The demand cannot be expected to pick up as there are no first time
buyers because of non affordability and a big chunk of black money
involved which the masses do not have and they have no avenues to make
also. The demand is normally from those who have various means of
incomes and are from well employed segments having access to liberal
loans and sources of black money. Since of late the fear of tracking
black money is in circulation, many avoid investing in houses. Besides,
the return on investments is also unattractive and the prospects of
getting out of the investments through sales are bleak. The taxation
policies and the hassles involved in acquiring properties also
discourage people from investment. The old theory of renting a house is
more wise and finding more acceptance and practical these days. Fools
invest in houses and wise people stay is becoming a reality once again.
Dr.T.V.Gopalakrishnan
(this comment appeared in Business line dated 23rd December against the article demand pick-up evades realty)
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