Those expecting an overnight crash any time soon will be disappointed:
|Over 7 lakh unsold homes in eight major cities including Delhi NCR, Mumbai, Bengaluru, Pune, Kolkata, Chennai, Hyderabad and Ahmedabad|
There are simply too many vested interests in real estate to allow it to slip into panic-led chaos.
Politicians, real-estate developers, banks, NBFCs– all of them have too much at stake.
Then there are hard-working, salaried employees paying EMIs.
This is an industry which reaches a majority of India’s population.
Like Wall Street in the USA, India’s real estate industry is too big to fail.
At worst, it might see a Lehman-like moment.
A few builders will vanish but, as Wall Street figured out, a few casualties – like a Lehman or an AIG – are acceptable collateral damage in the overall scheme of things.
But the Government will cobble together a bail-out of sorts. Builders will be rescued, homes will be saved.
Read more at - Real estate is dead, long live real estate
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