SuicideFuel Why Indian cities have such expensive property? income to rent ratio must be fucked

[Transcended Trucel]

I was scrolling around my father's neighborhood in Delhi. His property is located in a shittier area but even then it is worth $100-250k USD, so maybe 80 Lakh-2 CR INR ruppees. he owns two buildings with 3 floors each. I was thinking the property would be far more worthless. But somehow it is still that expensive despite being shitty. How the fuck are property prices 40,50 lakh or 50k USD when Indian median salary is 5k use /yr? I also saw some of the more ok or better places/flats cost 1-10 Crores. Like how the fuck are they affording those properties with Indian salary? Are fucking NRI indians buying em up? like how? Maybe entire family earn money and buy building up? I have one cousin who's family did this, he has like 3 brothers and his father who bought up land and made 4 floor building and they all live on jt. Maybe that is one method but still crazy expensive given the salaries even with that .

I also checked and found India has like 9-10x population density of USA which is pretty insane and likely a contributing factor.

@Currycel69_ @Misogynist Curry 卐 @Justice @Am85006 @HighTCurryMale @CurryCoper @CopingForBrutality @pakistanicel @IncelGolem @Zer0/∞ @BraincelsRefugee @ilieknothing @Ricordanza @Caesercel

 

[Transcended Trucel]

@WizardofSoda any idea? imo India and lots of other third world places that are rapidly growing have big wealth gap and often foreign residents pumping prices retardedly high is my guess.

 

[BraincelsRefugee]

Combination of factors:

Partially because the whole family bands money together to buy a place and thus the buying power of an average curry is increased.

Partially because it is a really easy way to wash dirty money (which is there is no shortage of in curryland)

But the prime factor is there is no other place for curries to put their money that is considered safe. With all the scams floating around, curries want tangible assets which they can keep in their posession. Curry stock market/private equity investments are out of the picture. Most people don't know about/want to buy crypto. Cars depreciate. Businesses can easily be raided by gunda (thieves) or fail. Collectibles market is not so big in curryland. Obviously fiat currencies of all kinds lose value to inflation (same for bonds, GIC, CDs and all that shit).

What's left? Real Estate. (and metals, which is why gold/silver are also ridiculously popular in curryland).

 

[Transcended Trucel]

Combination of factors:

Partially because the whole family bands money together to buy a place and thus the buying power of an average curry is increased.

Partially because it is a really easy way to wash dirty money (which is there is no shortage of in curryland)

But the prime factor is there is no other place for curries to put their money that is considered safe. With all the scams floating around, curries want tangible assets which they can keep in their posession. Curry stock market is out of the picture. Most people don't know about/want to buy crypto. Cars depreciate. Businesses can easily be raided by gunda (thieves) or fail. Collectibles market is not so big in curryland. Obviously fiat currencies of all kinds lose value to inflation (same for bonds, GIC, CDs and all that shit).

What's left? Real Estate. (and metals, which is why gold/silver are also ridiculously popular in curryland).

True that makes sense. All the other shit is too volatile even in the west. So even more so in Curryland. Likely most politicians also dumped absurd money into housing and cannot ever risk crashing the price too.

 

[BraincelsRefugee]

Likely most politicians also dumped absurd money into housing and cannot ever risk crashing the price too.

This is a thing in a lot of countries (especially Cucknada as of recently ), the only places this isn't true is USA and maybe Europe because there are so many high quality investments besides residential property. And Japan where residential property is built as a consumable and worthless after a few decades (like a trailer home).

 

[Transcended Trucel]

This is a thing in a lot of countries (especially Cucknada as of recently ), the only places this isn't true is USA and maybe Europe because there are so many high quality investments besides residential property. And Japan where residential property is built as a consumable and worthless after a few decades (like a trailer home).

Cucknada needs more industries. Especially Ontario region. Far too real estate dependent

 

[Transcended Trucel]

If I can buy those properties up as an NRI Indian I'd gladly do so if it's safe. I don't know how bad corruption is in India now but if it's that bad that my house is going to get fucked and I'll never be able to get it back then I'll discard this idea.

you have to be very vigilant . my father got scammed twice there trying to invest in property. Imo overall not worth it unless your certain you will use it. But as an investment not good.

 

[Deleted member 42309]

Im not a commerce nigger but i think its high demand less supply kind of thing even mukesh ambani wanted a place to build up his reliance projects but didn't get any place in old Mumbai so he bought his land navi mumbai and built everything there and also helped the government to build roads and malls and airports

 

[ilieknothing]

I think owning land and being a landlord is very much valued in curry culture. My dad brags about how much land he has in the countryside. Combine that with the insane curry population which causes high demand and low supply you get insane prices.

 

[BraincelsRefugee]

Cucknada needs more industries. Especially Ontario region. Far too real estate dependent

We can really only focus on natural resource exploitation (which climate cucks have been trying to BTFO for decades).
There has been massive brain drain for decades from Cuckada to the US or Europe where salaries are higher and CoL is lower.

 

[Deleted member 42309]

you have to be very vigilant . my father got scammed twice there trying to invest in property. Imo overall not worth it unless your certain you will use it. But as an investment not good.

He probably gave his money to some weird sketchy builder there are only a few trusted builders in mumbai

 

[BraincelsRefugee]

I think owning land and being a landlord is very much valued in curry culture.

Yes, it's traditional wisdom that "they aren't making more land" so one should acquire as much as possible.

 

[Transcended Trucel]

He probably gave his money to some weird sketchy builder there are only a few trusted builders in mumbai

he invested in Delhi area due to his sister's advice and then another time from a different sister's husband. Both times scammed of like 8-10k lakh for reservation to get a condo unit. JFL, well this was some years ago now but still imo too risky, government will need regulate it somewhat more. Of course not so much that prices go up further due to new property being harder to build.

 

[Transcended Trucel]

I think owning land and being a landlord is very much valued in curry culture. My dad brags about how much land he has in the countryside. Combine that with the insane curry population which causes high demand and low supply you get insane prices.

true makes sense. In USA stocks normally outperform real estate so people do those more. And imo more flexible option. But real estate still not worst idea to have some imo, especially one main house for storage of stuff.

 

[Caesercel]

Property rates only boomed in the last 30 years. People who brought it for pennies are now sitting on prime rentable estates.

 

[BraincelsRefugee]

he invested in Delhi area due to his sister's advice and then another time from a different sister's husband. Both times scammed of like 8-10k lakh for reservation to get a condo unit.

You can't even trust your own family in curryland. I don't know the situation but it's possible those relatives may have had connections to said scamming builders, who knows. Sometimes family can be even bigger snakes than complete strangers. Honestly curry family dynamics are very fascinating.

 

[Caesercel]

Also jfl if you assume that the average salaried dude can afford property in cities. Some of them spend their entire life savings and that of their parents and children's too

 

[Ricordanza]

I was scrolling around my father's neighborhood in Delhi. His property is located in a shittier area but even then it is worth $100-250k USD, so maybe 80 Lakh-2 CR INR ruppees. he owns two buildings with 3 floors each. I was thinking the property would be far more worthless. But somehow it is still that expensive despite being shitty. How the fuck are property prices 40,50 lakh or 50k USD when Indian median salary is 5k use /yr? I also saw some of the more ok or better places/flats cost 1-10 Crores. Like how the fuck are they affording those properties with Indian salary? Are fucking NRI indians buying em up? like how? Maybe entire family earn money and buy building up? I have one cousin who's family did this, he has like 3 brothers and his father who bought up land and made 4 floor building and they all live on jt. Maybe that is one method but still crazy expensive given the salaries even with that .

I also checked and found India has like 9-10x population density of USA which is pretty insane and likely a contributing factor.

@Currycel69_ @Misogynist Curry 卐 @Justice @Am85006 @HighTCurryMale @CurryCoper @CopingForBrutality @pakistanicel @IncelGolem @Zer0/∞ @BraincelsRefugee @ilieknothing @Ricordanza @Caesercel

Builder-bank nexus. Properties are 3 times as expensive as they should be

 

[Misogynist Curry 卐]

It's simple because Delhi is capital. More and more people want to settle here but the land is less, so the prices are high especially in the posh areas.

 

[Claude]

You can't even trust your own family in curryland. I don't know the situation but it's possible those relatives may have had connections to said scamming builders, who knows. Sometimes family can be even bigger snakes than complete strangers. Honestly curry family dynamics are very fascinating.

Over. I remember my NRI father arguing on the phone with his family over investments on property in curryland. He told me that you can’t even trust own family if it’s related to money.

 

[Am85006]

Wrong
Actually house prices were less back in the day and they inflated now

 

[crestfallencel]

prices driven up by (((investors))) no doubt

 

[WizardofSoda]

Combination of factors:

Partially because the whole family bands money together to buy a place and thus the buying power of an average curry is increased.

Partially because it is a really easy way to wash dirty money (which is there is no shortage of in curryland)

But the prime factor is there is no other place for curries to put their money that is considered safe. With all the scams floating around, curries want tangible assets which they can keep in their posession. Curry stock market/private equity investments are out of the picture. Most people don't know about/want to buy crypto. Cars depreciate. Businesses can easily be raided by gunda (thieves) or fail. Collectibles market is not so big in curryland. Obviously fiat currencies of all kinds lose value to inflation (same for bonds, GIC, CDs and all that shit).

What's left? Real Estate. (and metals, which is why gold/silver are also ridiculously popular in curryland).

It's simple because Delhi is capital. More and more people want to settle here but the land is less, so the prices are high especially in the posh areas.

Also jfl if you assume that the average salaried dude can afford property in cities. Some of them spend their entire life savings and that of their parents and children's too

Really good points reading it I think these are the reasons. National capitals are the best places to buy, because the economy is always booming in this time of big government.

One thing with real estate is take cigarettes that people buy all the time in cash, they have to be priced in each place so people can afford them.

But with real estate the number of houses changing hands each year can be small. So only rich people buying them. Or like families pooling together.. and the example where a bunch of adults in one family are living in the house.

The buyer might already have like 10 other houses that they take some loans out on and are renting in various ways the next property they are buying.


Overseas curries can also be buying properties in India for their extended family and as investments.

 

[Simulacrasimulation]

I was scrolling around my father's neighborhood in Delhi. His property is located in a shittier area but even then it is worth $100-250k USD, so maybe 80 Lakh-2 CR INR ruppees. he owns two buildings with 3 floors each. I was thinking the property would be far more worthless. But somehow it is still that expensive despite being shitty. How the fuck are property prices 40,50 lakh or 50k USD when Indian median salary is 5k use /yr? I also saw some of the more ok or better places/flats cost 1-10 Crores. Like how the fuck are they affording those properties with Indian salary? Are fucking NRI indians buying em up? like how? Maybe entire family earn money and buy building up? I have one cousin who's family did this, he has like 3 brothers and his father who bought up land and made 4 floor building and they all live on jt. Maybe that is one method but still crazy expensive given the salaries even with that .

I also checked and found India has like 9-10x population density of USA which is pretty insane and likely a contributing factor.

@Currycel69_ @Misogynist Curry 卐 @Justice @Am85006 @HighTCurryMale @CurryCoper @CopingForBrutality @pakistanicel @IncelGolem @Zer0/∞ @BraincelsRefugee @ilieknothing @Ricordanza @Caesercel

This is the sad fact
even in these "developing" nations, it always goes straight to HUGE INEQUALITIES OF WEALTH AND SOCIAL STATUS, the more westernised and capitalised a nation becomes the more inequality is exposed.

I believe the "free" market economy merely lays bare more of humans nature than every other system, hence it is "free" however human nature seems to be utterly corrupt self serving and narcissistic, AND EVERY SINGLE NATION THAT ADOPTS THIS SYSTEM INQEQUALITY ON A BIBLICAL SCALE ENSUES.
INEQUALITY IS MERELY THE EXPRESSION OF THIS HUMAN NATURE LAID BARE, THE CORRUPTION, THE WINNER TAKE IT ALL, THE GREED ENCAPSULATED IN ONE METRIC.

Also what is worse is that EVERYONE THAT IS HIGH IQ KNOWS THIS, they know the system is utterly corrupt by definition, BUT MERELY GOES WITH THE SYSTEM AS IT BENEFITS THEMSELVES AS THEY ARE AT THE TOP OF THE PILE LOOKING DOWN ON PEOPLE AT THE BOTTOM OF THE PYRAMID AND THE SYSTEM ITSELF BUTTRESSES THEIR OWN POSITION SO THEY WONT LOSE.

 

[Transcended Trucel]

You can't even trust your own family in curryland. I don't know the situation but it's possible those relatives may have had connections to said scamming builders, who knows. Sometimes family can be even bigger snakes than complete strangers. Honestly curry family dynamics are very fascinating.

Indeed, the magnitude some curries go through to carry out scams mind boggles me

Tbh wouldn't be surprising, if they were involved in the scam skmehow. They also constantly beg my father for money. And this cuck often gives in although less often now and seems to getting fed up.

Also jfl if you assume that the average salaried dude can afford property in cities. Some of them spend their entire life savings and that of their parents and children's too

yeah beyond ogre for them. Imo they should dump most of the salary in stocks or in cheaper land that will likely become expensive inevitably as the country continues to grow. Rent prices still seem relatively affordable from my research even for the mote expensive properties. So likely renting isn't worst option for many of them.

This is the sad fact
even in these "developing" nations, it always goes straight to HUGE INEQUALITIES OF WEALTH AND SOCIAL STATUS, the more westernised and capitalised a nation becomes the more inequality is exposed.

I believe the "free" market economy merely lays bare more of humans nature than every other system, hence it is "free" however human nature seems to be utterly corrupt self serving and narcissistic, AND EVERY SINGLE NATION THAT ADOPTS THIS SYSTEM INQEQUALITY ON A BIBLICAL SCALE ENSUES.
INEQUALITY IS MERELY THE EXPRESSION OF THIS HUMAN NATURE LAID BARE, THE CORRUPTION, THE WINNER TAKE IT ALL, THE GREED ENCAPSULATED IN ONE METRIC.

Also what is worse is that EVERYONE THAT IS HIGH IQ KNOWS THIS, they know the system is utterly corrupt by definition, BUT MERELY GOES WITH THE SYSTEM AS IT BENEFITS THEMSELVES AS THEY ARE AT THE TOP OF THE PILE LOOKING DOWN ON PEOPLE AT THE BOTTOM OF THE PYRAMID AND THE SYSTEM ITSELF BUTTRESSES THEIR OWN POSITION SO THEY WONT L

yeah sadly that is how the system works. No real other way of growing the economy as fast in the end though. Countries who try other systems mostly failed. Imo best they can do is be like China where they let the wealth gap grow and grow. Then recently for last few years been controlling the growth and adding higher taxes of rich to redistribute some of the wealth. Ofc this means in the short term growth is hurt significantly but it also means the average citizen will live better

 

[Transcended Trucel]

Really good points reading it I think these are the reasons. National capitals are the best places to buy, because the economy is always booming in this time of big government.

One thing with real estate is take cigarettes that people buy all the time in cash, they have to be priced in each place so people can afford them.

But with real estate the number of houses changing hands each year can be small. So only rich people buying them. Or like families pooling together.. and the example where a bunch of adults in one family are living in the house.

The buyer might already have like 10 other houses that they take some loans out on and are renting in various ways the next property they are buying.


Overseas curries can also be buying properties in India for their extended family and as investments.

Leverage is definitely very powerful in real estate for sure, the people who already have good expensive property can get loans to scale further and further. Cucking those who didn't very hard. Governments never seem to solve this. As the leaders and officials do this themselves. In a better world, the tax rate would slowly go up as extra property was bought up by same person, so discourage hoarding .