Housing Policy

Cowan D & Marsh. 2001. A Two Steps Forward: Housing Policy into the New Millennium. Policy Press

My proposal will benefit only families of the local communities mentioned previously. These communities have been afflicted with a new interest for gentrification of more affluent residents. We need to protect the low income families from displacement of their neighborhoods. Data that must be collected to initiate the proposal is the family’s income, financial issues, and household size. We are also going to gather data regarding housing prices, rentals and the impact of gentrification within the

To tackle the housing affordability, first of all, it is crucial to lift the supply of housing as it will release the pressure on the housing price. Nevertheless, the supply of housing is inelastic as it requires an adequate fund, time, approval from the Government. Besides, the housing system is heavily dependent on the private sector. Thus, the Government should provide initiatives for housing providers to shift the supply of houses in the market. Australia would follow the policies from other countries to tackle the housing affordability. However, it has to fit in the Australian context. These policies might work well in other places but it does not mean that it will be applicable in Australia. The Singapore Government has a public

The problem is there is inevitably a lack of housing, due to homelessness and influx of people. Without enough housing, the prices of the homes will be very expensive; however, if there is not a balanced mix of luxury and affordable housing, those already living there will be forced to leave because they will not be able to maintain taxes and other increases that will be tacked on to housing expenses. In order to make this process a bit more feasible, New York created the “Inclusionary Zoning program.” This program required “that developers set aside a certain percentage of units in a new development as affordable units.” The issue with this zoning ordinance is that although it was stated as a “requirement” the city kept it as a voluntary process.” With the ordinance being voluntary and developers with a capitalist mentality, many developers opted out of adhering to the ordinance. Although the residents of New York may not be in the power broker or decision-making classification, many of its inhabitants have been there for many years. Unless there are efforts to make this ordinance mandatory, there will be much opposition to keep new development out.

Affordable housing has become the paramount issue of cities and dense urban areas. San Francisco is the posterchild of an unaffordable city that regardless of immense investment from blue chip firms like Google, Facebook, and their ilk of startups evaluated at $1 billion or more, policymakers and elected officials must wrestle with the housing affordability crisis that is considered endogenous to swaths of homelessness and record statistics on crime. In New York City, Mayor Bill de Blasio has made affordable housing the centerpiece of his legislation and championed the cause as a social justice issue—neighborhoods must remain affordable to maintain diversity for all races, ethnicities, and low-income families. A small sample of 827 New Yorkers by the NY1-Baruch College City Poll found the main concern of respondents was affordable housing while crime, jobs, and homelessness were peripheral problems (Cuza, 2016). The public discourse on how to address housing across the United States has pointed to negative externalities that surround rent-regulation and homeownership. Conversely, for this essay I will present various cases in order to illustrate the housing crunch is influenced less by housing and land regulations, or antagonistic homeowners but is induced by global market forces.

The Public Policy Institute states that Section 8 project-based rental assistance contracts involving HUD and for-profit owners contracting private multifamily housing, which is made available by HUD to low-income households who qualify for housing assistance. The subsidy is such that pays the difference "between 30 percent of the household's income and the contract rent; the subsidy is paid by HUD to the landlord." (AARP Public Policy Institute, 2002) In addition, HUD has Dispersal programs for renters of Section 8 housing due to the desire of the public to avoid to concentration of poverty-level residents in urban areas. This is because there is a general consensus that Section 8 subsidized housing tends to drive down the market prices of property in the same area. There are various challenges that are faced by the Section 8 subsidized housing program as it assists low-income households obtain appropriate housing through the provision of rental assistance.

Therefore, it should be talked about and understood, so that the people are not kept in the dark, especially when they have not experienced it for themselves. I believe that understanding and admitting that the issues are accurate becomes a first step to solve the problems. It is disheartening that many minority groups and protected groups fall trap to these practices. What’s worse is that there are evidences that realtors and lenders restrict housing options based on the families’ race or background. These families are facing overt limited choices for housing in a nation that boasts liberty and opportunities. Clearly, there is something that needs to be fixed in the institution or society itself. Despite there being evidences and mandates to suppress discrimination, these actions still continue for businesses and corporations are granted certain leeway. Not saying that they should be limited in their business endeavors, but certain (stricter) regulations can be put in place to check these realtors and lenders that are supposed to serve the people and aid them in attaining the basic necessity of having a shelter. However, greed and supposition take the front seat when it comes to providing a home. Moreover, people’s perceptions also have a strong role in the encouragement of unfair activities in the housing market. To me, this poses a conundrum that is harder to

Macroeconomics is an excellent tool for the analysis of the housing industry as something like a capital good, as a home is considered to be, cannot easily be studied in a short-term platform. Real estate is a good that costs several times more than an average persons annual income, in the United States that number is typically 7 times as much, and in the United Kingdom that number is 14 times as much. Several factors of both supply and demand directly impact the housing market on a macroeconomic scale. (Business Economics, 1)

The Australian economy is reliant on three key sectors: services, housing, and mining. The services sector employs the largest percentages of Australians – around 80 percent – and is responsible for approximately 70 percent of the country’s GDP (Australian Bureau of Statistics, 2010). With jobs in a variety of specific industries, this sector drives the success of the Australian economy. The housing sector is experiencing unprecedented growth leading to concerns over a potential asset bubble. An increase in the amount

Recently, The Australian housing market has been growing rapidly which reflects the housing affordability crisis as the housing price rises much quickly than household incomes. There are two key observations of current Australian housing market from Yates, firstly today’s housing affordability problem is mainly a structural problem and intensified by cyclical pressures. It began 40 years ago when inflation switched focus on housing, besides, there are more renters than purchasers under today’s housing stress situation, and the housing

Housing affordability is a perennial problem in Australia and has worsened significantly over the past three decades.

In 2011, 20.7% of dwellings in Sydney were classified as high density. Australian cities are facing a number of challenges, including a significant growth in population, growing housing affordability crisis, a greater concern for environmental issues, transport and urban infrastructure.

In the past 10 years, China’s residential real estate sector plays an important role in the economy and has been a key driver of growth. At the same time, a $580-billion stimulus package in 2008 helped China prevent a sharp slowdown in economic growth. This action has been considered timely and effective by most observers. However, there also have been concerns that banks loosened their lending standards too much as a result of the huge stimulus, among other factors. This led to excessive lending to individual home purchasers and rapidly rising housing prices that, in turn, may eventually lead to an increase in nonperforming loans at financial institutions should those prices collapse.

According to Wikipedia a housing bubble is a type of economic bubble that occurs periodically in local or global real estate markets. It is characterized by rapid increases in valuations of real property such as housing until they reach unsustainable levels and then decline. Four years into the housing bubble downturn, much of the country remains hopelessly confused about what happened, why it happened and who is to blame. In my research paper I will try and demonstrate what a housing bubble is, some of the reasons for the bubble, was it preventable, how it kept growing, how it burst and how it has affected our economy.

China is one of the major economical players in today’s international market. China’s economy is the “seconds largest in the world after the United States” (Joseph, 63). This is a striking achievement due to fact that China is a “developing country”. China has achieved a great amount of success through the collaboration of political and economical regimes. The economical growth in China led to “one of the biggest improvements in human welfare anywhere at anytime” (Kristof, 15). Currently, China is experiencing a real-estate bubble. This eventually will hit a climax, disrupting the real-estate market within China. This real estate bubble that China is undergoing is considered one of the "biggest housing