Hi wiseman. That's a wise post from you.
Yes, the doles given by the UK, US govts have given the "mirinda" effect (zor ka jhatka dheere se lage) (En: the heavy blow feels light). However, the basic causes of the crises have not been dealt with yet. To make matters worse, while the common investors are still being punished, the big culprits are being bailed out by their govts.
I also agree that this can (don't know if it will) have a really bad impact on our IT for well over a year. Although some projects are coming in now, it doesn't take long to face a change of situation.
In all this, I feel the last time, RE builders and investors were lucky because they could hold on to their unrealistic prices. Having absolutely no regulation in the industry helped, of course.
The next time, they may not be lucky and will be forced to reduce prices. There will be positive and negative fallouts of that, I'm sure. People who have bought or invested in a home will be disappointed. Future buyers may be happier.
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