It's Not Just the US

Interesting article from Time.com about India's real estate industry and how badly it is struggling.  They have quite a different real estate cycle, "the period from just before Diwali through March is usually a bonanza for the real estate industry: some 70% of the annual business is conducted then".  In case you were wondering, which I am sure you are, Diwali is "the Indian festival of lights" and begins in two weeks.  Apparently, real estate sales have come to a halt.  Nothing is moving and many realtors are having to take up second jobs to pay the bills.  Definitely a good read to see how this is affecting a country other than ours.

Article: http://www.time.com/time/business/article/0,8599,1851969,00.html