That's not really true for India because unlike developed countries, the housing has a wide price range for any given area. Also it is actually preferable to rent in India because rent doesn't even cover half the emi. Overall, through a lot of measures like tax breaks and cheaper loans for housing developers building affordable housing, reduction in interest for low cost housing, free housing for poorer sections of the populace, government has made housing a non issue apart from a select set of cities like Mumbai where geographical constrains ensure higher prices and low availability.