Morning Buzz: Housing sales and hybrid jobs surge, real rural wages shrink

Housing sales came in at the second highest in a given half-year on account of stable mortgage rates. Image: Shutterstock 

H1 housing sales at second highest in a decade  

Housing sales came in at the second highest in a given half-year on account of stable mortgage rates. The data released by Knight Frank showed that housing markets in the top eight cities recorded sales of 156,640 units in the first half of 2023. New launches stood at 173,364 units up eight percent from a year ago. Affordable housing, which is more rate sensitive, showed a loss in momentum.

(Economic Times)

Hybrid job roles surge 60 percent

Solely onsite job roles have declined by 10 percent this year, according to a study of jobs posted on LinkedIn. The study, which looked at entry-level positions, also saw that hybrid roles recorded a rise of 60 percent. This gives fresh graduates more flexibility while looking for a job. The fastest-growing job functions included product management, human resources, consulting and social services.

(Business Standard)

Private banks writing off NPAs more aggressively than PSBs

According to the Reserve Bank of India’s financial stability report private banks across the country have been more proactive in writing off bad loans. The write offs to gross non performing assets ratio at private banks stood at 47.9 percent versus 22.2 percent for PSBs. The write offs help to improve market sentiment for their stocks as there could potentially be less surprised coming on the profit front. This is also important for private banks as they raise capital in the form of equity or debt more than PSBs.