Subra debunks the myth that real estate prices can’t fall. I agree with him. Real estate prices have fallen big time in the past, and will continue to when there is a crisis. And there is a crisis going on right now.
Only sellers in Parsvnath, says Moneycontrol.The stock is down 10% at the lower circuit. But then we are at two year lows and looking worse.
Both houses adjourned because the opposition had an uproar on the price rise. This is policy and action paralysis. With over 54 bills that need to be passed, this is stalemate. There is no point having elected reps if they cant have a decent discussion in parliament.
China’s PMI (prelim estimate) came down to 48 from 51 in October. This is preliminary, but a <50 number indicates contraction, which is not very good. In the same article, they show comparative inflation in the BRIC countries:
India’s benchmark wholesale-price inflation was 9.73 percent in October. By comparison, consumer prices rose 7 percent in Brazil, 5.5 percent in China and 7.2 percent in Russia in the same month.
A brilliant Guide To The Eurozone Crisis by Percy Mistry.