Home » Blog » Why is the Issue of Affordable Housing Crisis a Matter of Concern for All– Maxwell Drever Shares His Views

Why is the Issue of Affordable Housing Crisis a Matter of Concern for All– Maxwell Drever Shares His Views

If you look around the world, you will find that there has been an issue with affordable housing. And if you wish to delve deep into it, you need to have a clear understanding of the problem. It has impacted a more significant part of society. The crisis in affordable housing has made many people spend a significant amount on their living explains Maxwell Drever. According to the latest reports, several American families have to spend over 30% of their earnings on their home rent.

Today, people spend over 50% of their income on their households. Several families who stay on rent and earn $15,000 or even less end up spending about 75% of their earnings on their house rent. And such an amount stops them from spending in other aspects of their lives. And gradually, they start to face a housing issue as well.

COVID-19 has increased this issue

Everyone needs to get shelter. Hence, families across the United States do their best to pay the rent and pay for other services required to make a balanced living. And to pay for the increasing household rent, it is essential for the lower-earning families to curb down spending on vital factors such as food and healthcare. The increasing cost of houses forces people to fail on their mortgage and rent payments. And that in turn as Maxwell Drever points out results in homelessness owing to eviction and foreclosures.

The pandemic outbreak brought to light the existing housing crisis. It also highlighted the issue as not everyone could manage a shelter in this challenging phase. And without a proper shelter, a big chunk of the American population came under the direct threat of the pandemic. And since it was essential to stay indoors, it became important to have secure housing to stay protected from the invisible but dangerous virus.

Affordable workforce housing is an issue that affects all

Maxwell Drever says that since the crisis in housing affects the economy, it’s evident that housing will affect one and all. The problem of homelessness can result in health issues as the ones who are affected by it aren’t able to pay for their medical expenses because of increased home payments. And as a whole, society suffers because it loses out on potential workforce and their productivity.

The workforce section searching for affordable housing is looking for shelter in the suburbs, rural regions, and the city fringes where cheaper housing might be available. However, it leads to an increased commute time to reach their workplace. They have to face high traffic and congested roads, making them reach for work late. It would be beneficial if they could have stayed at a housing complex close to their workplace and traveled easily.

Since the housing issue impacts economic mobility, it usually impacts society and the economy. And if this issue gets addressed, it would automatically ensure economic growth and development for the society as a whole.

Leave a Reply

Your email address will not be published.