With great power comes great responsibility. Anyone who has seen Spider Man will have these lines etched in some corner of his mind forever. One of my favorite movie clips this one.
So what do you do when there is no sense of responsibility, leave alone a longing for power?
Carefree as a bird, I thought I needed a drive to feel responsible for something or someone, and more importantly an urge to feel responsible for me before I even think about anything/one else.
So I dwell'd on the idea of investment in real estate. :D Ahem
Not a care in the world but a hefty equated monthly installment looming large on my head at the beginning of every month.
NOW! That would be more than enough to make me feel responsible. Or so i like to think :)
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| A very good read |
A little digression here:
I had read
The Argumentative Indian by Amartya Sen way back, and I particularly loved the insights he presented into the Indian mentality of tackling deal making or deal breaking decisions.
One thing that stuck with me from this book, whenever I was present on the doors of the next opportunity, be it college, be it a career move, be it anything, was that we (read Indians) choose not out of choice but out of eliminating all other options that seem worse that what you have in hand.
And I find this whole real investment idea raking my brains, if any :) these days is that because I don't have a drive to be responsible, I'm taking the easy way out, if you may call it so :) by having the EMI as a cane behind my umm, ahem.. you know what :) every now and then.
Lovely book, gotta read it you
We Indians love the cane on the arse than the carrot dangling on our head, isn't it?. (well this was a good one, you must agree. Oh you naughty Indians, there was no pun intended whatsoever) :D
So. A quick decision taker that I am, not because I am intuitively enlightened but for the lack of patience and zero hassle-tolerance level, I opened Magic Bricks :)
And there in front of me was Well Worth Paradise (what a name, digging your well to your coffin with the EMI caned arse.
I took a peak into the icon image, scrolled and gave a cursory look at the various features, layouts and other stuff they got, and I had decided.
This was going to be my Paradise.
A quick call to the agent happened next. 5000/sqft, 4350 pre-monsoon offer for you ma'am.
I had made up my mind. :)
Then I came home.
To my home in Mumbai, which actually is my parents home!
Glad that Argumentative Indians don't kick their kids out when they're barely adults, unlike
Inscrutable Americans. :P (Can't afford another digression on this, for I pity you my dear Reader, tut tut. I have mercy for you, you're saved!)
And the charms of Mumbai played threw its "Brick of Magic" on me. How can I ever think of going away from dhinka chika Aamchi Mumbai.
So I let the whole thing lie low at the back of my mind till yesterday, when whiling away time during coffee break, I came across
This!!
And my Paradise magically crumbled back into bricks.. sob sob..
After reading this piece of news in DNA, I for some reason feel that there'll be "Once Upon a Time" time when Mumbai (
awesome movie) will re-enact the Subprime Saga, like I know what that is, but whats with a little show off huh?
I don't think intelligent and smart people would be reading this blogpost, they'll be responsible souls dangling and swinging with power singing with a nasal twang.. spider man spider man this outfit sticks in my pan! poof..
I apologize if I've hurt your feelings Dear Reader. Swear. I know you are here because you've got nothing to do and did they not say something like blissful ignorance sometime back.
No offense meant and hope none taken :)
But, whether or not something like Amchi Mumbai Sab Prime Crisis does happen, is something that only time will tell..The demand supply dynamics have always intrigued me and so has this article. (Oh I love Prof. Vijaya Gupta, NITIE, Mumbai who taught Macro Economics during my post grad, she made Economics appeal to me like Swaroski appeals to barbie dolls.)
A very good research, I must say.
Here are few excerpts..
- Affordable housing in Mumbai is more of a myth than reality if a recent study is to be believed. Only 2% of flats available in the city cost between Rs25-50 lakh, according to a study conducted by Liases and Foras, a real estate research firm. Most of these 1BHK houses are located in the far-flung areas of the city such as Marol and Saki Naka and are surrounded by filth and slums.
- The average price of a flat in greater Mumbai (city and the suburbs) is Rs2.34 crore, up from Rs2.14 crore last year. The figure for the Mumbai metropolitan region (Thane, Panvel, etc) is Rs1.4 crore compared to Rs87 lakh last year.
- "The average cost of a flat was Rs27 lakh in 2001. It is almost Rs2.34 crore now. Flat prices have gone up ten times in the past decade. There were 55% slums because of unaffordable houses 10 years ago. The figure is now 70%. If the prices do not come down, more slums will mushroom in the city,"
- Houses which fall in the Rs25-50 lakh bracket find no takers as they are located at neglected areas like Saki Naka and Marol in Andheri (East). ("Who will buy 500sqft houses by paying Rs50 lakh in these areas? People would rather stay in a rented place close to their office")
- The skyrocketing realty prices have forced genuine buyers to rent a place as it is more affordable. Besides, it also saves the time they spend on their commute to office.
- If a person earns Rs20-25 lakh annually, he would want a house in greater Mumbai to suit his lifestyle and needs. But a house in that zone costs over Rs2 crore and is beyond his budget. The other option is to move to the distant suburbs such as Panvel and Kalyan. But he won't buy a house there
- There is a mismatch of aspirations and affordability which has created an imbalance in the real estate sector. The present market does not have a target audience."
- Earlier people bought houses when they were 40 or 50. Today people in the 20-30 age group are tempted to buy flats. They prefer to stay separately instead of living with their parents. Several flats may be vacant today, but they will be sold in the future because of the enormous demand
P.S: The authors of both these books are Indians. Argumentative or Inscrutable, Indians definitely are "Observative" if nothing else., once again reader, no innuendos here :)