17th March 2007 :: “Son, One day this mortage will be yours”

This is a building under constrution next to our building. The price of a house there is about Rs. 6000/ sq ft. This means that a 2 bedroom house with an area of 1000sq. ft. will cost you 6 millions. To buy a house, an average buyer will go to a bank for a loan and would be repaying it for the next 20 years. All this along with the insecurity of his career in a fast paced and ever changing work field. Now you tell, do you own your house or the house owns you. BTW, the title of today's post is not mine, it is stolen from an ad of an Australian Bank (I think Commonwealth Bank).