How Covid-19 Is Impacting Your Household Budget?

The biggest impact of the Covid may have been on people’s aspirations. A booming stock market and a recovering economy pre-Covid could have fuelled dreams of home ownership and purchase of assets; however, the Covid crisis may have put paid to those aspirations. We compared the households’ aspiration to own a home in the near future in the September-December trimester of 2019 (that is, before Covid struck) and the May-August trimester of 2020 (when Covid was peaking and crippling the economy). As expected, we found a substantial decrease in the aspiration.

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