Many people consider that homes are more reliable when they are owned because it is more sustainable option than renting a home. Generation to generation people carry their own culture and it might be attached with home also, so I think it can be a both positive and negative development. I partly believe it is positive development.
On one hand, there are a lot of benefits to own a new house but for many students it is quite challenging. While other individuals think owning home is more sustainable and it might show their prestige in their social life, owning a home is more expensive than rental homes. Therefore, renting houses have several benefits for foreign students or even people because of affordable prices. In my country, a lot of prestigious universities are located in capital, so students tend to choose studying there. Therefore, renting homes are much cheaper option for them to live in than owning new one. Furthermore, one drawback is rental houses cannot be long-term. They are only for certain period to live in. Provided that the huge amount of people live in rental houses, maybe it increases their costs and demand.
On the other hand, many individuals prefer long-term home options than renting one because it has a lot of benefits that they believe in. For example, owning new homes measure their social reputation, it contain a lot of memories, it is probably a heritage from their grand-grandparents. Thus, people believe it has a positive development due to its several wonderful facilities. Owning homes have disadvantages also such as expensive costs. In the last decade, demand on homes have increased and the prices are also, so it is very tough to buy for people who suffer from poverty or they are very young. I think, it is the only disadvantage that I know because I do not see any other downsides.
In conclusion, owning home is a positive development but it may not be for everyone because it is used for in several ways. For instance, it is too expensive for students but more sustainable and reliable for maybe elderly people.