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In the doom and gloom of today's economic and property market news, it's easy to loose sight of the fact that there remain the really wealthy for whom money is no object. Couple that with the softening in prices, and you have the potential for a mini boost in high-end sales. Whether or not you represent this high-market, it's fun to image if a client walked into your office today ready to spend. Where would you suggest? Monte Carlo is off the charts at $47,578 per sq. m. More reasonably, Moscow and London are just over $20K per sq. m. New York City is the only U.S. city on in the top ten at $14,898 per sq. m., making Mumbai a relative bargain in the #10 spot at $9,163 per sq. m.
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This article and subsequent discussion took place at Langar Hall. Co-Blogged By Camille and Phulkari Underneath the surface of this narrative, a salient aspect of this conversation is rooted in the unique ways that predatory lenders sought borrowers with very little financial training. I live in Connecticut, where nearly 2/3 of the properties facing foreclosure were refinancesof pre-existing mortgages. Even more jarring is how the lack of understanding around lending terminology impacts the upward mobility of both working poor and immigrant communities. For folks who had made enough money to buy into a higher tax bracket or economic class, subprime mortgages seemed to deliver on that promise of a nice house in a nice neighborhood. The Silent Victims: Californias Punjabi Sikh Communities
Within the context of the Punjabi immigrant community, wealth/asset management in the U.S. can be daunting. Regulatory frameworks and highly complex financial/capital markets make simple concepts difficult to navigate, especially in states with strong lender legislation. Paired with the challenges that immigrant communities face around banking and language access, a quiet and growing number of working-class Punjabis in California are falling victim to the wave of home foreclosures. |
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Real Estate 
