The deepening economic slowdown, rising cost of living and low wage revisions, coupled with higher interest rares, are forcing salaried professionals who had earlier invested in properties to put them up for sale, say industry experts.
People who had invested in properties some 10-15 years ago are now finding it difficult to service their home loans which have become too expensive now due to the rising interest rates and falling rental yields.
According to a survey, resale inventory has increased nearly 30 per cent over the last six months.
“Economic slowdown has hit the real estate industry. Salaried professionals who had invested in properties five-six years ago to cash in on the boom, are now looking to sell them as they are finding it difficult to cope with the high cost of living,” property portal Housing.co.in co-founder and marketing head Advitiya Sharma told PTI.-from TOI
Author: Raoji
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Modi & India Inc
Some months ago, a Kolkata businessman went to meet Modi with a donation of Rs 3 crore, to be paid by cheque. As he was leaving, Modi said: “If you are giving it as a donation, then it is fine. But if you think this is an investment, then please don’t give.” Clearly, he calls the shots now.-from BS
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How Keynes gave up on market timing
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The Kinda Sutra
Where do babies come from?Everyone has a funny story about where they used to think babies came from
Investing is not about ALL or NONE- Thoda Khao Thoda Phenko
— Samir Arora (@Iamsamirarora) September 20, 2013
This Thoda Khao Thoda Phenko comes from the cult movie Jaane Bhi Do Yaaro