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- nice synopsis... i hope this is true.. the prices are still crazy... btw. what do you think about mumbai .. everyone says that other states would be more affected versus mumbai .. since the demand is really high and the supply is low.CommentQuote0Flag
- World news getting steadily worse ...
I was hoping that, with Obama coming in there will be radical change in the US and new policies may shorten the duration of the global deflation and contraction that is gradually squeezing the life out of us all like a Giant Anaconda. But based on his first Press Conference he is falling prey to the usual Democratic (Socialistic) line.
He is just re-arranging the policies to reverse the Republican bailing out the rich and shifting it to benefiting the poor and middle-class. Laudable efforts. But it is like the proverbial "shifting the deck chairs on the Titanic". Will have no effect on the final outcome, which might be long-term global depression.
Bombay RE prices may be impacted by the following trends:
1. Being the Financial hub of India, it might see a hit as financial sector worldwide is being hit. So jobs will be lost, salaries cut and this will bring home as well as commercial prices down significantly
2. Though not like NCR, Bangalore, etc, Bombay still has quite a bit of IT/ITES companies. This too will help prices come down significantly
3. The most worrying thing, though is the impact of regionalism and divisive politics on Bombay's reputation as a cosmopolitan city. With the Internet and communication revolution, if people find that they cannot live peacefully, they will simply shift base and take their business elsewhere (like Tatas in Singur). Once people realise that they can setup wherever convenient to them, it will be very hard for Bombay to reverse the tide after a certain critical mass of outflow has been achieved. People will simply realise that life can go on without Bombay too!
To answer your question, Bombay prices are likely to fall in line with the rest of the country - and excuses like shortage of supply will be met with answers like shortage of buyers as well. More the recent rise, greater the fall.