Irrational Exuberance – Gambling on Pakistani property market

From Drudge Report...it`s just developing and not breaking hard(thanks to Miers?)

NYT TUESDAY FRONT PAGE: Real estate slowdown that began in a handful of cities this summer has spread to almost every hot housing market in the country... Developing...

you cant go wrong with real estate and/or diversified stocks as long as you hold them for at least a few years. people who lose their shirts are the ones who seek to be too clever (like putting money they cant afford to lose in single stocks which they think are ready to zoom; or day trading, where transaction costs eat up all their profits). and there is no good time or bad time to buy - since no one, not even the computer-model supported overpaid new york types - has as yet been able to predict the turning points from recession to recovery in stocks, housing markets.

Re: # 99
DMSir,
DESI Vela jerre ne oho Property Dealer ban jaande ne.

I remember when I was in India, one man came from USA painting himself as real estate magnate.
Late on we found out that he was a cook in a restaurant and did his real estate business on weekends. There are lots of such like people.

ali_1#94:

You talk like the real estate salesman who sold me a time-share.

#96 romair, tuhanu kehRay laaToo laggay ne jo memaN dekhan aundiaN?

Re: # 94

Doer Ali, Good for you that you`ve made money and, seriously, I hope that you can get yourself to sell the $600k house in the next six months and lock-in your profits!

As far as your plot in Islamabad is concerned, I would book a flight and try to dispose it off ASAP. Because as it happens, March was the peak of the property boom. For since then, property prices have stagnated or fallen, primarily due to the scandalous collapse in stock market from 10,355 to 7,000. All those stock market gurus (your so-called DOERS), who had leveraged their positions 10x or even 30x (what`s the matter with us desis, we seem to lose all sense of proportion!) lost their shirts and had to sell realisable assets (i.e. plots) to fulfil their stock-financing liabilities! Karachi Defence Phase 8 has already come down by 20%. Plots surrounding Pindi/Islamabad have come down on average by Rs. 25lacs ....

dullahbhatti #74: ``I am looking for a nice vacation area with lake or skying or beach where people come for vacation year round....naale kamm karo naale memaN dekho beach te...``

Bhatti Saab, asseen memaN nuun veekhan neehn jainday. MemaN sahnun takkan andiyaan nain........

#93 dullay, for desis ``They live like they will never die and when they die it seems like they never lived``

There are two types of folks, the doers and the procastinaters. The later will analyze, philosophize and rationalize any opportunity till the opportunity is no more.

The doers will jump at the opportunity. Some of them will loose money, a few of them their shirts, but a substantial number of them will make good money.

The Doers made an enormous amount of money in the dot com bubble and are making an enormous amount of money in the real estate these days. The author and several interactors on this board can keep on analyzing and philosophizing... good for you!

malikk, err...that was a light hearted comment. Of course I worry about retirement and planning for it..in fact that is my main focus these days even though I am miles away from retirement. I won`t advise anyone otherwise. I think this is a natural tendency in humans to save and plan for future.
But you do have a point of lack of interest and will power amongst desis in general to live the life to the fullest.

Re: # 49

Romair-mian..

{{You live in some unknown boondock of Michigan - a place worse than even Detroit.}}

For your kind information...do you know who the main residents of mid-Michigan are?...frikking Canucks who got fedup of being boinked in the skulls with hockey pucks...

{{So how can you even dream to comment about Toronto? It`s like a psychiatrist commenting about a heart surgeon. As they say, ``People who live in glass houses, should get dressed in the basement.``}}

Why? ...people who are OK with their self-esteem should`nt care if they walk nude in their glass house....i mean...not in front of children...ofcourse...unless you are Jain...


{{I will give you this one. My grandfather always told me, ``Never make any financial decision, before talking it over with an Indian; specfically a South Indian.``}}

Gee...is that why he hi-tailed it to Pakistan?!

{{I sold my house after discussing with a Sardarji. He was the closest thing I could find to an Indian, at that time. Little did I realize that Sardarjis are just as stupid as us Pakistanis.}}

Thats where you are kindly mistaken....we Indians neeeeeeed those proud Khalsa warriors....who better to cut Paki-miltry`s-penis-god-off;; then them? Geee...they`ve done that so many times that... they are actually not enjoying it ...as much as they did...

Oh...one more thing...takes a cool Sardarji from Gahhhh to outclass a silly munda from Dilli...
in Amrika.....


{{Since then, I have learnt my lesson. Now, I don`t even buy an iPod, before walking into the local South Indian vegetarian restaurant, and discussing the investment with any random South Indian...........}}

Wow!...I`m really worrying about you...yaaro!...all those nights in those foxholes with Lance Naik you-know-who & you attain a whole lot of wisdom...rectally!

Re: # 45

temporal-ji,

{{breathe deeply...one...two...three}}

I took 1 breath ...felt good
I took another breath...felt better...
then I took a 3rd breath...& got a big whiff of Azaad Kashmiri ka-ka...
now how is that good?!

{{have u been behavin`?}}

As usual, I`m the best behaved penis-god worshipper on Chowk...so dont believe any ugly rumors being spread about mois....
damn...ever since people have been ``filtered`` out of Chowk for ``bad upbringing``....i`m creatively trying to get past Chowk censors....

hmmmm.....maybe I should send you 2 Canadian malts every yr...rather than only one...


{{oh...yes...reason for this post...lay off TO please...}}
Meherbani kar ke....what in Allah`s name is TO?....khali-peeli Punjabi mein gaali mut dena yaaar:)

dullahbhatti writes ``in the long run we are all death``

indeed, in the long run we are all dead, whether we are easterners and westerners. but it so happens that westerners dont dwell on that. they plan for life.

A case in example, K-2 is in Pakistan. But an Italian team trained for it, got the visa for Pakistan, flew to pakistan, arranged all the remaining logistics, and became the first humans to set foot on the peak of K-2. Why didnt Pakistanis or Indians do it forst? Well, because they extend the ``in the long run we are all dead`` to ``changa khaO, naNgay naaOh te maujaN uRaaO`` - making this life an irrelevant entity. Just being in a western society, one gets amazed at the emphasis that this society places on planning for retirement - 401, RRSP, pension plans, insurances etc etc.

There is a quotation that is attributed to Hazrat Ali (rah) and I will paraphrase it: Plan for life as if you are going to live for 1000 years. Plan for after-life (akhira) as if you are going to die tomorrow.

Romair #85 writes ``How about opening up a desi nightclub in the Brampton/Mississauga area``

Ineterestingly, this idea of a desi nightclub, bhangra club to be specific, was something I heard quite often during my time in Toronto. In fact, one of my friend went pretty far in his planning process for an indian / pakistani karaoke bar :) so yes, the time is ripe for something like that to occur.

as for the sports bar for desis, i think that wont fly. the younger generation of desis who are into sports bar scenes, tend to frequent the ones with canadian games anyways. the older generation, or the newer immigrants would much rather have their nihari / biryani at home while watching the cricket game on satellite tV.

bottom line is:

- in the long run we are all death -

so why:

save
invest
argue
fight
worry
fear

changa kamaO, changa khaO, nagay naaOh te maujaN udaaO.

#85 I think idea is in progress already in GTA and it is a matter of who jumps in first..problem is pretty soon everyone will jump in and we will have 20 sports bars...plus biggest problem will be fights and maaN bhehn di that will follow every night. koi peaceful kamm chai`da ay..beach, sunshine, fruit drinks, fewer clothes, fresh air...banda relax kare naale paisay ginnay.

Kulharee, you have a good point. At the end we are all dead and when Waheguru asks putt ki keeta zameen te? answer can`t be I have 4 houses and 2 motels....he might reprimand for not enjoining the intangible creations of His on earth. Unlike you guys we have to enjoy our 72 grapes on earth and then do bhagti in waheguru`s presence.:)