Any reason why South Asian (Indian) populating growingly rapidly in Cary/Morrisville ? (houses, layoffs)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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I went to few new construction homes and 80-90% houses are being bought by Indians (South Asians). I was quite aurprised and does anyone know why that population is growing in Morrisville / Cary ? I believe most of them work IT jobs.
I am a bit worried about IT jobs and how sustainable it’s in the triangle ? Except for few big companies there are mostly smaller companies in the area.. I wonder what will happen to the housing market in this area if the IT jobs were to slow down a bit
A good portion of Morrisville and parts of West Cary are notoriously heavily South Asian. It's not just here in the Triangle, there were tons of South Asians and Asians up north where we came from. Lots of people of all races/cultures are moving here. Lots of people moving here are creating jobs - I think the economy and housing market are safe long term
I am a bit worried about IT jobs and how sustainable it’s in the triangle ? Except for few big companies there are mostly smaller companies in the area.. I wonder what will happen to the housing market in this area if the IT jobs were to slow down a bit
I can't really comment on South Asians buying homes. But two points:
1 - I've worked in IT for 20 years. I can recall 12-18 months of a slowdown around 2007. That's it. The other 19 years have seen fantastic growth and opportunities. Sure, particular companies come and go as new technologies redefine the tech landscape. But the overall net impact is more people working in IT.
2 - If there are mostly smaller IT companies in the area, then the risk of a slowdown is actually much smaller than if there were a handful of tech giants. If a mega IT corporation struggles, hundreds or thousands of employees are impacted. But if a 50 employee company struggles, the impact to the community is much less.
Aside from jobs, I can tell you, from having worked with a bunch of South Asian Indian ladies, they like bigger homes. The reason for that is when their family comes to visit from India they stay for a good month because the trip is so long. If the family relocates, they prefer to live together. Indians also do a lot of home cooking and are not into the western fast food diet. Second, the small plots appeal - not into yard work. And yes, there are a couple of temples in the area for worship. Finally, they want the top rated schools, end of story.
I can't really comment on South Asians buying homes. But two points:
1 - I've worked in IT for 20 years. I can recall 12-18 months of a slowdown around 2007. That's it. The other 19 years have seen fantastic growth and opportunities. Sure, particular companies come and go as new technologies redefine the tech landscape. But the overall net impact is more people working in IT.
2 - If there are mostly smaller IT companies in the area, then the risk of a slowdown is actually much smaller than if there were a handful of tech giants. If a mega IT corporation struggles, hundreds or thousands of employees are impacted. But if a 50 employee company struggles, the impact to the community is much less.
I’ve been in tech a good decade longer and remember a lot of tough times. IBM having layoffs for the first time during the GHW Bush years. The dotcom bubble bursting. Giants like Nortel and others collapsing. Tech has ups and downs just like the rest of the economy.
As for #2, it’s funny the OP says this, because for many years, the big knock about the Triangle tech landscape is that it depended so heavily on a small handful of large players (IBM, Cisco, Nortel, etc.) and when one of those took a hit, it was really tough on the area. There definitely seems to be a more robust scene now, but it still relies a lot on the big players.
I also moved from North but there were a good mix of people , Indiana, Chinese , Filipinos etc... but over here it’s different , it’s 90% Indians, I don’t see much Chinese population... not sure if that’s good.
I also moved from North but there were a good mix of people , Indiana, Chinese , Filipinos etc... but over here it’s different , it’s 90% Indians, I don’t see much Chinese population... not sure if that’s good.
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