This waiting game is likely to hurt the growth of housing companies, read banks, as this forms a significant chunk of their total income. Housing income accounts for around 30-35 per cent of the total income for ICICI Bank.
Apart from the buyer turning reluctant, we are also likely to see some tightening of norms by banks/housing companies themselves. Add to this the possibility of a higher delinquency and you have a stomach-churning scenario for someone in the housing finance business.
