Will a 30-year loan repayment period encourage more people to buy homes?

[prasad1]

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A couple of top banks have announced home loan schemes with a 30-year repayment period. The new plan reduces the equated monthly installment (EMI) for the customer, as compared with the EMI he would pay if the repayment period was the normal 20 years. The banks want to target youngsters in their twenties.

Times_of_india

 

[Iyyarooraan]

It would neither give the satisfaction of living in one's own house nor would you be able to claim tenancy rights. It is bonding people eternally. Companies employing these bonded people (one should know that these days you do not get Appointment Letter but letter of welcome from the bank giving you a cheque book, debit card/card etc) are likely to collapse like a pack of cards. Unfortunately, many are happily falling for it. The mystery and misery of modern life is definitely going to unfold itself on our society. Poor people.