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US Sub prime crisis
by Natesh on Dec 13, 2007 12:42 PM

Now we all know Indian IT companies have almost 70% or more business from US. Most of the IT revenues come from Financial servies and banking. With the US banks recording huge losses and US sub prime market hitting a crisis coupled with dipping dollar value will greatly impact Indian IT companies. HOw can IT firms pay the same salaries or give 30% to 50% hikes with the above mentioned crisis. Most real estate prices were driven by first time buyers (IT professionals). Others by politicians, beuracrats, corrupt govt officials. Working in the IT industry for 5 yrs i know the appraisal fears of the industry. If there are no buyers with the current interest rates the prices will deflty come down in 2008 and stabilize in 2009. Pass on the information and wait until 2009 if u r lookn to buy a house. Media is totally corrupt in India and i can pay money to publish an article in all magizines, portals including rediff. Dont go by what the so called experts in rediff have to say.

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