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?

Some

people

in several nations

,

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assume having a

house

is more essential than leasing one.

This

situation is affected by some reasons and I think the opinion leads to

unfavorable

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unfavourable

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circumstances.

To begin

with, there are two approaches that are used by some

people

that want to consider buying a

house

.

Firstly

is investment purpose, if the buyer expects a capital gain from the increasing value of the asset from the initial

price

.

For example

,

people

decide to buy a

house

located at a strategic location near the development plan of a certain area

that is

projected the

price

of the surrounding land will grow over time.

Secondly

is a symbol of status in society, asset ownership is sometimes seen to define the position in society. If a person wants to be considered wealthy, they need to have a lot of properties.

This

effect will make the

price

of the

house

not present the actual value of the asset itself. It will create a phenomenon

that is

called a bubble economy. It happened when the

price

of the

house

rises uncontrollably, whilst not followed by the buying power of some

people

. The disaster will happen if the balloon burst

,

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when there are many

of

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housing capacities but no

people

can afford to buy any of them. It

also

created some housing problems when the number of

people

significantly grow but there are not enough spaces to provide ideal housing for them. The government has to interfere by applying strict rules and regulations to limit some

people

having many assets to manage the

price

of housing in their country at a reasonable rate. To sum up, the assumption about it is preferably to own a

house

based on two reasons, it is considered as one of the investment instruments and it becomes the symbol of status.

However

, it will create many negative effects,

for instance

, low housing availability and a surge in property prices.