Posted by: hakim_saab March 15, 2012
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America is different from Nepal. In Nepal there is a direct relationship between demand and supply. We are an overpopulated country, ;half the country is not suitable for human habitat. Therefore land has a lot more intrinsic value than in America. Have you ever heard of a housing collapse in India? Exactly my point.
Another point, in Nepali culture wealth is measured by the amount of land you own, which is not the case in the West. Even Mitt Romney only has three houses. Also, the only safe place invest money in Nepal is land, everything else has been ruined by political unions and the Maobaddies. Remittance is up by 37 percent this year alone, if this trend continues for a couple more years then bank interest rates will start falling due to excess credit and housing will boom again. The 2008 financial crisis is not relatable in Nepal's case since the ownership of land is the greatest symbol of prosperity in Nepali society.
Another point, in Nepali culture wealth is measured by the amount of land you own, which is not the case in the West. Even Mitt Romney only has three houses. Also, the only safe place invest money in Nepal is land, everything else has been ruined by political unions and the Maobaddies. Remittance is up by 37 percent this year alone, if this trend continues for a couple more years then bank interest rates will start falling due to excess credit and housing will boom again. The 2008 financial crisis is not relatable in Nepal's case since the ownership of land is the greatest symbol of prosperity in Nepali society.