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

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view is a positive development and

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essay will elaborate more on the issues.

To begin

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

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, 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.

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, 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

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

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

Secondly

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, 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.

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phenomenon makes property a safe investment instrument.

In other words

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, a high profit makes people eager to buy a house

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

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as confidence feeling and

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yields more profits.

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