In some countries, owning a home rather than renting one is very important for people. Why might this be case? Do you think this is a positive or negative situation?

It is often opinionated that having a home is more primary than renting one in some countries. A fluctuating economy and a steady rise in

property

value might be the causes of

this

situation. I believe

this

is a positive

condition

as it will benefit people financially in the future.

Firstly

, economic fluctuation could influence

property

prices significantly, especially in a turmoil

condition

. Renting fee really depends on the interest rate

that is

decided by the government at a given

time

.

As a result

, the cost is not constant and changes over

time

, creating an uncertain

condition

.

In contrast

,

property

value is steadily increased over the years because its supplies far exceed its demands.

In other words

, the

property

price

is stabler than the renting

price

over

time

and it creates more confidence in buying the home.

Secondly

, the condo

price

nature that yields a steady increase annually could become a new investment instrument for the owner.

Moreover

, a condo is a shelter where the owner lives, so they could invest while living in it at the same

time

.

In addition

, the

price

also

hikes consistently, yielding some profits every year for the landlord.

This

practice is so common that even people are buying an apartment just for the sake of profit, not as a residential building.

For instance

, a house in Beverly Hills was worth around $1 million and it just sold for around $10 million in 2020, giving $9 million profit over 12 years for the possessor. To summarize, a recent preference for owning a house over renting one might be caused by the economic

condition

and the attractiveness of it as an investment instrument. Given

by

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those reasons, I believe it is a positive situation as it gives many advantages to the possessor.