Due to subprime mortgage and recent huge layoffs in auto industry at US, there are more than 2.4 million houses on the market (second highest house availability on the market after WWII). Guru's anticipates that the worst is not seen yet - in 2009, more layoffs are excepted, which will lead to more foreclosure properties. It is also directly related to US dollar value.
Having said that, countries which are dependent on U.S. may see the pinch. All these, may effect Indian housing bloom to get more corrections.
