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 ?

For human beings entering into a tenancy contract is not as imperative rather than possessing an accommodation, in a few nations.

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essay supports the above-mentioned notion and will

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discuss cultural norms being the cause and how the already financial liability attached can be used as a mortgage,

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, incapability to accept change, followed by a reasoned conclusion. In most Asian countries, having a permanent abode is attached to accomplishment in life from ancestral times. Where it was considered that an individual has achieved all that life has to offer if he or she has a title to an accommodation.

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is why

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is a societal and cultural norm now in

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nations and many inhabitants look forward to a dwelling berth for their personal attainment.

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,

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norm has changed societies constructively, where now person lead their lives according to plan towards a home where they imagine themselves to settle down along with their families. Either, way there is a financial liability attached to one's disposable income, which is rent if you live as a tenant and as mentioned earlier the community is changing,

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spend on rent can be utilised as a mortgage payment. Which would not only give a gradual possession of a personalised house but

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a sense of achievement.

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, in the past small colonies have been the foundation of now large cities due to the fact that many wanted to start families in a region

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entirely theirs and where they could create lasting memories.

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, in 2020 a survey conducted by Investopedia displayed that nearly 86 per cent of people if given the choice and circumstances would convert their rental liabilities to a mortgage just because it would give them an indefinite residence to tuck in and see their grandchildren get old.

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, since properties are immovable and fixed assets, they cannot move along with people and they seemed to be confined to one single site and an area, which reduces the appetite for risk and makes them incapable to accept change. Since these men are now knowledgeable about a certain city they are living in for many years, they have with time developed a comfort zone that very few would break and let alone would move to other countries.

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not only compromises the new plus better opportunities that lay beyond the boundary wall these permanent residents have created around them,

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,

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in some cases leaves them behind on exploration.

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, in 2015 research published by the psychology department of the University of Stanford showed that nearly 65 per cent of women who owned a permanent apartment would prefer to stay there until they leave for a heavenly abode due to the enduring attachment they had. In conclusion, belonging to a permanent area has its own pros and cons.

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, in my opinion,

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is an optimistic development and it is beneficial to tie your financial liabilities to the goal of having ownership of a place an individual can call their quarters.