As I was doing my morning real estate industry reading today I came across an article entitled “Shardh May Burn Rs 500-700 Crore Hole in Market”. The article went on to explain that during the Shradh, the two week period preceding the Navrati festival, the real estate market slows down dramatically (~ $100M decline) because the time is thought to be an inauspicious period in the Hindu religious calendar and hence people refrain from buying assets.
http://economictimes.indiatimes.com/Companies/Shradh_may_burn_Rs_500-700_cr_hole_in_mkt/articleshow/3507655.cms
Fascinating stuff, truly. Perhaps herein lies an explanation for the subprime debacle and the market meltdown, the last few years have been an inauspicious period in the financial markets calendar and we have failed to head the warnings. More likely, I think the problem lies in greed, lack of regulation and market manipulation, but that is probably a post for another day and another forum. Btw, thumbs up for Paulsen and the rescue plan. Hang in there fellow Tuckies in the banking (formerly investment banking) sector.
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