This paper tries to examine the factors that influence the choice of housing tenure for individuals across the globe. Factors such as demographics, social, economic and policy perspectives all play a key role in shaping the choice of tenure for those individuals. The choice is dependent on other factors like the age, household structure, price-to-income and price-to-rent ratios of the person, housing allowances and other such key factors. This paper also takes into consideration which choice is more prevalent in different countries and the reason behind it. It also takes into consideration factors such as the level of urbanisation and migration present in the country, as well as the societal and cultural norms of the country. Global Comparisons show that there are many differences in the choice of tenure, with developed economies showing vast differences between the amount of renters and owners, while developing economies like India face many challenges, including affordability problems, a high number of empty houses and uneven distribution between the number of renters and owners. This paper also takes into account the role of the government and their policies pertaining to taxes and incentives, reduction in interest on mortgages and home loans, as well as fewer taxes for homeowners promote homeownership, while poor and strict rules and regulations often make renting a more inefficient choice and have a major impact on the housing market for renters. Historical trends of housing taken from 2 decades, 2005-2015, 2015-2025, indicate changing patterns in the choice of tenure by individuals influenced by various key factors such as increasing prices and interest rates, higher inflation and fluctuations in the housing market have caused a difference in the choice of tenure. This paper also tries to examine the price-to-rent ratios and their impact on housing, along with the impact of interest rates, showing how these key factors can shift a person's choice from owning to renting or vice versa. Lastly, the paper analyses long-term sustainability and future outlooks for the housing tenures, highlighting the importance of policies as well as paying attention to the problems related to housing, such as vacancy and enhancing the understanding of the choice of consumers across the globe to figure out what tenure choice is most suitable for the future, with reference to their countries.