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Is there Affordable Housing?

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Society often falsely associates luxurious cities and poverty ridden countries as failures of affordable housing. Contrary to this belief, affordable housing has manifested itself in numerous forms. Spreading itself across world property markets from The United States and Canada to The United Kingdom, this trend has inflated house values and led to numerous consequences. Auckland is proving itself to be a notorious example of the affordable housing social problem. Upon examination of the change in average residential sale prices in the Auckland region the social problem of affordable housing becomes evident – house prices have increased by 43.4%, from $487,034 to $699,659 over the last five years in the Auckland region alone (April 2009 – April 2014). There is no sign of this trend slumping. (QV, 2014). When these figures are placed in comparison with data gathered from the 2013 census, the severity of the problem comes to light – the number of people who have not moved from 2008-2013 has increased by 41% since 2006, 56% of home owners have a mortgage (AMNZ, 2013), there has been an increase in people renting with an estimated 56,000 more rentals units needed over the next decade (The New Zealand Herald, 2007) and the average age for the first home buyer has now risen to 36 years (Affordable Housing New Zealand Ltd). Ultimately this affordable housing trend, in mix with comparatively minor factors, such as construction costs, housing shortages, and rouge mortgage lending
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