Wait & See Posted December 13, 2011 Share Posted December 13, 2011 Had to laugh at the report on the slums of India and how these shacks are now changing hands for large sums of money. An Indian talking head was on talking about how many are finding it hard to get on the property ladder. WTF is the world coming too when the places that people use to live when they were homeless are now the first rung of the ladder and something to aspire to. WTF are we going to get here in the uk. Tent price inflation? You honestly couldn't make this up. The world has lost the plot. Slum price inflation......... Quote Link to comment Share on other sites More sharing options...
madpenguin Posted December 13, 2011 Share Posted December 13, 2011 Had to laugh at the report on the slums of India and how these shacks are now changing hands for large sums of money. An Indian talking head was on talking about how many are finding it hard to get on the property ladder. WTF is the world coming too when the places that people use to live when they were homeless are now the first rung of the ladder and something to aspire to. WTF are we going to get here in the uk. Tent price inflation? You honestly couldn't make this up. The world has lost the plot. Slum price inflation......... Better get in quick, prices are only going to go up! Quote Link to comment Share on other sites More sharing options...
SpewLabour Posted December 13, 2011 Share Posted December 13, 2011 Better get in quick, prices are only going to go up! Plenty of BTL opportunity... build a portfolio! Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted December 13, 2011 Share Posted December 13, 2011 Had to laugh at the report on the slums of India and how these shacks are now changing hands for large sums of money. An Indian talking head was on talking about how many are finding it hard to get on the property ladder. WTF is the world coming too when the places that people use to live when they were homeless are now the first rung of the ladder and something to aspire to. WTF are we going to get here in the uk. Tent price inflation? You honestly couldn't make this up. The world has lost the plot. Slum price inflation......... Always enjoy reading your posts - just like reading mine back lol. Quote Link to comment Share on other sites More sharing options...
SleepyHead Posted December 13, 2011 Share Posted December 13, 2011 (edited) Video report here on SkyNews. Slum Dwellers Priced Out As Shacks Hit £50k http://news.sky.com/home/world-news/article/16128969 Edited December 13, 2011 by sleeping dog Quote Link to comment Share on other sites More sharing options...
madpenguin Posted December 13, 2011 Share Posted December 13, 2011 Video report here on SkyNews. Slum Dwellers Priced Out As Shacks Hit £50k http://news.sky.com/...rticle/16128969 Absolutely unbelievable, I knew they were suffering from wage inflation in Mumbai due to the number of tech companies sited there but a price spiral on slums like that, amazing. Just goes to show a large sudden influx of money into an economy always seems to produce weird results, reminded me of the converted public toilets and garages we've seen in the UK over the years Quote Link to comment Share on other sites More sharing options...
skomer Posted December 13, 2011 Share Posted December 13, 2011 I would imagine there are some slums that are right next door to exclusive areas of Mumbai so ideal for a spot of social cleansing , and gentrification Similar has happened in London & Paris in the past.... Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted December 13, 2011 Share Posted December 13, 2011 Interestingly last night BBC Asia report was reporting how engineering graduates in one province , get this, cut coconuts, cos that work is better paid than any of the engineering jobs in the area. If they want to work in engineering they have to leave the province or the country. I suppose, seeing as the BRICS have grown so quickly into apparently developed countries, we should not be surprised when they develop our own problems even more swiftly. Quote Link to comment Share on other sites More sharing options...
PopGun Posted December 14, 2011 Share Posted December 14, 2011 Interestingly last night BBC Asia report was reporting how engineering graduates in one province , get this, cut coconuts, cos that work is better paid than any of the engineering jobs in the area. If they want to work in engineering they have to leave the province or the country. I suppose, seeing as the BRICS have grown so quickly into apparently developed countries, we should not be surprised when they develop our own problems even more swiftly. Oh nothing to do with too many grads being kicked onto the scrap heap then?! What a load of crap. I bet you were one of those 1980s dinner party bores, who insisted that we'd all be working for Toshiba or Toyota by now?! Quote Link to comment Share on other sites More sharing options...
madpenguin Posted December 14, 2011 Share Posted December 14, 2011 Oh nothing to do with too many grads being kicked onto the scrap heap then?! What a load of crap. I bet you were one of those 1980s dinner party bores, who insisted that we'd all be working for Toshiba or Toyota by now?! That's the reason I take all the BRIC "Asian Tiger" crap with a pinch of salt, we've been here before, can still remember Thatcher's government holding up Japan as a beacon of prosperity and good business practice. We know better now, commercial property debt pyramid more like. Quote Link to comment Share on other sites More sharing options...
bomberbrown Posted December 14, 2011 Share Posted December 14, 2011 "Keep up at the back,". http://www.housepricecrash.co.uk/forum/index.php?showtopic=172971 Quote Link to comment Share on other sites More sharing options...
billybong Posted December 14, 2011 Share Posted December 14, 2011 (edited) But as Mumbai expanded it now enjoys a prime centrally-located position. That's the shanty town slums - so somehow it sounds like the shanty town won't be there for long. Who owns the land? Apparently the urban poverty line is about 10,000 rupees per year (it's difficult to find accurate/upto date figures) so that's about £120 per year. Assuming the people living in the slums are on the poverty line (fair assumption?) Mumbai slum "property" house price/income ratio is about 420. Way to go London. Of course they might be renting but in that case and on those figures the Mumbai slum landlord can't be getting much of a rental return on capital. Likely the £50,000 price estimate is based on the tenant/owner to move elsewhere price? I suppose even the Indian shanty town slum occupiers/owners must have property rights now. When they were first built I imagine they didn't need rights because only the occupier/builder would ever want to live there. Edited December 14, 2011 by billybong Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted December 16, 2011 Share Posted December 16, 2011 I would imagine there are some slums that are right next door to exclusive areas of Mumbai so ideal for a spot of social cleansing , and gentrification Similar has happened in London & Paris in the past.... Dharavi, the largest slum in the world. Just down the road from the most expensive house in the world. The Mumbai shanty town featured in the film Slumdog Millionaire offers a better model than does western architecture for ways to house a booming urban population in the developing world, Prince Charles said yesterday http://www.guardian.co.uk/artanddesign/2009/feb/06/prince-charles-slum-comments Quote Link to comment Share on other sites More sharing options...
Saberu Posted December 18, 2011 Share Posted December 18, 2011 the Indian government are taking a leaf out of the British government's history book. We had the Land Enclosure acts to force people off their own land and I imagine similar is going on in India. So whereas before you were free to build a new shack now the government are making it illegal hence existing shacks will rocket in price. The solution is obviously to live in the countryside. Though I think the best way to get one over on the government is to buy a large minibus and convert it into a smart caravan like one of the HPC posters (called Rob something) posted about a while back. I'd love to use the minibus solution in a really expensive city like Tokyo. You could live right in the centre where it costs like a million pounds to buy your own place. Probably possible to live comfortably on 1000 pounds/ month in Tokyo using that kind of solution. Whereas most people you speak to would say 3000/ month is a minimum in that city. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted December 18, 2011 Share Posted December 18, 2011 Had to laugh at the report on the slums of India and how these shacks are now changing hands for large sums of money. An Indian talking head was on talking about how many are finding it hard to get on the property ladder. WTF is the world coming too when the places that people use to live when they were homeless are now the first rung of the ladder and something to aspire to. WTF are we going to get here in the uk. Tent price inflation? You honestly couldn't make this up. The world has lost the plot. Slum price inflation......... We're way ahead of them. Around here, far and away the nicest places on the market[1] are the tiny cottages built in about 1840 by the Duke of Bedford for his workers. Unfortunately there don't appear to be any of the core duke-of-Bedfords on the market right now, but Here's an outlying example. [1] until you reach millionaire prices. Quote Link to comment Share on other sites More sharing options...
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