PROPERTY MARKET IN CHINA UNDER DOLDRUMS

The realty business in China is in doldrums. For last several months, China is said to have more than 200m empty apartments. China has more living space per capita than Europe or Japan so this is not a housing shortage. Given the unprecedented amount of living space, it is hard to see how higher rents have been sticking. The huge stock of empty flats equals not just price, but quantity, bubble, which are less common & shorter than price bubbles. Unusually, China seems to be experiencing simultaneous price and quantity bubbles. If either pops, results could be disastrous, but that outcome can be avoided.

Buyers of new house in China may resort to divorce or postponing marriage in order to save money as per the new housing rules , a report in the Economic Information Daily found.

The central government has announced a new housing regulations recently, under which the down payment requirement for a family purchasing a second house has been raised from 40 percent to 50 percent with the mortgage rate 1.1 times the benchmark interest rate.

Moreover, a much higher down payment and mortgage rate would be required for the third home and beyond.

A couple in Central China's Hunan province found they would have to pay an extra 50,000 yuan and 100,000 yuan as the down payment and loan interest , respectively, under the new regulations, for their estimated 720,000 yuan second apartment.

However, the real estate agents dug out a convenient shortcut for the couple to save the increased 150,000 yuan cost- getting a divorce.

"The home regulations are family-based, thus I can pay a 30 percent down payment and enjoy the 15 percent discount in mortgage rate once I get divorced and become single," the husband calculated, "then we can remarry after the purchase".

Facing similar situations, others are also postponing marriage in order to buy an apartment under the conditions of the old housing policies.

Photo: Internet

STRINGENT ACTION IS NECESSARY

This is really serious and disturbing news. Ms.Madhuri Gupta, One of our top beaurocrats, who holds key position in Indian High Commission office at Islamabad has indulged in passing Indian secrets to Pakistani Government. This has been a case of infidelity and our intelligence Dept. needs to tighten up its vigil eyes on more of such people who keep on unveiling Indian secrets to other countries. The security of Indian sub-continent is at perils, as top officials like Gupta have joined hands with Pakistan Govt. to let down the image of our Country. This needs to be checked with stringent actions in the better interest of our Nation.

This is highly disgraceful !

This is highly disgraceful to note. Our media either print or visual both are biased. They have lost vision as to which prominence is exclusively necessary. The media runs behind celebrities and create hype, exaggerating their lifestyle, food and routine activities. Is this fair? No one has reply.

There are thousands of people whose contribution to this nation is ignored and insulted. Those who are in the dark doing their profession as a way of life, maybe for their own cause of leading life is definitely a source of inspiration for the mass. Take the example of a farmer, an artisan or anyone you name, who devotes his entire time and energy for a noble cause, without urging for publicity. Because of their dedication, the nation is in right path. There will be a tragic story behind everyone’s life. He will come across it and do some achievement and come forward in life, may it be a farmer or an industrialist.

But we often see and watch news only about business tycoons, industrialists and those who have cornered crores of rupees. Our illustrious newspapers world over publish articles about those multi-millionaires and their achievements, most of them from Industrial segment. The Forbes list of richest people in the world gets published every now and then and it will be talk of the town all the time.

But why not we speak about a farmer with a small holding who strives in his career and achieves something great which may not be in crores?. Most of us know many such people who are not in the limelight, but have definitely done great job within their sphere of activity. The farmer who generates electric power in his own farmland and sets a model to others needs to be highlighted. Our newspapers and visual media is ignorant about such achievers who are in the remote corners. Why our media is reluctant about such unsung heroes who are doing their might for the cause of building the Nation. Why is this so? The main reason behind this is very clear. Now we often watch and read paid news items. A farmer in the remote area cannot afford this, that’s why he is still in the dark.

Recently Tennis Star Sania’s marriage with Shoib Malik was much hyped with unnecessary publicity. Every aspect of her families activity, their food, dress and everything was publicized added with spicy masalaa. This is one example as to how our media runs behind celebrities to pick-up whatever the celebrities spit. To be frank, I am disgusted reading such news items every now and then. I strongly feel, the dignity and decorum of the journalism is polluted to a great extent. Photo: www.google.com

WHAT IS THIS MR.THAROOR?

Union Minister of State for External Affairs, Mr.Shashi Taroor, who is said to be the stakeholder in IPL's Kochi team alongwith his soulmate Sunanda pushkar, is in the centrestage of controversy. The question about IPL Kochi franchaise in which Sunanda Pushkar is having an equity of Rs.70 crores, has raised the eyebrows of opposition leaders as well as general public. IPL Chairman Modi has made it a point to put Tharoor in controversy. Tharoor who holds a responsible position in the Union Government, unless keeping mum on the controversy, should reveal his identity in this deal and make it clear and transparent.

Even Dr.Manmohan Singh has said he will summon Tharoor to give explanations as to the issue.

No one is pure and perfect in present day politics. Everyone is behind money. Money is the only substance which attracts one and all. Mr.Tharoor, you have been in controversy for quite a long time. What is this ? Why can't you wipe out the blemish and transparently bring down everything to the notice of the general public?