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Do you think September is still afar off for young people to plan for their first home? Or should they wait a bit longer to 2021 until they have saved 20% for a down payment? 

5 Answers

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My suggestion is to waith until the Indian economy stabilize a little. Because due to this Covid-19 the prices will go higher in upcoming months. So wait for 2021. Wait for good time and purchase.

 
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Yes. Thank you. And with joblessness, banks would not approve any potential applications for home loans
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Some economists predicted that housing prices would fall in 2020 but such forecasts are losing grounds as the U.S. housing market, so far, remains undaunted by the economic recession. Home prices rose during the pandemic and could rise even further due to heavy buyer competition and a significant shortage of supply.
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I personally think that it is not a good time to have this in mind. Even my family and I put on hold the idea of building a new house because of this pandemic.
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In September 2020, the housing market will look like it does every year. There will be more people buying homes, but it will also be a difficult process because of the current market conditions. In 2021, you should wait to 2021 to find out if you have saved 20% or more for a down payment.
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The Indian economy should wait a little while before stabilizing, in my opinion. Because prices will increase in the future months as a result of Covid-19. Wait until 2021, then. Await the right moment to buy.
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