tag:blogger.com,1999:blog-19740856.post2183626859148488257..comments2024-03-28T23:30:16.420-07:00Comments on India's housing bubble: Rich behaving poorlyUnknownnoreply@blogger.comBlogger47125tag:blogger.com,1999:blog-19740856.post-74044329831171138762018-04-26T04:48:32.021-07:002018-04-26T04:48:32.021-07:00Such a nice post. Thanks for sharing...
New flats ...Such a nice post. Thanks for sharing...<br /><a href="http://voora.co.in/voora-saraswathi.html" rel="nofollow">New flats for sale in t nagar</a>Anonymoushttps://www.blogger.com/profile/03318893819371937142noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-34322006240082525952012-12-07T02:27:46.554-08:002012-12-07T02:27:46.554-08:00This comment has been removed by the author.rajnihttps://www.blogger.com/profile/06444939579267581761noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-87629938008642848612010-02-21T03:49:06.295-08:002010-02-21T03:49:06.295-08:00Excellent Post, Carry On .........Excellent Post, Carry On .........freesms-indiahttp://www.freesms.aenoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-82597357520167716322009-10-20T06:39:33.548-07:002009-10-20T06:39:33.548-07:00Thanks Anil, you echo my sentiments on RE and the ...Thanks Anil, you echo my sentiments on RE and the current corruption embedded into the indian society.One result of this is that the powerful,corrupt few are siphoning off black money into RE and hence have no vested interest in bring transparency into the RE practices .they are the politicians,judiciary,police, and the gundas.their nexus is creating havoc in the indian society scene?..confusednoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-54496241156922069932009-10-15T12:47:29.420-07:002009-10-15T12:47:29.420-07:00Foreclosure explosion..!!!
At foreclosure auction...Foreclosure explosion..!!!<br /><br /><a href="http://www.reuters.com/article/gc03/idUSTRE59E01B20091015?pageNumber=2&virtualBrandChannel=11618" rel="nofollow">At foreclosure auctions, broken dreams on sale </a><br /><br />Thu Oct 15, 2009 11:52am EDT<br /><br />After Barack Obama's election as U.S. president last year, Fannie Mae and Freddie Mac, the two government-sponsored mortgage giants, imposed a foreclosure moratorium that lasted about four months. Many private banks followed suit.<br /><br />As a result, there was a gap in the pipeline of foreclosed homes that pushed into late spring. That helped auction prices stabilize for a few months and permitted some analysts to claim the market had found its bottom.<br /><br />But the moratoriums have now expired. With the mortgage modification and foreclosure prevention efforts championed by the Obama administration unable to keep pace with defaults, as many as 7 million homes and condos may eventually enter foreclosure before the dust finally settles, according to a report by Amherst Securities Group issued in September.<br /><br />"There are a lot of things that have temporarily stabilized the market," Tilson said. "But those things are going away ... Delinquencies are spiking. This is going to be a mess."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-25795100860984520192009-10-15T11:58:43.442-07:002009-10-15T11:58:43.442-07:00The Indian Banks, foreign hedge funds have played ...The Indian Banks, foreign hedge funds have played a BIG role in ballooning the real estate bubble and sucking the gullible home buyers.<br /><br /><a href="http://economictimes.indiatimes.com/News/Economy/Finance/RBI-tells-banks-to-do-a-realty-check/articleshow/5053443.cms" rel="nofollow">RBI tells banks to do a realty check </a><br />25 Sep 2009, 0407 hrs IST, ET Bureau<br /><br />It’s evident that RBI is closely monitoring the stunning recovery by real estate companies, many of which are back from the brink. A year ago, these companies had <b> forced </b> <br />- mutual funds to roll over bonds, <br />- made banks restructure loans <br />and borrowed at as high as 25% interest to stay afloat. <br /><br />A few, which had borrowed against stocks, almost lost control of the company. Today, they are back in business. <br /><br />The RBI note is specifically aimed at the large firms. It says,”....while assessing the loan requirements of large builders/land developers, they (banks) may carefully analyze the financial credentials/viability of the borrowers on a consolidated basis supported by the consolidated accounts/position of the group. They may also examine the financial credentials/viability of the relevant unconsolidated related entities such as special purpose vehicles (SPVs).” <br /><br />RBI’s unstated concern may the nature of deals that these SVPs have entered into. In the past five years, <b> the Indian real estate sector has received close to $20 billion foreign direct investment</b> , a chunk of which has come into multiple SPVs floated by builders to promote special projects. Tagged with this money,<b> mostly in the form of quasi debt, are tough conditions, which local builders have to meet to avoid loan recall and litigations.</b>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-34664485780712922462009-10-15T11:43:01.484-07:002009-10-15T11:43:01.484-07:00@Shailesh 10:18 AM thank you for the link
Real ...@Shailesh 10:18 AM thank you for the link<br /><br /><br /><i> Real estate was one of the worst affected sectors during the economic downturn in India. <b>Following the credit crisis last year, some banks had to restructure their exposure to some of the country's leading real estate players.</b> </i><br /><br />"Restructure the exposure" = "Bail out of the crooked builders" at the behest of whom ? Reserve Bank of India. <br /><br />Now they want to rein in Frankenstein monster. Unfortunately it has been let loose.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-948155301351229062009-10-15T10:18:21.834-07:002009-10-15T10:18:21.834-07:00RBI cautions banks on lending to builders
"I...<a href="http://business.rediff.com/report/2009/sep/25/rbi-cautions-banks-on-lending-to-builders.htm" rel="nofollow">RBI cautions banks on lending to builders</a><br /><br />"It has been observed that some of the companies operating in the real estate sector have significant exposure in the form of advances, investments, etc to their subsidiaries and other group or related entities. As a matter of prudence, banks may meticulously assess the inherent group risk of their borrowal accounts falling under the purview of the real estate sector," the RBI circular said.<br /><br />"The directive makes sense since there could be a situation where the risk emerging from the performance of a subsidiary can affect the repayment capability of the parent company to which banks have a direct exposure," said the credit monitoring head of a large public sector bank.<br /><br />Developers were, however, not pleased with the move and said it would be a time consuming and voluminous task if they had to furnish details of all subsidiaries.<br /><br />"Normally, real estate companies have hundreds of subsidiaries and, if one has to submit details of all of them, it would be time consuming. We have to see whether banks have to check the details of projects they are funding or all the projects and see what is the extent of disclosure they seek,'' said Sunil Malhotra, vice-president (finance) of Omaxe, a Delhi-based developer.<br /><br /><i>Basically, Builders saying to RBI, Screw you, we are not doing it.</i>shaileshhttps://www.blogger.com/profile/14407031960831830463noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-64356035674302708532009-10-15T10:14:22.668-07:002009-10-15T10:14:22.668-07:00Really good article on Bank supporting RE companie...Really good article on Bank supporting RE companies. <br /><br />http://www.dnaindia.com/money/comment_are-the-banks-keeping-property-prices-up_1298718<br /><br />I think the intention effect is similar to QE done by US Fed, but I think in case of India, this will backfire. In US, at least the portion of money put into Banks will be lended to end users. With housing credit, I know many who are returning back into buying homes.<br /><br /><a href="http://en.wikipedia.org/wiki/Printing_money" rel="nofollow">Printing Money / Quantitative Easing</a><br /><br />In india's case, instead of helping end users, PSU are helping crook Builders. Who in turn are increasing prices as they have the immediate money and now do not have immediate need to reduce prices. This does not have multiplier effect, or increases lending. In few years, these builders will again go belly up and this time will take PSU banks with them as well. Too bad we do not have any transparency into such dealings. Common man is screwed.shaileshhttps://www.blogger.com/profile/14407031960831830463noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-86887721567437343022009-10-15T10:10:54.429-07:002009-10-15T10:10:54.429-07:00anonynous above at 7:56
Your assessment is right,...anonynous above at 7:56<br /><br />Your assessment is right, but typically, the real estate cycle trails the economic cycle by 6 months to a year. So, the IIT paycuts etc u r seeing will affect the realty sector late next year. By then, the US stimulus money will run out and the Indian banks will have to start raising interest rates to control runaway inflation. Check the pao-bhaji prices and you will know what I mean.<br /><br />Expect more than 75% reduction. This is the reason Bindaas and gang are so desperate to make a sale right now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-2444960191925088682009-10-15T10:02:48.322-07:002009-10-15T10:02:48.322-07:00@ Anonymous Commie comrade,
Please dont quash th...@ Anonymous Commie comrade, <br /><br />Please dont quash the reality as American/Jewish Propaganda. In fact America and Israel are protecting whatever freedom the world has. Being able to live a decent life, with civil/civilian rule is impossible in totalitarian government. Man is inherently selfish and competitive and once a dictatorship is imposed, it becomes the sole responsibility of the dictator to maintain sanity of the government. <br /><br />Denying the Holocaust as Jewish propaganda is equivalent to accepting denial of historical crimes committed against the native Indian subcontinet people (including Hindus, Syriac Christians) by Islamic invaders of India from Mahmud of Ghazni to Ahmed Abdaali by the left wing History textbooks. <br /><br />You most certainly seem to he a deranged man who thinks that Communism can solve all problems peacefully, please think again. Mao's Cultural Revolution and Great Leap forward, Stalin's forced famine in Ukraine and his great purges in the 30's, Pol Pot's agrarianism campaign and Hitler's Final Solution all have historical records. <br /><br />Double check yourself before denying anything as propaganda, in fact you yourself have been brainwashed with Communist and Socialist Propaganda ...skeptic optimisthttps://www.blogger.com/profile/16795929369621648998noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-39202458601591285542009-10-15T07:56:19.189-07:002009-10-15T07:56:19.189-07:00Just saw this story:
http://ibnlive.in.com/news/i...Just saw this story:<br /><br />http://ibnlive.in.com/news/iits-still-battling-slowdown-job-offers-down-by-50-pc/103294-3.html?from=tn<br /><br />According to this the starting salary of IIT grads has dropped from Rs. 9 lakhs/year to Rs. 5 lakhs per year. This is almost a 50% drop in wages, and these guys probably make the largest starting salaries amongst techies in India.<br /><br />If wages drop by 50% across the board, shouldn't we expect real estate to drop by 50% as well, as affordability will go down by the same factor? People on this forum who have been predicting a 60% drop in RE have been close in my opinion, and this might just be the tip of the iceberg.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-74998604495012179832009-10-15T06:52:14.155-07:002009-10-15T06:52:14.155-07:00Bandra Guy
Yours is most disgusting comment I read...Bandra Guy<br />Yours is most disgusting comment I read.<br />Man bandra property was a joke and I thought everyone took it in that way.<br />Myself is too doubtful about 70% fall and I've ridiculed that..<br /><br />You are disgusting..remember time is not constant and mighty may fall...........Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-45941995553944716852009-10-15T06:37:23.912-07:002009-10-15T06:37:23.912-07:00Its american and jewish propaganda that many peopl...Its american and jewish propaganda that many people were killed.<br /><br />Any sane person will never beleive it.<br /><br />All things we generally read about holocaust (6 million jews as per shriniwas)(fake and created by zionist propaganda machine supported by imperialists) and other mayhem is just american psychological war against gullible people like you,shriniwas.<br /><br />Stalin killed 23 million and that again is false...American propaganda machine working overtime.<br /><br />Poor Mao, all he tried was to do was to increase productivity by doing communal farming and gather the self respect of chinese by increasing the manufacturing capacity of china. It went wrong but the many people dying was due to lack of food. That happens so much in india even now.Its american propaganda again on poor Mao.<br /><br />And finally Americans brutally but in a sophisticated manner murdered and butchered so many of its fellow americans, those native people and dont you ever forget the number of wars around the world where millions have been killed just because america wants to maintain its hegemony.<br /><br />Dont fall for such propaganda, you wise and educated one. Your education should be worth something.dont you think???<br /><br />And marxist communists (CPM) are quite different from naxals.And in CPM are the best brains of India. Remember India will never be a superpower with so many of out own people with no food to eat and no self respect.<br /><br />Marxist communists provide succor to the disenfranchised ordinary people of India.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-38873507860422261992009-10-15T06:27:25.503-07:002009-10-15T06:27:25.503-07:00Hey diwali is 3 days away and where is your 7 K se...Hey diwali is 3 days away and where is your 7 K sensex???<br />and 70% Fall???Vashi hunter is dreaming of becoming my next door neighbour in Bandra when prices fall 70%<br /><br />Ha ha ha<br /><br />70% fall means my 2 Crore bandra apartment will cost 60 lack????<br />When oh you crystal gazing oracle??<br /><br />And then shit from vashi ,vashi hunter can buy our bandra apartments from his outright money???? Vashi f**er please f**k urself.This is bandra .Do not dream ,we do not even tolerate "sandas bhai's" from chembur and people from shanty shitty subrbs like Cenral one and beyond Andheri ,a Vashi guy should not dream of bandra!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-23530890716251046342009-10-15T05:22:44.426-07:002009-10-15T05:22:44.426-07:00Swiss banks to reveal Indian Black Money.
http://...Swiss banks to reveal Indian Black Money.<br /><br />http://publication.samachar.com/pub_article.php?id=6017921&nextids=6034042|6034043|6034044|6034045|6017921&nextIndex=0Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-61651746151809232922009-10-14T20:44:11.333-07:002009-10-14T20:44:11.333-07:00Excellent video again here....
check it outExcellent video again here....<br /><br /><br /><a href="http://www.youtube.com/watch?v=46r4yxttThw&feature=player_embedded" rel="nofollow"> check it out</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-18227615939967303072009-10-14T20:41:45.986-07:002009-10-14T20:41:45.986-07:00in above post...read
Politicians and the land maf...in above post...read<br /><br /><b>Politicians and the land mafia</b>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-50993589185542336042009-10-14T20:39:47.833-07:002009-10-14T20:39:47.833-07:00Patricians and the land mafia has made the housing...Patricians and the land mafia has made the housing unaffordable for almost everyone. <a href="http://epaper.dnaindia.com/newsview.aspx?eddate=10/15/2009&pageno=13&edition=40&prntid=102460&bxid=31771872&pgno=13" rel="nofollow">The Rot in Realty</a><br /><br />- AnilAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-59923111897787690932009-10-14T20:31:13.557-07:002009-10-14T20:31:13.557-07:00The movie is Capitalism a Love Story ...
http://w...The movie is Capitalism a Love Story ...<br /><br />http://www.imdb.com/title/tt1232207/ Playing at your local Multiplex ...<br /><br />Michael Moore (And not Jim moore :P )happens to be from Michigan which has been worst hit since the slowdown began in 2006.skeptic optimisthttps://www.blogger.com/profile/16795929369621648998noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-611352550640966082009-10-14T18:43:51.929-07:002009-10-14T18:43:51.929-07:00http://www.cnbc.com/id/33310096/
Interesting RE i...http://www.cnbc.com/id/33310096/<br /><br />Interesting RE in Vegas.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-14613700355395437202009-10-14T18:03:13.439-07:002009-10-14T18:03:13.439-07:00Watch the new movie by Jim Moore on Capitalism.
...Watch the new movie by Jim Moore on Capitalism. <br /><br />It defines the distinction between capitalism and democracy.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-91253150816408393832009-10-14T17:31:03.287-07:002009-10-14T17:31:03.287-07:00Why Naxalites should join the Democracy?
We have ...Why Naxalites should join the Democracy?<br /><br />We have joined the democracy & what’s the benefit, where politicians & rich are setting the rules to exploit the middle class? Join the democracy, to respect Chidambaram? So he can maintain his status, power & extort more & more people. First put this traitorous guy behind the bars. <br /><br />Only naxalism is going to solve the problems in India. As usual to divert the attention they are pointing fingers towards China & Pakistan. If you are still not convinced, first answer about disparity. Getting basic food itself is a big deal for so many tribal & villagers. Yes, there was an article about a politician distributing 10kg rice bags to buy votes. I have seen a tribal man digging whole day in a field to catch a rat for food. There is another extreme in Metros, even though a guy can get into IIT or any premier institute; he can’t afford a house in Mumbai. <br /><br />Social disparity will become the next partitioning/dividing theme of India. There are already good amount(30%) of naxalites. In the remote parts they are operating as naxalites & in metro they are operating as Gangsters. Now the growing disparity in society is forcing people to join the new community with a rapid pace. <br /><br />The disparity index will help you to track the forthcoming revolution.<br /><br />[Income of richest person in the country] / [Income of poorest person in the country] = Disparity depth index<br /><br />[Income of top 100 rich people in the country] / [Income of bottommost 100 peoples in the country] = Disparity width Index<br /><br />http://naxalwar.wordpress.com/<br /><br />NOTE: Capitalism is good only when free market is not interfered. Last year only Capitalism had failed.<br /><br />Vulture.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19740856.post-66029769034734043162009-10-14T15:28:07.075-07:002009-10-14T15:28:07.075-07:00People who support communists Please remember the ...People who support communists Please remember the following - <br /><br />Josef Stalin murdered 23 million of his own people whom he considered enemies of the state. Almost all of them were innocent<br /><br />Mao Zedong Murdered 70 million Chinese who did not approve of Party directives. <br /><br />Pol Pot Murdered 2 million Cambodians<br /><br />Holocaust claimed roughly 6 million lives.<br /><br />These were organized mass killings and not the fallout/damage of real military warfare.<br /><br />You cannot be supporting totalitarian government without justifying mass murder. If the naxals come to power, they will have many innocent people branded as traitors and have them executed. <br />To be honest, communism doesnt work, all the communists will do is - thay will fill the place of todays builders-realtors-politicians, and they wont even allow any blog where you can criticize them.skeptic optimisthttps://www.blogger.com/profile/16795929369621648998noreply@blogger.comtag:blogger.com,1999:blog-19740856.post-78222656453167431922009-10-14T15:00:09.608-07:002009-10-14T15:00:09.608-07:00If legislation for REITs get passed in India, then...If legislation for REITs get passed in India, then another burst of price on the upside will happen.<br /><br />However, it makes no sense for South Mumbai to be more expensive than NYC.Anonymousnoreply@blogger.com