One thing I cannot understand with the economics regarding Housing Properties is whether an EMI of Rs.25000/-affordable to anybody. This is assuming that a person is buying a property worth 25L and taking a loan of RS.20L for 20 years. I am of the thinking that IT boom has indirectly encouraged the real-estate boom. But still 25000 per month is a long shot even for a guy working in IT industry (Including Double income families), with Inflation also in Double figures and commodity prices rising...Is realty in correct shape. The tone of the author suggests that this is the right time to invest in property, is it so? Give me a break!!! Even though a drastic reduction cannot be expected a correction is definitely on the wings.
