Hereby I will prove how the realty boomers arguments are false.

What are the boomers arguments?

1.) Buy today, houses always increase in value in the long run.
WRONG. House prices cannot increase more than incomes in the long run. This is obvious if you think about it. If house prices go up more than people can afford to pay, buying stops, like it has stopped now.
Even Warren Buffett have pointed out that houses don't increase in intrinsic value. Unless there's a bubble or a crash, house prices simply reflect current salaries and interest rates. If a house is 100 years old, it's value in sheltering you is exactly the same as it was 100 years ago. Then came the maintenance as the house didn't renovate itself. It also has taxes, and insurance - costs that always increase and never go away. The price of the house went up about as much as salaries went up.
To put this is simple perspective, vegetable were costing Rs.5-6/kg when 5 digit salary was a rarity.
Today, the prices have gone up by about 4 times but so have the salaries. So, sounds very much like the reasoning people use now when they talk about how much their father's house appreciated "in the long run" without considering that salaries rose a proportional amount.

2.) Renting is just wastage of money.
WRONG. As said before renting is now much cheaper per month than owning. If you don't rent, you either:

* Have a mortgage, in which case you are throwing away money on interest, tax, insurance, maintenance, costs that increase forever.
* Own outright, in which case you are throwing away the extra income you could get by converting your house to cash, investing in bonds, and renting a similar place to live for much less money. This extra income is sufficient for emergency expenses,retirement etc.

Either way, owners lose much more money every month than renters and that's assuming prices don't correct to very high level & everything is smooth in the economy.

3.) As a renter, you won't have any money left as you will spend them on vacations,cars & hence won't have equity/savings etc.
WRONG. Equity is just money. Renters are actually in a better position to build equity/savings through investing in anything but housing. Renters can get rich much faster than owners, just by investing in conservative stocks & bonds.

* Owners are losing every month by paying much more for interest than they would pay for rent. The tax deduction does not come close to making owing competitive with renting.
* Owners must pay taxes simply to own a house. That is not true of stocks, bonds, or any other asset that can build equity/savings. Only houses are such a guaranteed drain on cash.
* Owners must insure a house, but not most other investments.
* Owners must pay to repair a house, but not a stock or a bond.
* Owners lose their money as house prices reduce. The EMI's remain constant in spite of reduction in rates. At the end of loan tenure, they would have paid almost twice than that of current renters who will buy at logical rates. Keep interest rates in mind. Most of the EMI is not principal amount but interest.

4.) There are great tax advantages to owning a house.
WRONG. Many people believe you can just reduce your income tax by the amount you pay in interest, but they are wrong. Buyers may not deduct interest from income tax; they deduct interest from taxable income. And even then, the tax advantage is not significant compared to the large monthly loss from owning.

If you don't own a house but want to live in one, your choice is to rent a house or rent money to buy a house. To rent money is to take out a loan. A mortgage is a money-rental agreement. House renters take no risk at all, but money-renting owners take on the huge risk of falling house prices, as well as all the costs of repairs, insurance, property taxes, etc.

5.) RE is based on local factors, it's not a national phenomenon. RE of Delhi-NCR,Bangalore & rest of the cities has nothing to do with Pune RE.
WRONG. Lending rates remain the same throughout the country. ALL loans are harder to get. This will drive prices down everywhere.

6.) A rental house provides good income. So, you can rent if you have purchased as investment.
WRONG. Rental houses provide very poor income in hyped areas and certainly cannot cover mortgage payments. Remember there is almost 300% difference between EMIs & rent for the same house.

It's pointless to do the work of being a landlord if you can make more money with no risk, no work, and no state income tax by investing in assured good returns bond.

7.) If owning is a loss in monthly cash flow, but appreciation will make up for it.
WRONG. Appreciation is negative. Prices are going down. It only adds to the injury of already high EMI's.

8.) As soon as prices drop a little, the number of buyers on the sidelines willing to jump back in increases.
WRONG. There are very few buyers left, and those who do want to buy will be limited by increasing difficulty of borrowing now that many house owners are near bankrupt as they don't save anything at the end of the month due to high EMI's.
No one has to buy, but there will be more and more people who have no choice but to sell as their payments rise. That will keep driving prices downward for a long time.

9.) House prices never fall atleast in Pune.
WRONG. If you see the RE scenario of 1996, prices crashed by 50% & took a whole 7+ years to recover.
Exact 1996 scenario may not be there today but strong correction is inevitable across the city.

10.) House prices don't fall to zero like stock prices, so it's safer to invest in real estate.
WRONG. House prices won't be zero, but the equity or the principal amount you paid can be zero or even negative. What you will pay as EMIs later in actual terms is not for the principal amount but only the interest as house prices dip. So, you will be only serving the bank.

11.) Prices will soften gradually, won't crash immediately.
WRONG. Prices are falling off a cliff. No one knows exactly what will happen, but it looks like prices will continue to fall for long time. These are just more manipulation of buyer emotions, to get them to buy even while prices are falling.

12.) The bubble prices were driven by supply and demand alone.
WRONG. Prices were driven by low interest rates and risky loans & good returns for investors in initial phases of boom in 2004-05.
Prices went up, interest rates went up & buyers savings went down. So prices are violating the most basic assumptions about supply and demand.

13.) There is lack of land.
WRONG. Ample of land is available & continue to be even in future in Pune. Sales volume are down. Even in Japan (small country with less land), prices went down. Current prices here are the same as that of 23 years ago. If we really had a housing shortage, there would not be so many vacant rentals.

14.) If you don't own, you'll live in a cheap neighborhood later.
WRONG. For the any given monthly payment, you can rent a much better house than you can buy. Renters live better, not worse. There are downsides to renting, such as being told to move at the end of your lease, or having your rent raised, but since there are thousands of vacant rentals, you can take your pick and be quite happy renting during the crash. There are similar but worse problems for owners anyway, such as being fired and losing your house, or having your interest rate and property taxes adjust upward. Remember, property taxes are forever.

15.) There's always someone predicting a real estate crash.
TRUE, yet irrelevant. There are very real crashes every decade or so. Even a broken clock is right twice a day.

16.) Local incomes justify the high prices.
WRONG. The mortgage should be more than your 3 years earning. It is much higher today. Most are already in danger/red zone.

17.) You have to live somewhere.
CORRECT. But that doesn't mean you should waste your life savings on a bad investment. You can live in a better house for much less money by renting during the down slide in RE.

18.) It's not a house, it's a home.
WRONG. Wherever one lives in it is home, be it apartment, condo, bungalow , mansion or house. Calling a house a "home" is a manipulation of your emotions for profit.

19.) If you don't buy now, you'll never get another chance.
WRONG. History proves otherwise.
Here's a beautiful quote from a analyst:-
"The real issue isn't whether you will be stuck being a renter all your life, she says. Its whether you'll get so scared about being shut out that you'll buy at the market's peak and be stuck in a property you can't afford or sell."

20.) It would take major economic recession or a major earthquake that wipes out this area in order for the price to fall by over 50%.
WRONG. Even today, if the prices fall by 50%, there will still be very few people who can buy at this levels due to uncertainty in jobs & most importantly high EMIs. Also, look at the rental rates for equivalent houses. Which loss per month is larger? EMI or rent?

contd....
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  • Interesting ...

    Originally Posted by realacres
    Look friends,
    These builders earlier pleaded with Govt. to give them incentives so that they can launch so called affordable housing. Now, the builders have shied away from this & have dropped such projects. Wonder what the situation for the people in such projects would now be. Hence, I reiterate, go for ready poss only.

    ]http://www.realtyplusmag.com/rpnewsletter/fullstory.asp?news_id=4951&cat_id=1


    All of this started with excessive greed to amass more and more wealth as though one could spend all of this in one lifetime! :D

    So, while in the 1990s, it was not enough to be worth 100s of crores, in the 2000s it became fashionable to be worth Billions of $$$. People don't seem to understand that much of this is MAYA! The Maya of Credit or fake wealth. So, a Rupee today (rice at Rs.40 per kg) is probably worth only 12-15% of the one in 1990 (rice was around Rs.5 per kg then)! So, your 50k salary is probably worth around 6k of those days - and let me tell you, one needed to work much less and enjoy life much more in those days earning 6k as compared to earning 50k today!!!:D

    So, the DLFs of the world are in a complete mess. They are seeking to somehow get out of this mess which has locked in 1000s of crores in completely DEAD ASSETS which may not sell for years to come! And one such thing, in tune with the mood of the depressionary times, was low-cost housing. But no one seemed to figure that low-cost also meant low (or no) profits. And it is this profit they are really after, to bail them out of the debt mess.

    So, to make this profit, they cut cost even more than the end-price, giving poor quality. This may be okay for building Govt sponsored slums, but the buyers now are private buyers have a choice to walk away!

    So, whoever imagined that low-cost housing will somehow provide higher profits than too-high-cost housing must have his head examined. This is not going to happen. And DLF, being smart, figured this out early!!!

    cheers


    All of this started with excessive greed to amass more and more wealth as though one could spend all of this in one lifetime! :D

    So, while in the 1990s, it was not enough to be worth 100s of crores, in the 2000s it became fashionable to be worth Billions of $$$. People don't seem to understand that much of this is MAYA! The Maya of Credit or fake wealth. So, a Rupee today (rice at Rs.40 per kg) is probably worth only 12-15% of the one in 1990 (rice was around Rs.5 per kg then)! So, your 50k salary is probably worth around 6k of those days - and let me tell you, one needed to work much less and enjoy life much more in those days earning 6k as compared to earning 50k today!!!:D

    So, the DLFs of the world are in a complete mess. They are seeking to somehow get out of this mess which has locked in 1000s of crores in completely DEAD ASSETS which may not sell for years to come! And one such thing, in tune with the mood of the depressionary times, was low-cost housing. But no one seemed to figure that low-cost also meant low (or no) profits. And it is this profit they are really after, to bail them out of the debt mess.

    So, to make this profit, they cut cost even more than the end-price, giving poor quality. This may be okay for building Govt sponsored slums, but the buyers now are private buyers have a choice to walk away!

    So, whoever imagined that low-cost housing will somehow provide higher profits than too-high-cost housing must have his head examined. This is not going to happen. And DLF, being smart, figured this out early!!!

    cheers


    All of this started with excessive greed to amass more and more wealth as though one could spend all of this in one lifetime! :D

    So, while in the 1990s, it was not enough to be worth 100s of crores, in the 2000s it became fashionable to be worth Billions of $$$. People don't seem to understand that much of this is MAYA! The Maya of Credit or fake wealth. So, a Rupee today (rice at Rs.40 per kg) is probably worth only 12-15% of the one in 1990 (rice was around Rs.5 per kg then)! So, your 50k salary is probably worth around 6k of those days - and let me tell you, one needed to work much less and enjoy life much more in those days earning 6k as compared to earning 50k today!!!:D

    So, the DLFs of the world are in a complete mess. They are seeking to somehow get out of this mess which has locked in 1000s of crores in completely DEAD ASSETS which may not sell for years to come! And one such thing, in tune with the mood of the depressionary times, was low-cost housing. But no one seemed to figure that low-cost also meant low (or no) profits. And it is this profit they are really after, to bail them out of the debt mess.

    So, to make this profit, they cut cost even more than the end-price, giving poor quality. This may be okay for building Govt sponsored slums, but the buyers now are private buyers have a choice to walk away!

    So, whoever imagined that low-cost housing will somehow provide higher profits than too-high-cost housing must have his head examined. This is not going to happen. And DLF, being smart, figured this out early!!!

    cheers


    All of this started with excessive greed to amass more and more wealth as though one could spend all of this in one lifetime! :D

    So, while in the 1990s, it was not enough to be worth 100s of crores, in the 2000s it became fashionable to be worth Billions of $$$. People don't seem to understand that much of this is MAYA! The Maya of Credit or fake wealth. So, a Rupee today (rice at Rs.40 per kg) is probably worth only 12-15% of the one in 1990 (rice was around Rs.5 per kg then)! So, your 50k salary is probably worth around 6k of those days - and let me tell you, one needed to work much less and enjoy life much more in those days earning 6k as compared to earning 50k today!!!:D

    So, the DLFs of the world are in a complete mess. They are seeking to somehow get out of this mess which has locked in 1000s of crores in completely DEAD ASSETS which may not sell for years to come! And one such thing, in tune with the mood of the depressionary times, was low-cost housing. But no one seemed to figure that low-cost also meant low (or no) profits. And it is this profit they are really after, to bail them out of the debt mess.

    So, to make this profit, they cut cost even more than the end-price, giving poor quality. This may be okay for building Govt sponsored slums, but the buyers now are private buyers have a choice to walk away!

    So, whoever imagined that low-cost housing will somehow provide higher profits than too-high-cost housing must have his head examined. This is not going to happen. And DLF, being smart, figured this out early!!!

    cheers
    CommentQuote
  • Affordability trap

    Well said wiseman. Greed & not profits are responsible for builders' woes today. Here's an article about so called affordable project trap.

    http://www.mydigitalfc.com/real-estate/affordability-trap-171
    CommentQuote
  • And I forgot to add ...

    Originally Posted by realacres
    Well said wiseman. Greed & not profits are responsible for builders' woes today. Here's an article about so called affordable project trap.

    ]http://www.mydigitalfc.com/real-estate/affordability-trap-171


    Thank you!

    And one more thing I forgot to add, realacres!

    "Incentives" is nothing but "bailout" in other words. It has now become fashionable for everyone to take ridiculous risks with other people's money (OPM) and try to con someone. When things do not work (as they do not in 90% of enterprenurial ventures), they then run to the Govt to ail them out!!!;)

    So with these incentives you pay the builder in 2 ways. One is the payment for the property. The other is, indirect payment through increased taxes!!!

    cheers


    Thank you!

    And one more thing I forgot to add, realacres!

    "Incentives" is nothing but "bailout" in other words. It has now become fashionable for everyone to take ridiculous risks with other people's money (OPM) and try to con someone. When things do not work (as they do not in 90% of enterprenurial ventures), they then run to the Govt to ail them out!!!;)

    So with these incentives you pay the builder in 2 ways. One is the payment for the property. The other is, indirect payment through increased taxes!!!

    cheers


    Thank you!

    And one more thing I forgot to add, realacres!

    "Incentives" is nothing but "bailout" in other words. It has now become fashionable for everyone to take ridiculous risks with other people's money (OPM) and try to con someone. When things do not work (as they do not in 90% of enterprenurial ventures), they then run to the Govt to ail them out!!!;)

    So with these incentives you pay the builder in 2 ways. One is the payment for the property. The other is, indirect payment through increased taxes!!!

    cheers


    Thank you!

    And one more thing I forgot to add, realacres!

    "Incentives" is nothing but "bailout" in other words. It has now become fashionable for everyone to take ridiculous risks with other people's money (OPM) and try to con someone. When things do not work (as they do not in 90% of enterprenurial ventures), they then run to the Govt to ail them out!!!;)

    So with these incentives you pay the builder in 2 ways. One is the payment for the property. The other is, indirect payment through increased taxes!!!

    cheers
    CommentQuote
  • CommentQuote
  • Am I Right ? about Builders ???

    Hi, Forum,
    I think the picture about builders is looking like the most greedy community here !!!
    Everybody wish to come down the cost,……….. nothing wrong about it……………
    But what the builder can do when Land Cost is unbelievably high, Construction cost is high, Corporation Charges are high…………… & believe government is collecting revenue about 550/- ( Avg. Project ) Rs. PSU in the form of StampDuty, Registration Charges, SalesTax, Vat, Service Tax, Income tax etc. ( This Figure doesn’t includes the Excise duty paid on Construction products !!!).
    And above all the taste of living of people is going very high, the amenities & specification offered now-a-days was a part of interior decoration in past days, which the builders are offering within the quoted rates. ……… Apart from individual flat, the customer is getting the superb common amenities like….. Gym, Club house, Gardens, decorative campus, Swimming pools, Play areas, Play equipments, Solar systems, Party terraces , Power backups etc.
    How one can expect for low cost ????
    Builder has to face many other problems such as finance arrangement for such a huge investment, sanctioning & completing the project thro’ tedious burocracy etc………. & to work, till the project is well occupied & conveyanced….
    CommentQuote
  • Vijay,
    Prices are determined by demand and supply. There was a lot of demand that drove the prices up because a lot of people thought they had access to cash. Till 2004 RE prices in Pune were stable. Then came the boom (which was speculative in nature not based on any solid fundamentals). Cost to builders didn't go up considerable (may be marginally) but the profits soared like there was no tomorrow hence prices went up. Builders in 3 years raised RE prices 300%.

    Builders quoted 1500/sqft, people bought, builders made good profits hence they build. Now builders raise it to 2000 people believe that they might miss out so they bought. Then builders raised it to 2500 more people thought it would be a good investment buy and sell walk away with profits (flip the house) and few thought that they might miss the boat. Now builders get even more confident and raise the rates to 3000 and so on. It was like a game of poker, no one called the builder’s bluff till the world wide crash. Suddenly people realize that they can’t sell their expensive homes because there is NO demand. No one wants to pay half a crore for a 3 bedroom flat. The market sentiment changed.

    Builders/investors who have holding capacity will try to keep this inflated price high as long as they can; betting that demand will pick up. It is gamble. The present situation is that genuine people are not snatching up properties costing 30L plus. Reason being no genuine buyer ever paid more than 15 to 30L for a flat in Pune.

    Prices in Mumbai and NCR region have seen major corrections already. Let’s see how long Pune RE holds. Personally I see only 2 options.
    RE prices come down substantially OR don’t come down but hold steady for 7/8 years that will once again bring back the RE prices in line with the rest of the economy.
    CommentQuote
  • Originally Posted by mvijay
    Hi, Forum,
    I think the picture about builders is looking like the most greedy community here !!!
    Everybody wish to come down the cost,……….. nothing wrong about it……………
    But what the builder can do when Land Cost is unbelievably high, Construction cost is high, Corporation Charges are high…………… & believe government is collecting revenue about 550/- ( Avg. Project ) Rs. PSU in the form of StampDuty, Registration Charges, SalesTax, Vat, Service Tax, Income tax etc. ( This Figure doesn’t includes the Excise duty paid on Construction products !!!).
    And above all the taste of living of people is going very high, the amenities & specification offered now-a-days was a part of interior decoration in past days, which the builders are offering within the quoted rates. ……… Apart from individual flat, the customer is getting the superb common amenities like….. Gym, Club house, Gardens, decorative campus, Swimming pools, Play areas, Play equipments, Solar systems, Party terraces , Power backups etc.
    How one can expect for low cost ????
    Builder has to face many other problems such as finance arrangement for such a huge investment, sanctioning & completing the project thro’ tedious burocracy etc………. & to work, till the project is well occupied & conveyanced….

    What justifies 250-300% hike in prices from the day of booking to possession? Is land purchased on daily basis? Weekly hikes used to take place in boom period. Did other charges used to increase on weekly basis? Most builders take agri land at cheap cost & convert to NA. SO, don't tell us the typical logic of land price. If builders across the country can cut prices, why not Pune?

    Btw, I know all the charges the builders have to pay including bribes & yet the profit margins are well over 150-200% in many cases.
    The problem is builders are not making profit but greed. This is a fact.
    CommentQuote
  • land cost

    Originally Posted by mvijay
    Hi, Forum,
    I think the picture about builders is looking like the most greedy community here !!!
    Everybody wish to come down the cost,……….. nothing wrong about it……………
    But what the builder can do when Land Cost is unbelievably high, Construction cost is high, Corporation Charges are high…………… & believe government is collecting revenue about 550/- ( Avg. Project ) Rs. PSU in the form of StampDuty, Registration Charges, SalesTax, Vat, Service Tax, Income tax etc. ( This Figure doesn’t includes the Excise duty paid on Construction products !!!).
    And above all the taste of living of people is going very high, the amenities & specification offered now-a-days was a part of interior decoration in past days, which the builders are offering within the quoted rates. ……… Apart from individual flat, the customer is getting the superb common amenities like….. Gym, Club house, Gardens, decorative campus, Swimming pools, Play areas, Play equipments, Solar systems, Party terraces , Power backups etc.
    How one can expect for low cost ????
    Builder has to face many other problems such as finance arrangement for such a huge investment, sanctioning & completing the project thro’ tedious burocracy etc………. & to work, till the project is well occupied & conveyanced….



    There are just few projects in Pune where the land cost component is more then 20 percent, rest all projects the cost is 10 to 15 percent.
    CommentQuote
  • /*Apart from individual flat, the customer is getting the superb common amenities like*/

    Mvijay, dear whr do you find that these amenities are free of cost? when you buy a flat, builder will take money for these amenities (e.g. club house charges/ club house construction etc...) so let's say club house area is 400 sqft. (600 land rate * 400 = 240000 + const. + misc = 10 lacs max) and he will charge (50k to 2 lacs) from you. multiply it with number of flats.
    CommentQuote
  • MVIJAY!!!!

    Most of the points are covered above.

    Financing Costs!!!! What Financing Costs!!!!

    Most of the Builder plots / Flats etc. etc. are completely sold out and only a Few FLATS REMAIN in any project!!!! (THIS IS WHAT MOSTLY ALL BUILDERS CLAIM)

    SO someone needs to explain where does that money go if there needs to be more Financing!!!!

    I can say only one thing for Builders - First dig a grave for others then fall in that very same grave and then when the time comes to be buried cry saying why bury us social workers!!!!

    VK

    PS: Does the money paid for Flats go in buying Land?
    Who knows what SCAM cooks between the builders.
    E.g. X plot of land bought by Builder 1 from builder 2 for 10 Cr…
    then Builder 2 buys the same plot from builder 1 for 18 Cr…
    then Builder 1 buys the same plot from builder 2 for 28 Cr…
    then Builder 2 buys the same plot from builder 1 for 40 Cr…

    Finally one builder builds Apartment and says Cost of land high so Flats price is High… (I am not sure if the above scenario is true.. but I will not be surprised if Builders actually do that to SUCK BLOOD OUT OF MANGO MAN)
    CommentQuote
  • Golden Eggs & Hen.

    Originally Posted by jigarshah
    /*Apart from individual flat, the customer is getting the superb common amenities like*/

    Mvijay, dear whr do you find that these amenities are free of cost? when you buy a flat, builder will take money for these amenities (e.g. club house charges/ club house construction etc...) so let's say club house area is 400 sqft. (600 land rate * 400 = 240000 + const. + misc = 10 lacs max) and he will charge (50k to 2 lacs) from you. multiply it with number of flats.

    And in many cases the said amenities are not provided at all. The sample flat specs varies from that of actual flat in many cases.

    Does the builder return money if promised amenities are not given? No.
    Btw, I can show how to build same spec, amenities & location project at half the cost.

    I always remember that golden eggs laying hen's story when I discuss Pune builders.:D
    CommentQuote
  • CommentQuote
  • German economic recovery not till 2013: Bank chief

    http://www.zeenews.com/news565267.html

    Similarly, it is said that US is following Japan's pattern of 80's. Good news about economy is just hype & ground reality is far different. Over 5.5mn people will be losing unemployment benefits by Dec 09.

    In India, see the scenario:-

    In stock markets, FIIs pumped over $2.51bn in last 4 months & it's value is now over $20.1bn. Main reason:- Except for other markets, India had good bet thanks to strong US$ vis a vis INR.

    The liquidity was infused by the Govt. to make growth happen, similar to many other countries. The biggest issue they missed:-

    India already had fiscal deficit unlike other countries before pumping in money in the market. The inflation is going up, fiscal deficit is rising & 125 basis point hike in ROI will be by Feb 2010. All this indicates not all's good in the economy.

    Always remember friends, buying house is long term commitment, hence don't let small factors like artificial hike in RE prices etc. pressure you. These are just mind games played by builders in Pune now. It was already done in areas like Delhi-NCR & Mumbai earlier which failed miserably.

    Make your mind strong. That's the biggest asset buyers have.
    CommentQuote
  • bingo its Cheaper in US

    Originally Posted by realacres
    ]http://www.zeenews.com/news565267.html

    Similarly, it is said that US is following Japan's pattern of 80's. Good news about economy is just hype & ground reality is far different. Over 5.5mn people will be losing unemployment benefits by Dec 09.

    In India, see the scenario:-

    In stock markets, FIIs pumped over $2.51bn in last 4 months & it's value is now over $20.1bn. Main reason:- Except for other markets, India had good bet thanks to strong US$ vis a vis INR.

    The liquidity was infused by the Govt. to make growth happen, similar to many other countries. The biggest issue they missed:-

    India already had fiscal deficit unlike other countries before pumping in money in the market. The inflation is going up, fiscal deficit is rising & 125 basis point hike in ROI will be by Feb 2010. All this indicates not all's good in the economy.

    Always remember friends, buying house is long term commitment, hence don't let small factors like artificial hike in RE prices etc. pressure you. These are just mind games played by builders in Pune now. It was already done in areas like Delhi-NCR & Mumbai earlier which failed miserably.

    Make your mind strong. That's the biggest asset buyers have.

    ]http://finance.yahoo.com/news/Home-sales-fall-after-4-apf-2064841344.html?x=0

    US median sales price is now $177,700 thats 86 lakhs.
    So its cheaper to buy in US

    US median sales price is now $177,700 thats 86 lakhs.
    So its cheaper to buy in US

    US median sales price is now $177,700 thats 86 lakhs.
    So its cheaper to buy in US

    US median sales price is now $177,700 thats 86 lakhs.
    So its cheaper to buy in US

    US median sales price is now $177,700 thats 86 lakhs.
    So its cheaper to buy in US
    CommentQuote
  • even builders agree that rate wont go higher much, but correction in rate would also be not that significant

    Originally Posted by realacres
    ]http://economictimes.indiatimes.com/markets/real-estate/news-/Mumbai-high-street-rentals-see-biggest-crash/articleshow/5045017.cms
    CommentQuote