<b>T N Ninan: </b>The third balance sheet

Apart from banks and companies, the economy has to deal with HNIs ruing their realty investments

The economy has been struggling with a twin balance sheet problem these last few years, that of banks and of companies. What observers have not explicitly recognised is the third set of balance sheets that are also weighed down — those of high-net worth individuals, many of whom have invested in real estate and lived to regret it as building projects have remained half-built, and/or as prices of finished properties have continued to slide to a level where they are now 25 per cent or more below their peak. In South Delhi, the price dip from the peak is more