In some countries, owning a home rather than renting one is very important for people Why might this be the cause? Do you think this is a positive or a negative situation?

In

this

increasingly global world, the cost of living is skyrocketing day by day.

Thus

, many individuals are considering spending their lives in rental

homes

rather than building their own.

However

, the causative mechanisms of

this

phenomenon are different from one's perspective. In

this

essay, I will elaborate causes and discuss whether

this

is a positive or a negative upgrade to society.

Firstly

, the cost of living in the cities is significantly higher and most people do not have a massive budget to allocate for accommodation.

Furthermore

, as the cities constantly get congested with the working population and their families, the lands to build individual

homes

are declining. So, there is a disparity between the availability of lands and an individual's ability to finance.

For instance

, the concept of renting out apartments became largely popular among the working crowd in Delhi. Those who rented, lived for a few years until they achieved their goals and returned to their hometowns later. So rental

homes

have positively impacted that cohort and boosted their economy.

Secondly

, the majority of people want to lead a dynamic life rather than a monotonous life. Especially, the younger generations want to change their lifestyles and their living atmosphere in accordance with trends. Rather than investing a large sum of money in one place, they prefer to spend less by renting

homes

, so they have the autonomy to choose

according to

their needs at that time.

This

is exemplified by the research done on young parents in Korea where they found out that more than 60% of parents chose to live in multiple housing areas rather than staying in one. So, it is evident that most youngsters are more inclined to choose change over stability. In conclusion, rental

homes

are an excellent opportunity to bring change to life.

Thus

, it has become the choice of a greater number of population in the recent years