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?

Recent years have witnessed that the general populace tends to value possessing a

house

over renting. In my opinion, I would contend that

this

is part of a human natural desire for security and prestige, while it confers detrimental aspects.

To begin

with, I am of the opinion that we, as human beings, always want a place to live and feel secure, and

this

notion has created the demand for a

home

in the world we live in.

This

trend of acquiring a

home

is justified by the fact that once an individual owns a

house

, it is possible to spend money more freely without the fear of becoming homeless. As an illustration, an entry-level worker, who just has graduated from their tertiary education, might find it challenging and harsh to balance between maintaining a steady job and covering the rent against other expenses.

Moreover

, owning a

house

indeed lends an air of respectability. As a matter of fact,

this

has become widely known that only the wealthy could afford a

house

and most homeowners will take pride in the size and condition of their

house

as a signal of their social standing. Despite

this

development has been a part of our innate need amid the progressing advances of our society, it can portend negatively in the way we define homeownership. Some people, particularly ambitious ones, are obsessed with the must to buy a

house

at a young age. One of the greatest examples to demonstrate

this

is often cited in the case of the United States in the early 1990s when millions of the citizenry borrowed more than they could afford to desperately possess their own

home

.

This

incident eventually turned out that these people had defaulted on their payments due to the killing interest rate from the financial institutions, and

consequently

lost their lifetime of the investment. Had these people not followed the rat race of owning a

house

, they could have saved and invested their earnings in other forms of capital

such

as the stock market. In conclusion, while

this

development is the natural desire of potentially every individual around the world to have their own

home

, the unforeseen risk mentioned could redefine our interest in a

house

. There are numerous convenient yet affordable housing options available nowadays, I could forecast that

home

-ownership might see a decline in the near future.