Announcement

Collapse
No announcement yet.

No Property sales for the last one year in Chennai

Collapse
X
Collapse

No Property sales for the last one year in Chennai

Last updated: August 17 2009
266 | Posts
  • Time
  • Show
Clear All
new posts

  • Re : No Property sales for the last one year in Chennai

    Depression

    Hi Guy's
    A question what will happen if the US dollor tanks due to over printing of the currency and the rest of the world holding (especially China) US T bills/ currency and the effect this will have on the Indian currency and trade and RE ?
    Will there be a depression due to this effect?

    Can

    Comment


    • Re : No Property sales for the last one year in Chennai

      Dear friend,

      I do not think so.

      ks2071746
      Last edited March 31 2009, 12:29 PM. Reason: spell

      Comment


      • Re : No Property sales for the last one year in Chennai

        Interesting situation in the US ...

        Originally posted by can View Post
        Hi Guy's
        A question what will happen if the US dollor tanks due to over printing of the currency and the rest of the world holding (especially China) US T bills/ currency and the effect this will have on the Indian currency and trade and RE ?
        Will there be a depression due to this effect?

        Can

        Hi Can,

        Remember the Obama election slogan? "Yes, we can!"

        Well, an increasing number of analysts are now starting to say, "Yes, We Can't!!!"

        In other words, all this printing of money will do is one of the 2 below:

        1. If this money gets stuck in Banks to re-capitalise them (as its happening now), severe deflation will set in followed by depression (in fact the imminent emergency in the US is the possible failure of Agricultural crops coming season since Banks are not lending and the whole cycle is jeopardised!).

        2. If it gets out into the economy, severe inflation will set in literally sending the $$$ to the bottom.

        Already, global apetite for Treasury Bonds is showing alarming weakness as seen last week when sales nearly failed.

        Finally it might become a circular event with one arm of the Govt buying Treasury from another arm which issues them. This is called "Circular Jerking"!

        The prognosis is that in all probability the US is toast. And since it used to consume 25% of the World's output, the Asian Export growth model is also toast. Get used to a longish period of fairly depressed period in former Asian Tigers, Lions and other predatory countries!

        The other informed people may correct this argument with improved logic! I would much appreciate it.

        cheers

        Comment


        • Re : No Property sales for the last one year in Chennai

          US Dollar not even worth Re1

          US the biggest debtor of the world is going to print dollars in trillions to cover deficit. The actual value of dollar will not be even re1

          Comment


          • Re : No Property sales for the last one year in Chennai

            Originally posted by can View Post
            Hi Guy's
            A question what will happen if the US dollor tanks due to over printing of the currency and the rest of the world holding (especially China) US T bills/ currency and the effect this will have on the Indian currency and trade and RE ?
            Will there be a depression due to this effect?

            Can
            Already China does not want to hold US treasuries and started purchasing commodities like oil,copper etc.It has also started canvasing for alternate currency to replace US dollar.

            Coming to effect of weak dollar on Indian RE,once dollar becomes weak FDI and FII inflows will be much higher which will lead to hyper inflation(Remember 12% inflation few months back) which in turn will lead to hardening of interest rate.
            So even if RE price holds good due to weak dollar buyers will be killed by the high interest rate.

            Comment


            • Re : No Property sales for the last one year in Chennai

              Originally posted by wiseman View Post
              Hi Can,

              Remember the Obama election slogan? "Yes, we can!"

              Well, an increasing number of analysts are now starting to say, "Yes, We Can't!!!"

              In other words, all this printing of money will do is one of the 2 below:

              1. If this money gets stuck in Banks to re-capitalise them (as its happening now), severe deflation will set in followed by depression (in fact the imminent emergency in the US is the possible failure of Agricultural crops coming season since Banks are not lending and the whole cycle is jeopardised!).

              2. If it gets out into the economy, severe inflation will set in literally sending the $$$ to the bottom.

              Already, global apetite for Treasury Bonds is showing alarming weakness as seen last week when sales nearly failed.

              Finally it might become a circular event with one arm of the Govt buying Treasury from another arm which issues them. This is called "Circular Jerking"!

              The prognosis is that in all probability the US is toast. And since it used to consume 25% of the World's output, the Asian Export growth model is also toast. Get used to a longish period of fairly depressed period in former Asian Tigers, Lions and other predatory countries!

              The other informed people may correct this argument with improved logic! I would much appreciate it.

              cheers

              I agree to what you say, but I feel as long as U.S. dollar is the reserve currency, this may not happen. Would appreciate your comments.

              Comment


              • Re : No Property sales for the last one year in Chennai

                Dear friend,

                Is this called " living beyond one's reach" . In Tamil, we say " VIRALUKKU THAGUNDHA VEEKKAM " or " AGALAKKAAL VAIKKATHEY" . For the benefit of non Tamil members and guests, some one can translate in English?

                ks2071746

                Comment


                • Re : No Property sales for the last one year in Chennai

                  From DnaIndia.com

                  Ankur Jain, a finance professional who lived in a leased flat in the central business hub of Parel, a stone's throw from his office, has moved house. Till a few months ago, he was more than willing to pay a monthly rental of Rs34,000 for his one BHK flat since it meant a commute-free life. Now, with the downturn lopping 20% off his salary, he has moved to the suburbs. The leased flat in Vakola has brought his monthly rentals down to Rs16,000, which is why he doesn't mind the 40-minute drive and traffic snarls anymore.

                  There are many Ankur Jains out there, moving from city centre to the near and distant 'burbs to save costs. Data from the stamp duty and registration office in Mumbai shows a marked shift from south Mumbai to the suburbs. The number of leave and licence agreements registered in the island city has fallen from last year's 263 to 179 in January this year, a fall of 32%. In February, 2009, only 171 lease agreements were registered as against the previous year's 265, a fall of 35%.

                  In contrast, the numbers are swelling in the suburbs. In January 2009, there were 5,573 registrations, up 80% from last year's 3,093. In February, the growth was slower at 15%, up from 2,567 last year to 2,955 this year.

                  People are renting, not buying property With more and more people moving from South Mumbai to the suburbs to save costs amid the global downturn. The trend has brought down residential rentals in the island city.

                  The number of rental agreements has gone up. In January and February, the number of leave and licence registrations saw the highest growth in the last two years, suggesting that people are renting more instead of buying property. The rise in number of registrations has, however, not brought a revenue windfall for the government. In fact, revenue earned by the department has been the lowest this year.

                  On the 3,126 lease documents registered in the island city and suburbs in February - a rise of 10% over last year - the government earned Rs5 crore as stamp duty, compared to Rs 6crore last year. This confirms that people are moving to cheaper rentals.

                  The figure is similar for January. Despite a 71% rise in lease agreements registered in the island city and suburbs put together, stamp duty earnings fell marginally from Rs8.3 crore to Rs8.2 crore. Landlords are trying hard to avoid a further drop in rentals by throwing in freebies, like fully furnished flats and free parking areas.

                  Comment


                  • Re : No Property sales for the last one year in Chennai

                    Dear friends

                    Inflation for the week ended on 21-3-09 has come further down at 0.19% against 0.27 % the previous week.

                    But our beloved politicians are assuring us that india will not enter in deflation.

                    Most probably in one or two weeks we can see deflation in our country.

                    Let us pray for the best.

                    Thanks

                    chataara

                    Comment


                    • Re : No Property sales for the last one year in Chennai

                      Dear friend,

                      I will also pray for the best.

                      ks2071746
                      Last edited April 2 2009, 12:03 PM. Reason: spell

                      Comment

                      Have any questions or thoughts about this?
                      Working...
                      X