I am also against this author who wants to rub the idea of "Buy a house now OR you have to buy for more later".
But I would like to point out a glitch in your package of becoming a crorepati by staying in a rented house.
Going by your calculations, over the period of 20 years, EMI Rs. 20000 for a 30 L house will remain constant for the 20 year tenure whereas the rent definitely would not remain Rs. 10000 for 20 years.
It can be constant if one wants to keep moving to suburbs to maintain the rent scale of Rs. 10000 for the same area (1BHK, 2BHK etc.) or compromise on the rented area they get as time goes by (I bet it would be impossible to compromise with growing family needs).
My advise to you and others is not to think in these terms (of not considering inflation when calculating future rental expenses) if you donot own a flat/house yet.
Ofcourse like others in this reply list, I believe the prices are going to comedown atleast for the flats. In Bangalore I've already noticed 20 % reduction in flat rates compared to 6 months back (Sarjapur road). But still there are no takers.
