NEW DELHI ”” The fading bungalow at 38 Amrita Shergil Marg does not immediately shout real estate bling.
There is no tennis court, no infinity pool, no Sub-Zero refrigerator or walk-in closet. The paint is chipped, the bathrooms are musty and the ceilings have water stains. The house may ultimately be torn down.
Yet when it went up for public auction, the winning bid was almost $29 million. And many neighbors consider that a bargain. One block away, a gracious if not quite Rockefeller-ready residence once leased by the Mexican ambassador is now reportedly on the market for more than $100 million. Other nearby houses are going for $40 million to $70 million.
“The price of the Mexican residence is $110 million,” said Jorge Roza de Oliveira, Portugal’s ambassador to India. “You can buy a home in New York and Miami and Lisbon and London and keep a lot of change for that much."
The only good thing is when it goes really pear shaped, the pollies will lose their pensions and perks.
That's if the same country runs the government.lolDon't count on it. Come hell or high water the pollies will take care of themselves first.
This thread has been inactive for a while so I thought I'd generate some discussion.
I don't know if it has been discussed before but the link below shows updated land holdings for publicly listed companies.
http://www.macrobusiness.com.au/2013/03/prosper-responds-to-land-banking-developers/
It was originally published by prosper. The major developers have on average greater than 10 years of land supply ...
If she's got the initial capital and income to support such an arrangement, why not.I've suggested this is the old 'too many eggs in the one basket' idea, not to mention she is failing to generate any income and incurring two lots of expenses via rates, insurances etc.
A controversial but good article on from the Gen Y point of view on housing affordability.
http://www.brisbanetimes.com.au/com...-dreams-of-finding-a-home-20130404-2h9i4.html
I'd appreciate members' comments on the wisdom or otherwise of the following:
Single, early 50's, part time teaching, following settlement of sale of family home, about $10K in Super, is considering buying one house in Sydney and one in the Blue Mountains, dividing her time between these.
Declares she hates 'this vile city of Sydney" but needs to keep a home available for two teenage sons, one 18, one 16, both deaf but very capable (older one working and younger on scholarship at Hills Grammar).
The original plan was to sell the family home then, after clearing the minimal remaining mortgage, put some into Super.
I've suggested this is the old 'too many eggs in the one basket' idea, not to mention she is failing to generate any income and incurring two lots of expenses via rates, insurances etc.
If she's got the initial capital and income to support such an arrangement, why not.
If not, then it's a question of priorities.
its just a state of mind, you don't need to start renting from the bank to start a family.
I'd appreciate members' comments on the wisdom or otherwise of the following:
Single, early 50's, part time teaching, following settlement of sale of family home, about $10K in Super, is considering buying one house in Sydney and one in the Blue Mountains, dividing her time between these.
Declares she hates 'this vile city of Sydney" but needs to keep a home available for two teenage sons, one 18, one 16, both deaf but very capable (older one working and younger on scholarship at Hills Grammar).
The original plan was to sell the family home then, after clearing the minimal remaining mortgage, put some into Super.
I've suggested this is the old 'too many eggs in the one basket' idea, not to mention she is failing to generate any income and incurring two lots of expenses via rates, insurances etc.
As I understand it, would be a massive investment in two houses with matching never ending costs yet no income???Single, early 50's, part time teaching, following settlement of sale of family home, about $10K in Super, is considering buying one house in Sydney and one in the Blue Mountains, dividing her time between these.
Declares she hates 'this vile city of Sydney" but needs to keep a home available for two teenage sons, one 18, one 16, both deaf but very capable (older one working and younger on scholarship at Hills Grammar).
It's amazing how much the sentiment has changed in two years. The good news is that the young people I know are skilling up, earning more, saving more, and not buying houses, we're renting, sharing, doing everything we can to avoid paying for them because (in our opinion) it's a waste of life to be stuck working long hours in an unstable job market just to hang onto a house that does nothing but cost you.
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