Monday, June 05, 2006

Bombay property bull run over too

Along with the end of the Bombay Stock bull run (now a bear hug), property prices have stablized and infact they seem to be ready to move down.

Had to happen. Property went up between 30% & 80% June to Feb. What were people thinking? This is gonna sustain. Just shows how underexposed Indians are to market forces.

Anyway, the situation now is that prices have frozen at their peaks and very few transactions are happening. Let see how much longer sellers can hold on. Interest rates up at 8.5% dosen't help anyone, so it looks like we're at the start of a bear market.

Good time to sell if you find a buyer, but don't count on it!

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