Most millennials are choosing not to buy homes
Many young millennials are reluctant to take on a huge EMI burden early on in their career just to buy a home
In 2019, 20% of prospective homebuyers are in the 25-35 age bracket, which means that older millennials are still looking to buy homes, says report
Millennials don’t like buying real estate. It has been established by surveys and reports that many young millennials are reluctant to take on a huge EMI burden early on in their careers just to buy a home. “As the demands of modern-day careers keep people on the move, many have decided against being tied down to a particular city by buying property, and rental homes have become the norm across the metros," said Lovaii Navlakhi, managing director and CEO, International Money Matters Pvt. Ltd, a financial planning firm. Affordability and a change in the general attitude towards saving and investing have also played a part.