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?

The general populace today tends to value possessing their

home

over renting. In my opinion,

this

is a part of a human natural desire for security and prestige but it confers risks. On the one hand, the source of

this

notion of buying a

home

is a need for stability and respect. An individual, who does not own a house, must pay rent to a landlord.

This

hangs them over and necessitates maintaining a job with a steady salary and balancing rent against other living expenses. Once a person acquires their own

home

, they are

then

able to spend their money more freely and might consider multiple employment without the fear of becoming homeless.

Moreover

, homeownership lends an air of respectability.

This

has become

a

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common sense

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that only the wealthy are able to buy a house and most homeowners take pride in the size and condition of their

home

as a sign of their social standing.

Nonetheless

, homeownership could portend negatively as it forces unrealistic expectations on millions. Most people live in city apartments with rents and are not capable of buying a house. The pressure to buy one is likely to engender feelings of inadequacy and resentment towards the upper classes. A good illustration of

this

famously fueled sub-prime mortgage scandals of the early 2000s in the United States when millions of the citizenry borrowed more than they could afford,

then

defaulted on their payments and ultimately lost a lifetime of their investment. Had the same people opted to rent, they would have saved more money and could have invested in other forms of capital

such

as the stock market. In conclusion, buying a

home

is innately desirable in our society but in the

end

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causes more harm than good due to the pressure it places on individuals. Many savvy people have learned

this

lesson, homeownership may witness a decline in the future.