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Builders & Real Estate Bulls Theory Proved Wrong

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Builders & Real Estate Bulls Theory Proved Wrong

Last updated: November 1 2016
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  • Re : Builders & Real Estate Bulls Theory Proved Wrong

    Misplaced Priorities

    Originally posted by rocknrolls View Post
    Why work? Why earn money? Why save money for our future?
    Why not seat idle at home, if anyway we all are going to retire one day?

    Tell me what is simpler?

    Hum sab is rang manch ki kathputliyan hai jahapanah... So we have to play our part whether its simple or difficult.

    Ambani brothers could easily rent a Mediterranean island and live rest of the life on FD interest. That would be really simple. But thats not what they are here for. So they are playing their part.

    Don't want to get spiritual but try and google following, when and if you have time and interest.
    1) Brahmacharya Ashram
    2) Grihastha Ashram
    3) Vanaprastha Ashram
    4) Sanyasa Ashram
    Adding some colour for rocknroll to understand easily... read the whole post again .... and then interpret.
    what wrong with you .... where it appears from my post to not work and retire rather its the reverse....
    Forget buying rather work hard and leave home buying to the Retirees

    Originally posted by rocknrolls View Post
    Why work? Why earn money? Why save money for our future?
    Why not seat idle at home
    Getting some points from my old post and I am adding more points for rocknroll to think over.




    Comparing Builder and Owner nuisances.... Owner wins .!!..

    -Who is known to Be more Notorious ... Owner(Retired/Service class) or Builder ?

    -Who misleads you in Aggrement... Owner(Retired/Service class) or Builder ?

    -Who eats your money ... Owner(Retired/Service class) or Builder ?

    -Who makes you owner of few trucks concrete and Iron etc by paing 50+ Lakhs.. land is never in your name ..you are just owner of concrete... Owner(Retired/Service class) or Builder ?

    -Who delays your possession ... Owner(Retired/Service class) or Builder ?

    -Who has criminal cases on him... Owner(Retired/Service class) or Builder ?

    -If you don't pay he will send Goons... Owner(Retired/Service class) or Builder ?

    -If your job changes the house you can leave easily???Yes builder will arrange the Tenants for you ...

    Service sector of Metros will change job at least in 5 yrs ??

    -when your city changes will you Move and Pack your Flat too ?
    or before the new job you will take 1 month Break to buy a new flat in new city. (pay 6% SD+ Reg + 2% brokerage 8% )
    Just so the kids can paint the walls ?

    -Address change won't be required in that case when you buy new home in new city ???

    -Or home in Noida and job in Gurgaon .... ask those who travel and their family life.....


    As Wiseman has said earlier we(our Generation) instead of focusing in our career/Growth focusing more on Retirement needs.

    Is it Misplaced Priorities ....... Builders have created a fashion of RE.

    You don't go and buy Train Bogey if you frequently travel.
    You don't buy Courier company bcoz you have hundreds of Courier daily.

    Similar is staying in City for 'service sector'. As their jobs are Dynamic so are their place of stay.

    In Company terms stick to Core Business ...

    Thats just the service you use in EASY way.
    Now if some one ask you to do that you will laugh.

    For service sector its Job, IT its Value growth/Innovation/ New Products

    While this RE buying is making half of IT/Service workforce spending 2 Hours on Road bcoz instead of renting closer to Workplace they are choosing to Buy and Be Inflexible.

    IT/Service sector is all about Flexibility ?? is it not ....?
    Buying RE is making them Inflexible.




    Buying has lot many these hassles ......


    Why Marriage age is 18+
    Why don't teenagers get married....

    Why Driving age is 18+
    why 13 yrs can't drive .....

    they can on simpler roads but when the situation becomes tough they will do accidents.....

    apply same to youngsters buying flats ....
    first of all they are not Financially literate....
    They don't understand vices of land deals etc
    They are not comfortable Court/Lawyers etc....

    So 25 - 30 is not the right age to fall in buying home....
    No where it is said/written so but certain things are like that..... see around in rest of the cities......
    For ease some use CCards why don't carry cash ?

    So 'Teenager' is Over leveraged buyer and 'Car' is Flat bought at inflated prices and 'tough situation' is World economic uncertainty.


    So our young generation is diverted from Core issue.
    Even when the times are tougher ahead
    Economy, jobs expected to remain weak through 2014


    http://finance.yahoo.com/news/Econom...&asset=&ccode=


    Now tell me what is simpler

    Comment


    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      I think people who don't live in India cannot appreciate the need of owning an apartment in this country. Most people don't mind living in cramped conditions as long as it is owned. Personally India is not for the fainthearted. People who have lived abroad have become soft. Don't question the need to own a house on the basis of logic. 25-30 year old ppl in my building end up buying in Mira road/Virar and other places. It is not the India of your fathers time. As long as one appreciates this fact it becomes easier to see why the situation is what it is. No amount of logical thinking will be able to justify the real reason to own a house either at obscene prices or at god forsaken location. However If you don't assimilate you run the risk of being run over by a road roller.

      A broker told me once about the people who work in Dubai and keep visiting India. He is like every 3 years they come and ask me "What is rate going ?" and then say "Oh It has increased so much" and then they come back after 3 years.

      Even though I own some flats I am praying frevently to all the 108 crore gods for a nasty correction. It will help me buy in the area I want too. However I don't know when those prayers will be answered.
      Last edited by rameshyahoo; October 6 2010, 08:01 AM.

      Comment


      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by rocknrolls View Post
        I tend to agree with asdf2357 here although I do appreciate the guidance seniors provide to fellow members.

        I think this renting argument goes overboard many times. Its advised to rent as if renting/stock investment is the best medicine for every house buyer's woes. I beg to differ here though.

        1. If I rent a house (a big plush house in posh area for peanuts), I can still be kicked out by my landlord on a month's notice. I don't want to see myself running around for a new house to be rented in the same locality.

        2. I have school going kids. Although renting gives me the flexibility to rent anywhere in the city, it does not guarantee admission to a good school in the new area.

        3. When I rent a house I can not make any changes inside that house. Small things like sticking Alphabet charts/ cartoon characters on the walls, hanging my kids photo frames on the walls etc. What if my kids write something on the walls?? I don't want to restrict my kids from enjoying their childhood.

        4. My relatives & good friends live in a particular area and given a choice I would like to live in the same area. I do value their emotional and social support at times. Also I don't know if I'll be able to find good places to rent, good land lords in the same area forever. My kids have developed their own circle too. I consider it an important part of their upbringing.

        5. I do not want to keep on updating the address for my bank a/c, dmat a/c, Ration card, life/vehicle insurance policies, employer records, electoral rolls, outstation relatives etc. I have better things to do in life. I also travel abroad frequently and in case of some police clearance I do not want to visit multiple police stations for clearances. As I said I have better things to take care of in my life.

        6. The next place I rent might not provide me a parking facility. I love my vehicles just as I love my family members.

        So basically its not easy to find a place to rent, in the same vicinity as my relatives, that is owned by a "good" landlord, has a parking lot etc etc. Even if I get a place, a sword (getting kicked out) will always be hanging over my head.

        So a big NO to renting for above reasons (I haven't even touched the prestige/ego boost ones own home has to offer. Lets leave it for some other day).
        Nice sensible post from familiy man.

        Comment


        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by mahesh pune View Post
          Nice sensible post from familiy man.
          +1 to this. Although senior members are not ready to buy any argument on this. they can even prove you that renting forever is the BEST option, which will save you lots of money. One has to go by his conscience & buy as per his need & affordability.

          I have seen senior members advising to stay on rent, save money & spend it on other better things in life (in their opinion) like buying expensive cars, going on expensive trips, gifting expensive things to your wife etc etc. Fine but can't people's priorities be different? Why blame a person who thinks that I would prefer to buy a home (which is affordable to me) rather than spending heavily on expensive cars. gifts & holidays?

          I am no where trying to say that it's a must buy situation but definitely it's not a 'Never Buy' situation.

          Comment


          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            , So when did the senior member suggest - "Never Buy" ? Infact, all of us are on this forum bcos we want a property in Pune.

            The question is -- WHEN to BUY and at WHAT VALUE ?

            Senior members have only suggested time and again - rent for 2-3 years, get good enough cash under your belt and then take the plunge in 2013-2015.

            Todays hype,builder cheatings,rent:sale ratios, interest rates,infra in Pune,etc are all stacked up against a property purchase of Pune.

            Well, but for some, " own house" sickness or happiness is more important than financial stability or future risks - So Be IT.

            We are advising all to think PRACTICALLY not EMOTIONALLY.

            Comment


            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Originally posted by pcpune View Post
              , So when did the senior member suggest - "Never Buy" ? Infact, all of us are on this forum bcos we want a property in Pune.

              The question is -- WHEN to BUY and at WHAT VALUE ?

              Senior members have only suggested time and again - rent for 2-3 years, get good enough cash under your belt and then take the plunge in 2013-2015.

              Todays hype,builder cheatings,rent:sale ratios, interest rates,infra in Pune,etc are all stacked up against a property purchase of Pune.

              Well, but for some, " own house" sickness or happiness is more important than financial stability or future risks - So Be IT.

              We are advising all to think PRACTICALLY not EMOTIONALLY.
              For Indians, social compulsions are more obligatory than logical financial decisions. Basically it is the herd mentality. If others are buying home... I should not miss the bus?

              Comment


              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                I would urge people not to buy in Pune. Din't you read the thread "Once you buy in Pune, you are doomed". What else need to be done to scare daylights outta you. If you people decide not to buy then there will be some chance of correction and then I can go and buy some good place for me.

                Don't ppl see what is "really" being conveyed in this forum and still think of buying

                Comment


                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Hasn't realacres always says not to buy irrationally, and same time supported those who really had a need to buy ? Ask harishkulks.
                  The above post actually is rational buying if he has not over-leveraged. While not all cases are like this. Does a 25-30 year old has school going childrens ? Haven't you seen irrational buying spree amongst many youngsters ? Also those who complain about changing flats every 11 months, have they explored option to lease for 2-3 years ?
                  And, can't you still make out the fact that, everyone on this forum wants to buy and that's why we are here. Its just the fact that some of us don't want to compromise heavily, on leveraging, infra, and giving up the good things of life just for having the satisfaction of your own home. I support realacres when he says no to buying on over-leveraging urself and compromise the quality of life of urs and urs family. But you can buy without that, can still afford a car, nice furniture for ur home and good schooling for ur children, then go ahead and buy. The fact is, majority people who are inclined to buy now, can't afford it without over-leveraging (me included). Hardly anyone has enough savings to do a decent down payment of 50% or more. If so, why not rent and live happily is the question.



                  Originally posted by rsatitkar View Post
                  +1 to this. Although senior members are not ready to buy any argument on this. they can even prove you that renting forever is the BEST option, which will save you lots of money. One has to go by his conscience & buy as per his need & affordability.

                  I have seen senior members advising to stay on rent, save money & spend it on other better things in life (in their opinion) like buying expensive cars, going on expensive trips, gifting expensive things to your wife etc etc. Fine but can't people's priorities be different? Why blame a person who thinks that I would prefer to buy a home (which is affordable to me) rather than spending heavily on expensive cars. gifts & holidays?

                  I am no where trying to say that it's a must buy situation but definitely it's not a 'Never Buy' situation.

                  Comment


                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Originally posted by rsatitkar View Post
                    I have seen senior members advising to stay on rent, save money & spend it on other better things in life (in their opinion) like buying expensive cars, going on expensive trips, gifting expensive things to your wife etc etc.
                    If this is the message that comes out of what seniors are trying to say then I am afraid to say that the seniors are not doing a good job. (I don’t count myself as a RE knowledgeable person).

                    However what I have understood from seniors on this forum is importance of affordability and non-excessive leverage. My understanding of what seniors are saying here is not that one should buy expensive gifts or expensive cars. They have been constantly saying that excessive leverage should be avoided. (So if one has to take excessive leverage to buy a expensive CAR even that is bad). At the same time I see their view point about buyers being sold pathetic property on outskirts with lack of basic infra, water, roads etc. Given a view of the above the seniors say that instead of buying by over leveraging or buying at pathetic locations with lack of basic amenities it is better to Rent. I might be incomplete in my explanation above but it is a brief of what they have been saying.

                    Pls correct me if I am wrong in my understanding.

                    Originally posted by rsatitkar View Post
                    Fine but can't people's priorities be different? Why blame a person who thinks that I would prefer to buy a home (which is affordable to me) rather than spending heavily on expensive cars. gifts & holidays?


                    If one has to sacrifice expensive holidays, gifts and expensive Cars for buying RE then I agree completely with you one should sacrifice them.

                    But if one has to sacrifice modest Car, modest gift and modest holiday for 10-15 years then there is a problem. Pls note although subjective there is a difference between modest Car, modest gift, modest holiday and Poor Car, poor gift and poor holiday.

                    If I am not mistaken this (the above 2 lines) is what some of the senior members have also been trying to tell.

                    What I personally tend to ignore are posts like Crash to happen in 6 months etc. etc. AND the opposing posts like since crash did not happen means prices will double in the next 6-9 months.

                    VK
                    Last edited by veeemkay; October 6 2010, 12:41 PM.

                    Comment


                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Originally posted by aditi sharma View Post
                      Hasn't realacres always says not to buy irrationally, and same time supported those who really had a need to buy ? Ask harishkulks.
                      The above post actually is rational buying if he has not over-leveraged. While not all cases are like this. Does a 25-30 year old has school going childrens ? Haven't you seen irrational buying spree amongst many youngsters ? Also those who complain about changing flats every 11 months, have they explored option to lease for 2-3 years ?
                      And, can't you still make out the fact that, everyone on this forum wants to buy and that's why we are here. Its just the fact that some of us don't want to compromise heavily, on leveraging, infra, and giving up the good things of life just for having the satisfaction of your own home. I support realacres when he says no to buying on over-leveraging urself and compromise the quality of life of urs and urs family. But you can buy without that, can still afford a car, nice furniture for ur home and good schooling for ur children, then go ahead and buy. The fact is, majority people who are inclined to buy now, can't afford it without over-leveraging (me included). Hardly anyone has enough savings to do a decent down payment of 50% or more. If so, why not rent and live happily is the question.
                      Agreed.!!!!!

                      Comment

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