Did you benefit in the current RE downturn?
| At last have some breathing time this week to sit and write. I often see messages and new items which says recession is over. Good if its really over. Caution if you feel it is still hanging around. A jist of what i witnessed for the past one year. |
Satyam scandal and financial crisis: I personally got affected by both of this. Had a rough year. All my money in stocks went to dooms. Well patients pays, i exited with a low loss on Satyam. But had a good hit on others.
What i saw, My favorite stocks like CTSH, CAT, etc was trading at $14, $29 around early this year is trading at $45,$60 now. Hmmm !!! wish i was greedy on this.
My property investments in chennai did not go down even a single rupee.It reinforces my belief that investment in good area and given a decent time, you are not going to make losses. I am repeatedly offered good price for my properties. I am never a speculator or look property as a avenue to make money. So i just hold on and believe i wont go wrong.
My dream properties are still out of my reach. I always wished to own a one floor one flat property or a stylish villa. Both are running in crores. 
OMR properties took a good beating. Luckily i exited from OMR at the right time.
Saw a huge no of affordable properties in terms of low budget and low space category. I feel these properties may not be good bet for appreciation but if one wants to own a home then he/she can buy it.
Big land deals are back: 60 grounds for Rs 120 crore.TVH To Buy Part of Muthiah Land
Second sales have eased a bit across chennai.No more fancy prices for second hand homes.
My question to you. Did you benefit from the RE downturn.? Did you buy any property for a low price?. I know quite a few readers who are holding cash, do you still feel it was worth holding the cash?
I still feel, those who are investing now in stocks or property are going to reap benefits in a year or two.
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