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?

In some places, it is common that

people

would prefer buying a home to renting one due to several reasons. In my opinion,

this

is an overall negative tendency because of its drawbacks to the development of nations. Admittedly,

people

who are in favour of owning

houses

might base their position on the fact that the price of real estate is seriously increasing,

thus

buying one early can help them to save money or even generate profit from them.

This

is because the growing population in some countries leads to higher demand for accommodation, especially in big cities.

Therefore

, the price of

houses

has been pushed over the

last

decades.

Furthermore

, because real estate is valuable and its value rarely decreases with time,

this

is

also

an investment.

That is

to say, many owners can take benefit by renting their

houses

or selling them to other customers.

However

, from my perspective,

this

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

buying

houses

results in the unaffordability of many young

people

for them, resulting in a lack of living places in the future. As for the former, the revenue obtained from selling

houses

is only advantageous for owners, not the whole economy.

Therefore

, investment in

this

category will reduce the chance that other important sectors

such

as manufacturing can receive an adequate amount of money, which might diminish the development of nations. In conclusion,

although

many

people

want to buy

houses

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

trend is overall negative.