There is an interesting article in the blog link given below.
They think they have a point when they say we are cheering the fall of our own economy. This is the common allegation we face when we talk/expect about the real estate crash. I would like to give point by point reply to their allegation.
1. By accusing this, they indirectly supports the real estate mafia which is wholly responsible for irrational price rise for housing.
2. Many of them, did not seems to know the basic cycles of economy that growth is cyclical. They only want economy to grow up without any correction. It is no wonder many of them only seen the boom. For somebody who started earning from 2000-2001 would not have seen a proper cycle.
3. Many of them who themselves bought real estate at exorbitant rates and now fearing for lose of wealth. If they bought for housing purpose, anyway they need not worry because in long term the asset will find its own value. If they had leveraged to see quick bucks, then SORRY. It depends on their holding power.
4. We are shouting for a correction, because we want to avoid a hard landing. They dont know the meaning of hard landing and soft landing. Probably they should ask a ordinary US citizen about what happened in US in 2008. US can afford and India cannot.
5. It is not that we want to buy apartments after see the crash. Whether we buy or not, we want our jobs to be safe and unaffected due to this mad rush for property.
6. We are merely saying like any other business, why not Real Estate guys also earn 10-20% profit. Anybody who supports them have any idea about their margin?
I am happy to reply any particular question you have in mind.
Real estate bubble will lead to Real estate correction. NOBODY CAN STOP THE NATURE'S LAW.
They think they have a point when they say we are cheering the fall of our own economy. This is the common allegation we face when we talk/expect about the real estate crash. I would like to give point by point reply to their allegation.
1. By accusing this, they indirectly supports the real estate mafia which is wholly responsible for irrational price rise for housing.
2. Many of them, did not seems to know the basic cycles of economy that growth is cyclical. They only want economy to grow up without any correction. It is no wonder many of them only seen the boom. For somebody who started earning from 2000-2001 would not have seen a proper cycle.
3. Many of them who themselves bought real estate at exorbitant rates and now fearing for lose of wealth. If they bought for housing purpose, anyway they need not worry because in long term the asset will find its own value. If they had leveraged to see quick bucks, then SORRY. It depends on their holding power.
4. We are shouting for a correction, because we want to avoid a hard landing. They dont know the meaning of hard landing and soft landing. Probably they should ask a ordinary US citizen about what happened in US in 2008. US can afford and India cannot.
5. It is not that we want to buy apartments after see the crash. Whether we buy or not, we want our jobs to be safe and unaffected due to this mad rush for property.
6. We are merely saying like any other business, why not Real Estate guys also earn 10-20% profit. Anybody who supports them have any idea about their margin?
I am happy to reply any particular question you have in mind.
Real estate bubble will lead to Real estate correction. NOBODY CAN STOP THE NATURE'S LAW.
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