India, Aug. 19 -- The story of a laid-off techie in Bengaluru has sparked debate on X about the risks of buying expensive apartments. The professional had purchased a Rs.1.3 crore flat two years ago, putting down Rs.50 lakh and committing to an EMI of Rs.78,000 a month. After losing his job recently, his cousin, posting under the handle Wealth Whisperer, shared his financial struggles online, suggesting he sell the flat and reset his plans.

"Given the global headwinds, one should wait for some time before investing in a home loan if the person is dependent on one source of income," she told HT.com.

While homeownership offers a sense of security, steep EMIs can quickly turn into a burden when income stops. 'Monthly EMI becomes a nightmar...