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Of falling property prices and when to buy a house

October 22, 2008

Lender fear that if big builders start defaulting, the result will be a knockout punch for the lenders.

Rumours that a big real estate firm had defaulted on interest payment has further set the cat among the pigeons.

However, with the Reserve Bank of India slashing key interest rates in the last fortnight in light of the global financial crisis, consumers feel that things might ease for them and they might be able to afford that dream home.

Image: Workers walk through a new housing development the Palm Meadows Villas Complex in Bangalore. | Photograph: Dibyangshu Sarkar/AFP/Getty Images

Also read: History's greatest financial fall: How it began

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