My friend in Bangalore is a builder. Steel and cement prices are going through the roof. He says that banks have money but are unwilling to lend (Don’t look at me, I am just the messenger here.) Major construction sites are all downsizing their workforce, working with a third of required workforce, cashiering the rest of them. It isn’t pretty.
Anyhow, while discussing all this, he gave me his personal take on the housing market over there.
The average software professional (mid to late twenties) earns about Rs. 40000. Along with the spouse it is Rs. 80,000. Subtract 20000 toward household expenses. Another 10000 towards the car loan. Subtract another 10000 on credit card dues and/or personal loan EMIs. That leaves them with Rs. 40,000 to spend on a house of their own. It follows that the Rs. 35-40 lakh flat in Bangalore is the upper limit of capability for the average couple.
I asked him, what about the single dudes who aren’t married, how does he intend to sell stuff to them? How’s he gonna get them to get married?
My friend is opening a marriage bureau.
October 13th, 2008 at 5:27 pm
The write-up is indeed thought provoking…i am glad that i am getting married with this article its sure to ease my financial burden…great goin.
November 18th, 2008 at 12:22 pm
So that means marriage is the solution to get a loan?
November 18th, 2008 at 7:20 pm
Well ask your friend to register me for the marriage bureau. Hey just kidding but i think a person when young and single his cost would be lower and so he would be in the position better then your friends inputs.
November 19th, 2008 at 8:14 pm
That means that everybody should get married to get a home loan. I think when you marry not only car, house expense and credit card payments you are going to incur there are other expenses also to be consider like you have to pay the insurance premium, then if you have a child then his expenses. So in my opinion take loan when you are single.
November 19th, 2008 at 8:18 pm
Great idea to take loan get married with a earning women. But i would like the author to put light on what in case a divorce happened and the loan is taken jointly.
November 19th, 2008 at 8:26 pm
Hey Ajay consider me as an option if you are thinking about marriage. Hey just kidding but i think young people have more expenses as compared to the old ones. so his friends inputs are quiet realistic.