In some countries, owning a home rather than renting one is very importatnt for people. Why misht this be the case? Do you think this is a positive or negative situation?

In some

part

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parts

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of the world, purchasing a home is of great importance to folks in comparison to renting.

This

a matter of

value

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the value

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of the bought houses

in contrast

to living in

temporarily

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temporary

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places by paying

rent

.

This

phenomenon could be

due to

the

socio-economical

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socioeconomic

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status of those countries. It can be

deducted

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deduced

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that

this

can be a positive response to

unstable

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the unstable

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financial situation of the environment, by owning a property and

also

lowering the cost of living in the long run,

therefore

improving the quality of life. The poor management of

economical

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economic

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status in a country could result in high inflation and highly

volitile

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volatile

asset markets

that

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and

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owning a

house

would be

solution

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the solution

a solution

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to that problem.

For

instance

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instance,

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in some 3rd world countries like

Iran

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Iran,

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the cost of

rent

will rise dramatically from time to time as

the

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apply

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inflation grows.

Thus

owning a property

such

as a

house

, could be a way to live more reliably rather than renting one. So we can see the

favor

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favour

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of owning a living space rather than renting one because it would be an investment.

In

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From

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a different point of

view

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view,

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we can see how acquiring a

house

would be better for the bigger picture.

For

example

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example,

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if you are to pay

rent

for 2000$ each month for about 5 years steadily will cost you more than to buy a

house

for 100,000$ in the first place, which we can see that

this

would be

more

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a more

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financially reasonable course of action

in contrast

to

rent

so it is a better choice to buy rather than to

rent

.

To conclude

we can see why owning a living space could be more beneficial to some people compared to paying

rent

. It is believed by

this

essay, that in an unstable

economic

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economy

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is better to be an owner than to be a tenant. The prediction would be that people tend to buy houses more in certain times and places because it is better suited for the occasion which is viewed as a positive outcome.