India's Real Estate Growth and US Housing Efforts

India's real estate sector is projected to grow significantly, expected to reach a market size of $4.8 trillion by 2047 and contribute 7% to the GDP. The sector anticipates the FY 2025-26 budget to introduce policies enhancing affordability, such as increased home loan tax benefits and adjustments to the PMAY house value cap. In the US, Utah's Governor Spencer Cox has proposed building 35,000 affordable homes with deed restrictions to prevent investment firms from converting them to rentals. This initiative addresses the affordable housing crisis, as seen in Clark County where construction permits have significantly decreased since 2021 due to high interest rates and low inventory. Homebuilders are using mortgage rate buydowns to help first-time buyers manage high borrowing costs. These developments highlight ongoing efforts to address housing affordability challenges in both India and the US.