Does anyone really believe that the Home prices in India have bottom ...No way
I was not commenting on the share price of IBN. Even to me it looks like dirt cheap. One look at the chart will say that. I think the share price of IBN is related to all round mess and not reflecting the realities. But saying so I will not put my money in IBN for a few more weeks till I see it reaching back to 15. I would rather ride from 15 to 22 than 11 to 22. But thats just me. Regading the real estate is gold in India. i think you need to shed that concept. That was in the olden days when the prices used to climb steadily. Now there is a disproportianate rise between the realty prices and the income levels. Much more than what happened in the US. In the US the rise was just 100-125% in home values in 5 years. In India look at the prices that went up in the same 5 years. 300%-600% and even more in some cases. This was caused in part by real income rises due to IT incomes and high paying jobs. But the 70% people in India are still earning less than $100 per month. 15% make between $100-$500 per month. The genuine buyers have all bought or will buy but most of the people are speculators. But that is true in all markets when people see their neighbors making money they also follow as a herd, then comes the pulling the rug under the feet and bite the dust.