Housing

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File:Worker home from 1911 in Helsinki.jpg 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.{{Cite OED|housing|id=88956}} As a result, the quality and type of housing an individual or collective inhabits plays a large role in housing organization and housing policy.

Overview

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.Gwendolyn Wright, Building the Dream: A Social History of Housing in America (MIT press, 1983) 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|date=March 2025}} In many countries, housing policies and programs have been developed to address housing issues related to affordability, quality, and availability.{{Citation needed|date=March 2025}} 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|date=March 2025}} Market housing is owned by private individuals or corporations and consists of apartments, condominiums, private housing, etc. {{Citation needed|date=March 2025}} Non-market housing refers to housing that is provided and managed by the government or non-profit organizations.{{Citation needed|date=March 2025}} The goal of non-market housing is to provide affordable housing for individuals or families considered low-income. {{Citation needed|date=March 2025}} Non-market housing is subsidized, meaning that rent is lower than the market rate, and tenants may be eligible for rent assistance programs.{{Cite book |last=Haffner |first=Marietta E. A. |url=https://books.google.com/books?id=AW1P-ejQUScC&pg=PA4 |title=Bridging the Gap Between Social and Market Rented Housing in Six European Countries? |publisher=IOS Press |year=2009 |isbn=978-1-60750-035-3 |pages=4+ |language=en}} Non-market housing consists of public, social, and cooperative housing among others.

Macroeconomy and housing price

Housing prices are affected by the macroeconomy.{{Cite journal |last=Dept |first=International Monetary Fund Research |date=2005-12-22 |title=Research Summaries: Housing Prices and Macroeconomics |url=https://www.elibrary.imf.org/view/journals/026/2005/004/article-A001-en.xml |journal=IMF Research Bulletin |language=en |volume=2005 |issue=4 |doi=10.5089/9781451929980.026.A001|doi-broken-date=1 November 2024 }} 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|date=March 2021}} 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|date=March 2021}} 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|date=March 2021}} model.{{citation needed|date=March 2021}} 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|date=March 2021}} 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.

{{cite journal

|last1= Li |first1= R.Y.M.

|title= Have Housing Prices Gone with the Smelly Wind? Big Data Analysis on Landfill in Hong Kong

|doi= 10.3390/su10020341 |s2cid= 158813714

|url= https://www.researchgate.net/publication/322759961|doi-access= free

}}

=Housing affordability index=

{{Excerpt|Housing affordability index|paragraphs=1|only=paragraphs}}

=Housing crisis=

Health and housing

Housing is recognized as a social determinant of health.{{citation needed|date=March 2021}} 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.{{cite journal|doi=10.1186/s12889-020-09224-0|title=Housing as a social determinant of health and wellbeing: Developing an empirically-informed realist theoretical framework|year=2020|last1=Rolfe|first1=Steve|last2=Garnham|first2=Lisa|last3=Godwin|first3=Jon|last4=Anderson|first4=Isobel|last5=Seaman|first5=Pete|last6=Donaldson|first6=Cam|journal=BMC Public Health|volume=20|issue=1|page=1138|pmid=32689966|pmc=7370492 |doi-access=free }} Another factor that negatively impacts mental health is housing instability.{{cite journal |last1=Li |first1=Ang |last2=Baker |first2=Emma |last3=Bentley |first3=Rebecca |title=Understanding the mental health effects of instability in the private rental sector: A longitudinal analysis of a national cohort |journal=Social Science & Medicine |date=2022 |volume=296 |page=114778 |doi=10.1016/j.socscimed.2022.114778 |pmid=35151148 |s2cid=246614891 |url=https://www.sciencedirect.com/science/article/pii/S0277953622000818}} Negative health effects that impact children include potential exposure to asthma triggers or lead, and injuries caused by structural deficiencies (e.g. lack of window guards or radiator covers).{{cite journal|doi=10.1146/annurev-publhealth-040119-094050|doi-access=free|title=Housing and Healthy Child Development: Known and Potential Impacts of Interventions|year=2020|last1=Dunn|first1=James R.|journal=Annual Review of Public Health|volume=41|pages=381–396|pmid=31874071}}

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..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

By region

References

External links

{{Commons category-inline|Housing}}
{{Commons category-inline|Housing}}
{{Cite EB1911 |wstitle=Housing |volume=13 |pages=814–827 |first=Arthur |last=Shadwell |author-link=Arthur Shadwell |short=1}}