Update On Indian Property Bubble 2012
Real estate research firm PropEquity said new home sales in Mumbai and NCR dropped over 50 per cent in Q1 of this calendar year. India is having the world's largest housing bubble if you take Per capita income into consideration. Indian per capita income is 64000Rs at 2012 while housing prices for 2BHK in metro cities ranges from 50Lak to 2 crore rupees,indicating a massive massive bubble.Unlike China,where Govt has been taking actions against bubble Indian Government is doing nothing to control the bubble.
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“The next forenoon we went to Oldtown.... The Indian is said to cultivate the vices rather than the virtues of the white man. Yet this village was cleaner than I expected, far cleaner than such Irish villages as I have seen.”
—Henry David Thoreau (1817–1862)
“When a strong man, fully armed, guards his castle, his property is safe. But when one stronger than he attacks him and overpowers him, he takes away his armor in which he trusted and divides his plunder.”
—Bible: New Testament, Luke 11:21.22.
“Each swung in danger on its slender twig,
A bubble on a pipestem, growing big.”
—Robert Frost (1874–1963)