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 a positive or negative situation ?

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In some nations, it is important to own a
house
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rather than rent
one
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. In my opinion,
this
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has positive outcomes,
this
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is because
house
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ownership can provide stability for some families along with better financial status. There are many reasons why
people
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prefer to own
a
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apply
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private property;
one
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of them is that it can prevent families from moving from
one
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place to the other, unlike renting.
Moreover
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, if a family owns a private accommodation,
this
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may make them feel some sense of security and stability. As well as
this
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,
people
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who own a
house
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have better equity and finances.
For example
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, during the recent pandemic, a lot of individuals were put out of work, and they were not able to afford the monthly rent.
As a result
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, many individuals have decided to save up buy houses. I strongly believe that
this
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is a positive development.
This
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main reason is that staying in
one
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house
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can strengthen family bonds, and family members can get close to each other.
Furthermore
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,
this
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also
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reduces the burden of paying monthly rentals that impose additional stress on families that depend on renting houses.
For instance
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, in Egypt, the prices of rented apartments have witnessed a significant rise of 50% over the
last
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year. As a consequence, many
people
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struggled to find proper places to live in. In conclusion, security, and stability may be the main factors why
people
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have opted for private property ownership
instead
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of renting. I do believe that
this
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is beneficial, as it could improve family relations, and it means less financial burden.
Submitted by reemmagdysherif 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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