In some countries, owning a home rather than renting one is very important for people. Why might this be the case? Do you think this is a positive or a negative situation?

People
living in some
countries
prefer to be
home-owners
Correct your spelling
homeowners
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than tenants because owning a
home
helps them build an asset for their
future
and is often considered a source of pride in many
countries
. Despite the fact that rising
home
ownership can put pressure on the rental market, I strongly believe that it is a great way for
people
to secure their
future
in
countries
where the
goverment
Correct your spelling
government
does guarantee housing for its citizens in their old age. Many
people
worldwide would rather spend their money on a mortgage
instead
of paying
to
Change preposition
apply
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a landlord to live in a house. One of the reasons is that they may choose to look at a mortgage as an investment for the
future
, where they build an asset for themselves.
Furthermore
, over time,
rising
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the rising
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value of an owned property can yield equity that
people
can use towards
further
investment.
Consequently
, owning a
home
can lead to a secure financial
future
.
Besides
this
, many feel a sense of identity and pride associated with
home
ownership, which is a significant milestone for many in their lives. On the one hand,
this
can spell trouble for those who cannot afford to purchase a property. If many
people
live in owned accommodation, not many houses will be left for the lower income groups.
As a result
, a shortage of houses for rent
,
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apply
show examples
would drive up rental prices,
further
worsening the situation for renters.
On the other hand
, in
countries
where no social security is provided by the government, the only avenue for
people
to secure their
future
financially is through owning a
home
. Despite the
drawback
Fix the agreement mistake
drawbacks
show examples
mentioned above, individuals and households often choose to purchase houses keeping in view self-interest, especially when they do not get government assistance for housing. In conclusion, the preference to own a
home
over renting is primarily because it helps
people
to build wealth.
Although
it has some socio-economic disadvantages, I firmly believe that owning a
home
is crucial in many
countries
where government support for the retiring members of
community
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the community
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is close to non-existent, especially in terms of housing. If
people
did
Wrong verb form
do
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not secure their own
home
when they can afford it, they may eventually have no place to live in their declining years.
Submitted by phatkhunnok on

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Topic Vocabulary:
  • ownership
  • renting
  • importance
  • sense of security
  • stability
  • financial investment
  • asset
  • customize
  • decorate
  • belonging
  • community
  • potential
  • future generations
  • long-term
  • cost advantage
  • control
  • living space
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