According to Goldman Sachs economist Jan Hatzius the number of unsold homes on the U.S. market is so large that prices could easily fall by an additional 20 percent to 25 percent by mid-2010. Half of the foreclosures in the U.S. in 2008 took place in four key states: California, Florida, Nevada, and Arizona. Other foreclosure hotbeds include Washington D.C., Detroit, Cleveland, and Minneapolis.
More on U.S. Real Estate Prices to Fall an Additional 25% by 2010
Mumbai seems to be on a business expansion spree. Lately, various big names have announced about their plans to diversify and branch out. Most recent among them is the Mumbai-based real estate developer Nirmal Lifestyle. Nirmal Lifestyle will be inviting leading Indian and international institutions like ICICI Venture, HDFC Realty, Goldman Sachs, Lehman Brothers and Deutsche Bank to buy a stake in its property projects.
