This news, if true, is long welcome. Prices of real estate and apartments were unduly escalated because of the extra ordinary buying power of the first time IT professionals. Now with the expected recession in 2008 to hit US economy, the IT segment will be squeezed for profits, as bulk of the projects are outsourced from the US. It will have a good salutary effect on the arti- fically inflated high prices in the real estate sector. This will affect real estate prices in all cities, like Gurgaon, Pune, Bangalore, Chennai etc. where ever IT activity is prominent. It is good for the common man.
