Ahirman said: "RE prices has never gone down in India and never will!
To that I say, Ahirman, you must be a really young chap!
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Wisdom comes with age and experience (and also the willingness to listen when other more experienced people speak and learn from historical data).
If only you did a little study before you came out with those golden words, you will realise that as recently as 1995-98 RE in some parts of the country went down upto 80%!!!!! And that was mainly in the only IT boomtown in India those days - Bangalore! And there was not even the hint of a global crisis to trigger that one.
I hold the opinion that this time also RE prices will go down by as much as 80%. But alas, this time it may happen in many, many cities and even towns as these very same places have shown this huge bubble in the last 4-5 years.
Ahirman,
NEVER say NEVER,
UNLESS you are SURE!!!
cheers