Announcement

Collapse
No announcement yet.

Why Do Intelligent People make wierd Real Estate Decisions

Collapse
X
Collapse

Why Do Intelligent People make wierd Real Estate Decisions

Last updated: April 23 2012
157 | Posts
  • Time
  • Show
Clear All
new posts

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

    Originally posted by piyushchamedia View Post
    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.
    Piyush

    Very well put. The emotional decision making is what drives most of the white collared, salaried income people to take really really short sighted real estate decisions.

    As is logical most people end up factoring in location in a big way in the house purchase. I have seen that in the fast growing industries such as IT/ITES its common for people to move / get transferred and then the purchase decision doesnt look to be so smart. The rental yield can hardly offset the EMI in most cases.

    I dont think the establishment will do anything to 'protect'. It is upto the individuals to decide how best to protect their own interests ....

    Comment


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

      http://www.ndtv.com/news/world/faisa...ties-23514.php

      The failed Times square bomber, faisal, had bought an house and in recession it got foreclosed. He was under financial trouble since recession hit US.
      Read the news for more....

      Buying in hurry may ruin ur life, if you dont plan properly and over stretch.

      Comment


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

        Originally posted by Vinod Gupte View Post
        god bless moderators. they let me post this message after i tried 17 times. i have never felt more elated.

        anyway, i agree with all the points except one. the first one. people like to stay near their offices only because of poor traffic conditions. pune needs a ring road with three lanes on each side. some people who drive their own vehicles to office may want to save money on gas and that could be one reason why they want to stay near their offices but i think that percentage is quite low.
        Vinod I may agree to disagree with your quote.
        Punekars now a days are more inclined to buy house near work place.
        Because if you are investing 2 to 3 hours of time in to and fro conditions then you are wasting precious time of your family.
        Aditi I agree with you 100% and good article.

        Comment


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

          In today's world where people dont stick to a job beyond 3-5 years, buying a property because its closer to the office does not make much sense.

          Comment


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

            Originally posted by Technocrat View Post
            In today's world where people dont stick to a job beyond 3-5 years, buying a property because its closer to the office does not make much sense.
            very true .. and If both couple working makes it worst.

            Comment


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

              Originally posted by realacres View Post
              Thanks for this info. Man, but then who is buying flats worth at 40L+ (that too without proper infra)? This then means that most have overstretched themselves. Some have either increased the period & few have increased the EMIs, which normally runs more than 60-70% in several cases. In such cases, chances of one getting diabetic run very high.
              This post of 2009, the person who went into the deal will be in all smile selling same apt over 60 L. In case he opts for selling the apt (say he feels EMI is unbearable etc etc) , they can pay their rental for whole of their life just over the interest accrued over 20L ... and also afford a vacation (assuling 9% interest rate). Now that is cool. Not saying the price trend will continue (it may), but just in retrospect they seems to have took wise step.

              Comment

              Have any questions or thoughts about this?
              Working...
              X