A nice speech by RBI Dep Gov HR Khan on the topic.
He covers a fair bit of data and connects the dots on an area which is extremely important but much is unknown. We hardly have any reliable data to track developments in the housing sector.
But then unless someone talks officially about the huge shadow/black economy in housing, we are just focusing on one part of the problem. I mean it is so ridiculous that even if someone has the money he cannot really buy a house in most parts of the country without paying black money. Our government keeps talking about making efforts to brings all black money invested abroad. Why not do something to address a problem which is so rampant in your own shores?
