The interplay of sustainable elements for low cost housing affordability and their manifestations on the choice of new home
The current housing policies do not usually highlight on the sustainable elements for low cost housing affordability by the low income earners. Affordability is not an inherent characteristic of housing, but a relationship between income and relative prices (Stone, 1994 p.21). Housing affordabilit...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Conference or Workshop Item |
| Subjects: | |
| Online Access: | http://eprints.uthm.edu.my/3374/ http://eprints.uthm.edu.my/3374/1/050_129_ICMEF2012_Proceeding_PG0506_0530.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Summary: | The current housing policies do not usually highlight on the sustainable elements for low cost housing
affordability by the low income earners. Affordability is not an inherent characteristic of housing, but a
relationship between income and relative prices (Stone, 1994 p.21). Housing affordability can be viewed
from three different perspectives: affordability for renters; affordability for future home owners; and
affordability for existing homeowners (DTZ New Zealand 2004). Findings: It is observed that salaries and
wages are not commensurate to the swelling home prices. Whilst house prices are becoming more and
sourer, salaries and wages are unavoidably stagnant. This forges further affordability problems
especially on the low income earners whose income is already frozen by lean education level, high
dependency ratio, family issues marred with ties, ethics and race. |
|---|