For many people, buying a house is the ultimate dream and one of life's biggest goals. However, property prices have gone up significantly across major Indian cities in the last five years, leaving people no other choice but to rent homes. The rent versus buy debate has been ongoing for decades, with industry experts weighing in on both sides. However, the ultimate decision often comes down to emotional factors rather than purely financial considerations.
Recently, an investor ignited the longstanding debate, saying that renting a house is a better option for the middle class. He further opined how the aspirations of the middle class to purchase a home might be a reason why they remain in the same economic bracket, rather than aspiring to higher goals or investments that could potentially lead to greater financial growth.
''50 yrs back aspiration of a middle class to have own house. Even today aspiration of a middle class is to have house first. One of the reason why many middle class remain middle class,'' the tweet was captioned by Kiran Rajput, an individual investor.
See the post here:
The post has sparked a heated debate on X, with many criticising the investor for his comments. Several people said that buying a house gives an individual peace of mind and stability, while only a few agreed with him.
One user said, ''House is not about money only. House is about relaxing and knowing that even if you lose your job or share market tanks by 60% you have a place to live.''
Another commented, ''People who have lived in rented flats understand how crucial it is to have their own home. Owning a house provides peace of mind that cannot be measured in terms of percentage returns.''
A third wrote, ''One thing is clear, never listen blindly to any influencer,they think living in a rented flat is good and keep listening to owner's taunts for entire life so that they can do SIP.''
A fourth added, ''Don't fall for anyone who tells You not to buy a house. They all have some Land or House in their name. Even if it is in a far flung village, it is worth Your entire stock portfolio. Buy a house and stay debt free A house is the only real asset You'll ever have.''
A fifth said, ''Isn't that an outlier event? I have lived in rented houses all my life, and I have never had to experience anything like that. Buying a house only makes sense if you plan to live in it for at least ten years. My career requires me to switch cities, so renting makes more sense for me.''
Aman Goel, CEO of GreyLabs AI and an alumnus of the Indian Institute of Technology (IIT) Bombay, also reacted to the post and wrote, ''Nothing is worse than being kicked out by your landlord just because someone else paid them 10% higher rent. Don't listen to Finfluencers. Being able to live under your roof is a privilege. If you can afford a house, buy one. Just ensure that you don't get into a debt trap.''
