Over the past several years, there has been a growing trend among prominent figures in various industries to rent homes over buying them due to numerous factors, one of which is increasing interest rates.
Zerodha co-founder Nikhil Kamath also shared this inclination towards rent homes over buying, as he found the current real estate valuations to be “ludicrous and absurd.”
“I couldn’t bring myself to buy real estate at today’s valuations because, personally, I think they are ludicrous and absurd with interest rates where they are, for the prices of homes and offices to increase does not make sense,” Kamath said on CNBC TV-18’s “I Did it My Way” podcast in September.
Kamath continued to reside in a house that he does not own and plans to maintain this lifestyle in the future.
He does not expect this choice to change and sees the only house he owns as the one where his parents live, which is more of an emotional decision.
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