The article sheds some light on the prevailing real estate scene. But who is to blame for the affordability? The banks or the realtors? Mr Parikh says that affordability is decreasing due to high real estate prices. But, the rise in interest rate is also a big concern for the common man. The interest rates have grown from 7.5 per cent to about 11 per cent in the last few months. A buyer would think twice before going to a housing finance company. The banks are making huge profit out of this segment. Why can%u2019t they keep the rates at an affordable level, rather than blaming the real estate companies? He even says that the shortage of housing is enormous, so an average 200 basis point hike in interest rate will not affect the demand! Mr Parikh doesn%u2019t want the banks losing the chance of exploiting the hapless buyers. At the same time he is saying the real estate prices should come down! What an idea!
