Capitalism's growth model just can't scale forever. Profits can't be made forever, Someone will say it can happen, they will even manage to convince some people that growth is forever (most growth you see is camouflaged inflation by the way) so it tends to work against the consumer; but you can only use and abuse resources so far. Then there will be a stagnation, a major correction (home prices drop - which is not such a bad thing)....it might not be soon but you only need to look to the west to learn a few lessons...If you look carefully, Kenya is doing better than her neighbors economically, the abundance of wealth and comfort will slowly begin to injure the qualities that made our nation and people successful,we'll get more ruthless in the pursuit of wealth, exploit the neighboring countries to fuel our growth,mostly personal growth, our neighbors will call us names and avoid doing business with us like it happens with Nigerians.....that said buying a house might be a terrible investment, it all depends, sometimes it does pay to rent, even in the long term..................... JGitau On Mon, Mar 28, 2011 at 7:23 PM, ndungu stephen <ndungustephen@gmail.com> wrote:
Therefore:: It will take 148 years for an average Kenyan to finish paying for a house,, and if he takes a mortgage, 444 years,,
No wonder Vampires are usually that rich !!! (The immortal aspect)
Are we so desperate to avoid paying our landlord rents that we are willing to accept any price the land and property owners set ??
We could be driving the prices up; and its in the interest of the banks lending to keep the values up;
And then there is the "diaspora" aspect, Kenyans out there pouring money into Kenya, driving up property inflation.
_______________________________________________ Skunkworks mailing list Skunkworks@lists.my.co.ke http://lists.my.co.ke/cgi-bin/mailman/listinfo/skunkworks ------------ Skunkworks Rules http://my.co.ke/phpbb/viewtopic.php?f=24&t=94 ------------ Other services @ http://my.co.ke