Conventional economics says a crash is bad. In reality, however, its a boon. A real estate crash is an economic blessing for billions of people and the country.
Two years back, no one would have imagined that real estate prices could crash by 50 per cent. Today, its a fact. Compared to peak prices of 2008, you can expect a correction by 70 per cent in the coming years. Despite that a lot of properties will be lying vacant as there is a huge oversupply – in India and all over the world.
Many builders and brokers will probably send me hate mails for saying this but the fact remains that a 70 per cent crash is a good time for them to create much more wealth and to tap a large market. This crash is excellent for home buyers, businesses, and the entire economy.
More : ibnlive.in.com
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