In some countries owning a home rather than renting one is considered very important. Why might this be the case? Is this a positive or negative development?
Home ownership
and property rights have been one of the most important pillars of Correct your spelling
Homeownership
Add a hyphen
market-oriented
market oriented
economies globally. For the average Add a hyphen
market-oriented
person
, owning a home requires decades worth of loan repayments or savings. On the other hand
, renting does not require taking such
high duration
commitments.
Household formation is a key driver of stable economic growth and wealth creation. Governments encourage it, through public policies as it leads to family formation and a stable society. It Add a hyphen
high-duration
also
provides much needed
psychological stability, as there is always going to be a Add a hyphen
much-needed
house
to live in. Taking ownership of a house
, Correct your spelling
ultimately
utimately
frees up a lot of discretionary spending for the average consumer, which is very good for economic growth.
Correct your spelling
ultimately
On the other hand
, owning a house
entails a long term
commitment Add a hyphen
long-term
towards
a Change preposition
to
Correct your spelling
specific
specifc
area. If jobs remain plentiful, Correct your spelling
specific
then
the repayment for the house
does not become an issue. It will however
restrict any person
to pursue greener pastures elsewhere. In that scenario, it is important for the person
to be able to rent
the house
and get a good rental yield out of it. Otherwise
, he or she will have to shift to another house
in another area and rent
while paying the loan on a pre-existing house
.
Renting, on the other
hand
provides a lot of mobility at the cost of outgoing Add the comma(s)
,hand
rent
which could have been invested over the years, to gain ownership of a house
. Typically, when professionals are in the early stage of their career
, they like to Fix the agreement mistake
careers
rent
. This
provides them mobility while building up their savings towards eventually owning a house
. These excess savings can also
be utilized to get a better return through financial instruments compared to rental yields.
The ability to own and rent
a house
are both equally important. If everyone owns a house
there will be no-one
to Correct your spelling
no one
rent
to and vice versa. Renting and owning a house
are activities that happen during different stages of life for any person
. Giving undue importance towards
owning a Change preposition
to
house
, can lead to people making commitments to buy a house
,
before they are ready. It can Remove the comma
apply
also
push up housing prices for everyone and create economic bubbles.Submitted by rohit.pandeyecon on
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- Sentence 1 - Background statement
- Sentence 2 - Detailed background statement
- Sentence 3 - Thesis
- Sentence 4 - Outline sentence
- Paragraph 2 - First supporting paragraph
- Sentence 1 - Topic sentence
- Sentence 2 - Example
- Sentence 3 - Discussion
- Sentence 4 - Conclusion
- Paragraph 3 - Second supporting paragraph
- Sentence 1 - Topic sentence
- Sentence 2 - Example
- Sentence 3 - Discussion
- Sentence 4 - Conclusion
- Paragraph 4 - Conclusion
- Sentence 1 - Summary
- Sentence 2 - Restatement of thesis
- Sentence 3 - Prediction or recommendation
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