Trump Jr. Plans $1 Billion Fund for India Property Acquisitions
says Bloomberg:
"Real estate prices in India have climbed for five straight years, boosted by a six-year equity market boom and rising incomes.
The rally in property prices may end this year as a falling stock prices and rising interest rates slow sales and make it tougher for smaller developers to borrow money. The 14-stock Bombay Stock Exchange Realty Index has declined 63 percent this year, almost double the 32 percent drop in the benchmark Sensex.
``The pendulum has started shifting back a little bit to the point where prices have started to become a bit more reasonable,'' said Trump. ``It will allow companies such as ours to justify buying land. It's a good opportunity for us.'' "
via Naked Capitalism which also links to another Bloomberg article on emerging economies Emerging-Market Currency Rally Dies as Inflation Hits (Update3):"India's rupee will weaken 8 percent, its worst year in a decade, while the South African rand will lose 22 percent, its worst performance since 2001, the Bloomberg surveys show.
``The shock of higher food and energy costs has exposed the major shortcomings of emerging economies in controlling inflation,'' said Stephen Jen, chief currency strategist at Morgan Stanley in London and a former Federal Reserve economist. ``I'm not sure emerging markets will respond to inflation shocks.'' "
Much more in the two articles.
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1 comment:
Thanks gor the comment and the link. A few years ago, a friend's daughter in New york told me similar things and that she was planning to shift to India to work in real estate.
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