In recent years, the number of residential property buyer has soared with an unmatched speed. In my opinion, this is a negative development and I will explain it in this essay.
One of the key reasons why owning a property is preferred is due to the appreciation of the price in a short period. Consequently, more people can make big-money investing in houses. Everyone involved in the process makes money for example, the seller, the commission agent, municipal office, and also the buyer by reselling the property. However, there are potential risks here if financial institutes are involved. This will result in impacting the global economy if people default the loans. Also, this will create a virtual inflation scenario and increase burden on the people who genuinely need housing.
Morevoer, another reason is that statistically many of the house buyers using bank loans are youngsters in their thirties or forties. They want to get over with the house ownership before their offspring is ready for college education. As a result, they could use house as mortgage for education loan or at least avoiding house rent payment along side college fees.
Sense of belonging, and social status are also important reasons for owning a house. Some people consider rented house as stop-gap arrangement and strive to own a house so that they can live the way they want it.
In some circles, match-making is challening if a groom could not afford his own house. This is leading to a stressful situation as people have to work to the commitment even their physique and psyche are affected.
In conclusion, it can be comprehended that people want to own house for various reasons such as profit, better lifestyle, sense of ownership, or social obligation therefore property price is increasing. This trend would have a damaging impact on both economic growth and individual well-being. Personally, I think this is a negative development.
In recent years, the number of residential
property
buyer has soared with an unmatched speed. In my opinion, this is a
negative
development and I will
explain
it in this essay.
One of the key
reasons
why owning a
property
is preferred
is due to the appreciation of the price in a short period.
Consequently
, more
people
can
make
big
-money investing in
houses
. Everyone involved in the process
makes
money
for example
, the seller, the commission agent, municipal office, and
also
the buyer by reselling the
property
.
However
, there are potential
risks
here if financial institutes
are involved
. This will result in impacting the global economy if
people
default the loans.
Also
, this will create a virtual inflation scenario and increase burden on the
people
who
genuinely
need housing.
Morevoer
, another
reason
is that
statistically
many
of the
house
buyers using bank loans are youngsters in their thirties or forties. They want to
get
over with the
house
ownership
before
their offspring is ready for college education.
As a result
, they could
use
house
as mortgage for education loan or at least avoiding
house
rent payment
along side
college fees.
Sense of belonging, and social status are
also
important
reasons
for owning a
house
.
Some
people
consider rented
house
as
stop
-gap arrangement and strive to
own
a
house
so
that they can
live
the way they want it.
In
some
circles, match-making is
challening
if a groom could not afford his
own
house
. This is leading to a stressful situation as
people
have to
work to the commitment even their physique and psyche are
affected
.
In conclusion
, it can
be comprehended
that
people
want to
own
house
for various
reasons
such as profit, better lifestyle, sense of ownership, or social obligation
therefore
property
price is increasing. This trend would have a damaging impact on both economic growth and individual well-being.
Personally
, I
think
this is a
negative
development.