Rent vs. Own

Housing serves as a shelter for all the people and their family, satisfying their main physical need and holding the equipment people need for their daily routines. Although the necessity of having a housing unit is clear, owning a house has become fashionable and is looked upon nowadays as a long-run investment decision which provides stable and rather good return. In this scope, the tenure choice, or the decision whether to own a house or to rent, is a personal choice, which depends on personal financial situation as well as socio-cultural factors as the desire for independence and security connected with owning a house rather than renting.

This issue has raised many discussions among scholars on the factors that influence the tenure decision and whether the decision is rational. Especially such works have become important after several amazing rises in the house prices, which were then followed,...
[ View Full Essay]