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Commentary

Switch off your TV, Stop Buying Papers, Say Real Estate Developers

Talk about ostriches with their heads in the sand. From DNA:

“Journalists are blowing up the issue (of real estate slowdown) to
become hot journalists and step into the limelight,” said Mufatraj
Munot, chairman, Kalpataru Properties.
He said negative publicity in the media was one of the reasons why
properties were not
being sold.

An exasperated Ramni Shastri, managing director of Sterling
Developers, had a suggestion for those wanting to buy property: “The
media is hyping the decline, so when you see stories of a slowdown in
news channels, just switch off your TV set. When you read the same
thing in newspapers, stop buying the papers.”

Oh really. So prices should only go up, no? This is a stupid market, that keeps prices down! Stupid media. Only report the bad stuff.

Where were these guys when the media was interviewing their suited, booted CEOs and hailing the great property mela India had become. Did they stop and say, uh, prices are too high, please shut off your TV? If anything they would cut out a news clipping and hang it on their walls.

They want us to be ostriches and hide our heads in the sand. They sound to me like a monkey holding his hand to his ear, saying ‘nanananaa-i-can’t-hear-you’, with a subtle difference: I might actually trust the monkey.

I wish there was a way to short property. There is a LONG LONG LONG way to go before prices go back upwards. If you’re looking to buy, don’t.

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