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?

Many

people

in several countries believe that having a home is a crucial thing

while

others contradict

this

idea. In my opinion,

this

is a result of our old generation's perspective and I think

this

speculation will lead to another problem. Our parents tend to think property, especially a

house

, is an asset and a good

investment

instrument.

As a result

, the millennials were influenced by

this

thought as well and now compete to buy it as soon as possible using instalment schemes that impose interest increments gradually which are usually already above the asset value.

For instance

, banks will implement 12% interest per year to purchase a residence meanwhile the actual price is only 10% increased. That means buying a

house

with an instalment scheme is no longer a good

investment

since it cost above than it should. Since a home already costs a big amount of money, many middle age

people

are unable to afford it, and

this

is understandable. But, our society is more likely underestimates

people

who still lease their building. Our old young

then

feel the pressure and feel stressed and depressed if unable to own a

house

.

This

situation is not good for mental health. In fact, renting a building actually has more advantages.

For example

, since it will only cost cheaper than buying one, the budget can be allocated to a better

investment

such

as stocks, deposits, etc which will provide a bigger profit rather than paying instalments for a

house

.

To sum up

, old-school thought is what brings to the idea of the importance of having a home.

However

, if not achieving it, some

people

might be pressured and bothered psychologically.

Furthermore

, purchasing a

house

is a worse

investment

option compared to securities.