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 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

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value might be the causes

for

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of

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this

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situation. I believe

this

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is a positive

condition

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as it will benefit people financially in the future.

Firstly

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,

the

Correct article usage

apply

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economic fluctuation could influence

property

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Use synonyms

price

Fix the agreement mistake

prices

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significantly, especially in a turmoil

condition

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. Renting fee really depends on the interest rate

that is

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decided by the government at a given

time

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.

As a result

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, the cost is not constant and changes over

time

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, creating an uncertain

condition

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.

In contrast

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,

property

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

In other words

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, the

property

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price

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is stabler than the renting

price

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over

time

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and it creates more confidence in buying the home.

Secondly

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, the condo

price

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

Moreover

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, a condo is

the

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a

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shelter where the owner

live

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lives

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, so they could invest while living in it at the same

time

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.

In addition

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, the

price

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also

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

This

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

For instance

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

of

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for

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owning a house over renting one might be caused by the economic

condition

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and the attractiveness of it as an investment instrument. Given

by

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apply

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