Facebook campaign in Israel helped to reduce the price of cheese

Egyptians used facebook and twitter to oust their president. Israelis used facebook page to achieve something unthinkable – they made Tnuva Food Industries, the Israeli dairy company that controls 70% of the cottage cheese market in Israel, to reduce the price of cottage cheese. The Facebook page was launched by Yitzhak Elrov. He asked people to boycott cottage cheese until the prices come down. Satyagraha at work in Israel! In a matter of days, 70,000 people joined the facebook page and the page was growing by 2,000 people per hour. Sales of cottage cheese dropped between 20% and 25% during…

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FDI in India doubled

Foreign direct investments (FDI) in India more than doubled from $2.21 billion in May 2010 to $4.66 billion in May 2011. There was a dramatic increase of 77% in FDI from April to May this year. More details are here. Sure, it’s a good sign for Indian economy. Unfortunately, this is also sign that real estate prices in India are not going to come down any time soon. FDIs and local real estate brokers hiked the real estate prices in the last 10 years. It appears that the trend is going to continue for the foreseeable future.

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Australian couple lost home via Facebook

When a notice is served from court, some loan defaulters hide in some places and don’t accept the notice. In the Facebook era, that doesn’t work anymore. A lending institution in Australia loaned the couple in Canberra more than A$100,000 ($122,000). The couple defaulted on the loan, bank couldn’t locate them in the last known residence. Bank’s lawyer obtained a default judgment in the couple’s absence and was able to convince the court to serve it via Facebook. More on this story is here.

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Falling Companies

Global economy crisis takes another toll. Eyespot Corporation closed its doors. They provide video uploading facility for Digital Bhoomi users. Now, we have to look for another video hosting company that can host our users’ videos of their real estate properties. You can still continue to upload your videos to YouTube and provide the link when you list your real estate property. If you want to post your real estate listings, please click here and select the city and post your ad. It’s simple, fast and very effective.

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Fall in Bangalore office space demand by 61 percent

Indian real estate boom is getting busted. India is not detached from global economy. Global economic slowdown is now causing loosing demand for office space in Bangalore. The major portion of the office space in Bangalore is occupied by the IT companies. With the companies have been forcing to review their plans to beat the slowdown, the land absorption by the companies is also coming down. This affects the real estate market of Bangalore and many other cities in India. According to a report by Cushman & Wakefield, a property management consultant firm, the demand for office space in Bangalore…

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Houses don’t sell even with FREE CAR!

It looks like housing prices finally start to come down drastically in U.S. For past two years, U.S. was facing housing and sub-prime crisis. Many house owners were reluctant to reduce the home price thinking that some kind of reversal would come up. Many sellers finally realize the extent of the damage done by sub-prime crisis and started to reduce the price. It may be too late, because everyone has the same idea now. Mark and Elaine Hendricks recently offered their 2000 Mustang convertible as a freebie to anyone who would buy their Woodbridge house, but even that failed to…

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Slowdown in Bangalore Real Estate Market

The number of unoccupied apartments in and around the city is expected to touch nearly one lakh by April, reports The Hindu. Citing the outcome of an “informal survey,” Inspector-General of Registration and Commissioner of Stamps H. Shashidhar said that these indeed were the current market trends. He also said that the figure included both old and new apartments – those that had not been sold, those that had not been rented out and those now under construction. Shashidhar said that registrations of property in the State had reduced by 45 to 50 percent, partially due to the ban on…

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One more Real Estate Fund

It looks like foreigners won’t leave the Indian real estate market alone, until it also collapses. Global real estate fund Millennium Spire said it would invest $1 billion across the country. The fund plans to invest in South India with Coimbatore as the key focus. The fund has a target ROI of 25%+ per year. This magic number pulls in lot of crowd to India, time will tell how long the party would last. Source: VC Circle

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FBI Launches Sub-prime Probe

U.S. economy is shaken by greedy banks that gambled on housing loans to credit-risk customers. Just as expected, government is launching efforts to punish the people that caused huge damage to the economy. FBI officially launched the probe to investigate the fraud in connection with subprime loans. It is investigating 14 companies for possible accounting fraud, insider trading, etc., When all these end, we can see few more court dramas just like what we have seen in Enron and $6000 curtain cases. Related Link: FBI probes 14 companies

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RBI to Restrict Real Estate Venture Funds

In a wise move, RBI has decided to put on hold approvals for about 30 foreign venture capital funds that want to invest in the real estate sector. Indian real estate is a bubble. We wrote about that many times. However, it doesn’t look like this bubble will end anytime soon, unless Indian stock market collapses because of recession in U.S. By looking at the measures taken by U.S. Fed, it appears that U.S. recession will be mild and short-lived. Indian government is trying to slow down the capital inflow to the red-hot Indian real estate market. Although it’s too…

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