Re: Mumbai incident is Zardari's Kargil...
CM,
Buying house has nothing to do with housing or real estate. It is a textile market or in general consumer goods related business entity that acts as an agent for a retailer or a brand in the West and buys wholesale goods manufactured in low-wage countries. Buying houses decide, for instance, where Ralph Lauren will make its next year's trousers or shirts.
Some of my relatives are in the export business and I can tell you that while it has not fully shut down as per yazdi's claims, buying house related activity has come down by more than 60-70% in the last 6-7 years. Some of the business has gone to India and Bangladesh while others have gone to China. Many people have switched for safety and supply chain reliability reasons. Another reason was that between 2002 and 07, we had a real estate bubble that diverted capital into land and no one invested in textile related machinery and associated infrastructure.