If you remember, about 15-20 days back I had made a prediction that the second wave of reverse migration is going to start soon. And that this time the reverse migration will not be visible on the roads as the middle class and the upper middle class moves back into
their village homes where cost of living is less and their savings will last longer.
This time the salaried class will start leaving the cities as jobs are lost and living in cities become unsustainable.
I think that has already started. Cities like Indore, Chandigarh, Bangalore are seeing mushrooming of 'To-Let' boards.
I think it must have started in cities like Gurgaon and Delhi too although this practice is not much in these cities. In Bombay nobody puts up 'To-Let' boards as most available space is in high rise apartments which can't be seen from the ground level.
But the vacancies must have started here too.
And the rental yield will start to fall too as supply outstrips demand and landlords lessen their demand for rent.
.
This will add to the downward spiral of our economy as houses that were giving rental income to property owners stop giving them any income.
And as that happens more distress follows. Discretionary spending goes out of the window
#WakeUpBJP #wakeupindia #pubgunban
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.