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 negativbe situation?

In
this
contemporary epoch, myriads of
people
believe that buying a
house
is pivotal rather than being a renter. There are certain reasons behind
this
trend
such
as positive changes in social status ,
although
this
has a negative result that
people
become less happy due to mortgage payments. I believe that
this
notion has both positive and negative outcomes. It is an undeniable fact that most
people
have an ambition to a
house
in their future. community believe that ownership of a
house
could change their social status. By
this
I mean , due to
this
trend property rates are increasing day by day and
people
believe that only the affluent can buy houses.To cite an example, in India , women prefer men who have their own
house
before marriage because they assume that those men can lead a family very easily.
However
, there are a few negative impacts of
this
trend.
People
are in a competition to buy their own
house
by taking loans. While paying monthly mortgages, most of them may not be happy as they could not spend money in a lavish way.
For example
, a survey was conducted by psychology students at Harvard University in 2020 about
stress
and depression due to monthly mortgage payments.
As a result
, about 90 per cent of
people
who participated in
this
survey said that they could not be happy in their own
house
because of monthly EMI payments.In light of
this
survey, the officialdom has started to provide counselling sessions every three months for
people
who have
stress
from the mortgage. In conclusion, it is stated that purchasing a property has merits and demerits
such
as increased social status as positive and
stress
as negative. By attending counselling sessions
people
can get relief from
stress
.
Submitted by jackjohn0590 on

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