Home ownership not a ‘safe asset’ in 2016? CA explains why buying a house has become fi...

This report covers key India-focused updates related to loans, EMI, interest rates and banking. Home ownership not a ‘safe asset’ in 2016? CA explains why buying a house has become financially unrealistic for youngsters A post by Chartered Accountant Nitin Kaushik has sparked debate online after he claimed that buying a house in today’s market has become “mathematically impossible” for many young professionals. Comparing property prices from the early 2000s to current rates in Tier 1 cities, he argued that rising costs, long EMIs and stagnant income growth have changed the economics of home ownership, making real estate less practical as a “safe asset” for the younger generation. Listen to this article in summarized format Why the old home-buying formula is becoming difficult