Good I am happy now common man can start buying scripts, houses, car.
The IT people are responsible for this. Because of greed they have landed in situation where they earn 75000 Rs and pay an EMI of 70000. Now the interest rates should go up to 15% so they are out of cash.
Also they never thought that they could have this situation. 20 year loan they took and thought every year they would get a hike of 20 %. Now its a lesson for them as well.
I am happy the sensex should come to 6000 points where people can invest and get a decent return of 10 to 11 %.Then the economy grew because of IT. Now the IT people would come to Road because being defaulter. you can see so many suicide cases as you are not able Pay the EMI. The flat on EMI,Car on EMI, Personal Loan EMI, Foreign Trips EMI. You are all going to get bankrupt. Now you may lose the job as well since you are not assured of 240 Months Job 🙂
All the people who have invested be cautioned until 2012 you are not going to reach 21500. Also The real estate market has crash. DLF announced 4500 for a property in cochin later they said first 100 flat its 2500 per Sq ft. So wait and see the real estate market will come down to year 1998 where you can get houses for 2000 per sq ft in prime location.
-statement by mr.x-
Well i’m not an IT fellow and I’ve no intentions to be greedy about their packages. But some of his points are true. Without IT i cant blog like this now.
Will Indian Economy glow again??