Indian tech workers in the US are experiencing significant job losses and high mortgage rates
40,277 foreclosure filings were recorded across the US that month, a 12.83% increase from Aug 2025, according to ATTOM’s Aug 2026 US Foreclosure Activity Report. Texas recorded 4,961 filings, up 43.46% year-on-year and 8.53% month-on-month. California, another state with a large concentration of Indian tech professionals, recorded 4,450 filings, an 8.33% increase from Aug 2025.
In the current situation, opting foreclosure means booking a loss, as many bought properties when prices peaked after Covid-19. This has been going on for at least three months and might continue until the 2028 presidential election,” said a 45-year-old Hyderabadi living in Dallas, adding that he had heard of five abandoning their houses recently. Telugus in US are drawing parallels with the dotcom bubble of 2000 and the 2008 recession. now, with house prices down by about $1,00,000 to $2,00,000 or even more, many have no option but to leave the country,” said Vishweshwar Reddy Kalavala, president of Global Telangana Association While abandoning cars at airports has been standard practice. “People with even 20 years of experience are losing jobs. “Prices are down by 30%.
Mohan Nannapaneni, ex-president of Telugu Association of North America, said techies in Texas, California and Washington DC were among the worst-hit. Now, they are all stuck and unable to sell or continue living in the US,” he said, adding that he knew three cases where people had moved back to India. Reverse migration of H-1B holders has started,” said Satish Reddy, president-elect of American Telugu Association.
“Their only options are foreclosure or abandoning properties. “People are silently leaving the country. The problem is that many bought second or third properties to sell them in a few years and make a profit. High interest rates mean that many don’t even qualify for home loans now.