On 4/30/07, Srini Ramakrishnan <[EMAIL PROTECTED]> wrote:
Were I to be rash enough to splurge on a house of my own at the
present moment, it would cost me a rather large fortune, financed no
doubt by usurious debt. Debt which I would possibly find hard to repay
if the Indian economy were to hit murky waters. Debt that would be in
vain were I to lose my land to some fancy record keeping at the land
records office, no doubt inspired by the invisible and sometimes all
too thoroughly visible hands of the land mafia. Debt that would make
me look like a fool when the property price like water finds its true
level.
Can someone point me to a couple of examples of instances where the
real estate market went belly up? I am more interested in examples
where investments lost value over a large period of time rather than
short-term losses. I ask because I keep hearing dire warnings of real
estate meltdown, but have personally only seen short-term losses.
Long-term, real estate investment (like investment in the stock
market) seems to increase in value.
S.
--
Homer: He has all the money in the world, but there's one thing he can't buy.
Marge: What's that?
Homer: (pause) A dinosaur.
-- Homer J. Simpson
Sudhakar Chandra Slacker Without Borders
