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?

Nowadays, renting an apartment is not a vital decision in comparison with having an own house or a flat. In

this

essay, the main causes of

this

phenomenon and my opinion will be discussed. First of all, it should be mentioned that the fact of having their own place to live makes people feel more confident and comfortable because,

according to

financial literacy, when a person has real estate, they can profit from the passive income.

Moreover

, the fact of having a residence is a symbol of stability and security.

For instance

, if a person wants to settle down and start a family

life

, they will never have problems where they can do it.

Secondly

, some facts about

this

phenomenon should be written. In my opinion,

this

situation has plenty of positive effects.

For example

, renting a flat can be increased during your whole

life

, which is why having your own apartment is cheaper and better for your future

life

. It can be mentioned that in the Russian Federation, the rent bill increases each year by 5 %.

Moreover

, in some countries, the level of

life

is becoming worse and worse which means that for some people with small salaries, it becomes impossible to rent a residence. In China,

for example

, the price of new real estate becomes higher and because of

this

fact, especially for adults, it is extremely difficult to purchase a new one and they have to rent the accommodation. In conclusion, the decision of renting versus buying a home is a significant consideration for people. Having a self-own accommodation enables financial flexibility, and

also

provides a comfort zone to individuals after their retirement.