Hi All - let's talk something about future of India by looking at history of economics and current business trends.
Also we need to understand price hikes and massive inflation going on in our country.
Also we need to understand price hikes and massive inflation going on in our country.
I was in US for last 8 years and owning a house when housing market crashed over there. At the same time my uncle was there in Ireland and he not only witnessed but also fighting with it till date.
This is what happened with US – in 2006 some economist said that there is no issues with economy of US, there are no TAX we are expecting we have great housing market and we have lot of assets in the country. But at the same time, in the same interview another economist was telling completely reverse thing – he was Peter Schiff. According to Peter in 2006 itself that recession is on the door and it will going to hit the market any time. It happened in 2008.
I bought a house and luckily I was able to sell it on same price, however in my area (Chicago Suburbs) there was nothing much in difference as houses were not of that hipped prices. But in VA and CA and many other states house prices were on top because of no reason. It fell down, one of my friend’s house of 365K went down to 225K and this is nothing as compare to CA house prices.
In Ireland it was more difficult – houses were at top high but after 2008 there was no buyer – whatever price you want to put in. My uncle is moved to Canada now but still having mortgage of 2 houses in Ireland which he is not able to sell and even rental is also very difficult there.
Now about India – I came back here on 9/9/9 it’s been more than a year now and I am seeing the same condition here. Moreover India is going to get hit very badly the way it is progressing. There is no production out here, we are just outnumbering other countries otherwise if you see there is nothing which we produce and it signifies something.
We are looked as big market because of our population but see this 100 people are working and production is equivalent to say 10 people in developed countries. Now if we try to distribute this 10 into 100, the distribution is also not even – first 5 will take most of it and after that distributed and 50 out of 100 will be in poor category. Unless we increase productivity we will see very adverse effect in our economical and social front.
How do we justify prices of anything in our country – there is no way it should be. If we keep on doing this, the wealth developed by this will be taken by most of the MNCs – its matter of few years.
