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?

In the modern era where the population has significantly risen, owning a house has become essential. In certain nations, individuals who own homes have the financial upper hand compared to those that don't,

due to

homeowners not having to pay rent.

This

may be caused by many factors, one of them being the huge portions of people's salary going to rent.

Moreover

, the issue has been slowly developing and is serious, and big enough to lead to economic depressions worldwide. In normal circumstances, having a home in possession isn't necessarily important.

However

, as the population has significantly risen, it's more difficult to house everyone. Which eventually led to housing prices skyrocketing.

As a result

, individuals that don't have houses, have to pay handsomely for rentals.

Whereas

,

on the other hand

, those who

initially

owned houses do not need to pay anything.

Furthermore

, homeowners rent out their property and make an extra income. The problem ,

however

, is much greater in countries with small land areas and huge populations. The majority of residents in

such

countries do not own any houses but live in rentals.

As a consequence

, many pay ridiculous amounts per month just to have a roof over their heads.

On the contrary

, a small portion of people who had homes in possession has become filthy rich. The issue certainly is extremely detrimental to a great number of citizens across the world and is very much negative.

For instance

, if renting was not overly expensive, humans would have more money in hand to spend on themselves. But, because it is, we are left with money barely enough to live off of for a month, and nothing to please ourselves.

Additionally

,

due to

the unfortunate ,situation we're in, our mental health is

also

declining.

To conclude

, the detrimental development of the housing prices skyrocketing led to the major financial advantage homeowners have over non-homeowners. To elaborate, the crucial need to own a home is primarily caused by us having to give away a big chunk of our salary just to have a place to sleep. And it's extremely negative because of our slowly declining mentalities

due to

our inability to please ourselves.