A 25-year-old earning ₹1.8 lakh per month in Bengaluru expressed frustration over skyrocketing real estate prices. Despite maintaining a strict budget and investing heavily through SIPs, he claimed he was stunned to find that even a 2BHK flat costs around ₹1.3 crore.
“Gen Z getting humbled by housing prices,” the man wrote, adding that he is a 25-year-old cybersecurity professional working in Bengaluru. The individual claimed earning ₹1.8 lakh per month.
He explained that being from a “middle-class family", he is always careful with his spending and “doesn’t waste anything”. The man continued, “I got living expense of almost ₹31k per month living alone in pg and I started investing my money in sip ₹75k per month, 10% interest and rest other in my savings account.”
He claimed that he wanted to buy a house near Indiranagar, Whitefield, but was stunned to find that even a 2BHK costs around ₹1.3 crore.
{{/usCountry}}He claimed that he wanted to buy a house near Indiranagar, Whitefield, but was stunned to find that even a 2BHK costs around ₹1.3 crore.
{{/usCountry}}He questioned, “Should I continue living like this on a cost cutting life for another 5 years and grow my portfolio and then get some loan to actually afford that expensive house (I don't have any plans of marriage till 30) or start another sip from zero.”
What did social media say?
An individual said, “Demand is down, and lots of properties are getting listed without buyers; let's see how long they can maintain sky-high prices.” The OP responded, “So housing prices are gonna crash in late years? or should I buy it rn... man it feels like a gamble.”
Another commented, “The housing market in India is unlikely to crash now until something terrific happens in the AI space, leading to a lot of job losses from high-earning folks otherwise, there is hardly any chance. COVID was the best time to buy because there was uncertainty (no vaccine had been developed) and a lot of unsold inventory. Right now, even with unsold inventory, you may hardly get major discounts. Thankfully, I bought during COVID and got massive bargaining power.”
A third expressed, “My heart goes out for Gen Z. As a millennial, I’ve seen s**t times but Gen Z is having a real challenge at hand. But you guys will be fine, you’ll figure it out.”
A fourth wrote, “Honestly, I felt like reading a post drafted by myself. I was, and am, living exactly the way you described. However, I recently purchased a decent 2 BHK house on a budget. The reason I was able to get this is that I was okay with purchasing a resale flat (not an old building, but 5-6 years old). Guess that's what you should do.”
(Disclaimer: This report is based on user-generated content from social media. Hindustantimes.com has not independently verified the claims and does not endorse them.)