Its just amazing to watch - this woman’s mom, grandmom, aunts, uncles were all peasants or did odd trades. Now because of a single generation, the entire family could dream of middle class dignity.
For example, in Mumbai average people barely find more than few sq ft to live in whereas families like Godrej control land worth approx 10 b $ in the city itself. Moreover the Godrej family do not want the entire land to be used for development per se and are unwilling to part with some of it for developmental infrastructure projects. The moral of the story is that it is the same (if not worse) as any other country.
The rental yield on houses in India can be as low as 2% (source: Personal) which should in theory lead to crash in housing prices, but that is not happening as population in city will constantly increase with rural to urban migration.
[1]: https://superr.in/economy/i-tried-starting-a-manufacturing-u...
However, if history is anything to go by that will stop pretty soon as the hyper upper class solidifies their hold on wealth, appreciating assets, and means of production, and will start to keep larger and larger shares of profit while workers' wages stagnate, and then inflation will start to decrease the purchasing power of those stagnating wages, and the middle class will start to shrink and disappear as it is in America and other "free market" capitalist countries.
I think that is the point they were making.
It is just depends place there is still places where nimbyism does not run rampart. We we paid like 200k€ from our new house.
In which country is a new house 200k Euros?
