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 is positive or negative situation?

Nowadays owning accommodation has become to be most people's number one priority. I believe due to the fact that financial circumstances may be unstable in
future
, that would be an advantage to possess a home
instead
of renting that. The
first
and foremost reason why people tend to make tremendous efforts to have a place on their own is that it will secure their
future
from a financial point of view.
In other words
,
although
they have to take out a big mortgage and repay them for several years, in near
future
, when the loan has been paid off, they will not have to worry about either the astronomical rents, which would be in store for them or the landlord asking them to move out.
Moreover
, another point to consider is it can be a way to assess people's success.
For example
, in the country where I live, everyone's achievements could be judged by counting what they own, the more expensive their house is the more successful they will be perceived. From my perspective, house owners are going to reap the benefit of what they have considering the situation in which the rate of inflation is high ,especially in underdeveloped countries. They are, inevitably, going to be poorer day by day if they do not have anything on their own.
Besides
, the purchasing power of disadvantaged citizens will be halved or even less.
For instance
, in some developing regions, it has become a nightmare even to think of having a house by themselves.
This
all is, obviously, because of the increasing prices in those countries experiencing rising inflation. In conclusion, I opine that since the financial situation is not something predictable and it could worsen particularly in
third
-world countries, it is of great importance to buy a dwelling rather than rent it even if it requires a great deal of money and time in order to guarantee the
future
economical obstacles.
Submitted by akramrahbar on

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