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?

Individuals in some parts of the world are of the opinion that buying a house is by far better than renting. There are two main causes, the detrimental economic situation of the country and false social beliefs. Having said that, I personally believe that

this

would have a negative impact on both the economic structure of the region and people's lifestyles. As regards the root causes, residents in these countries would like to ensure that their investments are in a safe place.

That is

to say, due to the unstable economic circumstance and increasing inflation rate they cannot be able to invest their

money

elsewhere. By buying a home, they try to protect their

money

from these conditions and devaluation as possessions are becoming more expensive

as a result

of inflation.

Additionally

, in

such

developing countries, possessing a house would be considered a sign of wealth. Due to

such

a culture, people try to impress others by the size of their houses and the way they have decorated that.

On the other hand

,

this

point of view could have some undesirable consequences.

Firstly

, investment in

this

field would definitely bring about more inflation due to the increase in demand. A huge amount of

money

invested in

this

field means that there would be not enough

money

for the production of goods which will cause a worse economic situation.

Secondly

, residents would work hard most of their time to buy an unnecessary belonging.

As a result

, they will feel unhappy if are not able to do so and will lose their confidence. In conclusion, spending the whole life on buying a home

instead

of renting one is because of social and economic situations. Overall,

this

trend would have some drawbacks for society and individuals as well.