Hypocrisy Unveiled! Zerodha's Nikhil Kamath Buys Home After Promoting Renting - Read Here
Nikhil Kamath, co-founder of Zerodha, is criticized for buying a house after advocating for renting. This shift sparks backlash on social media, questioning the reliability of his previous real estate advice amid the renting vs. buying debate.
A stormy reaction is brewing on social media. Nikhil Kamath, co-founder of Zerodha, the online stock exchange platform, found himself on the hot seat when on the very same day, he said that his dream of owning a home had finally come true; it was the day he had previously expressed his opinion against selling versus renting property. Known for his open opinions on the topic of real estate, he has got slammed for this seeming about-face as various people called out the hypocrisy of his speech.
Recently, Nikhil Kamath of Zerodha while explaining why one should buy a house made an appearance on his podcast 'WTF is with Nikhil Kamath'. Admitting one harvests the benefits of renting, he however pointed out the huge disadvantage was, "You do not know when you can move out of the house," he said. His experience of needing to relocate from a rental property made him rethink homeownership as a commodity. "I had to get out of this house, whereas I may have wanted to stay longer," he said, pointing to the emotional price of too many moves.
Even with his explanations, the social media backlash has come fast and furious. Critics opine that the irony now - Nikhil bought a house. Wonder where all the previous lessons on renting went, huh? A tweeter wrote, "So you were saying @NikhilKamath that renting is better than buying a house, but went ahead and bought one yourself? That was a wonderful 'renting' advice only for the poor folks, was it? Meanwhile you went out to have fun with the benefits of being a billionaire!
Another said the same thing, "Nikhil Kamath of Zerodha, after propounding the gospel of renting over buying, did an about turn and bought a house. He's misleading all those who listened to his advice on his podcast." The third one said, "Nikhil Kamath buys a house, after advocating for so long about how 'renting is the best, only fools would buy property.'"
The incident has triggered renewed debate about whether one ought to rent or purchase- suggesting how personal circumstances may influence what one decides in matters of finance, as well as the advice delivered to the public. As Kamath rides through the backlash about his decision, it is quite a reminder of how real estate choices are not straightforward and how public figures can influence consumer behavior.
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