I don't understand what the author is talking about here on advicing people to sell their house. There are people who take loans to buy house from the investment perspective. This option may be viable for them. But for people who have it as their only home, your advice to sell and settle them loan if they are not able to handle rising EMIs beyond the short-term calculations whatever you have said. If they sell their only home, where should they live??? In a rented house??? Even if they sell the house and settle the loan, if they happen to be in an expensive place like Bangalore, they have to cough up 10 months rent as advance for a rented house. where are they going to get that from??? another loan???
So when you are writing articles, please be specific on each possible scernaros and then advice. Do not generally assume that everyone would have bought houses taking loans only from the tax saving and/or investment prespective. For a lot of them, its a sense of having their own roof on their head...
