In several countries, for people it is significant to have their own house rather than renting one. The primary reasons are to feel safe and do not have to move from one place to another constantly and also if the rent prices goes up then it will effect them badly and this is a postitive situation.
To begin with, from older generation to the current modern generation, people always want to buy homes than living in a rented place. It is because living in a rented place means onces their contract period is over. These individuals have to move to another place if they are not able to renew their current contract. Furthermore, this is a bad sitution and finding a new place in metropolitan cities are extremely hard. For example, finding a house in cities like delhi are nearly impossible because of that these people live in rural area or in unsafe living areas.
To continue, not only getting a rented house is impossible but also the price of rented houses in major cities constanly changes due this the people who are living in rented house could faces financial crisis, if they are not financially sounded. For Instances, in the major cities in India, the tenant always increase the prices of the rooms because their is no proper authorities to control these situtions. This cause significant financial problem to the people who are living in the rented flats.
To conclued, in various conutries people preffered to buy flats or house instead of renting one because of the unpredicated changes in the price of rented house and also people prefer to stay at one place rather than constant moving from one place to another constantly from one place another and it is a postive development.