Loading... Real estate crisis in metros & tier 1 cities

AI is coming after jobs in all service sectors. IT, legal, finance & banking, travel, consulting, investment research etc. The people working in these sectors are majority based out of metros & tier one cities. With AI related layoffs, their jos are danger directly & indirectly. That will have direct impact on the EMI based housing loans. Even the people who are not going to be laid off will stay away from real estate big ticket investment. Even if one of the partner loses his/her job, other partner will face massive burden of the EMIs

With this, there will b a massive rela estate problem in metros in next 6 months to 1 year. It will bust the unrealistic real estate bubble this time in metro cities.

Even though a lot of real estate price is driven by black money of netas & babus, after every crisis the jobs generated would help to keep the bubble intact. This time, it is different. Jobs which AI is going to take away are not coming back. & The salary hikes won't match the unrealistic real estate prices this time

Do's If you really want to purchase property, prefer vacant plots in tier 2-3 over flats in metros. Even farmlands is looking better option now. Save money. As much as possible. Don'ts Avoid EMI based housing purchase. Stay on rent till AI related lay offs get some clarity. If you have a homeloan, try to pay it off before taking any other loan.