Buying property in India
I've made a decision to take some risks with investing and growing my net worth. Based on my losses in the stock market in 2000-2001, and my concerns about a real estate bubble in the US, the logical investment for me is real estate in India.
Why India? Well, I believe India is the destination for any corporation entity looking to cut payroll costs by hiring the best and brightest employees in the global knowledge industry for at least the nex t 20 years.
Real wages have been going up in the tiny percentage of India's population (1.2 million) that get to participate in white collar knowledge businesses like outsourced radiology, legal analysis, financial analysis, software services and BPOs.
The population continues to surge and the big cities, I predict, will, in a decade, be megalopolises, with suburban sprawl and associated services, such as schools, healthcare, financial services, retail springing up within 20 mile radii of Mumbai, Chennai, Bangalore and Kolkata.
Less populous cities like Pune, Jaipur and Hyderabad will boom as well. The trickle-down effect of money creation among over a million people will create a renaissance in many fields, with its associated job creation.
I will buy a piece of property in one of these cities in the next 6 months...
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