Re: Return of the Sharif's
The prices of land and houses have affected the common and poor people of this country more than anyting else.
20 years ago, one could buy a good house with the same money he would have to pay for a Toyota car. Now you can by 10 Toyota cars for the price you pay for a good house these days.
Re: Return of the Sharif's
So poor and middle class people cant even dare to think about buying of house of their own.
Re: Return of the Sharif's
Incomes has gone up for 1-2 % whereas, teh vast majority have to face ever increasing prices of commodities.. thus creating a vast gap between have and have-nots.. same as BJP lost in India (India did much better than Pakistan) inspite of doing wonders since fruit of development didnt reached the down trodden..
incomes have gone up by more then 50% on average.
per capita is now gona hit $1000 soon.
if you have to pay more for your commodities, you are also earning more.
Re: Return of the Sharif's
These artifical prices of houses and plots of land is because the rich people are investing in them (a number of them from overseas)! But most of these houses and plots are empty.
Re: Return of the Sharif's
^^ And now the prices are so high that even poor Overseas Pakistanis like me cant afford a mediocre place in Karachi.
Re: Return of the Sharif's
^^ And now the prices are so high that even poor Overseas Pakistanis like me cant afford a mediocre place in Karachi.
Yes indeed! I know most overseas Pakistanies are always hand to mouth.
Indeed these are the rich and super rich who are benefitting from all these articifial pricing.
Re: Return of the Sharif's
Did you read post # 157?
Re: Return of the Sharif's
If I were in England I would have owned a house after a working life of some 10-15 years over there. I cant think of it even at superannauation here in Pakistan now! Although I earn $10,000/= per anum here.
Re: Return of the Sharif's
Yes indeed! I know most overseas Pakistanies are always hand to mouth.
Indeed these are the rich and super rich who are benefitting from all these articifial pricing.
Well because most of the time , they are supporting two families , one here and one back at home .
I know what ya mean , its always Poor fella , who gets the grinding
Re: Return of the Sharif's
incomes have gone up by more then 50% on average. per capita is now gona hit $1000 soon. if you have to pay more for your commodities, you are also earning more.
If u segregate the data further - imaginee how many of them got from US $ 300 to US $ 1000.. not as much as there should be.. whereas as property mafia and few elite sections had their incomes soaring to great heights..
Averages such as these dont show all that is behind the data.. imagine if u put some ones head in a microwave and his/her feet in a deep freezer and say the average temp is 98 degree and the person is comfortable then I dont believe u :)
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If I were in England I would have owned a house after a working life of some 10-15 years over there. I cant think of it even at superannauation here in Pakistan now! Although I earn $10,000/= per anum here.
Yea i got friends back at home , most of them are on good Salaries , I know couple of them , who are getting 80 + Pm , but they all moan ’ yara kuch Bachtah hi nahi ‘ .
Re: Return of the Sharif's
But I believe if there was someoneslse on the throne of Islamabad, the inflation would have been more or less the same.
Re: Return of the Sharif's
Yea i got friends back at home , most of them are on good Salaries , I know couple of them , who are getting 80 + Pm , but they all moan ’ yara kuch Bachtah hi nahi ‘ .
Even if they save, the saving is not enough to buy a house or plot of land.
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^^ But the bubble here is on the burst , so it is in USA . But in Pakistan , there is still a hype .
Re: Return of the Sharif's
I agree with frauds. while consumer goods became cheaper, real estate shot up everywhere.
here in London, a new toyota may be same price as Pakistan. property average house price is about 250000 pounds and thats a merely 2 bed squezed house. 300000 plus are decent normal houses. its 20 times a toyota here.
Re: Return of the Sharif's
aliyish, its not going to be a real estate meltdown, correction and slowdown yes but houses that cost 1/2Million will not lose 50% of their value.
its very simple, look up data for avg wages in 1967, 77, 87, 97, and 2007 and look for avg home prices in the same years.
the affordability is just not going to be the same as it was.
It depends if we have mortgages in Pakistan. I don't think the trend has started for houses yet like we have bizzilions of of cars in karachi on monthly installments.
Re: Return of the Sharif's
Do price of houses really indicate affordability of housing?
In the us (assume it'll be similar in uk) housing affordability is determined more by ability to borrow. If you have a good steady job and a decent credit history, you just borrow and buy, when it makes sense as opposed to renting.
The difference is subtle but increasingly it seems to me that housing affordability is a product more influenced by credit availability and interest rate.the down payment ofcourse is affected by the price but 10pct of 300k and 500k is not a showstopper!
Re: Return of the Sharif's
But things are expensive.. I have not been there in ages too but have been told so by folks I speak with almost every month or so. sabun, cheeni, meat etc. are expensive.. maybe things are expensive in rural punjab.. I donno.. You said you are from Karachi.. right? I work for a Pizza place here as the delivery boy and I have been told Pizza is expensive in Pakistan even you convert dollars to rupees..
Wouldn't be the first time that the relatives "back home" complained about rising prices in order to squeeze a little more out of those working overseas. When we were there last year everyone was complaining about the rising cost of living and about how they couldn't afford anything, but they all had brand new furniture, nice cars, and bought a ridiculous amount of clothing on a regular basis. It wasn't apparent that anyone on the family was on a "budget".
But yes - pizza restaurants and other "western" foods were comparitively expensive compared to desi restaurants.
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^ uh oh! Moin is caught by his teacher! On the bench!
Re: Return of the Sharif's
What amana forgot to mention is that she teaches Class 5.