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

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in several nations

,

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assume having a

house

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is more essential than leasing one.

This

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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

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with, there are two approaches that are used by some

people

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that want to consider buying a

house

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.

Firstly

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

price

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.

For example

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,

people

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decide to buy a

house

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

that is

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projected the

price

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of the surrounding land will grow over time.

Secondly

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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

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effect will make the

price

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of the

house

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

that is

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called a bubble economy. It happened when the

price

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of the

house

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

people

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. 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

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can afford to buy any of them. It

also

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created some housing problems when the number of

people

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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

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having many assets to manage the

price

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

house

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

However

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, it will create many negative effects,

for instance

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, low housing availability and a surge in property prices.