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Industrialization brought mass migration to cities. This one-room worker home from Helsinki from 1911 represents an attempt by the city government to improve the conditions of workers; for example, electricity and running water were installed in this row house.
Housing refers to a property containing one or more shelter as a living space. Housing spaces are inhabited either by individuals or a collective group of people. Housing is also referred to as a human need and human right, playing a critical role in shaping the quality of life for individuals, families, and communities.[1] As a result, the quality and type of housing an individual or collective inhabits plays a large role in housing organization and housing policy.
Housing is a physical structure indented fordwelling, lodging or shelter that homes people and provides them with a place to reside. Housing includes a wide range of sub-genres from apartments and houses to temporary shelters and emergency accommodations.[2] Access to safe, affordable, and stable housing is essential for a person to achieve optimal health, safety, and overall well-being. Housing affects economic, social, and cultural opportunities as it is directly linked to education, employment, healthcare, and social networks.[citation needed] In many countries, housing policies and programs have been developed to address housing issues related to affordability, quality, and availability.[citation needed] These programs and policies are referred to as housing authorities, also known as a housing ministry or housing department.
Generally, there are two types of housing, market housing and non-market housing. Market housing refers to housing that is bought and sold on the open market, with prices and rent determined by supply and demand.[citation needed] Market housing is owned by private individuals or corporations and consists of apartments, condominiums, private housing, etc. [citation needed] Non-market housing refers to housing that is provided and managed by the government or non-profit organizations.[citation needed] The goal of non-market housing is to provide affordable housing for individuals or families considered low-income. [citation needed] Non-market housing is subsidized, meaning that rent is lower than the market rate, and tenants may be eligible for rent assistance programs.[3] Non-market housing consists of public, social, and cooperative housing among others.
Housing prices are affected by the macroeconomy.[4] Research conducted in 2018 indicates that a 1% increase in the Consumer Price Index leads to a $3,559,715 increase in housing prices. As a result this raises the property price per square foot by $119.3387.[citation needed]Money Supply (M2) has a positive relationship with housing prices. A study conducted in Hong Kong reported that as M2 increased by one unit, housing prices rose by 0.0618.[citation needed] When there is a 1% increase in the best lending rate, housing prices drop between $18,237.26 and $28,681.17 in the HAC[which?] model.[citation needed] Mortgage repayments lead to a rise in the discount window base rate. A 1% rise in the rate leads to a $14,314.69 drop in housing prices, and an average selling price drop of $585,335.50.[citation needed] In the United States, when there is a 1% increase in the US real interest rate, the property prices decrease from $9302.845 to $4957.274, and sellable area drops by $4.955206 and $14.01284. When there is a 1% rise in overnight Hong Kong Interbank Offered Rate, the housing prices drop to about 3455.529, and the price per ft2 will drop by $187.3119.[5][need quotation to verify]
An affordable housing crisis or housing crisis is either a widespread housing shortage in places where people want to live or a financial crisis in the housing market. Housing crises can contribute to homelessness and housing insecurity. They are difficult to address, because they are a complex "web of problems and dysfunctions" with many contributing factors,[9] but generally result from housing costs rising faster than household income.[10][11][12]
Health and housing
Housing is recognized as a social determinant of health.[citation needed] While high-quality housing environments positively contribute to an individual's health, poor housing or a complete lack thereof leads to negative health effects. Lack of housing or poor-quality housing can negatively affect an individual's physical and mental health. Housing attributes that negatively affect physical health include dampness, mold, inadequate heating, and overcrowding. Mental health is also affected by inadequate heating, overcrowding, dampness, and mold, in addition to a lack of personal space.[13] Another factor that negatively impacts mental health is housing instability.[14] Negative health effects that impact children include potential exposure to asthmatriggers or lead, and injuries caused by structural deficiencies (e.g. lack of window guards or radiator covers).[15]
Family members with poor health reduce debt to avoid risks. Data from the China House Finance Survey used a partial least squares structural equation model for results that indicated family member's poor health and individuals with uninsured endowment insurance have an adverse impact on housing debt and family assets..[16]
↑ Chen, S. et al Health, Insurance, and Social Capital’s Impact on Housing Debt and Assets Using a Partial Least Squares Structural Equation Modeling Technique. Buildings 2024, 14, 3540. https://doi.org/10.3390/buildings14113540
External links
The dictionary definition of housing at Wiktionary
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