Would you welcome it as a good source of cheap money to finance the infrastructure investments that India badly needs? DS: India needs to raise its investment by a quantum step if it has to realize its aspiration of a double digit growth. We certainly need to augment our domestic resources with foreign savings.
Nor has migration declined more in areas where workers are more likely to have underwater mortgages because of particularly large declines in housing prices. A second factor, the one most often cited in support of the structural unemployment hypothesis, is skills mismatch.