Housing Affordability Research Paper

543 Words2 Pages
bulb-icon

Recommended: Demand and supply factors in housing affordability in australia

How Building Disputes Can Affect Housing Affordability Housing affordability for first home buyers (FHB) in Australia has been broadly declining since the early 1980s. The latest data point to a fragmented outlook for the residential building industry. Two contrasting sub-groups of homeowners exist in Australia: outright buyers and mortgaged home owners with the FHB dominating the latter. Housing prices have however, remained tight, suggesting a lack of pricing freedom by suppliers with only the subbies on the negotiating table. Building disputes in the construction industry vary from small misunderstandings to full-blown fallouts. Both of which are damaging and a downright waste of time and money. The FHB has better things to do with their time. Money Flow Disputes also contribute to the inflation of future building. The $7 billion problem in Australia represents the amount of money drained from its economy annually due to payment disputes, contract disputes, and lack of transparency. (This doesn't account for the lost time or emotional unrest) This $7 billion is about 3% of all construction work in Australia. For businesses to stay afloat, this cost passes to the …show more content…

Although a step in the right direction, it would be foolhardy to assume the supply of housing as the only factor affecting housing affordability. Getting your residential piece of land titled, and your design subsequently approved, for example, can take an upward of 12 months which is ridiculous. FHBs can't afford these costs whilst paying rent. They cannot afford disputes either and the Building Commission levies imposed on the FHB to pay for costs generated by the more affluent consumer is unfair. There are repeat complainers, and those that lodge a complaint at every progress claim. (the rationale being that the current $212 is cheaper than an independent building

Show More
Related

  • FHA Loan Requirements and Qualifications

    749 Words  | 2 Pages

    Whether you are a first time home buyer or a seasoned home buyer, it is important to be aware of the requirements, policies and procedures that could potentially assist you with your home buying needs. As frequently evidenced, the housing rules keep changing. The government keeps proposing new funding programs and the stipulations that need to be met by buyers are ever changing. Staying abreast on these details will help ensure you have a smooth and valuable home buying experience.

    Read More

  • Urban Housing Dbq

    563 Words  | 2 Pages

    In the Late nineteenth century the population was growing at a rapid pace. The country had people flooding the biggest cities in the country such as New York City and Chicago. These populations were gaining more and more people every single year and the country has to do something to make places for these people to live. The government would go on to create urban housing programs. These programs were created to make homes for these people to live in. At the time it provided a place for people to live but as the populations grew it became a more cramped and rundown area because of the large populations in one place. These reforms eventually led to these areas becoming dangerous, they were rundown, and it created a hole that was difficult for people to get out of.

    Read More

  • Housing Crisis in Scotland

    1500 Words  | 3 Pages

    The lack of available social housing is mainly due to stock levels steadily diminishing each year since 1980, after tenants bought nearly half-a-million council houses under the ‘Right to Buy’ scheme. This coupled with the decline in house building; which is currently at its lowest level since 1946, has brought about a shameful lack of affordable public housing (Turffrey, 2010).

    Read More

  • Housing Affordability Crisis In The Bay Area

    678 Words  | 2 Pages

    As the lease of my apartment is coming to an end it had me thinking of achieving my own American Dream of home ownership but as I do my research I find the dream is far from coming true. I am sure that the issue of housing prices and rent rates are what most of us Bay Area residents talk about and debate. It is an issue that needs to be addressed by the officials of the area, city mayors, affordable housing committees, social justice activists,lawmakers, and even employers. Skyrocketing prices, low inventory, and investors’ bidding wars are not only pushing the middle and lower classes out of San Francisco and the Bay Area out but will completely eliminate them.

    Read More

  • Canada Housing Market Essay

    1252 Words  | 3 Pages

    “The housing market will get worse before it gets better” –James Wilson. The collapse of the United States housing market in in 2008 was one of the most devastating moments for the world economy. The United Sates being arguably the most important and powerful nation in the world really brought everyone down with this event. Canada was very lucky, thanks to good planning and proper preventatives to avoid what happened to the United States. There were many precursor events that occurred that showed a distinct path that led to the collapse of the housing market. People were buying house way out of their range because of low interest rates, the banks seemingly easily giving out massive loans and banks betting against the housing market. There were

    Read More

  • Essay On Affordable Housing

    661 Words  | 2 Pages

    Have you ever noticed that while you’re driving around Austin that the homeless have become a common casualty to exhibit. I know the first thing that comes to mind is, “How ridiculous, why don’t they just get a job!”It perfectly acceptable to wonder, whether your money would go towards feeding a starving stomach or a drug addiction, therefore your generosity would be put to better use through a charity foundation or simply by offering a meal. The reality is that the majority of people who are homeless are unable to work due to certain disabilities. In other words, the best response is compassion. There is only so far we can do as a community, the major change has to come from a superior source, which is why I propose that the City of Austin ought to step up and diminish this problem. The City of Austin should build more affordable housing and assistance programs because it will help reduce homelessness.

    Read More

  • Affordable Housing In Canada

    1091 Words  | 3 Pages

    Affordable housing refers to housing units that are affordable by that section of society whose income is or below the median household income. For example, affordable housing should address the housing needs of lower or middle income households. And for sustainable communities, it is one that is economically, environmentally, and socially healthy and resilient.. According to the Western Australia Council of Social Services (WACOSS): "Social sustainability occurs when the formal and informal processes; systems; structures; and relationships actively support the capacity of current and future generations to create healthy and livable communities.” As we can tell, all affordable housing, sustainable community, and social sustainability are

    Read More

  • Housing Choice Voucher Research Paper

    282 Words  | 1 Pages

    Some of the federal programs that are in place to address the low-income housing needs include public housing, which is subsidized by public funds, along with rental assistance through the Housing Choice Voucher Program (Section 8). The Housing Choice Voucher Program provides low-income families with a voucher to help pay for a portion of their rent. In order to receive a voucher, the household must make less than a specified amount given the number of individuals contributing to income. Section 8, along with other federal programs tend to lack the funding necessary to support low-income housing needs. These programs are in place to help facilitate affordable housing for "people who are at great risk of falling through the

    Read More

  • Affordable Housing for Low Income Families

    584 Words  | 2 Pages

    Terner presents the beginning of a solution to the affordable housing problem in his article Affordable Housing: An Impossible Dream? in The Commonwealth, published June 1994. His company founded from an anonymous $600,000 donation is a non-profit organization that builds quality, affordable housing for low-income families. Its effects, however, are limited. One project just opened in San Francisco with 3,000 applicants and 108 acceptances, which can be looked at as pretty dismal statistics. “This is just a drop in the bucket,” writes Terner, ‘the real question is how to expand and replicate.” (Terner, p. 392) It is this expansion that the bulk of the article argues for. Terner values a fair chance for all citizens at the “American Dream” and this chance involves the whole community. Terner mentions the “NIMBY” syndrome, or Not-In-My-Back-Yard Syndrome, where communities support the concept of affordable housing, but none that are to be built in their community. Ideally one could turn to the government for help with problems such as housing, but National, State, and local governments have proven themselves to be ...

    Read More

  • Housing Inequality Sociology

    1132 Words  | 3 Pages

    Compare and contrast the ways in which housing inequalities are discussed from the perspectives of social policy and criminology, and economics (TMA 02)

    Read More

  • Trials of Being a Homeowner

    814 Words  | 2 Pages

    ... A home is a material object that exists within a concrete reality. It exists with its own qualities, a house built of materials that change and degrade over time. The costs of homeownership are harder to dismiss when one becomes disillusioned with the effects of a lack of attention to those costs. As someone with a passion for writing, my final project will be an extended expository essay about the history of homebuilding from ancient to modern times.

    Read More

  • Affordable Housing Crisis

    1080 Words  | 3 Pages

    Affordable housing in the United States describes sheltering units with well-adjusted housing costs for those living on an average, median income. The phrase usually implies to applied rental or purchaser housing within the financial means of lower-income ranges specific to the demographics of any given area. However, affordable housing does not include those living in social housing owned by government and non-profit organizations. More specifically, the targeted range for housing affordability sets below 30 percent of a household's annual income, including all applicable taxes, utility costs and home owners insurance rates. If the mean income per household breaches the 30 percent mark, then the agreed status becomes labeled as "unaffordable" by most recognizable financial institutions.

    Read More

  • Buying A Home

    1232 Words  | 3 Pages

    Buying and owning your home is part of the American dream. Although the dream itself has since changed, the home still remains the main focal point. Today owning a home doesn’t necessarily mean a house. People now buy duplexes, cooperative apartments, and condominiums. For some families it could take up to a couple of generations before it’s able to have the capabilities of buying a home. To many people it means a certain achievement that only comes after years of hard work. It is a life altering decision and one of the most important someone can make in their lifetime. The reasons behind the actual purchase could vary. Before anything is done, people must understand that it’s an extraneous process and it is a long term project.

    Read More

  • Pros and Cons of Buying a Home

    1906 Words  | 4 Pages

    An option for individuals look are looking to buy property have the option to purchase a house. The advantages are: “pride in ownership, privacy, own land, tax benefits, fixed rate, security, and can renovate to their desire. The disadvantages are: less flexibility, mortgage has interest, more stress about money, requires down payments, closing costs, and moving costs, need to have a fixed income/stable income, and bank may take over house if payments are not made” (Zillow, May 12th 2012 ). Pride of ownership is advantage because it gives those individuals accomplishment feeling and shows their hard work paid off and do not have to deal with landlords anymore” (Free Advise Staff, unknown date). Privacy is another advantage because it gives the homeowners the freedom to do whatever they wish and not worrying that they will break the rules. Owning land is an advantage because “every time you pay off your mortgage individuals are gaining equity and increasing your assets” (Chapman’s lecture, unknown date). Another advantage is individuals will get a “tax benefit which will help pay off the interest of the mortgage and increases income” (Kirlew, Unknown date). Security is an advantage because in the “long run if some individuals want to have kids those individuals do not have to worry about moving each year, but instead helps their children grow up in a ...

    Read More

  • Cause And Effect Of Homelessness Research Paper

    1327 Words  | 3 Pages

    Homelessness is a crucial factor as to why Americans don’t achieve the ideal “American Dream”. Homelessness is a social issue that affects a widespread group of people, ranging from single individuals to families each year. Many of those who are currently homeless, don’t choose to be homeless, but are forced into living on the streets for reasons such as a financial crisis, divorce, unemployment, mental illness, drug or alcohol abuse, or even a natural disaster that triggers the rising problem of how these individuals will survive. Annually, 3.5 Americans experience an episode of homelessness. That is 75,000 people experiencing homeless each night that others of more comfortable means will never have to experience. (Thompson). Homelessness

    Read More

More about Housing Affordability Research Paper

Open Document