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In some countries, people find owning a home is more important
than renting it. In my opinion, this situation is might be the case in the
country with a small land compared to the population. This is because it is
profitable as well as stable.
First, a country with a small land usually have small amount
of house or residential places. When the number of the population exceeds the
amount of properties which can cover it, it results in the high demand and low
supply of house. In this case, people who own the house can earn a lot of money
from tenants.
In addition, if you own a house in a country without many houses,
people can be assured with their place of living in any situation. It is not
easy to find a rent especially in a country when there are too many people are
looking for the scarce options of rental at the same time.
To support my opinion, I would like to introduce my example.
I used to stay in Anapt, one of the countries in Africa. This country was too
small to afford 1.5 billion population. Many people, no matter they are
national or international, were looking for the rent because they didn’t own
any houses. I felt really unstable because I didn’t have a place for a living.
I almost found one, but I had to pay 1,000 dollars every month to the owner as a
rent, which was 5 times of average monthly living cost.
In my opinion, this is a
negative situation. This is because that people will only focus saving money to
own a house, which shrinks the expense on other activities that are necessary
for facilitating economy.
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