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The interplay of sustainable elements for low cost housing affordability and their manifestations on the choice of new home

Ubale, Mohammed Yahaya and Martin , David Juanil and Seow , Ta Wee The interplay of sustainable elements for low cost housing affordability and their manifestations on the choice of new home. In: International Conference On Management, Economics and Finance (ICMEF 2012), 15-16 October 2012, Kuching, Sarawak.

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Abstract

The current housing policies do not usually highlight on the sustainable elements for low cost housing affordability by the low income earners. Affordability is not an inherent characteristic of housing, but a relationship between income and relative prices (Stone, 1994 p.21). Housing affordability can be viewed from three different perspectives: affordability for renters; affordability for future home owners; and affordability for existing homeowners (DTZ New Zealand 2004). Findings: It is observed that salaries and wages are not commensurate to the swelling home prices. Whilst house prices are becoming more and sourer, salaries and wages are unavoidably stagnant. This forges further affordability problems especially on the low income earners whose income is already frozen by lean education level, high dependency ratio, family issues marred with ties, ethics and race.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: affordability;low cost housing;sustainable elements and low income earners
Subjects: H Social Sciences > HT Communities. Classes. Races
Divisions: Faculty of Technology Management and Business > Department of Real Estate Management
Depositing User: Ms Aryanti Ahmad
Date Deposited: 01 Jan 2013 08:04
Last Modified: 01 Jan 2013 08:04
URI: http://eprints.uthm.edu.my/id/eprint/3374
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