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?

IS POLITICS THE LAST RESORT OF A SCOUNDREL ??

WHO SAID IT ? No we need to give a new definition to the term ‘ politics’. For many it is a business, and also it is a shield to grab land and amass huge wealth. Irrespective of the parties, all are indulging in activities which will really damage the hope of good governance. Now the process of parliament elections is on and hectic activity is on in political circles.

The way political leaders speculating about their party’s success, shameless political leaders jumping from one party to the other, like a monkey jumping from one tree to another thinking that the fruit is sweeter there than what it is tasting right now. Our so called leaders have lost vision, virtues and values in their political life. The term ‘ value based politics’ has lost its intrinsic value. Today the politics is the only field where one can amass huge wealth which cannot be gained in any other business.

The money power, muscle power is becoming determining factor to win. Those who do not have these powers they cannot afford to win. If one has the money power, then he can easily acquire the muscle power too.

If we look at the list of contestants, majority of them are facing criminal cases in one or the other context. There are land grabbers, mine kings, liquor barons, real estate kingpins and ofcourse rowdies. Their knowledge about constitutional affairs, social and economic responsibilities and cultural heritage of this land is below par. Most of the contestants are just literates or illeterates. Their vision is only to make money. They know it very well that they can earn money if elected. As such they are ready to spend money in crores.

If we just have a glance at the assets declared by the contestants, it runs in crores. Just compare the assets declared by the same person during last elections. Suppose if his/her assets were 10-15 lakhs during last elections, this time they are declaring it at Rs.10-15 crores. How this has become possible. Within a span of 5 years how they amassed such huge wealth ? what is the actual source ?

He who makes money and poses himself as a person with all moral virtues, wearing white and white dress with an artificial smile on his face and thinks only about his own progress is the best politician today and he is the king. We the poor citizens are the fools who vote such corrupt politicians and pave their way to success to amass further wealth at our cost.

CHIDU NOT OUT – JUST MISSED THE SHOE SHOT

Gone are the days when people used to throw rotten eggs and tomatoes on political leaders as a mark of protest. Now for everything we are following western culture. Yesterday, in a Press Conference in New Delhi, Jarnail singh, a sikh journalist threw shoes targeting Union Home Minister P.Chidambaram, to express his anguish against CBIs decision giving clean chit to Jagadish Taitler who was the main accused in massacre of Sikhs in the aftermath of the assassination of Indira Gandhi. But Chidu managed to miss the attack.

Akali Dal has announced a prize money of Rs.2 lakhs to Jarnail Singh and some of Sikh groups are in jubiliation over the issue. After America and China, now it is the turn of India to witness such a protest.

In yesteryears, it was in practice to throw rotten eggs or tomatoes, but now the time has seen rapid changes that too with the presence of global influence. A layman was responding on this issue stating that our politicians deserve it.

Photo courtesy: Internet

PULLING OUT SWISS BANK MONEY – IS IT JUST ANOTHER ELECTION ISSUE ?

Obviously, it is the time for our political parties to create hype and bring some issues to the forefront as the process of parliamentary elections is already on. The agenda chalked out by various political parties in their Election Manifesto is such that if they are elected to power, they will definitely forget to implement the manifesto. Moreover it will not be a possibility to implement the manifesto as single party governance is not at all possible in India at present juncture. Since multi-party partnership governance is likely in India, considering the different agendas in the election manifesto, some being contradictory to each other, one cannot expect the ensuing Government to fulfill the election manifesto in Toto. Even then the political parties stick to their manifesto during campaign and claim that they will definitely adhere to the agenda chalked out by them, even though they know it is impossible. Is it not a mockery of our democracy?

To say in brief, Bharatiya Janata Party claims that it will pull out Indian black money from Swiss Banks. This is one of the agenda in the election manifesto of BJP, which has been a subject matter of hot discussions now-a-days. It is a well known fact that India tops in the list of highest deposits made in Swiss Banks. One estimation reveals that the deposits by Indians in Swiss Banks amounts to around $5.7 billion.

Considering L K Advani’s demand of bringing back ‘Indian black money’ allegedly lying in Swiss banks, the Bharatiya Janata Yuva Morcha (BJYM), the BJP’s youth wing, has planned to organise a public vote at 100 locations in the Capital on the issue on April 6 — the anniversary of the BJP’s inception.
Leader of the Opposition L K Advani had made the demand on Sunday saying Indians had around $5.7 billion in Swiss banks. The amount should be brought back home and used for development activities in India.

The questionnaire prepared by the BJYM has five questions for voters. Do they know that India’s black money is deposited in Swiss banks? Do they agree with the BJP that the money should be brought back to India? Which party do they think can bring back the money? If the black money in Swiss banks is the reason for corruption and political instability? Can the money be used to clear the country’s debt and for eradication of poverty?

After all whose money is this lying in various Swiss Banks ? Who are the depositors and beneficiaries of this unaccounted black money ? Will the BJP be able to do this task if it gains power at the Center ? These are the questions that haunt the common voters. It is the general opinion that this is just another political gimmick to attract the attention of common voters. Is it ?