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    Question

    Can the selling price rise when a market

    is over-supplied and demand is dull? Economics tells us that it can’t, but the Indian housing market seems to be defying this rule. Earlier this month, the Ministry of Housing flagged off a new index, the NHB Residex, designed to track housing price trends in 50 cities across India. Releasing the data, the Ministry claimed that the n e w index offered proof that demonetisation hadn’t dealt a big blow to the housing market. ___________________. According to lenders’ data compiled by the NHB Residex, as many as 32 of the 50 cities tracked registered rising housing prices and 13 recorded stable trends, in the twelve months to March 2017. Only 5 cities saw declines. In each of the following question a short passage is given with one of the lines in the passage missing and represented by a blank. Select the best out of the five choices given to make the passage complete and coherent (Coherent means logically complete and sound)
    A But this trend of resilient prices sits rather oddly with the tales of woe about the residential market doing the rounds in the last couple of years, which talk of slower sales and a stockpile of unsold homes. Correct Answer Incorrect Answer
    B Large markets also exhibited very positive long-term trends. Correct Answer Incorrect Answer
    C Trends in the Residex certainly support this claim. Correct Answer Incorrect Answer
    D The Residex noted a 44% rise in home prices in Pune. Correct Answer Incorrect Answer
    E The year 2016-17 saw a perfect storm of events come together to dampen demand for housing in India. Correct Answer Incorrect Answer

    Solution

    Can the selling price rise when a market is over-supplied and demand is dull? Economics tells us that it can’t, but the Indian housing market seems to be defying this rule. Earlier this month, the Ministry of Housing flagged off a new index — the NHB Residex — designed to track housing price trends in 50 cities across India. Releasing the data, the Ministry claimed that the new index offered proof that demonetisation hadn’t dealt a big blow to the housing market. Trends in the Residex certainly support this claim. According to lenders’ data compiled by the NHB Residex, as many as 32 of the 50 cities tracked registered rising housing prices and 13 recorded stable trends, in the twelve months to March 2017.

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