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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

    Vaibhav,

    My post was a reply to Ankit that spending inherited money is not bad for the society. So he should not cirse the neighbours for destroying inherited wealth.

    Personally, I am against inheritance. I feel one deserves what one earns.

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    • Re : Builders & Real Estate Bulls Theory Proved Wrong

      Inheritance is not only money. We inherit our social, cultural, intellectual, emotional, physical and financial characteristics/identity/status from our ancestors. Separating financial inheritance from others will be a mistake.

      Originally posted by fatichar View Post
      Vaibhav,

      My post was a reply to Ankit that spending inherited money is not bad for the society. So he should not cirse the neighbours for destroying inherited wealth.

      Personally, I am against inheritance. I feel one deserves what one earns.

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      • Re : Builders & Real Estate Bulls Theory Proved Wrong

        Originally posted by tushart View Post
        Inheritance is not only money. We inherit our social, cultural, intellectual, emotional, physical and financial characteristics/identity/status from our ancestors. Separating financial inheritance from others will be a mistake.
        There are better ways of spending inherited money which benefits society better, than buying expensive wine and cars. See these:

        Bill Gates says he has no more personal use for money - Neowin
        BBC News - Bill and Melinda Gates give 95% of wealth to charity
        Buffett gifts to foundations total a record $2.6 billion - Omaha.com
        Meet The Man Who Gave His Entire $7.5 Billion Fortune To Charity And Inspired Bill Gates | Celebrity Net Worth

        Ever heard such stories in India??? Yes, you might have seen such numbers in billion dollars in news in India but in scams not in charity.
        Last edited by ankitnagpal; August 6 2013, 11:38 PM.

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        • Re : Builders & Real Estate Bulls Theory Proved Wrong

          Originally posted by tushart View Post
          Inheritance is not only money. We inherit our social, cultural, intellectual, emotional, physical and financial characteristics/identity/status from our ancestors. Separating financial inheritance from others will be a mistake.
          Yes, we inherit a lot of things. But how would abolishing financial inheritance be a mistake (if done by all countries)?

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          • Re : Builders & Real Estate Bulls Theory Proved Wrong

            We talk about inheritance of meony, asset, culture, tradition etc., and there are few who get to inherit the country itself.

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            • Re : Builders & Real Estate Bulls Theory Proved Wrong

              Originally posted by ankitnagpal View Post
              There are better ways of spending inherited money which benefits society better, than buying expensive wine and cars. See these:

              Bill Gates says he has no more personal use for money - Neowin
              BBC News - Bill and Melinda Gates give 95% of wealth to charity
              Buffett gifts to foundations total a record $2.6 billion - Omaha.com
              Meet The Man Who Gave His Entire $7.5 Billion Fortune To Charity And Inspired Bill Gates | Celebrity Net Worth

              Ever heard such stories in India??? Yes, you might have seen such numbers in billion dollars in news in India but in scams not in charity.
              There is no justification to the tone in your posts or the others who want to lecture people on how to live their lives - We live in a free country, and its not your call as to how people spend / waste / invest their OWN money. I dont understand the constant criticism of people who have inherited wealth. Are they robbing money from you ? Are they asking you for your opinion on how to spend ?

              There's really no use of venting out here in an online forum about some rich troublemakers in your locality. It does not add anything of relevance to the topic "Builders and RE bulls". They have crores, they're lucky to be born in their family. Get over it. Nothing you say on a small forum is going to change it.

              For what its worth, we have no right to comment on how anyone spends their money or their time - Each one has their own view, which in your eyes may be right or wrong, but that DOES NOT MATTER. While the middle class Indian says the rich man should give up his Audi and donate the money to the poor, the poor man will say the middle class should stop buying houses and cars, or watching movies because they cannot get by a day with two full meals.

              You're concerned about the investor buying too many flats in urban India and driving prices up, someone lower in the food chain feels you're responsible for a lot of inflation in their daily lives. The idea of people being restricted to buying only a particular amount of Real estate is even more absurd - this is some kind of communist ideology you're trying to preach out here. Last time I checked all the communist experiments of the last 120 years have failed miserably.

              So with that said, lets stop this incessant whining about our personal condition, about rich men buying Audis and BMWs with their own money and all. I think lecturing others on how they should live their lives, or where they should spend their lives is just a complete waste of time.

              PS : I am a middle class Indian, just like most of you, with approximately 0 inheritance.

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              • Re : Builders & Real Estate Bulls Theory Proved Wrong

                Thinking about inheritance should we also not count the fears, insecurities, knowledge, social skills, ability to understand things, patience, greed, love or hatred of things for no reason, ambitions? After all this is also what we inherit from our parents, isn't it?
                Most of the things we think of as our identity are mostly inherent in our family genes. We just got to accept it. So nothing wrong with good inheritance.
                You will find plenty of this new rich with complete lack of financial knowledge due to their knowledge inheritance. Then shouldn't one be happy that this guy is going to loose everything he has due to his lack of knowledge and the once who have knowledge, however poor he may be, is only going to build on what he has.
                And also what about people who inherit debt from their parents? Should they be pardoned by banks or lenders?

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                • Re : Builders & Real Estate Bulls Theory Proved Wrong

                  Well. Every thing in the world is driven by karmic theory. Soul has a karmic balance - good and bad. He gets his share in a life based on it. People can be blessed with money but may not be very wise, may have health issues, may get involved in crimes, may their relatives cheat them, may they have a short life. I just believe if someone gets inherited money its just that soul deserves it in that life may be to compensate for other stuff. May be soul has spent number of lives in at most poverty.
                  If your luck get you a lottery or right time right place scenario and education provided by parents help you reach a good position in life - will you deny that as well. Or if your ancestors have passed you genes which make you handsome and charming taking you into movies will you deny that as well?

                  Originally posted by fatichar View Post
                  Yes, we inherit a lot of things. But how would abolishing financial inheritance be a mistake (if done by all countries)?

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                  • Re : Builders & Real Estate Bulls Theory Proved Wrong

                    Originally posted by onnoval View Post
                    And also what about people who inherit debt from their parents? Should they be pardoned by banks or lenders?
                    From what I know, people inherit debt only upto the wealth inherited by them. If someone inherits 1 crore and debt was 2 crores, the heir doesn't need to pay 1 crore from pocket.

                    Similarly, posthumous awards are given to family, but punishment is not given.

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                    • Re : Builders & Real Estate Bulls Theory Proved Wrong

                      Originally posted by tushart View Post
                      Well. Every thing in the world is driven by karmic theory. Soul has a karmic balance - good and bad. He gets his share in a life based on it. People can be blessed with money but may not be very wise, may have health issues, may get involved in crimes, may their relatives cheat them, may they have a short life. I just believe if someone gets inherited money its just that soul deserves it in that life may be to compensate for other stuff. May be soul has spent number of lives in at most poverty.
                      If your luck get you a lottery or right time right place scenario and education provided by parents help you reach a good position in life - will you deny that as well. Or if your ancestors have passed you genes which make you handsome and charming taking you into movies will you deny that as well?
                      The theory of soul is just a belief. It has no scientific evidence, and not everyone believes in it.

                      Yes, we can not take away a lot of things that are inherited. But how does it prove that wealth inheritance is good. This is like arguing
                      'why should murder be a crime? Then are you going to prevent soldiers from killing enemies? '

                      I want a society where everyone will get equal opportunity. Now this is not possible. But our efforts should be in that direction.

                      Consider an academically brilliant but poor student. He studies hard and gets in to IIT. He takes loan to pay fees. After graduation, he gets about 5L CTC. Even after working for 10 years, he will not be able to buy a decent size plot in a city like Noida, forget Delhi and Mumbai. This is the situation of a brilliant student. Think about others.

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