wiseman

Folks,

When discussing some of the shortcomings of the RE market, I had, quite a while back, suggested (not the first to do so) that we have a well-regulated, price discovery mechanism like the Stock or Commodity market.

So, we can have electronic quotations, documents could be made available for scrutiny, properties could me put on the exchange for sale and people could come in and bid with bidders having to put in a small refundable deposit (to ensure only serious players bid) and sales could go on with much greater liquidity and transparency.

But for all this the Govt has to step in and create regulations to clean up RE first. We need to have security of buyers (which is guaranteed abroad) so that we don't have the grand-nephew two times removed of the seller come in 15 years later and litigate on some flimsy excuse and we do not have duplicate and triplicate documents being used to sell the same property several times simultaneously to various people. In short, to prevent fraud and black money!

Till then, rest assured that the RE market will always be in this hole with poor liquidity and all kind of rumored pricing mechanisms and this may prevent you from ever discovering the true value of your property.

I believe this poll should have been titled

"What Model Should Housing Projects be Driven By?"
1. User Driven
2. Builder Driven
3. Govt Driven
4. Rumor Driven
5. Whatever Driven

This is just an example. Not totake it literally as if I'm recommending it.

Just my 2c.

cheers