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 negative situation?

In recent years, the real estate sector has started to boom because of the escalated interest of aspiring property buyers. In spite of knowing that renting is a cheaper option, people consider buying their own places. I tend to disagree with

this

current vibe of owning

home

and in

this

essay, I will explain why

this

is happening and how it might not be a positive development. To start with, when owning a

home

becomes a social status for a few countries, people seek to pursue their dreams at any cost.

This

is because

land lords

a landowner who leases to others

landlords

can boast of their assets as a tangible outcome in front of the community members. According to a recent research paper at the University of Cambridge, every one out of five Indian jobholders save at least five per cent of their income so that they can buy an apartment in the future. On top of that, if someone does not possess any flat or land, society perceives that the person is not financially stable.

However

, buying an asset permanently is not only a detrimental decision, but

also

a loss project, especially for a few jobholders. As employees have to change their workplace or jobs incessantly, renting might be a cheaper option than buying.

For instance

, South Asian government staff have to relocate their job positions in every two or three years;

this

issue naturally provokes them to stay in a place for a short period of time.

Conversely

, if anyone with

middle income background

Suggestion

a middle income background

decides to take a

home

permanently, he/she will have to pay instalments of the loan taken for a longer period of time. To sum up,

puchasing

the act of buying

purchasing

homes would be inevitable for those residents who face an immense peer pressure from the society.

This

is why I think that

this

is a wrong decision for the numerous employees who neither have any permanent station to serve nor have a lot of cash to own a

home

.