Recently, a well-known personality, Zerodha Nikhil Kamath has stated regarding the rising EMI house prices. Kamath is the co-founder of Zerodha. He has given a recent statement on his official account on Twitter (X). He shared some insights and infographics on the housing crisis. He posted this tweet on 2nd November 2023, Thursday. He started his tweet by writing, So the rates are up now, The EMIs have doubled, but the salaries didn’t and the prices of houses have also gone high now. What’s next? He said some more things regarding the hike in EMI prices. So to know everything read this article till the end.
Recently in a tweet, Nikhil Kamath, the co-founder of Zerodha said about the hike in EMIs, he wrote, If now the rates has been hiked, there is a slowdown in the sales which might be a very logical forerunner to the price of the correction. He has also said that the cost of the capital has correlated in the entire world. The Indian rates cannot go down in the United States rates which are saying up. He has also attached some insights into the infographics which are officially made by InvestyWise in the way supporting the words of Kamath.
InvestyWise has officially claimed to elevate real financial education with engaging infographics that should be shareable. This has data from several agencies like Freddie Mac, the US Fed, Redfin, Standard & Poor, and the National Association of Realtors. Because of the high EMI rates, there is a big impact on the global. The tweet which was posted by Nilkhil Kamath was majorly focused on the United States housing market crisis as some astronomical price increases made purchasing a house which was impossible for the youth. Continue reading to know more.
In October 2023, the Wall Street Journal gave a report in which it was showcased that 52% more expensive are to purchase a home than to rent one due to climbing mortgage rates. In April 2023, Nikhil Kamath called the sudden spike in house rents which are rising in the country a short-term phenomenon. It has been said that the stark mismatch is in the trend of purchasing and renting the house which has to need a big reach in the equilibrium. Nikhil Kamath stated on Twitter (X) that it looks like there is a short-term phenomenon, as there is a very large rent at 3% and housing loan rates are now more than 8% this might not work.