Buy or Rent a house?
I have been saying this for a very long time (over 20 years now) and now somebody else in the MSM is also saying this.
Let us accept it. Unless the salaries: house price ratio moves in favor of the salaries, one should not buy a house.
This year the salary hikes in the mutual fund industry, software, banks, etc. have been fantastic, and it has been reasonably good in the insurance sector also.
So with mid level managers earning about Rs. 30-50 Lakhs, the buying in the fringes may happen….hey read on…
http://www.dnaindia.com/mumbai/report-better-to-rent-a-flat-than-buy-one-in-mumbai-2032716
Anand
Real estate rules in Mumbai are different.
In Mumbai, it makes sense to rent since property rate are too high.
Cannot be said the same about other cities.
thenub
@Anand It’s high in all cities.