Housing cost and shortage are the significant problem in Hong Kong. In some housing environment, the living condition is unacceptable. Due to this reason, the wealth-gap becomes wider and wider. According to the 2014 Policy Address, less than 75 percent of private living area has a marketable area which more than half square metres. One of the citizen said he lived in Mong Kok, his revenue could not afford the rent. As a result, he never wishes to have two or more children (119). In this essay, it first determines the reasons what the housing problems in Hong Kong are, and how they can affect people’s living standard.
It is a challenge for the government to find suitable land to build enough housing in the coming 10 years (120). Since the supply of the land is nearly saturation, and considered for others reasons, Hong Kong government might not be able to provide enough units for the public in the short term (120). However, the poorly argued that the government is not willing to engage resources instead of there are not enough spaces. According to the government’s long-term housing strategy consultation document, there are probably 47 million housing units which can be provided (SCMP). The government begins to find land by using different methods such as creating lands or managing developable land. Although housing cost and shortage a huge and convoluted plan, it is an important and urgent issue which the government should solve it (SCMP). Consequently, the government should not give tones of excuses. Having a place to live is the basic requirement for people survival.
The living condition is closely related to the rent. If the government introduces Right to Adequate Housing as the minimum standard, the average living standard ...
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...period. The phenomenon of good wealth accumulation in Hong Kong as shown in the enhancement in Ml and by over 15% each year from 1984 to 1994 (Census & Statistic Department) had added further substance to endorse the home owning ambition.
To conclude, it has been established that housing cost and shortage in Hong Kong is a senior problem, especially for those monthly income below average. It has also been indicated that the government focus on the economy rather than the living quality of Hong Kong citizens. The surveys have delivered that housing cost and shortage in relation to the living quality. Eventually, saving money is an essential issue that people should aware if they want to own a house. For all the above considerations, the government should find a solution that could create a win-win situation. As a result, it will bring less disadvantages to people.
The housing market is very unique as unlike other goods and services, houses have permanence, it is a fixed location good causing the rules of supply and demand to be taken to new extremes. In the case of the Toronto housing market we can view in almost real time the role supply and demand play on he ever increasing house prices, additionally the fundamental economic issue of scarcity is made extremely apparent by the limited size of the city of Toronto.
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.
In conclusion, we have determined that the housing crisis that the United States faces today is a huge problem. We have discussed the striking similarities between the Great Depression in the 1920s and 1930s and today's problem. And I have presented my solution to the problem and how I think it should be prevented in the future.
Housing Affordability in Australia has become the focus point for urban planners in recent years. In particular, South East Queensland (SEQ) has experienced significant pressure as the demand for property and affordable dwellings increases and population growth in the region continues. The issue has come to the forefront in discussions for local governments in the region and there is a real need to address the problem of housing affordability. The subject of affordability is complex and is contributed to by a number of factors including the impost created by Council processes, which is the scope of the HAF-T5 Project.
Instead of focusing on the relationship between federal housing policy and segregation, as does Mohl, DiPasquale explores how rental housing and federal policies affect each other. In her article, “Rental Housing: Current Market Conditions and the Role of Federal Policy,” DiPasquale challenges the federal policies that were in place at the time she wrote her article. She brings to attention her belief that in the past, government policies have given much of their focus to homeowners and little to the renter. Through her research, DiPasquale had found that rental housing had become increasingly less affordable, especially to poorer tenants, who are spending a greater portion of their income on rent. This not only poses a problem to the renters, but also to the landlords, for if the renters cannot pay the rent, the landlords get a vacancy and no income from their property. She also asserts her belief that homeownership is not for everyone, and uses evidence from the recent housing crisis to support her claim. Her article calls for a revamping of current federal policies to level the playing field between home owning and renting. By doing so, households will have more choices available to them when it comes to choosing suitable housing for them
The affordability of housing is one of the most critical factors that determine the well being for Californians. Housing affects people’s lives in terms of education, recreation and choices for jobs. On the state level, the cost of housing has important impact on California economy, affecting the extent to which employers are able to hire and retain workers and influencing their preferences on whether to work and remain in California.
For those of us with warm roofs over our heads and groceries on the table the problem of affordable housing does not often surface. But for low-income families, where half the income can disappear simply trying to keep the family sheltered in an acceptable home, the problem is a daily one. President of the BRIDGE Housing Corporation Donald Terner and columnist Brad Terner argue that affordable housing is a problem that should involve everyone. From your local supermarket clerk to your child’s science teacher, the problem of affordable housing can affect us all.
It is often easy to castigate large cities or third world countries as failures in the field of affordable housing, yet the crisis, like an invisible cancer, manifests itself in many forms, plaguing both urban and suburban areas. Reformers have wrestled passionately with the issue for centuries, revealing the severity of the situation in an attempt for change, while politicians have only responded with band aid solutions. Unfortunately, the housing crisis easily fades from our memory, replaced by visions of homeless vets, or starving children. Metropolis magazine explains that “…though billions of dollars are spent each year on housing and development programs worldwide, ? At least 1 billion people lack adequate housing; some 100 million have none at all.? In an attempt to correct this worldwide dilemma, a United Nations conference, Habitat II, was held in Istanbul, Turkey in June of 1996. This conference was open not only to government leaders, but also to community organizers, non governmental organizations, architects and planners. “By the year 2000, half the world’s people will live in cities. By the year 2025, two thirds of the world population will be urban dwellers ? Globally, one million people move from the countryside to the city each week.? Martin Johnson, a community organizer and Princeton professor who attended Habitat II, definitively put into words the focus of the deliberations. Cities, which are currently plagued with several of the severe problems of dis-investment ?crime, violence, lack of jobs and inequality ?and more importantly, a lack of affordable and decent housing, quickly appeared in the forefront of the agenda.
House prices have been affected by the number of people who buy houses to rent out and this has had an impact on younger people wanting to buy homes. Thus, the term ‘generation rent’ has come to the forefront in recent years. In A Century of Home-ownership and Renting (The Open University, 2016) census data presented supports the claim for the use of this term. In the video, they mention levels of home-ownership dropped for the first time since records began. From 69% to 64% in the space of 10 years and the percentage of households privately renting has been on the rise. 11% in 1981 compared to 18% in 2011. In addition, house prices have risen faster than previous years and banks have also restricted lending. These factors have all lead to more people not being able to afford a home of their own, especially at a younger age. So, as house prices rise this benefits the home-owners and allows them to gain more wealth and capital. The distribution of wealth has been affected by changes in these markets. There is evidence to support this claim. Table 3.5 (Investigating the social world 1, chapter 3, p. 96) shows wealth distribution in Great Britain from 2000 and 2005. The table shows results for housing wealth distribution amongst other things. It’s important to look at the look at the lowest and highest percentiles to look at any
This paper will be predominantly focusing on public housing within Ontario. Not only will it look at the basics of Ontario but examine more directly on Regent Park within Toronto. It will discuss what public housing is and the explanation for why it exists, the government housing programs that are present with regards to public housing and the results of the government programs. The Purpose of this essay is to argue that the problem of public housing will never
Poverty can endanger the safety of many people. Living arrangements can put children at a greater risk of being in an unstable environment. The “instability of living arrangements and homelessness due to poverty, place children at increased risk of being injured (Leschid31).” Many experts show the less money a person makes the less affordable houses will be available, this will have a
Housing is a necessity of life as living conditions can affect an individual’s health in the long run, but after 10 years of economic expansion Canada has yet to resolve this issue: one out of five households in Canada are unable to afford acceptable shelter (Shapcott, 2009). The Ottawa Charter of Health Promotion recognizes shelter as a basic prerequisite (Bryant, 2009). Many people are suffering, as the income gap between owners and tenants has grown wider throughout the years (Shapcott, 2009). There have been studies conducted by Canada and the Housing Mortgage Corporation have shown that the cost of rent is increasing much faster than income, as the existing amount of housing continues to deteriorate and overcrowding in households is increasing; this is also known as hidden homelessness (Bryant, 2009). Homelessness is a temporary experience, not an identity or a permanent trait. It includes a continuum of housing circumstances (Paradis,
Quigley, J. M. (2002, April 3). A decent home: Housing policy in perspective, (pp. 53-99). Berkley, CA. University of California, Berkley Program on Housing and Urban Policy. Retrieved June 20, 2011 from http://escholarship.org/uc/item/8f57x42q
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 ...
Build or renovate houses would require considerable expense in accordance with the context of the ability of their respective owners. That is to say, housing is a basic necessity as well as luxury goods. Everyone will be very careful in buying luxury goods for risking substantial value for money. Not to mention a residential property that will be enjoyed alone or used in a long time. Comfort and beauty of our home conditions, as well as our bodies will be felt both physically and psychologically.