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 a positive or negative situation?

No one can ignore that having a house on your own becomes a priority for a

number

of people as it can give them more financial stability than renting a flat or house. In my opinion, I think that sometimes it may be a drawback for a

number

of people. Owning a

home

, from the financial perspective, means high fixity economic status. Due to the increase of economic issues in numerous countries around the world, the prices of

home

rise day after day, which is followed by a growth in the renting prices.

As a result

, a

number

of families suffer from the expulsion from their homes because they do not afford the rise in rent prices.

For example

, the

last

study about the economic status in America found that about 57 % of tenants left their houses and lived in their cars by the end of 2022 owing to a high budget

that is

needed to rent a house.

However

, I think purchasing a

home

or an apartment can make the person less happy.

This

is owing to the fact that numerous individuals have borrowed hundreds of thousands of dollars to merely buy a settlement for themselves and their families, which will prevent them from doing a plethora of activities. After paying their mortgage every month, there will be a bit of money to afford other living expenses

such

as food, education

moreover

entertainment. To sum up, the main reason why people are willing to buy a

home

is that they think it will increase their perceived finical standing.

However

, owning a

home

has a

number

of ups that will make the owner happy, it may make him sad if it was bought with borrowed money.