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?

It is often opinionated that possessing a physical home is a primary matter for some folks in some regions to gain confidence and become their investment instruments. I believe that

this

view is a positive development and

this

essay will elaborate more on the issues.

To begin

with, having an apartment gives confidence to its owner from an increasing rental cost due to inflation.

Moreover

, the inflation rate has recently been skyrocketing to a new high every year, making rent fee increases unavoidable. If we calculate precisely, buying an apartment is financially beneficial in the longer term.

For example

, an apartment in New York City worth $1 million in 1990 with a rental cost costs up to $10.000 a year. By 2020, it worth $10 million with the rent fee costs up to $1 million a year. By looking at

this

case, if people decide to buy a house in 1990, it will prevent them from an increase in the rental cost.

Thus

, owning a condo could avoid the owner from uncertain rent fee increases.

Secondly

, a house could become an investment tool which will give a huge yield annually. Due to high demand and limited supply, property price increases consistently.

This

phenomenon makes property a safe investment instrument.

In other words

, a high profit makes people eager to buy a house

instead

of renting it. In conclusion, owning a home gives many benefits

such

as confidence feeling and

also

yields more profits.

Thus

, because of its many positive sides, possessing a condo is a positive situation.