Are you crazy ? It is about the future. I lost a lot of money just because I dont know how high price I was paying a companies shares when I was in buying spree last December. Lo behold ! within a month stock market tanked. I bought it because every tom, dick and harry was doing so. Had I known that I was buying at a heavy premium for these stocks, I wouldnt have done so.
Apply the same to realty. One good thing about the stock market is price discovery happens very fast, but that is not the case in RE. In few months, a plot goes up in value only after after a neighbouring plot is sold. Similarly downhill, it will take time to play out in RE.
gone_mad your plans look good - except that it is a few years late. Never mind. If your friend has bought a house and talks (rather braggs) to you, how his house has appreciated, do not get carried away.
I know many in India have an opinion, the RE market never loses out. In reality, never say never and there is always a first time and this could be it.
Do stick around in this forum, you may find it useful.
Thanks,
Salim.
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