In some countries owing a home rather than renting one is very important for people. Why might t this be the case? Do you think this is a positive or negative situation?

In a few nations, leasing a house is more popular than buying it.

This

,in my opinion, is neither good nor bad but more about the cultural and economic conditions of a place. In the following paragraphs, I will discuss a few possible reasons for the case in point.

First

and foremost is the economic condition of a place. Owning a home can be very expensive whereas renting the same property is much economical.

For instance

, the majority of properties in Gurugram, Delhi NCR region, has a rent yield of 1% to 2% which means a person can pay the rent for about fifty years to reach the cost of the house.

Additionally

, most people these days are in private jobs and they switch jobs quite often to advance their careers. By virtue of switching jobs, many people have to change their location and they prefer to rent a home, keeping the process of moving to another location much easier. Cultural and social reasons

also

play a role here. Few societies,

such

as India, give importance to owning a house. Important life decisions

such

as marriage, sometimes depend on these factors. Indians

also

have an emotional attachment to their homes - buying a home is one of the main goals for many individuals in India.

This

is not the case in most western societies these days. To conclude, renting a place to live

instead

of buying it is neither positive nor negative. It's more about the economic and cultural context of the people.