Tuesday, January 7, 2020

Housing Is Categorized Under Basic Commodities - 2127 Words

Housing is categorized under basic commodities. Despite the necessity associated with proper housing, families and individuals all over the world continue to have trouble in affording proper housing facilities. Affordable housing refers to a kind of accommodation that is suitable for the needs of a range of very low to medium income families. Affordable housing should be priced so that these households can be in a position to cater for their other basic living costs such as food, medical care, clothing, education and transport. Housing is a combined product of land and buildings. Accommodation bargain-basement relays to an individuals capability to pay for their housing at a given point in time. It is a multifarious issue brought about by labor markets and local housing as well as larger macro-economic, environmental and social forces. As citizens in Australia continue to experience shortage of affordable housing, economics continue to debate on the necessity of government intervent ion in the issue. Housing affordability may result to stress in situations where people strain to meet the cost of simple yet suitable houses. Naturally, people are supposed to spend a mere 20% of their income on housing. However, people in Australia spend more than 40 percent of their income on housing. This means that people do not retain enough money to cater for other basic needs such as medical, food and clothing. The lack of affordable housing means that people experience poor livingShow MoreRelatedPoverty And Poverty1721 Words   |  7 Pagesoil prices that make food transport pricey and diversion of corn for use as a biofuel all contribute to the price spike† (Clemmitt). The result of globalization has directed poor and unstable countries to â€Å"Abandon domestic food crops in favor of commodity crops for export. 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