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?

Many
people
nowadays prefer owning a
home
to renting.
This
, in my opinion, is a natural human need for security and prestige, but it is not without peril.
This
urge stems from a need for stability and respect. A person who does not own a
home
is required to pay
rent
to a landlord.
This
looms large over them, requiring them to keep a steady work and balance
rent
against other living expenses. When a person owns their own
home
, they can spend their money more freely and consider several types of jobs without fear of being homeless. Having a
home
also
gives you a sense of dignity. Only the wealthy can afford a
home
, and most homeowners view their
home
's size and quality as a reflection of their social position. Homeownership,
however
, is a harmful trend since it places false expectations on millions of
people
. The majority of
people
pay
rent
in city apartments and are unable to purchase a
home
. The pressure to buy one is likely to lead to feelings of inadequacy and hatred of the wealthy.
This
famously caused the sub-prime mortgage scandals in the United States in the early 2000s, when millions of
people
borrowed more than they could afford to buy homes,
then
defaulted on their payments and lost a lifetime's worth of investment. These same
people
would have saved more money if they had rented
instead
of
buying
Wrong verb form
bought
show examples
. If these individuals had chosen to
rent
instead
of buy, they would have saved more money and been able to invest in other forms of capital,
such
as the stock market. To summarize, owning a
home
is fundamentally desired, but the pressure it places on individuals ultimately does more harm than benefit.
This
is a lesson that many individuals have learned, and property ownership may begin to dwindle in the future.
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    • Sentence 2 - Example
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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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