Although this seems to be the favorite topic of everybody who wants to talk about the economy, I can report that I’ve experienced it first hand. My friends and I are on the lookout for a bigger flat so that we can move from the cramped one we’re staying in right now. We’re looking for places near Gachibowli. And, we haven’t been able to find any good ones yet. That’s a sure sign of the recession right there – an year back, I’d have been saying – We haven’t been able to find any. There are quite a few houses vacant, and some have been vacant for a couple or more months too. Also, the rents have come down by about 20-25% too. I went to see a 3bhk flat in Hitec City which a friend had tipped me about, and the rent asked for it was Rs. 10k + 1k (maintenance), which is ridiculously low compared to prices a little while back. This flat was being rented for 15k earlier it seems. I’ve also heard from many friends about them renegotiating rents with the landlords. Well, the recession sure is here.