After the demonetisation, a prominent economist tweeted that 19 per cent of India’s employment share contributed by the real estate sector will be jeopardised. It was also reported in late November that housing prices could drop by up to 30 per cent over six to 12 months after the demonetisation, wiping out over Rs 8 lakh crore of the market value of residential properties sold and unsold by developers since 2008.
Such tweets and news items create at least two wrong inferences on the impact of demonetisation on the real estate sector. The first inference is that employment opportunities will
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