Home A-loan

The timing is impeccable. I find myself in the market for a home loan just when all the banks are shying away from offering them. While everyone I know, and his dog (come to think of it – sometimes its hard to tell which of the two is the dog!) has made a killing on real estate, be it in Dubai or Mumbai or any place else – I am being systematically killed for not investing in real estate thus far. By whom? Well by my landlord for sure, and he has now been joined in his gleeful endeavor by my own wife.

“People younger than you own more than one home – and you are sitting on the fence – as you have been – for the past 15 years!” Well, with a yawn and a stretch, I have now alighted from the fence. With my luck, someone is going to get onto my spot on that fence when my back is turned – and I won’t even be able to fence-sit on the issue anymore!

Seriously though – do you know if this is the right time to invest in property? I have found that curiously the answer is both YES and NO, depending on whom you ask. Its one of those wishy-washy issues – where even a MAYBE answer is common place. So no matter what you do – there is a lump in your throat.

Now – over in the US and some parts of Europe, banks and home finance companies have taken a beating. I nod intelligently at everyone’s theories on why the dollar is strengthening, oil is dropping, gold is climbing and stock markets everywhere are in turmoil. Everyone seems to know what they are talking about – but most often their theory does not pan out some ways down the track, so – damn it – how does one read into the situation to reduce the lumpiness in his throat?

Tell you what – am going to play this one out as it morphs..if I find a house WE like, then I will look for a loan that I like. If I get it, we’ll buy it, if not I will bye bye it…