==>> Real Estate Facts, Gold still shinning, but will that glitter last????

In the morning i was going through a most selling Business news paper. In the extra supplement of that news paper, there were many news about the real estate sector and the decling Bank interest. The news said, inspite of declining Bank Interest there are no buyers in the markets. The home prices have fallen down. The fact is actually not the same. Yes the Bank interest have fallen down, but the new home prices have not been reduced, or not fallen down as it should been. News in the market have been that the prices have fallen nearly 40% in Bandra(mumbai). I really dont think so. The homes at Worli(Mum) have fallen nearly 50-40%. The fall in home rates in Worli have been compared with the Last months sale of Big bull Mr. Harshar Mehtas flat in worli. The house contains 8 inter connected flats on the 3rd floor and the 4th floor. A buyer can either buy all five or all three flats on a particular floor, or both. That was the reason the flat have not been sold for so many years. The reduction in the prices helped rope some buyers. But the thing does not remain the same with the rest of the developers in the nearby locations. It is so stupid to compare one flat price with the whole area. Be REALISTIC.....
To my perosnal experiecne, In 2007 mid have visited a developer near Goregaon(Mum), in Gokuldham , name Mantri Properties. The price per square feet at that time was Rs 4300 /-. just to see weather the prices have really come down, I visited the same palce again. It was very suprisingly to know the prices have not at all fallen down, instead, the prices have gone up to........ Rs.5900/- with no extra facilities. Same was the came i witnessed when approached to the other developers. So to my persoanl experience the prices still have not yet come off. The only thing is that there are no buyers in the market and the sellers are not ready to sell the homes at lower prices. There are very few places where the prices have come off. The investors who have taken homes for the investment purpose are stucked. The person who have taken homes for short term investment and on loan are willing to sell the flats at marginal loss. Job security in the current scenario also have lead to low demand by the mid class population. This is not only the case in Mumbai only. The case remains the same in whole of India. The prices will further fall in the current scenario. Buyers will not show their faces to the developers till the time the prices are at a significant fair values, inspite of falling Bank rates.
Gold prices have rallied from Rs.8000/- to 15000/- per 10 gram. Investors were cautious to invest right from the Rs.10,000/- levels. At the current price also there are hardly any buyers in the markets. India begin the largest consumer of gold, still the imports have fallen down by around 89% in Dec, and 91% in Jan 2009. and suprisingly in the month of Feb it is fallen down to zero levels and so far in the month of March also there are no imports of Gold in India. Depreciation in the Rupee against the dollar have also lead to low or no import of gold in India. Gold sales in Dubai have fallen by 60% and Abu Dhabi by 70% in Jan and Feb. The low demand, falling sales and over pricing of gold will definately lead to correction in the prices.