Housing, or more specifically living quarters, refers to the arrangement and designated use of residential buildings or homes collectively, for the intent of sheltering individuals from all weather elements, public or private, for the duration of their lives. In general, housing is defined as any building used for dwelling or residence purposes and occupied by persons for the period of one’s life. The term ‘housing’ encompasses a wide range of structures including privately owned houses, condominiums, apartments, townhouses, row homes and mobile homes. As with most things, there are pros and cons to every structure type. Residential house or apartment buildings are among the most prevalent in the country and accounts for a growing number of new construction and resale units, alike.
With the rapid growth of our communities and the continuing lack of affordable housing, more people are being left out in the cold and not afforded the opportunity to purchase or rent a home of their own. While there are various programs designed to assist those who cannot afford to buy a house of their own or rent an apartment, they are only temporary solutions. The most popular programs are social service programs and tenant and housing development initiatives. In these efforts, the government tries to provide housing alternatives to those who can’t get it through some other means. But even this has its limits.
Government support for affordable housing does not cover all kinds of dwellings, including row homes, bungalows, and cottages. It also doesn’t cover recreational dwellings like camping cottages and recreational homes. The housing that is subsidized by the federal government is usually called housing that is subsidized by the government. However, when an individual or family pays for the housing in cash, it is called non-subsidized housing. The term “affordable housing” can apply to any kind of dwelling that is made available through a grant from the government or any other similar financing program.
Housing that is located in an urban setting tends to be more expensive than housing that is designed for a more rural setting. Cities are typically more congested than rural areas, and this means that there are more residences that are in need of repair or that are in danger of need of repair. In addition, urban dwellers typically have a higher level of health and sanitation concerns than their rural counterparts. Because of these factors, it can often cost a greater amount of money to live in a city than it would to live in a rural area. While housing prices have begun to rebound in many cities, those that are more affluent still continue to pay a higher price for a home.
The federal government offers a variety of programs to help those who need affordable housing. The most popular is the federal housing stimulus plan, or the HOPE for homeowners program. This initiative offers lower interest rates and loan forgiveness for mortgage debt. If you are a homeowner that qualifies for HAMP, then your bank or lender will work with you to find appropriate rental assistance to find you a new, more affordable rental. In order to receive this assistance, you must make your payments on time, maintain a certain rental payment amount, and maintain your credit rating below a certain level.
The bottom line is that there is no national long-term solution to the housing crisis. In some places, it may be possible to stabilize the market with moderate changes in the rules of lending, building, and financing for a period of time, but short-term fixes, such as increased availability of federal housing grants and low interest rates by the federal government, do not create long-term solutions for the housing crisis. Only by creating more public housing and by ensuring that the process for homebuyers and homeowners is simplified through lower mortgage rates, more new home construction can take place, and the demand for homes will begin to rise once again.