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The Impossibility for Young Adults to Become Homeowners in Egypt

January 4, 2021
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I would like to buy a house.  This thought has been floating around my mind for a while now. As a young adult in my late twenties, it feels as though it should somehow be feasible for me to become a homeowner. The harsh reality of the situation however – especially as a young adult in Egypt – is that it is no where near feasible. Not anytime soon at least. I would like to buy a house for a variety of reasons – for my own sense of security, to have my own space, perhaps even to have a place where my mother could eventually reside. No matter what the reason may be, I should be able to at least have the option of purchasing my own home at this point in time. Current market prices however, for a half decent home (even a simple two bedroom apartment) in a decent Cairo neighborhood are far too high – always hovering in the millions – for me to even think about being able to meet a downpayment, just a downpayment. Not to mention that current average monthly salaries do not…


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