Heard, in the late 80s recession, many Deshis became millinaire by buying real estate in southern USA. Texas and Luisiana, where oil refinary is major industrial activity and the economy is largely dependent on it, were badly hit by the oil-price crashes. Many people were laid from their jobs and forced to move to the north. As a result, residential apartments and houses remained unoccupied for a long time turning them to bankrupcies.  At that time, you could easily buy a house or an apartment even if you have a small job and moderate income. Many Deshi and Arabian people rushed towards south to buy land and houses. Most of them are believed to be millinaries now.

The recession, not only hit the USA, but also other countries in the world- USSR being the worst. USSR used to support its allies by the money from oil. With the falling oil prices, it not only lost its influence over WARSA countries, but also witnessed its own economy crumbled leading to the fall of 73-year-old communist empire (remember with the escalating oil prices, Russia is now again spreading its influence).

I believe mortgage should be cheaper with the record high foreclosures, especially in subprime lending, in recent past and Fed's move to revise FED rate downwards. Many mortgage leaders are revealing unprecedented losses in the mortgages. Hopefully some Nepalese who are planning to buy real estate may get some reliefs at least.