Surprised? do not be..what I am going to say is not what the title says. Many people (including the author of the article at the bottom of this post) tell you how you should buy property …and you will make a lot of money..Lets see what they forgot to tell you:
- You had a nice job paying well, stable, non transferable, and your wife also had a great job near your house.
- all this helped you pay your EMI on time
- You did not fall ill during this period and could pay your EMI
- Your company did not put pressure on you to do something wrong – which would have made your life difficult
- The fall in price of the property was just temporary
- Your nice job allowed you NOT TO WORRY about temporary fall in prices of Real estate
- Today, in retrospect, you know that the price fall was TEMPORARY.
- It was a rising economy, and there was a huge demand for RE in the place that you bought
- People bought in places just because their parents said so
- If people’s taste changes, demand patterns could change
- In the same period Equities gave a far superior return
- I needed the house, so I bought it, it appreciated and made me look like a genius
- The only asset my father has is a house – and he has no liquidity now
- Can go on and on…..
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