The threat of homeownership for the middle class... Do you know the HPI ratio?
The middle class has to work tirelessly for the security of owning a home. Now, this has increased to a lifetime of hard work. This is measured by the HPI (House Price to Income) ratio. It's considered safe if you can buy a house with 3-6 years of salary. But in Mumbai, a person has to spend 34 years' worth of salary. This is 22 years in Bengaluru, 20 years in Delhi, and 18 years in Pune. It is 21 years in Hong Kong, 13 years in London, 11 years in Singapore, and 9 years in New York. What is this ratio in your area?
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