For months on end I am noticing the bear talking. However regularly even those bears come to this forum and cry "price is not falling......... but it will fall.. it will have to fall". So they agree they have been wrong the whole of last 8 months with their bear cry but believe they will become right suddenly.
Those of you who are imagining property prices will fall might be woken up by hard news. For one, in bangalore prices are slowly inching up. In Chennai it never fell.
In most places shady guys like DLF with as much penchant for book keeping as Satyam are being pushed down by the stock market, but that is not because their land banks have become cheaper. It is because their books show non existing land banks.
Sooner or later RE will start shooting up and the imaginary correction and even worse the imagined fall of 70% by some will turn into a disaster for these bears with a rise of 100% in the next year or two.
Even stock market is at such lows that investors with sense are returning. SO if you are prudent, buy when it is supposedly falling and sell when it is supposedly rising. LEssons of 2003 when it suddenly started up after the dotcom drop should be used by investors, not listening to funny bear voices on this board.
Forget the hallucinating bears. THey belong to the land of the lotus eaters.
Read more
Reply
91 Replies
Sort by :Filter by :
  • Originally Posted by arun1288
    But 4000sq.ft is roughly 1.66grnds.the price is 3.5c,so it works to arnd 2.1c per grnd.so is this price down by 20% from the previous year?


    Exactly. This year will see further drop
    CommentQuote
  • I can tell u a simple thing. Kilpauk is a locality. I bet prices in a locality can vary terribly. For example Mylapore can have prices ranging from X to 3X very easily depending on road size, quality of the road (cheri or posh), accessibility etc. That holds good for Kilpauk too. So one has to be specific in his studies.
    CommentQuote
  • Originally Posted by Natarajg007
    I can tell u a simple thing. Kilpauk is a locality. I bet prices in a locality can vary terribly. For example Mylapore can have prices ranging from X to 3X very easily depending on road size, quality of the road (cheri or posh), accessibility etc. That holds good for Kilpauk too. So one has to be specific in his studies.


    I agree with Natraj that prices vary in a locality,but not sure of the value of x
    CommentQuote
  • Prices are not going fall in Chennai

    I have been monitoring the prices in the metros for the last one year.

    Except Chennai , at all other places the prices have come down by 10 - 15% on average.At some places the prices have gone up surprisingly in Chennai 2-5% in 2008.

    I don't think prices are going to fall in Chennai, backed by Black Money.
    CommentQuote
  • Even if it is black money, it can not flow continously.

    If white becomes short, in due course black also will dip
    CommentQuote
  • The Black Money Bogey ...

    Originally Posted by Nataraajg007
    Even if it is black money, it can not flow continously.

    If white becomes short, in due course black also will dip



    Black Money is a much used (and abused) Bogey. I believe it is used by a lot of people to justify their state of denial.

    The last time there was a RE Bear market, there was significant erosion of property prices - upto 80% in prime areas. And if I recollect right, back in those days there were so many more avenues for black money. Regulation was also not quite as tight as today. Even monitoring systems were more absent than in existence.

    I have not seen any data based argument on the exact impact Black Money has in damping the effects of a depression on any asset, especially property.

    So, if this argument is true, then why did it not prevent property from crashing in the '90s as it did.

    In my opinion (all arguments on black money are nothing but opinions), black money will remain a silent sufferer in a bearish period. Because, at least in the case of white, you can lament about how much you lost in % terms openly, when prices fall. In fact, using this argument about how much you lost, you can convince a buyer he is getting a real bargain!

    Can you openly go out and talk about how much black you lost in value due to falling prices? I believe not. I think in a bear market, black money will be silently squeezed out of existence - much like how the inflated values in the West is being made to disappear into thin air. Estimates are that as much as 40% (wow) of the wealth of this world has disappeared in the last 15 months. Where did it go? Exactly whare it came from. It was the cooking up due to the imagined rise in values. It finally became nothing but the hot air it was.

    Thats my position on the impact that black money will finally have on declines due to macro-economic factors. Basically, nothing. Would certainly like to hear counter arguments that may convince me otherwise.

    cheers
    CommentQuote
  • Originally Posted by wiseman
    Black Money is a much used (and abused) Bogey. I believe it is used by a lot of people to justify their state of denial.

    The last time there was a RE Bear market, there was significant erosion of property prices - upto 80% in prime areas. And if I recollect right, back in those days there were so many more avenues for black money. Regulation was also not quite as tight as today. Even monitoring systems were more absent than in existence.

    I have not seen any data based argument on the exact impact Black Money has in damping the effects of a depression on any asset, especially property.

    So, if this argument is true, then why did it not prevent property from crashing in the '90s as it did.

    In my opinion (all arguments on black money are nothing but opinions), black money will remain a silent sufferer in a bearish period. Because, at least in the case of white, you can lament about how much you lost in % terms openly, when prices fall. In fact, using this argument about how much you lost, you can convince a buyer he is getting a real bargain!

    Can you openly go out and talk about how much black you lost in value due to falling prices? I believe not. I think in a bear market, black money will be silently squeezed out of existence - much like how the inflated values in the West is being made to disappear into thin air. Estimates are that as much as 40% (wow) of the wealth of this world has disappeared in the last 15 months. Where did it go? Exactly whare it came from. It was the cooking up due to the imagined rise in values. It finally became nothing but the hot air it was.

    Thats my position on the impact that black money will finally have on declines due to macro-economic factors. Basically, nothing. Would certainly like to hear counter arguments that may convince me otherwise.

    cheers

    One more story telling. For one there was no great crash in 1990s except in Wiseman's hallucination and 80% crash is something that has happened only to Wiseman's Mylapore land which I guess is another figment of his imagination.
    This guy cant get his sale on time and is telling others what to do? He is the biggest bluffer on this board and any views he provides are more for spending his retirement time.
    CommentQuote
  • Originally Posted by wiseman
    Black Money is a much used (and abused) Bogey. I believe it is used by a lot of people to justify their state of denial.

    The last time there was a RE Bear market, there was significant erosion of property prices - upto 80% in prime areas. And if I recollect right, back in those days there were so many more avenues for black money. Regulation was also not quite as tight as today. Even monitoring systems were more absent than in existence.

    I have not seen any data based argument on the exact impact Black Money has in damping the effects of a depression on any asset, especially property.

    So, if this argument is true, then why did it not prevent property from crashing in the '90s as it did.

    In my opinion (all arguments on black money are nothing but opinions), black money will remain a silent sufferer in a bearish period. Because, at least in the case of white, you can lament about how much you lost in % terms openly, when prices fall. In fact, using this argument about how much you lost, you can convince a buyer he is getting a real bargain!

    Can you openly go out and talk about how much black you lost in value due to falling prices? I believe not. I think in a bear market, black money will be silently squeezed out of existence - much like how the inflated values in the West is being made to disappear into thin air. Estimates are that as much as 40% (wow) of the wealth of this world has disappeared in the last 15 months. Where did it go? Exactly whare it came from. It was the cooking up due to the imagined rise in values. It finally became nothing but the hot air it was.

    Thats my position on the impact that black money will finally have on declines due to macro-economic factors. Basically, nothing. Would certainly like to hear counter arguments that may convince me otherwise.

    cheers

    Wiseman, I have seen shameless people but you put all of them to shame. You continue to fart about RE but you have not once answered the question as to why you were talking bearish for almost 1 year but have not sold your Mylapore land. Are not you a Liar?
    CommentQuote
  • Originally Posted by Natarajg007
    Wiseman, I have seen shameless people but you put all of them to shame. You continue to fart about RE but you have not once answered the question as to why you were talking bearish for almost 1 year but have not sold your Mylapore land. Are not you a Liar?



    Donkey, Nats. You can't comprehend because you think you know it all but have left your brain somewhere in the commode :D

    cheers
    CommentQuote
  • Mr.Wiseman can u be more specific about the 90's crash? In which places there was 80% crash? if u could let us know it would be more helpful.
    CommentQuote
  • Originally Posted by Natarajg007
    Wiseman, I have seen shameless people but you put all of them to shame. You continue to fart about RE but you have not once answered the question as to why you were talking bearish for almost 1 year but have not sold your Mylapore land. Are not you a Liar?


    .
    will wiseman evade the ???


    the same as natraaaj007
    (same as natraaaaj007 replying about boiler inspector when asked about approval in the thread "lands at uthiremerur')
    CommentQuote
  • Friends
    It is immaterial why wiseman did not sell his property beforehand.
    When the requirement arises then only one will think of selling the property.
    Thanks
    chataara
    CommentQuote
  • All that matters is that I'm a seller ...

    Originally Posted by madrasi
    .
    will wiseman evade the ???


    the same as natraaaj007
    (same as natraaaaj007 replying about boiler inspector when asked about approval in the thread "lands at uthiremerur')



    Madrasi,

    Why I sold or didn't sell is a purely personal matter. It would be in the same league as my asking you why you did not visit the loo this morning :D! No offence, but you get the picture. This is NOT a soap opera or a reality show where all participants are expected to bare all (pun intended ;))

    As Chataara says, wholly immaterial to the forum (and its other members; except to totally wasteful guys like Nats who likes to pry into others personal matters since he has nothing better to do).

    Whats important is that, I have been consistent about my view on the coming crash in property prices. And my intent to sell property before its too late is consistent with my view. Whether I sold in Sep or get to sell now is a matter of timing and has other parameters affecting it, but please note that the intent is to sell asap.

    What you don't seem to understand - don't know in what other way I can state it to get you to understand - is that its wholly illogical that while Nats is seemingly bullish about the market and is goading everyone to "buy before its too late" he, on the other hand is a seller instead of following his own advice and being a buyer. That appears to me to be a first rate con job which will have the buyer holding the can while he ends up holding he cash for mistakes he made (similar to whats happening with the Bankers in the US, if you know what I mean).

    Of course, you are all too welcome to go buy his property at his prices if you so desire (and that is none of my business!!!)

    Anyway all this is too silly to continue with. Happy to tell you that the sale is in process with firm quotes (all white) in excess of 2c per ground (obviously won't tell you how much, will I? :))

    And obviously, I don't have silly excuses as to why I did not sell because one side of the buyers mustache was pink :D:D:D

    cheers
    CommentQuote
  • Continuing with Black Money, which played a big role in rocketing the RE.

    Wiseman is saying we have lot of regulation, law today,
    yet the Satyam scandal worth 7000+ crore was carried out successfully.
    I dont think there is any adequate measure to curb the black money in India.
    (If we raid everyone/home,I bet India will be the richest country in the world...):)
    Also,with RE rocketing by atleast 300%, how many ppl do you think got their salary or income atleast doubled,
    during the boom period from 2004 - 2008?
    I think the boom period was mainly carried out by Black Money.....Its my opinion....
    Unless my source of income dried up or I'm in deep financial trouble, I will not sell RE for loss.
    Only if supply exceeds demand the prices will come down
    Demand still exists; its only postponement not decline
    Prices will stagnate not come down much...Chennai is still in its peak...
    CommentQuote
  • Originally Posted by arun1288
    I was looking to buy a plot for the past six months,almost in all area in chennai.There's been a talk that the prices have dropped 30-40%,but in reality it does not appear so.In posh areas very few plots are available at very high price.I m still confused what to do,either go ahead and buy or wait.

    Arun


    Dear friend,

    Better wait for another 6 months.

    ks2071746
    CommentQuote