People in India are no longer buying homes.
People in India are no longer buying homes. Lakhs of constructed apartments are lying vacant. There are two reasons for this – one, fearing a recession, people do not want any more EMIs on their heads, and two, NBFCs are no longer giving home loans. But a slump in the realty sector is not limited to buying or selling homes. It also means a rapid decline in job opportunities as well as a fall in wages.