Why affordable housing

Prices rose by hundreds of millions of dong, even billions, for land plots as a result, he said. Nguyen Le Ngoc Hoan, a lecturer in the finance and banking faculty at the HCMC Open University, said the Vietnamese property market is rife with speculation, with percent of HCMC apartments being bought as an investment or for speculation and not for living in.

He said the government needs to slap high property taxes to prevent speculation. The tax on the second unit must be higher than the first. High taxes should be imposed on properties that are left vacant, whether apartment, house or land.

The most read Vietnamese newspaper. Follow us on. Affordable housing uplifts residents, encourages social connections, reduces overcrowding, increases adjacent property values, attracts businesses and jobs, and lowers crime rates. Developers, designers, housing organizations and community advocates can work together to create vibrant communities in affordable housing developments.

Architects have the ability to design projects that support the physical, mental and social well-being of the people who live and work in those spaces while providing innovative solutions to existing and potential problems. Where people live influences where they work and how much money they make. Affordable housing development generates employment opportunities for the community and stimulates the local economy in the following ways:.

A study by the New York State Association for Affordable Housing found that affordable housing projects created nearly , jobs in New York between and , about 47, of them permanent.

Most of the jobs were in the areas of construction, architecture, engineering, property management, maintenance, and retail. Affordable housing developments promote diversity by creating communities that unite people of different socio-economic, educational, professional and cultural backgrounds.

Cities that lack affordable housing frequently become segregated and fail to meet the needs of families living under a variety of circumstances, leading to higher poverty rates and severe distress in poor, segregated neighborhoods. Diverse communities that increase exposure and interaction between people of different ethnic backgrounds tend to reduce racial tension and discrimination while increasing culture sensitivity, fairness, and tolerance.

Affordable housing development is extremely important for millions of people throughout the world. When individuals and families have access to stable, quality affordable housing, they can become part of a diverse community, find and keep jobs, lead healthier lives and take better care of their children. The most important thing affordable housing provides is hope and the possibility of a better life.

You made a good point that less psychological stress will help adults be better parents. With over 1, dedicated individual and organizational members nationwide, we are confident that together, with sustained advocacy, we can end homelessness and housing poverty in America once and for all. Encourage policymakers to support a comprehensive set of tools to solve the affordable housing crisis, including capital investments and rental assistance. Record-breaking numbers of families cannot afford a decent place to call home: Nationally, there is a shortage of more than 7 million affordable homes for our nation's View The Gap There is no state or county where a renter working full-time at minimum wage can afford a two-bedroom apartment.

View the Out of Reach Map Seventy percent of all extremely low-income families are severely cost-burdened, paying more than half their income on rent.

Obstacles in acquiring permits have been the main roadblock for real estate developers. From housing projects approved in , the figure fell to 16 last year and 12 in the first six months of this year, according to HoREA. There is a lack of transparency in the approval of projects that has left hundreds of projects struggling to acquire permits, it added. It also said that only At an October 30 meeting, Deputy Construction Minister Le Quang Hung said his ministry was working on policies to ensure that the majority of the nation's workforce, in the middle income group, have the opportunity to buy an apartment.

The ministry has already proposed several measures to boost the supply of affordable apartments in Hanoi and HCMC. These include a 50 percent discount on land fees and preferential interest rates of percent per annum for social housing projects. While apartments are currently required to have a minimum area of 45 square meters, the ministry is considering scrapping this requirement so smaller, cheaper apartments can be built. The HoREA, meanwhile, has proposed that the government provides credit support to first-time homebuyers as well as incentive tax policies for development of affordable housing.

As authorities try to find solutions to the housing problem, Ha and his wife are looking for another rented apartment in Hanoi to welcome a new baby, the only residential option for them in the increasingly crowded city.