US Economy Hit on Real Estate

[nagsbhat]

I have been observing RE since 2000. The price rise and how fast the price rises is dependendt on the economy and development. Any area - however far it is - if developed more than 80% demands Rs 4000 - Rs 5000 per square feet for a BDA/BDA approved layouts.
For any place outskirts within BDA limits price rise stops and price remains stable until economy comes up. I was watching SMVL prices and found that during early 2009 till late 2010 price was between 1300-1800/- dependending on the location. Starting 2011 the price picked upto 1800/- 2400/-.
One more thing is sellers selling due to strain. Mostly sites that are selling under value will never come to public, will be sold in the family circle. Recently I am looking for a site in ISRO layout. I have kept all the brokers aware and also have posted in this forum. I heard from one agent that there was a site sold last week at 5000/- per sft within the family circle.
One good thing is if the economy is not booming you might get choices and time to make a decision. Take a bet!