In some countries, owing 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?

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In some places, it is common that
people
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would prefer buying a home to renting one due to several reasons. In my opinion,
this
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is an overall negative tendency because of its drawbacks to the development of nations. Admittedly,
people
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who are in favour of owning
houses
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might base their position on the fact that the price of real estate is seriously increasing,
thus
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buying one early can help them to save money or even generate profit from them.
This
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is because the growing population in some countries leads to higher demand for accommodation, especially in big cities.
Therefore
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, the price of
houses
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has been pushed over the
last
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decades.
Furthermore
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, because real estate is valuable and its value rarely decreases with time,
this
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is
also
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an investment.
That is
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to say, many owners can take benefit by renting their
houses
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or selling them to other customers.
However
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, from my perspective,
this
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is an overall trend because it prevents younger generations from having accommodation as well as reduces money for other economic purposes. Regarding the former, more
people
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buying
houses
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results in the unaffordability of many young
people
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for them, resulting in a lack of living places in the future. As for the former, the revenue obtained from selling
houses
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is only advantageous for owners, not the whole economy.
Therefore
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, investment in
this
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category will reduce the chance that other important sectors
such
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as manufacturing can receive an adequate amount of money, which might diminish the development of nations. In conclusion,
although
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many
people
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want to buy
houses
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because it is more financially reliable, doing so could put pressure on future generations for having accommodation and slow down the development rate of nations. Because of the aforementioned reasons, I believe that
this
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trend is overall negative.
Submitted by checkwiring9 on

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Topic Vocabulary:
  • ownership
  • renting
  • importance
  • sense of security
  • stability
  • financial investment
  • asset
  • customize
  • decorate
  • belonging
  • community
  • potential
  • future generations
  • long-term
  • cost advantage
  • control
  • living space
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