Lack Of Affordable Construction

904 Words4 Pages
Housing expense tends to be the largest percent of living expense for most people. After hearing Mr. Walter Moreau’s speech about affordable housing, I have gained more insights about the housing situation and affordable housing in Austin and in England. Through the research of development of affordable housing in England, I have learned how the implementation of policy, regulations and land planning system could be tied together to achieve the goals of affordable housing. In the contemporary society, with growing economy and inflation, housing expense continues to increase with the rate that can be much higher than the rate of the increase of people’s wages. The unreasonably fast rise in housing costs and the lack of affordable housing can leave considerable impacts on different aspects on people’s life. Experts in urban planning have considered that lack of affordable housing can hurt the overall health of communities. Therefore development of affordable housing becomes an increasingly important and urgent issue needed to be addressed in many large and growing cities around the world. There are many ways we can use to better this situation and meet the increasing demand. Also, the methods utilized by the English government and local authorities can be used as good example for us to change and improve on. I really think there is an urgent need for developing affordable housing programs around the world. For example, I come from Shanghai, where the living expense is the highest in China and one of the highest in the world. One important reason that has led to this situation is that the prices of houses are ridiculously high and continue to increase. I remember that one newspaper article mentioned that the house price was so high... ... middle of paper ... estate agents to build and provide more apartments for the typical renters rather than invest the majority of money toward luxury condos. Otherwise, especially in the cities with more wealth population who can purchase luxury houses and thus push the land prices up, it will become even harder for people to pay for their rent and buy houses in downtown area. As a result, there will be more homeless people in the city. If we only develop affordable housing in places that are far away from the city center, one significant disadvantage is that people have to allocate much time on transportation. Moreover, the transportation will then take away the money people saved from the housing. It may be cheaper to buy a home than rent, but the sad fact is that many low-income families cannot get mortgages due to the tighter credit standards after the financial crisis in 2008.
Open Document