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?

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In some countries, having a home of
one
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's own rather than renting
one
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is essential. There are several reasons, but the biggest reason is that buying a
house
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is more financially beneficial than renting
one
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, and
this
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makes
people
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consider a
house
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as an item of investment.
However
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, I am very
skeptical
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sceptical
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about
this
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situation
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, because the rich tend to keep purchasing a large number of houses for financial purposes, which causes ordinary
people
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to have trouble getting a
house
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.
To begin
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with, the reason why some
people
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consider owning a
house
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more important than renting
one
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is that it is financially beneficial. In terms of renting, the monthly payment for the
house
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is just a simple meaningless expense.
However
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, when it comes to owning a
house
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, it is a stable, high-income investment target compared to other targets
such
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as stocks or bonds. To be specific, historically, in the nations that went through rapid economic growth, the growth rate of housing prices has been higher than the figure of inflation in general. With expectations for rising property prices, some
people
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stretch themselves to buy an apartment to make a profit. They even get a loan from a bank to buy a
house
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, which is a quite reasonable choice for the owners, because the expenditure for the interest of a loan is much lower than the profit from the housing price in the long run.
However
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, in my opinion, I have a number of concerns about
this
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scenario since the wealthy will continue buying a lot of houses for financial gain, making it difficult for regular
people
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to find housing. As I mentioned before, considering investment targets, a
house
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, land, or property is guaranteed a stable and large income, so rich
people
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who are usually called “property speculators” are eager to get a lot of apartments or complexes.
However
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, since places for speculation objects are mainly located in overpopulated cities, the government has difficulties in providing housing land for common
people
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. The ordinary citizens barely manage to get
one
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house
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per family, while “the property speculators” get two-or-three more houses.
This
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is the
situation
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where demand is gradually getting too high and supply is still too low, which will cause a high increase in housing prices.
Consequently
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, ordinary
people
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may never have the opportunity to purchase their own dream
house
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. In conclusion, there are several reasons why some
people
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are obsessed with buying their own
house
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rather than renting
one
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, but the main reason is that it is an obvious way to get more financial profits.
However
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, I am very concerned about
this
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situation
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because these
people
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, and the
situation
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they make, lead society to be worse so that the poor can never even dream of a
house
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where they can lay down themselves in peace.
Submitted by ghg5252 on

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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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