Affordable housing is a necessary requirement in life for people who accept low income and has a good effect for society. According to Tran, (2015) view that, affordable housing is a worthy resource which has great potentialities in the economic system and it has contributed enormously to change the appearance of the metropolis as well as the countryside. The target of affordable housing gives the support to the community. For example, affordable housing can give us benefit in all aspects such as it brings profit in commercial enterprise, improving the standard of animation and an affordable housing can bring down some of the problems which related to the surroundings. As a consequence, the government should make more affordable lodging for
As a result, the government should build more affordable housing for poor people. Investing in affordable-housing can bring profit and it is a safe investment for every company. The demand for affordable housing is large and stable, so compared to the commercial housing projects, the investment in social housing projects seems still less risky investment for owners’ investment (Stock investment, 2015). In the same way, supporting low and middle income households to find and live in affordable housing is essential to the competitiveness of the nation’s economy. To illustrate this, a study by Ryder (2015) found that, for every £1comapny invests, housing associations invest up to £6 of their own money.
Consequently, affordable housing will create and provide a good and successful environment. It will help the children to improve their educational achievement, and reduce the stress that may cause poor educational results. Affordable housing and health All of the aspect before, has an impact on the child health in a negative way. Moreover, children who are living in unstable house suffer from the inaccessibility to the food they need, which cause a poor health. Reaserches found that, for every increase in rent there is 10% increase in food insecurity amongst low-income families.
Advantages of renting a home Renting encompasses a limited degree of financial obligation as individual maybe committed to a one or two years lease which is only a little fraction as compared to a 30 years mortgage. Another advantage of renting a home is that it comes with limited maintenance expenses and other financial obligations. Expenses such as maintenance fees and property tax are often built in the rent making easier for the renter to escape any possible penalty. In addition, renting a home pave the way for more liquidity due to the fact that the renter is not required to pay a huge amount as down payment which is the case with mortgage. Furthermore, renting a home is also advantageous because this give the chance of more mobility.
It has a direct relation with the rising value of property depending on the socio-economic environment. The value of the house is appraised at the time of loan approval but it can be redetermined as well. Borrowers can refinance their reverse mortgage loans and get increased credit limit. This way they can also settle their previous mortgage as an increased value means that you can earn even more from your property. Limitations of Reverse Mortgage Loans: Apart from having several advantages, borrowers consider reverse mortgage loans as a last resort of income.
Many families face the challenges of public housing. Not only it is the struggle to get access to the public housing, but it is also very difficult to get out of public housing environment. The reasons that people find themselves in a situation when they need public housing are economic and social. Poverty is a complex prevalent social issue throughout the United States. Most citizens consider personal deficiencies to be the primary cause for poverty.
The buyer has the time they need to fix their credit from a previous foreclosure, pay the low cost of renting. Not only is the seller coming out on top, but past homeowners do not have to deal with the stigma of never owning a home again. Thanks to the decline in real estate, most people that are looking to sell their home are turning to rent-to-home options to as an avenue. Although there is a slight increase when it comes to people buying homes, it still has a ways to go. Who wants to rent a home that will never be theirs?
If I had a lot of money, I would like to purchase a house rather than a business. Although buying a business offers a chance to acquire business knowledge and brings you more fortunes, high risks exist in running a business, which may make you go bankrupt overnight. Therefore, from my perspective, it is a better and wiser to buy a house for investment due to the increasing house prices, the sense of security and the sense of achievement that a house could bring. The first thing is that the house price in China continues to go up in the overall trend. According to the data from the National Bureau of Statistics of the People’s Republic China, the average house price of residential buildings has been rising in the past ten years.
They can either personally make the repairs or hire subcontractors to perform the work. In addition to repairs, these houses oftentimes require renovations such as new countertops, flooring, household appliances and landscaping. Many who are new to the real estate investing game choose to take care of the repairs on their own; as opposed to hiring others to do the work for them. A primary benefit of house flipping is repairs and renovations can be done during evening and weekend hours. This can be a downside for newbie investors as it takes away from their family time or personal activities.
“This lavishly illustrated book describes the development of 15 affordable housing projects, designed by some of the nation 's most gifted architects. It shows how affordable housing can be durable, environmentally sensitive, comfortable, attractive, and economical to maintain.” People read that book to relate how they’ve been there and how it was a journey for them, because coming from low income housing is very hard so they have to conform with everyone else. Also it makes the readers(Audience) know how its like or how its been. It’s very hard and complexive to fit in. It is very common for low income housing people to have some type of disease or illness because of the poverty they are living because they cant afford to go to the doctor and take care of themselves.