US ratings agency out with a report 25 Jan
- expect home sales to fall in 2017
- expects property sales in India to fall by at least 20-30% in 2017
- decline in prices due to significant weakness in Q4 2016
- worst of 2017 downturn likely to occur in H1
- homebuilders already have high levels of unsold inventory and likely to cut prices as demand weakens
Modi's cash restrictions playing out here perhaps too in this cash-driven economy.
