Pakistani youth should be motivated to buy homes
Pakistan is a young nation. Average age in Pakistan is 21 years. Youth is the real gold mine of Pakistan. If youth is educated properly, they will change the fate of Pakistan. Therefore, youth should be properly educated and we should also teach our youth about harsh realities of life.
Expensive housing in Pakistan
Due to the housing shortage and high population growth rate, house prices are very high in Pakistan. Average house price in Pakistan is more than 15 million PAK Rupees. We will see more increase in house price in future. It would be very hard for future generations of Pakistan to buy a home.
Pakistani Youth want luxury stuff that depreciate with time
Our young generation is interested in the stuff what we aspire to have. Majority of Pakistanis value luxury cars and smart phones as the status symbol. Very few Pakistanis are interested in securing the future of their kids by investing in real estate. One of the major reasons of this mindset is the relatively affordable housing in the past.
Property is an appreciating asset, whereas cars and mobile phones are depreciating assets. A good car price was 1 million PAK Rupees in 2000, whereas a good house price was 2 million PAK Rupees in 2000. In 2015, price of good car is 2 million PAK Rupees but value of a good house is 20 million PAK Rupees. So property price has appreciated by ten times whereas car price has just increased by two times.
Pakistani Youth should be encouraged to secure their future by buying flats and homes
We should encourage our youth to secure their future by investing in property rather than buying the depreciating assets. Property prices have always increased, whatever time period we compare. Rise in property price is due to the limited land and increasing population. If present trend is continued, we will see majority of people in 2040 as renters rather than home owners. Even in western countries, parents help graduates to secure the mortgages for their first homes. Western societies encourage youngsters to go after necessities rather than luxuries.
21st century will see the battle for survival due to the increase in population and decrease in resources. 21st century will also see the worst form of slavery, ‘The Rent Slavery’. This is the right time to encourage our kids to invest in property to secure their future.