[photopress:realestateindia.jpg,full,alignright]What follows was published in India and it is about the Indian real estate market. This has to be made very clear and emphasized. It is not about China. Not. But there may be some lessons that could be learned:
Real Estate is collapsing from ground up. The mortgage defaults are skyrocketing. Many household who took equity out from home various purposes are paying their massive first, second, third mortgage and line credit interest by borrowing more from their home and personal loans.
The biggest problem lies with the investors who are stuck with ten or twenty homes!
Excessive public and private borrowing is the root cause of deflation out there. The banks have started realizing what they have done.
Source: India Daily