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 different regions of the world, most of the mankind prefer to buy a home and be an owner of the

residence

than be a renter and it is a serious decision for them, In

this

essay, I intend to explain the reason for

this

happening

while

I personally consider the positive aspects of that situation is more than drawbacks of that. There are different explanations why might

this

be the case, I assume the chief cause might be the inflation rate in accommodation particularly in the

developments

Replace the word

developing

show examples

countries.

In other words

, the economic problem is the main reason for climbing the rent of

residence

and the renter usually has a huge problem with the new

price

of rent every year.

Furthermore

, many commentators justifiably argue that purchasing a home is able to be a good investment in the long run. From

this

point of view, they insist that the statistics display us there is a significant rise in the

price

of accommodation in the long term.

for example

, the average

price

of a

residence

in Ottawa was 400K in 2010

although

that is

upward above threefold in 2020.

On the other hand

, I think

this

is highly beneficial for citizens because the sense of ownership increases the amount of satisfaction of folk from the government.

additionally

, there are those who subscribe to the view that there are several merits when most of the individuals in their countries have accommodation. They consider it is able to bring a sense of relief for them because they are able to live in their cities without any stress and anxiety about the new

price

of their

residence

.

To sum up

, it seems to me, the main reason for spreading demand for owners of residences is the rent rise and the benefit of buying a home in the long term.

Also

, I personally have a positive attitude towards them

due to

the effect of them reducing anxiety among mankind.