Concentrated wealth, only 3% taxpayers are costing real estate sector dearly
The visit website real estate market in this area has been on a steady climb for a while. New waves of foreclosures have provided targets and opportunities for investors over the past few years. But as illustrated by data from RealEstate Business Intelligence and MRIS, inventories are down and prices are up.
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All these factors are setting the stage for a deep correction in real estate prices. Asset price bubbles have occurred and burst across asset classes, countries and times. Japan witnessed its lost decades on the back of a real estate bust; the US has still not recovered from its subprime mortgage crisis. Build a New Map Indian policymakers need to seriously think about an approach to make housing truly affordable. Both the RBI and government have to collaborate in this. The recent measure by the RBI, to caution banks on 20:80 scheme, is welcome.
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