Although shelter is a fundamental human requirement, affordable housing has become a difficult thing to attain says Maxwell Drever. All across the globe, affordable housing has become an issue for commoners. More than 50% of the society is struggling to get inexpensive houses for themselves. It is because of the increasing costs of other essential commodities that are adding to their burden. They are spending more than 30% of their revenues on housing, and thereby it is difficult for them to meet both ends. The severe burden on renters is adding to their psychological pressure. The limitation of affordable housing brings with it various adverse effects. Likewise, getting cheap houses in and around job areas is another point of consideration.
The vulnerable population is not getting enough options near their job centers which is adding to their stress. However, it is not only the workforce population that is single-handedly suffering from this issue. Almost every section of society is facing the challenge of affordable housing. It results in families experiencing stress related to healthcare, food security, transportation, retirement, and social stability.
Supply challenges for every section of society
The main area of concern related to affordable housing is the supply. Suppose you take a look at estimates of national agencies. You will see that the shortfall has not only affected the workforce population but all others in society. Maxwell Drever shows that the current speed of construction of affordable housing is so slow that it has affected the supply chain.
Land use rules, low income, and attitude of higher classes
There are a few causes of this shortage of affordable housing. The first one is the low income of the workforce. These individuals engaged in occupations like teaching, firefighting, post services have the basic income to cover their monthly expenses. Hence getting affordable apartments is always on their priority list. However, the short supply of affordable housing is the reason behind their stress. Apart from this, rules and regulations of local and national authorities have also added to their bad fortune. Maxwell Drever says that the various restrictions on the housing sector have limited the production of affordable housing.
Furthermore, there is little financial support from national agencies required for affordable housing. More so, the overall attitude of other well-off sections is not in support of the workforce population. Hence, all of this drives the problem of affordable housing.
The problem of affordable housing has a direct relation with supply. If you look at employers, they are always on the lookout for workers in and around the job area. However, the lack of affordable housing has made it difficult for them to get workers in a short duration. It is because the workers now get compelled to stay at the fringes of the cities. Hence, household issues have not only affected the workforce population but also other sections of the market. Thus, every unit is suffering. Therefore, the concept needs careful evaluation.