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More residential property in India is better news for everyone. A larger number of residential properties will create more wealth for the entire country and provide stability to house prices claim experts. The governments plan to create affordable housing across the country will not only generate employment but will also add wealth the countries exchequer as affordable properties are paid for by loans taken by the prospective homeowners.
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A movie claimed that a few relatively small time and inexperienced brokers foresaw the Sub Prime Crises of 2007.
One of clues that led such amateur brokers to earn money from the crises was that they realized that individuals with limited incomes has bought five or more homes which they would not be able to pay EMI’s for at their present levels of incomes.
Residential property in India may also be in such a precarious situation as individuals today own upwards of seven or ten properties and earn a modest income.