Home owners are still delusional
I recently saw a post in our locality group in Bangalore for a house of 2400sft at 40,000rs per sft. I mean, this even an area with billionaires living there like Lavelle road or koramangala 3rd block and yet prices are so high. If someone is a billionaire, he sure isn't buying just 2000 sft or in a area where common people like us live. If someone is a commoner, he sure isn't paying this high as with highly uncertain futures & high layoffs, nobody has this kind of money and even if someone has that kind of money, they'll buy a highly elite villa with that money at a much cheaper rate.
So, only people who can afford to buy this kind of place are with black money, who will not able to offload it for next few years at the minimum to atleast the white money people. So, it might only be sold to black money people & further bought by another black money guy. That's also a very faint possibility.
So, are home-owners so delusional?