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 some countries, people value having their own property because it gives them a sense of achievement, it’s normal as a human when sometimes we need to claim ownership of something. Owning a house can give us control of our own properties when renting one is more limited. Renting a home has some advantages, we don't need to spend huge amounts of money to buy the ownership. Another benefit to renting a home gives us the flexibility to move to another place, when we have another place to work, it will be easier when we do not own a house and feel free to rent in another place. In the journey of owning a building, some people prefer to use debt. Having to sign a contract means we agree to pay the interest. Talking more about mortgages, we can flash back to the year 2008 when the United States went through the Subprime Mortgage Crisis. The interest rate increasingly hikes and many homeowners are unable to afford the monthly payment. That crisis began with cheap credit and easy-to-get debt even if they have bad credit scores. That situation allows too many people to try to own a building, that opportunity makes the prices of the property rise and hits the bubbles. When the estate bubble bursts, the real estate market is going to slow down, cause a huge impact on the economy and turn into a crisis. From that perspective, owning a house with easy debt has a negative trend. The sense of achievement in having our own building is not always beneficial, sometimes it gives a stressful feeling when the homeowners fail to pay the interest. In that condition, I would rather choose to rent a residence, than invest some money until I have the sum of money to pay for the home with cash. It will give us a truly proud feeling as a homeowner.