Ghar one da

Low cost housing seems to be the new flavour of the season on B-street. Everyone from HDFC (the mai baap of mortgage) to Janaagraha’s Ramnathan (new babe in the woods) seems to have been bitten by this new bug. What makes it interesting? Realty market might have sunk & while the builders are out to reprice & rebudget the homes in the affordable mid bracket range , some smart Alecs have figured out that there is huge market for the Aam janta who may be subprime but are certainly credit worthy. The mobile broke the barrier initially and then the Nano did it with the car so why not affordable housing? The neighbourhood chaiwalla, dhobiwalla, electrician, plumber et al., can all now look forward to their gharonda. But it is intriguing in that regular retail asset products like Two wheeler loans, small ticket Personals loans etc which in some ways targeted such profiles have suddenly fallen by the way side due to rising defaults & falling yields.