Planning and Affordable Housing--Assignment代写范文

Assignment代写范文:“Planning and Affordable Housing”，这篇论文主要描述的是住房负担能力是评估房产行业与城市发展水平的一个热门话题，员工是否有足够的能力能够负担的起在工作的城市的住房问题，上海这座城市居住人口约为中国总人口的1.5%，但是上海的房地产价格却占全国房地产总值的五分之一，高昂的房地产价格使得住房问题成为了居住在上海的人们的沉重负担。

Housing affordability - and therefore greater access to decent homes - is unachievable in contexts overwhelmed by investment pressure and hyper-consumption.  Analyze this statement in relation to London or another city of your choosing.

Table of contents

Planning and Affordable Housing 1

1.0 Introduction 3

2.0 Literature Review 3

Figure 1: Income of the citizens of the Shanghai from the 1990 to 2008 6

Figure 2 Housing tenures in Shanghai from 2004 to 2008 6

Figure 3: the price to income ratio from 1995 to 2008 9

3.0 Conclusion 10

Reference list 11

Executive summary 执行摘要

Housing affordability is a popular topic. The decent homes are the outcome of the investment from the outside of the city even with the support of the mortgage. What is more, the price is also produced from the need of the customers from the markets because the employees are crowded to Shanghai to work.The research briefly studies that there is a positive relationship between housing affordability and decent home.

1.0 Introduction 简介

Whether there is some relationship between the housing affordability and decent homes in the housing marketinghas been the focus in the industry of real estate (Corradin & Popov, 2015). Referred to research in the relationship between them, the city Shanghai, China, has been selected for research purpose. In addition, Shanghai as China's largest city and major industrial center is enough to make urban housing affordability of an interesting case study. Shanghai has a population of 18 million. This population accounts for only 1.5 percent of China's total population. But Shanghai’s real estate accounts for 20% of Chinese total real estate value (Corradin & Popov, 2015). While Shanghai’sreal estate priceis the most expensive over the years lf all the citiesof China, Shanghai has now become one of the world's cities with the highest real estate prices. So housing pressure has become a heavy burden on people of Shanghai. Therefore, to study the affordability of real estate along with the related market and policies of people in Shanghai has become an important issue of global real estate market.

2.0 Literature Review 文献综述

"Affordability" has become a widely used term in public debate and decision-making, but it is still a vague and controversial concept. In essence, while the "housing for the majority" is widely recognized, what can be referred to as "housing" or "poverty" housing is not yet clear. Is a striking title of poor or just poorhouse? This problem has been put forward, to see if there is any meaning. Housing is different from general income poverty problem (MIAN, SUFI, & TREBBI, 2015). The main reason to treat housing problemwith its unique characteristics respectively is that: the differences between house prices and rentsare very big in the local market. In addition, the differences may continue due to the elasticity of supply is relatively low.It is often difficult to adjust or select the appropriate level of consumption or income even as housing integral or high transaction costs. For example, people cannot afford the economic principles and the principle of "need".

The housing affordability of a family is defined as the ability of a family to afford the expense of house with no surge in excessive restrictions on the housing consumption accounts in a mess, so any housing affordability should reflect a surge in housing and the definition of opportunity cost between the housing consumption accounts in a mess.

There was clear evidence of more and more Chinese are experiencing problems because they can't enter the accommodation/housing to suit their needs (Weida & Peng, 2015). The range of problems is from the difficulties and to enter the market and the housing pressure. Other problems in this area and policymakers have to in the past decade, especially housing prices including rapid and sustained inflation, increasing the supply of housing outside of poverty, the public and private low-income rental housing, and housing ownership in a given population decline. In recent years, many of these problems discussed the name of housing affordability, and "become the key problem facing housing policymakers in developed countries at the beginning of the 21st century". Policy as part of the language in the 1980s, the word "affordability" is widely used in refers to the ability of the individual, some of the given standard and family housing (or different) price or rent collection, in the eyes of a third party (usually the government), the burden of the family income is not reasonable (Nyakabawo, et al., 2015). Housing affordability problems arise as a result, the absorption of housing costs too good the proportion of household income. Although related to the definition and measurement of qualitative and quantitative difficulty of this problem, there is one of important evidence to show that it has become much lower to middle income families, which makes them more difficult - and the rest of the population security accommodation, is suited to their needs and not lead to the kind of "housing stress" mentioned above.

Although it is generally believed that housing costs should be independent of the low-income, literature is the polarization between the use of measures, to determine the cost of housing share proportion or spending and income and disposable income after identification of residual income measures for housing costs.

Housing is often thought of as a goal, is positive and desirable, worthy pursuing. In addition, 57.7% of respondents agree or strongly agrees with the housing is an important personal goal. Another 27.6% of the moderately disagree with this statement, only 13.3% of the people clearly against. In addition, the vast majority (71.7%) of respondents believe that best buy than rent in the long run (Regan, 2000). More importantly, for much western industrial economy, housing is a political goals and personal goals. There is a strong consensus; the government must do something to help people realize the important personal goals. In the same survey, when respondents were asked about the responsibility of the government in helping people to become homeowners, who believe that the government is responsible for the highly responsible or respondents (34.1%) (Fogel, Smith & Williamson, 2008). The other 38.8% of people said, the government responsible for moderate. Only 21.1% of people think that the government does not have any responsibility. A wide range of housing is a very recent feature... Many, but today received a normal and natural way organization term housing system ". The importance of housing, as an individual or as a policy goal, is that we take for granted. Today, slightly more than half of the seven million people living in a flat in Hong Kong on their own.

Shanghai has experienced rapid economic growth during the review. In Shanghai from 1995 to 1995 per capita disposable income grew by 270% (figure 1), despite its economic growth is not balanced (McDonald, 2015). Shanghai real estate market reflects the development of the national policy. Figure 2 shows that by 2008, homeownership rate has risen to more than 77% of permanent residents in Shanghai, almost evenly split between 1 and the families who buy welfare housing (and therefore enjoy very low housing costs) and those who buy the housing market. Data does not mean that the latter has the proportion of mortgage loans, but it's clear who will experience housing costs are much higher than those who benefit from privatization. It is important to note that in a short period of time during 2004-2008, the proportion of families have become homeowners through privatization has fallen by 5.1, and buy from the market proportion of housing quickly rose by more than 10 percentage points. By 2008,the houses were bought by homeowners from the housing market of privatization is more and more difficult (Allen, et al., 2015). This suggests that the problems of the purchasing power of the maturity of housing may be more serious for housing by the open market.

In short, the current situation is one in Shanghai, the overall affordability and seems to be maintenance to market supply is implemented. But the legacy of welfare housing system means that 57% of households from low rent or public housing benefit from the owner to sell to their country at very low prices (Vishwakarma, 2015). Under pressure of the market price is expected to fall mainly in the new family, has obviously, these are formed, more and more permanent resident population. So this article focuses on the family to buy housing affordability of the market.

Price or expenditure - to - income ratio index is the most widely used measures of housing affordability. In general, the average index using the ratio of the value/market standardization residential unit price/value means that the disposable) (or family/household income before tax expenditure - to - income index simple intuitive and simple technology. It has been widely applied to compare the housing market and geographical location is a common international comparison (Kurlat & Stroebel, 2015). Can distinguish between house price and income indicators, can be used as indicators for housing and expenditure - to - income ratio, which is used as an indicator of ability to pay once gain access.

House prices and income measurement can be seen as a burden capacity in the premise of the housing system, such as Shanghai's new home mortgage housing is becoming more and more important. Its utility is that within the mortgage availability to the general terms and conditions, namely the income multiples,and the maximum mount of loan for the house they can apply based on their income. When the allied bank underwriting agreements are the externalized measure to state the effectiveness of the housing price to income. Still, even if used in this way, the price and income than executive agent pay ability index, because it comes from the bank to evaluate the possibility of the default of the borrowers. Expenditure - to - income than follow the nature of the housing price to income ratio, once the housing is implemented. Beyond its lasting intuitive appeal to policy makers this approach has obvious flaws (Kurlat & Stroebel, 2015). This means that either the (absolute) surge in revenue to finance the purchase demand does not lowest income accounts in a mess, or lower than must be reduced to zero income is the most powerful.

However, although some critics (single) ratio method show that this is not fair, because it allows the bigger and better household disposable income, residual income method (discussed below) may produce a very stingy attitude (Hong, et al., 2015). Parallel literature housing subsidies to illuminate that distinguish system to protect the families with very limited income from the expensive costs after house purchase.However, no runs far income scale, and those (such as the Netherlands and Germany) executive meeting of a greater cost of housing affordability functions and expand the income spectrum ("gap"). Affordability suggests the concept of "gap" housing allowance system and the ability to pay after the ratio method is not only to protect income housing costs, to ensure that adequate levels surge in housing and the housing consumption accounts in a mess. Affordability is a balance between spending surge in housing and the housing project, and accounts in a mess and high housing expenditure policy focus, even if the residual income is still higher than the poverty line.

This level of poverty and refuge from the concept of development, poverty has been confirmed or housing - induced poverty.

The method of residual income obviously has many advantages. First of all, it involves personal housing decisions and consumption levels of social ideal. Some wealthy family may be 80% of income spent on luxury homes, but still maintain a high standard of living (Zhang et al., 2015). This cannot be seen as a social problem. In contrast, some very poor families may be difficult to maintain basic survival, even if they housing consumption proportion of income is relatively low. In the middle, some family housing shortage problem of service consumption (compared with the social ideal level) may be just the utility of the personal preference rather than budget constraints.These people should be different from those who cannot pay, of course.

The main challenge lies in the implementation of the concept of residual. Same proportion method, first of all depends on the social acceptance (normative) identification of housing consumption level (size and quality), and evaluate the possibility of its realization. The authors calculate the average cost of socially acceptable levels of housing consumption did not refer to the supply and price change. Required minimum housing, it also depends on the specific estimates - cost income after the implementation of the weakness and sustained growth of housing consumption social acceptable level. A specific standard of residual income is not everything, it is a society based on space and time. Therefore the poverty line is a basic choice.

As can be seen from figure 3, even can get mortgage loans granted access, it is necessary to assess whether or not to pay interest and capital reasonably afford it, they don't need too high proportion of household disposable income (Hong, et al., 2015). As mentioned above, the housing burden of measurement provides a surge in housing and the balance between the purchase cost accounts in a mess. Itself to achieve a given proportion is not a guarantee adequate housing costs after the rest of the earnings is financing to meet the surge of the lowest level in the housing consumption accounts in a mess.

Overall, this study suggests that if there is no housing policy intervention in the housing market will copy and with the passage of time, the worsening income inequality. Meanwhile, result indicates that policy intervention is necessary to relieve the different groups burden of worsening income issue. Furthermore, it also indicates that for the entire income group visit, it is a problem discussed above, there is at least some time, it could be improved by encouraging small units of construction and development policy, promote the down payment. Since the summer of 2006, China ministry of construction requirements, at least 70% of new home should be less than 90 square meters (Pan, Huang & Chiang, 2015). Although some cities have this policy role fully, many people, including Shanghai, also failed to do so.

Analysis also shows that the demand subsidies tools should not only be targeted for low-income families, especially in the early of ownership. In principle, the public accumulation fund for housing construction plan to do the latter, but some estimates suggest that high-income family is the most benefit. In practice, any major development needs subsidies should be considered in underlying inflation, and therefore counterproductive, impact on prices.

3.0 Conclusion 结论

In conclusion, in the modern city Shanghai has the high housing price, which is not comparable with the factor of income. In addition, the decent homes are the outcome of the investment from the outside of the city even with the support of the mortgage. What is more, the price is also produced from the need of the customers from the markets because the employees are crowded to Shanghai to work.

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