Own House? Modern Youth Saying No Thank You!

It has been programmed into the Indian mindset that a family can settle down only after they purchase their own house. This has been the standard practice for many decades as newly married couples had been planning to buy their own house at least for their parental demands.

But the current generation of the youth is acting differently as they have started to move away from this traditional culture of owning a house. The difference in trajectory is becoming extremely evident now.

Apparently, more than 53% of the youth that falls under the 25 to 35 years, old category has collectively decided not to own their house at this point in time. Couples aged more than 35 are also less than half likely to buy their own house, and they have their own reasons for the same.

The fundamental factors include prolonged EMI payment system and on top of that there is this growing concern about the job stability in the current market. Subsequently, the modern generation youth have collectively decided to stay away from own houses and are preferring rented properties over the same.

This is an interesting transition period from the previous generation, which had own house at the top of the priority list, but that is not even remotely the case with the current generation.

This is a positive shift, considering that the real estate market has been going massive over the last few months with inflation also starting to catch up. So it needs to be said that this is a positive shift in momentum from the younger generation.

It appears that the current generation is more interested in investing their money and creating experiences like luxury travel and related activities.