The economic slow down had started in early 2008. By Mid 2008, situation worsened. The highly publicized collapse of a string of Financial Institutions in US, brought the fact out into the open…....that the American economy is in bad shape and all dependent countries like India, will be severely affected.
The economy is definitely under tremendous pressure. Business is down
across all segments. Jobs are under threat. There are no short cuts
to solve the problem. No amount of Free Gifts, Interest Rate
Cuts, Price reduction, Advertising etc are going to work in the short
run.
Real Estate is as much part of the economy as any other sector. Unless the country shakes off the impact of slowdown and business and industry flourish, with possibility of job addition and not reduction, we can not expect a turn around. The business/ industry turn around can not be expected to happen, unless US and Europe comes out of recession. So we are in for a long haul, may be an year or more..........