In some countries, most people prefer to rent their homes rather than buying them. Why might be the case? Do you think this is a positive or negative situation?

In

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contemporary era, owning a home is becoming an imperative component of a human's life. These days, it is a noticeable prevailing scenario that in a few nations, the populace chooses to rent their place of stay rather than purchase it.

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, the prime reason behind

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ongoing trend is the factor of unaffordability for the majority of people in regards to buying a home for themselves. In my opinion, I side with my conviction by considering

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as a non-constructive condition as

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horrid shift is keeping individuals deprived of being able to save their money and purchase a dwelling for their living. Embarking on the discussion, the majority of the developed and underdeveloped countries are suffering from housing crises where the prices of a living unit has become extensively unaffordable leading the denizens to rely on renting a place to consider it as their shelter.

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, the demand for building new housing units is surging exponentially

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various factors like unavailability of raw materials, growth in the population or deteriorating quality of older houses raising a need to replace them with newer ones which will cause the supply rate to plunge substantially and will develop into the condition of scarcity of new homes.

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,

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prevalence leads to an escalation of the

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prices of a dwelling within any country forcing humans to depend on the renting alternative.

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, as per a published report from the OECD Quality of Life Organization, more than 15 developed countries from all the total OECD nations are currently in the bizarre situation of housing shortage crises.

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, considering the spread of

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phenomenon, it can lead to a negative development as more and more people will be deprived of buying a place to live which eventually unwillingly forces them to spend the majority of their savings on rent.

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ongoing trend will draw individuals into a state where they will never be able to save money for their house eventually ending up in an appalling condition during their old age times when they will retire and won't have any mode of remuneration to pay for rents of their respective stays.

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,

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perilous situation will impact the quality of life of the populace living in any part of the world.

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, as per statistics published by a well-known magazine company from the USA, the number of homeless denizens is rising in the country every year

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the sole reason of not owing a home for their own stay. Having said that, in many places around the globe, humans prefer the option of renting a living unit

instead

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of buying one for their own as the affordability rate to purchase a dwelling has declined noticeably turning it up into a non-fruitful change for everyone as unwillingly they have to keep spending after their rents which will eventually diminish their standard of living.