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?

House

ownership is becoming essential as compared to a tenant home in a few nations.

This

essay examines some of the reasons why

this

is happening and I would argue that overall, it has been a negative development.

To begin

with, having own

house

has been compounded by two major factors.

First

of all, getting ownership of a

house

provides a sense of relief since if individuals do not have their own homes

then

they have to give monthly money to another owner.

This

results in the stress of managing money every month.

For example

, the major portion of wages in the USA is spent on the rent of a

house

by local people.

Secondly

, there is no fear of getting homeless as a person has a permanent place to live freely. While there are undoubtedly some benefits of owning a

house

; some drawbacks it is having can not be surpassed completely. One of the disadvantages is that folks need to spend large sums of money to buy a

house

which results in bankruptcy. On top of

this

, working individuals can not change the

house

repeatedly if they are transferred from one place to another. As an illustration, a number of houses are on sale in South America as there is less work and people prefer to migrate.

Therefore

, these downsides of having private residential areas can not be ignored. In conclusion,

this

development is due to a sense of relief and security of having personal land, while I would argue that it could lead to a financial crisis and being unable to move to other places for living. For

this

reason, I am convinced that it is a negative development.