To avoid paying high rent, most people would prefer to own their own houses. Real estate could act as a hedge in my country, where inflation is high and there are no other investments opportunities in a developping country.
It's not just about money to own a house; freedom and comfort are also important. Owning your own home provides you with privacy and peace of mind because people who offer houses for rent can be difficult to deal with. So, since houses are regarded highly as an inheritance in my country, it should come as no surprise that the majority of parents wish to acquire additional residences, even as a retirement plan.