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?

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There is no doubt that accommodation is one of the most crucial issues in societies. Whilst proponents hold the view that possessing a house is much more beneficial than renting one for psychological and social reasons, opponents have a diverse perspective. I am of the belief that renting properties can play an essential role in the growth of
economy
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the economy
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.
To begin
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with, many
people
Use synonyms
have a high tendency to buy properties
instead
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of renting them for
a
Correct article usage
apply
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psychological
reason
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reasons
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.
In other words
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, if an individual buys his residence, it will give him a sense of ownership and security. A prime example is Egyptian
people
Use synonyms
who allocate a high proportion of their budget to purchase a flat. Another reason is marriage which encourages the youth to buy houses rather than renting
it
Correct pronoun usage
them
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.
This
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example shows that many young
people
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consider possessing a residential property as a target not just a
mean
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means
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for living.
However
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, purchasing houses may pose a threat to citizens, and it has a detrimental effect on
economy
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the economy
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. To explain, when many individuals invest only in the real state market, it may lead to an economic recession.
For example
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,
third world
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third-world
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countries
which
Correct pronoun usage
apply
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prioritize investment in
housing
Correct article usage
the housing
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industry only,
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however
Add the comma(s)
,however
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they neglect other industries
such
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as education, healthcare and tourism.
Hence
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, what can be said is that authorities should channel more funds into beneficial projects which are quite instrumental in developing the economy in the future. In conclusion,
after
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this
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essay has manifested the points mentioned above, it can be reiterated that there are many causes why many
people
Use synonyms
prefer to
possessing
Wrong verb form
possess
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a home to
renting
Change the verb form
rent
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one. I am convinced that funding
housing
Correct article usage
the housing
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industry only may lead to many
economical
Correct word choice
economic
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issues
on
Change preposition
in
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the long run.
Submitted by drislam999 on

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Topic Vocabulary:
  • ownership
  • renting
  • importance
  • sense of security
  • stability
  • financial investment
  • asset
  • customize
  • decorate
  • belonging
  • community
  • potential
  • future generations
  • long-term
  • cost advantage
  • control
  • living space
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