Well well well! Not surprising is it? What went up has come down.
The markets have faltered as a cascading effect from the US sub-prime crisis. Not unexpected if you've been reading your news for the last 7-8 months or so. Bomb blasts, upcoming elections, and anti-Nano andolans have not helped the matter at all..
What would be interesting to see is how this affects the real estate sector. Realty in India has become very expensive in the last 3 years and places like Borivali(my home town) have apartments now running at 8000/- Rs per sq foot! Just for perspective's sake,that was Cuffe Parade(prime South Bombay) 3 years back!
Banks will definitely cut down consumer lending and narrow their risks for the next year at least. And that's why the real estate boom should slow down in coming times....
Its a good time to invest. Now where did I park my last million? ;)
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