Market Correction. A phrase that is used indiscriminately by all learned people to talk about stocks, shares, property and all…
Or, more importantly to assuage guilt feelings of ‘having’ and giving gyaan to the ‘not having’ or ‘have nots’ the more popular phrase.
Personally, I believe in the phrase ‘Self Correction’. At a particular age you have surplus money and you have an option of waiting for market correction, in the meantime using the surplus (after of course all your savings & all because you already know all that, right) on gifts, holidays, enjoying life or keep the surplus and use it as a Life changing decision — leave the cushion of the job and go with your passion or do the right thing and invest in an home (sure, you can let that out and make money and all that).
In the past half decade, I am yet to see the market correction which has helped public at large. Some project needed money so they gave a discount, some loan targets had to be achieved so they gave a discount, somebody had surplus money so negotiated a better rate; BUT projects launched at a lower than prevailing market price, with a concentrated effort by Lending institutions, Builders etc. No. Nada. Cannot happen.
There are too many variables and factors, why this cannot happen. The biggest amongst them being ‘Parallel Economy’ or Black Money as more popularly known.
My views on this are well known, and a part of different debate; however the fact also remains, that it does help keep India afloat.
So, here is to people who keep talking about ‘Market Correction’ Keep waiting and if it happens in the next decade or so, come have a drink with me.