1) Gold prices have gone up 2) Stock values have gone up 3) Real estate have gone up all over the country.
But they expect only real estate prices in Bangalore to drop. And they talk of a recession, forgetting the fact that any recession in India will affect Indians badly and will slow down our GDP growth and all which will be really disastrous as a whole. If you guys really believe there is going to be a recession in India, you should leave India and try to settle down somewhere where you believe there will be plenty of jobs, but surprisinly jobs everywhere are coming down too. It is a classic case of wanting the have the cake and eat it too.
RE:People here seem to be dreaming
by Ghanta on Dec 14, 2007 06:41 PM Permalink
I agree. The problem is that a lot of buying happened in real estate primarily as investments. This led to a fake over-demand and consequently over-pricing. Even if prices are dropping( which I doubt), they will not drop substantially. This is true for all places be it Bangalore, Chennai , Mumbai etc.
RE:People here seem to be dreaming
by Girish Rao on Dec 14, 2007 06:55 PM Permalink
yes true, but speculators/traders always try to make a quick buck whether in apartments or stocks or any other thing. It is for the government to try to deter traders/speculators and they do it by imposing high-tax if you sell an apartment within a year. Your best best would be to get hold of such a speculator/trader and bargain hard. I get bombarded with mails about people who hold Prestige/Brigade flats trying to dispose it off, and they quote a discount to the price offered by builder. Their game is up and speculation is no more there and only people who are in genuine need of flats are buying. Will the prices drop who knows ? I dont know and neither do the experts, it is like guessing the sensex 3 months from now. If you have to buy a house, buy dont delay it.
