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- Originally Posted by Logitech25You are angry because your grandfather didn't buy any property and you have no inheritance?
It is just a matter of demand and supply. High demand of space and low supply. So their property prices appreciated rapidly.
If you don't want this to happen to your grand children, then out of the money you earn from working your ass off, buy some property NOW. Your grandson, or even your son need not work and he will be rich.
Remember that "some drunkards and low level earners like electrician" 's grand fathers / fathers would have worked their ASS OFF to save money and buy that property at that time.
What if I purchase now and there is real estate crash in a few years like it happened in USA where many people lost their life's savings?CommentQuote0Flag
- "What if I purchase now and there is real estate crash in a few years like it happened in USA where many people lost their life's savings"
RE crash may not take place.So why worry about something which may not take place?.
If the worst happens it is hard luck.Try and bounce back with your skills,knowledge and personal capability.
There is absolutely no point begrudging some person suddenly becoming rich due to the foresight of his grandparents buying land.
With the kind of population and total reluctance of our leadership to control the bursting population,land can never be a bad investment.Value will rise over a long period.
One of my friends elder had purchased land near Chennai in early 70's at the rate of Rs500 per plot and the area was deserted for miles around and people called him foolish,but 30 years later the land is now worth at least a crore per 1000 Sq feet.(figures are approximate)
It is just luck/chance, if you inherit such land by being born in the family.
Point which I wish to make is that each generation had certain instruments to invest in.We need to find out which instrument will now yield higher returns.CommentQuote0Flag
- First off. I will describe your behavior as "Khisiani Billi Khamba Noche".
I will keep my reply to the point.
1. The words you have used for electricians, plumbers etc.. are not apt.
2. The fact that their grandfather worked hard and purchased a land generations back shows that they come from a hardworking and intelligent family.
3. You are worried that if you buy the land now, the market might crash. OK. So, who cares? You are planning for your grandkids right? Or may be for your greatgrandkids... So, even if the market crashes now, won't it recover in next 50/60/70/80 years? Or are you just thinking just about yourself and your life? Well, that is what your grandfather did... You are repeating the story. Buy land now, let your grand kid do much better than that "looser electrician's grandkid". Right?
5. Not sure what you do for your living and what your education level is. You say that you can keep 80 lakhs in a bank account and spend 80,000 per month from the interest earned.. For the rest of your life? seriously??? That is your game plan, if you had 80 lakhs?
This clearly shows your lack of understanding. Heard of something called "Inflation"? Don't worry, it is not very difficult to understand it.
While I completely agree that there is madness in market, I completely oppose your thought process.CommentQuote0Flag