PointOfView

@compu: very good analysis.. you really dig deep in the threads.. :Applause:

I was going through some initial pages of Hubtown Countrywoods thread.. man o man.. prices were 2700 in 2010 and bears on this forum were saying not to buy. see now, project is near possession as some buyers have received pre-inspection letters. rates are 4k psf now.

tarcap

Guys,

After going thru thousands of posts on this forum I have understood that....

If one has the money for down payment... If one gets the desired loan... then no person can resist the temptation of buying his first/dream home....

Bears on the forum who give all kind of logic and reasons of recessions, affordability, of being slave to EMI ... etc etc... is complete bull s**t....

A smart guy will do this maths right.. visit the forum to check what people have posted about his dream project and then make the move....

After buying they continue to visit this forum to check if property prices have risen and if their flat location has developed further or not...

So the bottom line is...
people are smart... they do not need the experts of this forum to tell them right / wrong time to buy property.... they buy and come back to the forum just to feel proud of their decision....
nothing more ...nothing less...
i know that i am being honest.... so...take it ... or leave it...

raptorminty

u a damn right tarcap, tumne to meri mooh ki baat chinli....no matter how high the rates go there will be always buyers, the spectators will be mere spectators and will always try to reach the end of rainbow....which wont happen....the smart ones are those who hit the hot iron when ever they r comfortable and ready to take the risk....

compuwalah

Thanks POV. nice to know someone is reading thru the analysis and hope will be useful for future visitors. Not advising to blindly buy but keep in mind that the falls theory and rise theory are all speculations. Do not base your buy on any of such events. For end users if its in the means then do not prolong your search window over 6 months before finalising the deal if its for self use.

For investors advise is different. You are doing this for money so you have to take judgement but based on these extracts you should decide for yourself as how much weightage to give to the posts. Also you have alternate avenues to park money (though returns may not be that spectacular) till you think right buy price/right location combo has arrived.

ati11a

@Compuwalah & @tarcap: Excellent analysis guys!
One thing i understood from past 2-3 years on this forum is this, this forum underestimated the builders a lot and it tried to link global economy and IT with Pune real estate. In reality, builders turned out to have really deep pockets and were able to hold out a lot longer (yes there are ofcourse some exceptions where rates got reduced but over a time it again went up) and were not just dependent upon IT for their sales. Inflation too added a lot to these costs, but builders never trimmed their margin and ultimately buyers had to pay.
I am not saying global economy doesn't affect us, but in my experience i have seen the local economy (read shopkeepers, traders etc.) easily beating global economy (IT, manufacturing etc.). So as someone rightly said, if you can afford it, buy it.

kingsmead

perfectly said..in fact IT engineers can not afford to buy such expensive homes..the demand is clearly driven by many sectors..IT is just a fraction of total population who purchases RE..

for example..one of our relatives..a rich farmer has 3 flats in amanora township..clearly there is lot of demand of RE amonst all sectors..whether or not IT guys buys or not does not make any impact on pune RE..thats why pune RE prices are still increasing and most probably increase or in worst scenario would become stable but will not drop..

thats the fact..the earlier we understand this..the better it is for all of us..

ati11a

In todays Sakal (Marathi newspaper), i saw the following news: http://epaper.esakal.com/Sakal/30Aug...City/page3.htm

It mentions a businessman was duped by a builder for 72L, which he had paid as booking amount for 10 (TEN!!) flats! Even if we ignore the duping story, it points to people who buy flats in bulk which noone in IT or any wage worker can afford.
Even in my building, out of 40 flats (all sold out and people living there), just 3 are IT (including me). Rest are all from various profession: businessman, professor, CA, lawyer etc. And i can easily see that those nonIT people drive fancy cars (multiple sedans, SUV) vs hatchbacks (in my case not even that ) driven by IT.

realacres

A businessman, CA will never over-leverage. They think about money 24x7 .
And check professor & lawyer age. I am sure, they must be elder than you.
And they driving fancy cars itself shows they are not over-leveraged.

Sorry, but I think you have over-leveraged for sure.

__________________
IREF Rules - Read Me

PointOfView

Mods can we please update the thread title to
"Pune property rates will be down by Diwali 2009"

This will avoid any confusion and give a more clear picture as to which Diwali we are talking about..

ati11a

I dont think so. Atleast i still maintain a healthy bank balancr today and in last 2 yrs have got my loan tenure to <10yrs from 20 yrs.
Agreed that the lawyers etc. are 10+yrs older then i am. But still the point remains,for such people, 50+ or even 70+ lakhs houses are easily affordable. And pune has a huge number of such people.