Realacres
--concluded--
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Realacres,
You have taken this post from an article about American housing and done some cut-n-paste, no?
Okay, don't take that seriously
That said, most points here are valid for India too. But some are not.
1. RE in the US has risen by an inflation-adjusted 1% only over the last 100 years. Which is why Warren Buffet said what he did. Indian RE has a slightly higher inflation-adjusted number. Btw, this is not too high, because, you will note that, in the 70s and 80s (when you got it real cheap) inflation rates were well in the double-digits and would have had a big damping effect on the inflation-adjusted rate of increase.
2. About the savings part as well as about the wife!
Unfortunately, most Indians (like most Americans) do not save in any other way than via RE, which is a forced saving. Unfortunately, this is the truth.
And yes, most wives will seriously contemplate a divorce if the husband has not bought a home by the time he is 40 AND he does not have much in savings. Unfortunately, this is also true in today's India!!!
But most of the rest of the post is equally applicable to India. And I commend you to have taken the time to put in this exhaustive list. Very informative and instructional!!!
cheers