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W10 - Handout

The trend of living alone in developed cities has both positive and negative implications. On one hand, it fosters independence and boosts housing demand, benefiting the economy; on the other hand, it can lead to loneliness and increased living costs. Overall, the rise in one-person households presents a complex mix of outcomes for individuals and the economy.

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Trần Ngọc Lan Khuê
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23 views1 page

W10 - Handout

The trend of living alone in developed cities has both positive and negative implications. On one hand, it fosters independence and boosts housing demand, benefiting the economy; on the other hand, it can lead to loneliness and increased living costs. Overall, the rise in one-person households presents a complex mix of outcomes for individuals and the economy.

Uploaded by

Trần Ngọc Lan Khuê
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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In recent years it has become far more normal for people to live alone, particularly in large cities

in the developed world. In my opinion, this trend could have both positive and negative
consequences in equal measure.

The rise in one-person households can be seen as positive for both personal and broader
economic reasons. On an individual level, people who choose to live alone may become more
independent and self-reliant than those who live with family members. A young adult who lives
alone, for example, will need to learn to cook, clean, pay bills and manage his or her budget, all
of which are valuable life skills; an increase in the number of such individuals can certainly be
seen as a positive development. From an economic perspective, the trend towards living alone
will result in greater demand for housing. This is likely to benefit the construction industry,
estate agents and a whole host of other companies that rely on homeowners to buy their
products or services.

However, the personal and economic arguments given above can be considered from the
opposite angle. Firstly, rather than the positive feeling of increased independence, people who
live alone may experience feelings of loneliness, isolation and worry. They miss out on the
emotional support and daily conversation that family or flatmates can provide, and they must
bear the weight of all household bills and responsibilities; in this sense, perhaps the trend
towards living alone is a negative one. Secondly, from the financial point of view, a rise in
demand for housing is likely to push up property prices and rents. While this may benefit some
businesses, the general population, including those who live alone, will be faced with rising
living costs.

In conclusion, the increase in one-person households will have both beneficial and detrimental
effects on individuals and on the economy.

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