Repeating a lie too often assumes the proportion of popularity not the truth.
1. Houses were never exorbitant before 2006 2. Rentals were never exorbitant before 2007 3. The entire honeymoon started with speculation for the IT industry for the next 20 years owing to which the banks lent for the next 20 years. Markets are so volatile that you never know the next 20 weeks let alone 20 years 4. For the US it was the banking and finance sector which is a curse here it is the IT industry and housing crisis 5. Despite the US markets collapsing with another 10 million foreclosures expected within a year, india seems to have weathered recession, TCS seems to have billion dollar contracts, wipro has a great q4 and all these hypes. If that be why dont I see these dogs flaunting their collars or the IT airbuses which is a public nuisance. Why are so many graduates opting for govt jobs and why are so many in the bench. Guys at IFlex are supposedly attending 15 days of office and that too for evaluation tests. 6. The housing has been a unaffordable crisis for the past 2 years not the past 200. That stupid BONG pranab should get his moral and proffesional honesty straight. 7. Prices can be 10% higher than the guideline value not 200-300%. This is a huge bubble 8. Junk guys who can speak a word of english and mediocrity is the order of the day be it his competence or his character is another indication of a big huge BUBBBBLE waiting to BURSSSSSSST in the IT sector.
Re: Stupid
by anand n on Jul 29, 2009 10:17 AM
Hi , If IT bubble burst , dont you think Govt/PSU employees and others who are getting really paid well ...and will come close to IT industry employees , which shud help builders to hold on to their prices ...one more point , builder paid huge money for the land , which how do you feel they can absorb ?
Re: Re: Stupid
by rgopi on Jul 29, 2009 11:00 AM
No way. The builders are yet to recover the cost of construction and the banks are yet to recover the loans to builders let alone lent to these IT morons
Re: Stupid
by Mogli on Jul 29, 2009 10:22 AM
Waiting to burst ? Wake up boy. It burst a year ago. These multimillion contracts you are talking about are from the past. They usually have 2 to 5 year contracts. No fresh multimillion contracts. IT is long gone to dogs. Besides, unlike the 90s where India was de-facto destination for IT services, now they have an assortment of countries to hire those services from.
Re: Re: Stupid
by rgopi on Jul 29, 2009 10:58 AM
Thanks mogli, It had burst a year ago for sure, but why are these idiots holding on to the corpse rather than bury them, face the facts and rebuild everything. What is unrealistic can never be sustained for too long
Let me suggest an example from highschool biology. If you add a thyroixine (a kind of hormone) to an aquarium of tadpoles they transform into frogs pretty quick, if more of thyroxine is added the tadpoles kill themselves with overmuch growth in a relatively lesser period of time
Re: Re: Stupid
by Ronit on Jul 29, 2009 04:04 PM
Interesting that none of the IT folks are responding. 6 months back any such comment would have elicited a torrential outburst of protests in a very rude manner. Guess the realities have begun to bite. Dont be misguided by the 10% increases in profits. As somebody mentioned, a lot of projects for these biggies are multiple year contracts. By going for a phased costcutting (read layoffs) these companies can show profits for 4-6 quarters on stagnant sales. We should be able to get the true picture by 2010 Q1. Also please read the comments of Ramdurai, Kris etc in the reports/post result calls. Dont go by the paper headlines. These newspapers guys love to make headlines. One day they will report economy is recovering. next day same paper will report that it is falling. Ultimately they have to report something right.
THE GOVT SHOULD GIVE THE CONTRACT OF BUILDING THE HOMES TO ME.I WILL DEVELOPE THE INFRA SO NICELY THAT NOBODY CAN DO..I HAVE THE POWER TO BUILD THE WORLD STRONG.
Will someone arrange 10 lakhs in cash to buy a 20 lakh home? The FM is either day dreaming or fooling people.
Tell me which builder is building a house for less than 20 lakhs? Even a 1BHK apartment in smaller cities costs 20 due to increased land costs. And do people have the down payment?
Re: Pranab's Dream - Mungerilal
by Vaibhav Mehta on Aug 03, 2009 09:52 AM
Yes I aggree,builders take 40 % cash and give papers on 60 % and on that 60 % bank approves loan of 85 %. so from where to get all that money.. its just day dreaming and making fool of aam admi...I think govt shud first understand meaning of aam admi and than create schemes for home loans..
Re: More sub-Rs 20 lakh homes soon
by mohammed ulhaq on Jul 29, 2009 11:02 AM
Mr. Santosh, read the article properly. It says that Loan will be on discreation of the banks and the govt.subsidy will be for Rs.20L homes and this subsidy of reduced interest rate by 1% will be upto the loan amount of 10L and balance 10L (If 100% loan) will be as per normal interest rates.
About three months back I had mentioned in this column about houses at reasonable priced. Houses in urban location like Mumbai for kickstarting demand for homes and thereby rreviving the housing industry.
Now it appears that the thinking at higher level has been same and new packages are being announced.
