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Why Do Intelligent People make wierd Real Estate Decisions

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Why Do Intelligent People make wierd Real Estate Decisions

Last updated: April 23 2012
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  • Re : Why Do Intelligent People make wierd Real Estate Decisions

    all my posts are lost in the moderator black-hole.
    And not sure why TOI-Times Property keeps on mentioning every week that market is improving, buyers are back. They never carry any report on any market correction due to real issues

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    • Re : Why Do Intelligent People make wierd Real Estate Decisions

      Can you substantiate your claim with details? If true there are many who can benefit. Without details and specifics your post mean nothing. FYI

      Originally posted by frugality View Post
      small developers have started to crack now .... in Hadapasar one developer has sold 3 booking at 1950 .... I came to know from a buyer and his two friend did the booking.
      good news is just months away.

      Soon the cracks will appear

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      • Re : Why Do Intelligent People make wierd Real Estate Decisions

        I was not sure where to post this...

        Some cities / towns are really developing fast (I mean the Infra).. .. Thought of sharing this article...

        Was tempted to post this article in Nanded City thread.. .. but thought altough it would be fuuny but would defeat the idea why i posted it ..

        http://www.dnaindia.com/mumbai/repor...-india_1354105

        VK
        Last edited by veeemkay; March 2 2010, 01:14 PM. Reason: typo

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        • Re : Why Do Intelligent People make wierd Real Estate Decisions

          overstretching oneself

          http://www.indianexpress.com/news/ex...-child/597868/

          “Two years ago, Kumar took a loan of Rs 29 lakhs to buy their Thane house. He also took personal loans from people,” said Thane police commissioner Anil Dhere. He said Kumar clobbered his wife Sangeeta and daughter Tanshika (4) after a quarrel over frequent visits by debtors to their home. His elder daughter, Ayushi, 16, was sleeping in the other room.

          Why did one overstretch oneself ??
          While buying he may have never have imagined this .....
          feel sad for him but how may of us have done this....
          Not foreseeing the future eventuality taking the Job for granted....
          He was jobless just for 6 months ....
          And his sector is even better paying then "IT".

          Now who is to be blamed ... or to be held guilty?

          Builder ?

          Govt. (for no regulation in one of the primary human need) ?

          Society (for inducing greed and pressure) ?

          Himself ?
          Last edited by frugality; March 31 2010, 10:09 AM.

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          • Re : Why Do Intelligent People make wierd Real Estate Decisions

            This is indeed a very tragic incidence. This happened in US and it can happen here again.

            Forclosures for inability to pay are not new in western world. In such situation, in India we get too emotional. Like somone stated in one of the threads, in India pressures from peers, spouse, girlfriend, siblings and even parents push individuals to get into to such debt and no single entity can be blamed for this. Luring ads from crook builders add to it.

            Everyone needs to read rich dad poor dad. It has treasure of advice on personal finance and wisdom of money matters.



            Originally posted by frugality View Post
            http://www.indianexpress.com/news/ex...-child/597868/

            “Two years ago, Kumar took a loan of Rs 29 lakhs to buy their Thane house. He also took personal loans from people,” said Thane police commissioner Anil Dhere. He said Kumar clobbered his wife Sangeeta and daughter Tanshika (4) after a quarrel over frequent visits by debtors to their home. His elder daughter, Ayushi, 16, was sleeping in the other room.

            Why did one overstretch oneself ??
            While buying he may have never have imagined this .....
            feel sad for him but how may of us have done this....
            Not foreseeing the future eventuality taking the Job for granted....
            He was jobless just for 6 months ....
            And his sector is even better paying then "IT".

            Now who is to be blamed ... or to be held guilty?

            Builder ?

            Govt. (for no regulation in one of the primary human need) ?

            Society (for inducing greed and pressure) ?

            Himself ?

            Comment


            • Re : Why Do Intelligent People make wierd Real Estate Decisions

              The herd mentality is especially strong in India, if your neighbour or relatives or friends do it, then you need to do it too...don't think...just do it. Close relatives keep telling me - Buy a House...rates are increasing...and when I reply that I cannot afford...the answer is you will get a loan easily.It is almost as if the loan is free money and I don't have to repay it! I guess its the same for others too.

              Two, most houses hardly seem worth the money now...rates are so inflated. It helps that in this forum I find certain sane people who think alike.
              Last edited by novice; March 31 2010, 11:23 AM.

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              • Re : Why Do Intelligent People make wierd Real Estate Decisions

                Originally posted by anikat View Post
                Can you substantiate your claim with details? If true there are many who can benefit. Without details and specifics your post mean nothing. FYI
                No reply since 4 months signifies it was a pure nonsense claim ;-)

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                • Re : Why Do Intelligent People make wierd Real Estate Decisions

                  Originally posted by veeemkay View Post
                  Time for some marketing. This news needs to spread like forest fire...
                  Most buyers are looking to buy at any rates fearing that prices will run away like crazy. This news will make them think again.

                  Any ideas what was the rate quoted by the builer before?

                  VK
                  LOL Not sure if this wildfire news had any effect . Good time to check as few months have passed by.

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                  • Re : Why Do Intelligent People make wierd Real Estate Decisions

                    In India, it is mostly the family pressure and the ego/status symbol to have your own house. Hence, most people dont know what to do with the money, and everybody wants to own a home- this is the first wish after getting a job.

                    Some people think otherwise, I really to become and digest all the money that I have earned, and not pay heed to builders/banks/peers.

                    However, you have to accept Indians are amongnst the MOST emotional humans around, and are easily swayed and duped by many. Even today, most businessmen do business on trust, in US/UK you have a lot of documentation.
                    But, I feel builders/developers always know that there is somebody who can be easily duped, and then he plays his tricks, and he employs lawyers so that even that "foolish" tried to be smart, he is entangled into Indian consumer courts for years.

                    The issue is with the govermment to protect the interest of the consumers, and it is reluctant to do so in Real Estate.

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                    • Re : Why Do Intelligent People make wierd Real Estate Decisions

                      Becoz 90% of the elected politicians are Real Estate goons. So why will they hit their own leg, by doing some worthy things for aam janta.

                      Originally posted by piyushchamedia View Post
                      The issue is with the govermment to protect the interest of the consumers, and it is reluctant to do so in Real Estate.

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