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the future of bank interest rates from an industry veteran – k v kamath
In an interview , k v kamath , the former ceo of icici bank and former chairman of infosys has suggested that the banks lower the interest rates in order to avoid a real estate crisis in country .
no homes are being sold at their pre-covid 19 price – construction of new homes are being delayed due to non availability of labour
- with no new bookings coming in and a large supply of unsold homes , it is a buyer’s market
- the lower interest rates would mean that the real estate companies who have borrowed heavily for real estate construction .. will also be getting the reduced interest rates
- and post covid 19 days , the lower home loan rate would also mean more people would be attracted to buy homes
hdfc chairman , deepak parekh , has also called for re-structuring loans for real estate companies / builders.
so , we are in for a future with lower interest rates and cheaper price than the current home prices.