MORE WORDS OF WISDOM
July 16, 2012 1 Comment
Dandelion Award
July 16, 2012 11 Comments
Today I am honoured to receive the Dandelion Award from Alex Jones of The Liberated Way .Here’s the link to know more about the award.
Here is the citation that goes with this award :
The sixth ever Dandelion Award goes to Wealthymatters.
The Dandelion Award is awarded to one blog each Sunday by Liberated Way that meets five qualities. There are no obligations on the part of the winner of the Dandelion Award, it recognises those blogs worth visiting, and the award image can be displayed on their blog if they wish to do so. Read more of this post
Community Land Trust
July 16, 2012 Leave a comment
The concept of Community Land Trust (CLT) is something interesting I came across today.
In CLTs, a not-for-profit organisation builds houses on subsidized land and gives them at a price much below the prevailing market rate. The condition is that when the buyer resells the apartment, the price has to be below the market rate prevailing then. This ensures that the subsidies are passed on to the subsequent buyers and the prices are kept at affordable levels for a longer period.
This model can be tweaked to suit local conditions. The State governments can sell or allocate land to cooperatives at subsidised prices to build affordable housing on CLT model.
This model has been successfully adopted in many cities across the world. For example, in Cooper Square land trust project in Manhattan,(pic above), the rentals are below 30 per cent of the tenant’s monthly income, while in the surrounding area people spend 50 per cent of their salary on rent.
Affordable Housing Defined
July 16, 2012 1 Comment
The Government of India defines affordability as follows:
For lower income group, apartment should not exceed four times the household gross annual income. For the middle-income group, the prices should not exceed five times the gross annual income.
Similarly, the rent should not exceed 30 per cent of the monthly salary for the lower income group. For the middle income, it should not exceed 40 per cent.
In other words, for a middle-income family, which earns Rs. 30,000 a month, any apartment costing more than Rs.18 lakh is unaffordable.For the poor who earn about Rs.10, 000 a month, apartments priced more than Rs. 5 lakh is unaffordable.
This is something to think about when investing in real-estate.
Carpe Diem
July 16, 2012 1 Comment
Carpe diem quam minimum credula postero – “Seize the Day, putting as little trust as possible in the future” – Horace
Ode I-XI “Carpe Diem”
-Quintus Horatius Flaccus
Tu ne quaesieris—scire nefas—quem mihi, quem tibi
finem di dederint, Leuconoë, nec Babylonios
temptaris numeros. ut melius, quicquid erit, pati!
seu plures hiemes, seu tribuit Iuppiter ultimam,
quae nunc oppositis debilitat pumicibus mare
Tyrhenum. Sapias, vina liques, et spatio brevi
spem longam reseces. dum loquimur, fugerit invida
aetas: carpe diem, quam minimum credula postero.
Translation:
Ask not—we cannot know—what end the gods have set for you, for me;nor attempt the Babylonian reckonings Leuconoë. How much better to endure whatever comes, whether Jupiter grants us additional winters or whether this is our last, which now wears out the Tuscan Sea upon the barrier of the cliffs! Be wise, strain the wine; and since life is brief, prune back far-reaching hopes! Even while we speak, envious time has passed: pluck the day, putting as little trust as possible in tomorrow!
wealthymatters 