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Mar 9, 2010

The Average Man

It is quite surprising. You think of some thing to write, you start and then you plan to come back as more thoughts come. You stop, take a break for a day, and before you know it, a couple of weeks pass out. Not becuase you planned it, for me, it is simply, will do it tomorrow. However when you come back, it is like you never stopped.

I was discussing a topic on cost of living recently, some people local, some recently moved in.. and the consensus was quite mixed. Of course, people coming from Bombay, stated that living costs were exorbitant back home, people here claimed that Dubai was unthinkable.

Bombay over the years has no doubt grown massively expensive. Demand and supply? Shortages? Real increase? No one really knows in my view. But the fact is that no matter what happens, the price is absorbed by the common man. The rate of increase in population, and the fact that disposable income has more than increased in the last 10 - 15 years, simply ensures that people will continue to spend.

More so, as every one wants to lead a good life, be seen in fancy restaurants, drive a car, have an apartment in a posh building, costs are bound to increase. Of course, as people get used to this kind of living, it becomes very difficult to ensure that the alternate source of income is a continuing trend and there are no hiccups to this.

Similar to Dubai, where I live. Costs have increased, two. Of course the main reason was the artificial inflation on the property market, second the view that anything any country did, we can do better. Good attiture, wrong approach. Rents are still sky rocketing, normal utilities have become more expensive, indirect taxation is simply at its best. People who are earning well, continue to earn well and ofcourse will continue to spend

But where does that leave the average man? There are still people who earn a lot less and living costs are a nightmare. People commit suicide on a regular basis, because they have expanded beyond their means. Current costs cannot be met, cannot be decreaased, and financial liabilities are on the rise. There are a lot of people, all around, who still face difficulties in making ends meet.

How does he survive, how does he live? Would he ever be in a situation where he can move to a better apartment in the Middle East or for that matter, back home when he goes. Would his savings suffice when he goes back home? Can he buy a house? Can he send his kids to the posh school that he dreame of?

What is indeed surprising is that Malls, Restaurants are all full throught the day, often making you wonder, is there really a bad time? Should people stop enjoying a good life when can? Of course, if no one spends, how does the economy grow?

A two sided coin, it indeed is

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