Prices doubled from 2009...enough said....
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  • ;) My DREAM house is built with these bricks.

    No, I was wondering, becoz people are buying Gold to offset inflation, so had this doubt, what inflation were they trying to bypass. The only thing, one can do with Gold is to exchange for ornaments or take loan on it. The loan will also be about 50-80% and not 100%, right ?

    Originally Posted by mangopeople
    How many gold bricks do you have ;)
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  • Originally Posted by JumboHulk
    Good analysis, but One thing is that , for me, I am yet to buy my first property so these bear calls give me hopes and feels positive while hunting. But I am damn sure that once I get my first property , after some years, I will myself turn to become bull :bab (3):looking for appriciation to my property or buying another property.


    Thank you for saying that. You are right, that happens to us. Staunch RE bear who is looking for a house and writing hundreds of words on this forum and in meetings and invoking builders greed at every second minute, undergoes a dramatic change overnight after he himself books a flat. Then he becomes an RE bull dreaming about daily price hikes. He also start considering himself a property pundit everytime there is a marked difference in prices. I have seen that happen several times.

    Nothing wrong with that...IMO thats what makes us humans.

    Originally Posted by amit3011
    Why are you wasting time on the forum? Please go and buy in those places,prices will appreciate 200%.


    I hate such comments. These are rude and uncivil. SOmebody can easily say these things to you--- "Go and sulk in your room and buy after an year when you will get your property free".

    However, does this mean anything??? Reasonable debates are important.
    There are a billion people in India with as many opinions. Outright logicalness and rationality do not drive us humans, thats not in our genes. Our history is replete with stupidity of our ancestors who drove countries to wars for flimsiest of reasons....and here we are being rude each other trying to predict the future!!!

    Predict, but also try looking at things from other's POV.
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  • Originally Posted by NG2012

    I hate such comments. These are rude and uncivil. SOmebody can easily say these things to you--- "Go and sulk in your room and buy after an year when you will get your property free".

    However, does this mean anything??? Reasonable debates are important.
    There are a billion people in India with as many opinions. Outright logicalness and rationality do not drive us humans, thats not in our genes. Our history is replete with stupidity of our ancestors who drove countries to wars for flimsiest of reasons....and here we are being rude each other trying to predict the future!!!

    Predict, but also try looking at things from other's POV.

    That was not a comment but a question. If RE is appreciating by 20% Yearly, why waste time on forum, just go an buy and make money.
    Why should anyone avoid asking questions just because you hate those questions?
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  • Despite rising prices, homes most affordable in 30 years: HDFC - The Economic Times

    HDFC says that house is most affordable in last 3 decades and till the ration remains below 5, the demand will exist.

    The average house price calculated is 30 lacs. But even if you assume 60 lacs and Double Income of couples with 10 lacs each, the argument sustains. Also, guess the absolute no. of people with 15 lac + salary has increased dramatically in past 4 years and continue to do so.
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  • Originally Posted by neerajbans
    Despite rising prices, homes most affordable in 30 years: HDFC - The Economic Times

    HDFC says that house is most affordable in last 3 decades and till the ration remains below 5, the demand will exist.

    The average house price calculated is 30 lacs. But even if you assume 60 lacs and Double Income of couples with 10 lacs each, the argument sustains. Also, guess the absolute no. of people with 15 lac + salary has increased dramatically in past 4 years and continue to do so.


    Crap article. It says property prices have gone up from 15 lacs to 30 lacs in last decade i.e. just doubled :bab (59):.

    How can you trust other data ?
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  • These people have now changed the definition of affordability and we people are giving all possible reasons to justify these articles.

    A husband can not afford to buy from his salary so you add his wife's salary to conclude they now has affordability? So people can't buy house before marriage?

    In 2004/2005, when a fresh engineer starting IT career was getting package in the range of 2.5 lakh to 3 lakh range. After one year of service, he was able to buy 2 BHK in decent locality in pune like warje, bavdhan, baner, aundh etc that time and without getting marriage.

    In 2011/2012, a fresher in IT is getting same package range but can't even afford 1 BHK on his own in fringe areas forget about decent localities mentioned above. I have seen number of such example.

    Is this called affordability increased? I think in marriage also now a days home+car is basic necessity and the well-settled working couple scenario can not drive demand of huge housing inventory in pune. Such working couples has got area constraints to find easy accessibility for their daily needs of day care and schooling of their kids.
    Moreover non-IT working couple can't even compete with earnings of 8-10 years experienced IT guy. They can't even able to buy decent 1 bhk in city.

    Due to IT industry in pune the non-IT people are finding very difficult to own house with basic amenities.
    I really doubt the intention/timing of all these economic times article.

    Originally Posted by neerajbans
    Despite rising prices, homes most affordable in 30 years: HDFC - The Economic Times

    HDFC says that house is most affordable in last 3 decades and till the ration remains below 5, the demand will exist.

    The average house price calculated is 30 lacs. But even if you assume 60 lacs and Double Income of couples with 10 lacs each, the argument sustains. Also, guess the absolute no. of people with 15 lac + salary has increased dramatically in past 4 years and continue to do so.
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  • Originally Posted by amit3011
    That was not a comment but a question. If RE is appreciating by 20% Yearly, why waste time on forum, just go an buy and make money.
    Why should anyone avoid asking questions just because you hate those questions?


    If thats a question, it was't a right one. How much time it takes to buy a property? 24x7x365??? No, it doesn't. Investing in RE is NOT like a regular job where one works all day long and has no time to write on forums.

    Whether RE will increase or won't is hard to say. We mere mortals just do not have answer or the timeline for this. Buyer may think its unreasonable and seller may think its very reasonable. It all depends on what side of RE barrier you are at that moment.

    The truth is almost everything in India has doubled or tripled in last decade and so expecting RE to lag behind is unreasonable. Only thing that has not kept pace with inflation is IT guys salary.
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  • Originally Posted by NG2012
    The truth is almost everything in India has doubled or tripled in last decade and so expecting RE to lag behind is unreasonable. Only thing that has not kept pace with inflation is IT guys salary.

    RE has gone up by atleast 4-5 times in past 6 yrs flat. Nothing else has gone up this way. Not to forget that interest rates too have gone up drastcially.

    High prices + high interest rates = less affordability.
    And as far ITG salary is concerned, when it has not grown alongwith inflation, how will their savings rise ?? This will lead to lower capacity for repayment, not to forget that loan amount too has now reduced compared to 2006.

    No point in comparing things which are bough outright that too ready possessions Vs RE prices !!
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  • Thanks everyone posting the data/analysis/views which prove that the RE bull theory has proved right. No other asset class has shown such an appreciation.
    No other asset appreciation evokes so much emotional reponses (never heard terms "crooked gold traders" or "crooked stock brokers" or "crooked forex traders"). Where as "crooked builders" finds such an acceptance on this forum :)

    Residex has given up collecing data I guess

    http://www.nhb.org.in/Residex/PUNEres.php
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  • Originally Posted by compuwalah
    Thanks everyone posting the data/analysis/views which prove that the RE bull theory has proved right. No other asset class has shown such an appreciation.
    No other asset appreciation evokes so much emotional reponses (never heard terms "crooked gold traders" or "crooked stock brokers" or "crooked forex traders"). Where as "crooked builders" finds such an acceptance on this forum :)

    Residex has given up collecing data I guess

    National Housing Bank


    ....But a pin lies in wait for every bubble. And when the two eventually meet, a new wave of investors learns some very old lessons: First, many in Wall Street – a community in which quality control is not prized – will sell investors anything they will buy. Second, speculation is most dangerous when it looks easiest. (Warren Buffet regarding Dot com bubble)
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  • Maybe Transparency and good Price Discovery?

    Originally Posted by compuwalah
    Thanks everyone posting the data/analysis/views which prove that the RE bull theory has proved right. No other asset class has shown such an appreciation.
    No other asset appreciation evokes so much emotional reponses (never heard terms "crooked gold traders" or "crooked stock brokers" or "crooked forex traders"). Where as "crooked builders" finds such an acceptance on this forum :)

    Residex has given up collecing data I guess

    National Housing Bank



    Hint! Good regulation. Decent transparency. Price discovery. Liquidity.

    When you buy any of the 3, you get quotes every second, confirmation of your purchase is electronic and instantaneous with a trail for verification if necessary. Quality of gold can be done independently and people put behind bars if they cheat. Even brokerage is stated well in advance and its highly competitive.

    If you noticed, the other 3 - Gold, Stocks, Forex - creates a fairly level playing field for even the smallest of players.

    So, even the smallest guy FEELS he is getting a fair deal and win or lose, thats his problem.

    Come to RE. Can you ask the builder ... "why so much?" and get a decent and informative response?

    Can you ask the broker to work on your behalf and for your benefit and not rob you blind?

    In RE, exactly the opposite happens. Therefore, the guys who stack things in their favor - who might that be? :D - get to be called "Crooked".

    I didn't think it would be such a surprise for you!

    cheers
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  • Originally Posted by compuwalah
    Thanks everyone posting the data/analysis/views which prove that the RE bull theory has proved right. No other asset class has shown such an appreciation.
    No other asset appreciation evokes so much emotional reponses (never heard terms "crooked gold traders" or "crooked stock brokers" or "crooked forex traders"). Where as "crooked builders" finds such an acceptance on this forum :)

    Residex has given up collecing data I guess

    National Housing Bank


    Even you also posted a big analysis (post) few week back which was thrashed (with factual data) by many and you rather than defending your analysis you chose to run away from forum for week or so.
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  • Originally Posted by wiseman
    Hint! Good regulation. Decent transparency. Price discovery. Liquidity.

    When you buy any of the 3, you get quotes every second, confirmation of your purchase is electronic and instantaneous with a trail for verification if necessary. Quality of gold can be done independently and people put behind bars if they cheat. Even brokerage is stated well in advance and its highly competitive.

    If you noticed, the other 3 - Gold, Stocks, Forex - creates a fairly level playing field for even the smallest of players.

    So, even the smallest guy FEELS he is getting a fair deal and win or lose, thats his problem.

    Come to RE. Can you ask the builder ... "why so much?" and get a decent and informative response?

    Can you ask the broker to work on your behalf and for your benefit and not rob you blind?

    In RE, exactly the opposite happens. Therefore, the guys who stack things in their favor - who might that be? :D - get to be called "Crooked".

    I didn't think it would be such a surprise for you!

    cheers


    wisey. good point you made. But lets step back. Why would you not ask a gold trader "Why so much ?". This fair deal is just a acceptance based on some common understanding. Its akin to somehting like this. You will not ask a beverage vendor why champagne is Rs 10,000. But if hotel next to you bumps up price of say navratan korma by Rs 50, hell breaks loose. This world has unique characterstics. The gold that cannot given you anythign other than just a feeling you have something whereas RE serves a essential end purpose. You are gonna eat or stay inside the gold ?

    A burgular (some Harshad Meheta in case of paper gold or some real thief in case of physical unless you have Dad like SanjanaSingh :) ) can bring your portfolio to some decent level without before you even know about it and instantly have infinite negetive gammas and deltas . Same true for stocks.

    Baki samajhdaar ko ishaara kaafi hai.
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  • Originally Posted by AJ2008oo
    ..... Second, speculation is most dangerous when it looks easiest. (Warren Buffet regarding Dot com bubble)


    I like this. Man you have uncovered a hidden gem. This is exactly what I was talking about. All the speculation by bears in last few years have been exactly this. Every negetive news was portrayed and linked to the fall in RE prices. It looked easiest. Didn't it :bab (59): (first time using this emotocon) ? These are few one I remember. You wouldbe surprised what not has been linked to RE fall in last so many years. One day some person linked fertility fallt o RE fall. But here are few one posted by sensible members. Interest rate hike to RE fall, Santander bank crisis RE fall, Euro zone crisis to RE fall, rise in stamp duty RE fall, new service tax RE fall, scorpio to RE fall, city sucks to RE fall, IT slump to RE fall, fight with wife to RE fall. ok last one was to chek if you are reading attentively .

    So point is that it looked so easy to speculate and hence had been dangerous. People who have delayed the buying indeed have learnt it.
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  • facts speak for themselves. 3 bhk flat costing 42 lakhs in 2007 now costs 85 lakhs in same project. some flats are still available in the same project. sadly in 2007 i had no financials backing now i built my own corpus but rates r unimaginably high.

    undoubtedly those who bought in 2007 stand gainers. it would be highly questionable to expect prices would equal 42 lakh for same project for 3 bhk leave alone coming below that.
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