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 ?

In some nations, it is important to own a
house
rather than rent
one
. In my opinion,
this
has positive outcomes,
this
is because
house
ownership can provide stability for some families along with better financial status. There are many reasons why
people
prefer to own
a
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private property;
one
of them is that it can prevent families from moving from
one
place to the other, unlike renting.
Moreover
, if a family owns a private accommodation,
this
may make them feel some sense of security and stability. As well as
this
,
people
who own a
house
have better equity and finances.
For example
, 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
, many individuals have decided to save up buy houses. I strongly believe that
this
is a positive development.
This
main reason is that staying in
one
house
can strengthen family bonds, and family members can get close to each other.
Furthermore
,
this
also
reduces the burden of paying monthly rentals that impose additional stress on families that depend on renting houses.
For instance
, in Egypt, the prices of rented apartments have witnessed a significant rise of 50% over the
last
year. As a consequence, many
people
struggled to find proper places to live in. In conclusion, security, and stability may be the main factors why
people
have opted for private property ownership
instead
of renting. I do believe that
this
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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