Buy custom Increasing The Supply Of Cost Effective Housing Products
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Topic: |
Business
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Number of pages / Number of words: |
8 / 1986 |
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Currently, the median multiple is an absurd 7, or even 8 times the median income in some areas (The Residential Development Council 2007). To put the issue in perspective, the 3rd Annual Demographia International Affordability Survey: 2007 which uses the median multiple to compare housing affordability internationally, places many Australian cities in the top 27 most unaffordable in the world with Sydney coming in at number 7...
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Another common measure of affordability is the 40/30 rule where if the bottom 40% of a nationâs income earners spend more than 30% of their income on housing, they are considered to be in a situation known as Housing Stress (Australian Housing and Urban Research Institute 2006). An extensive research paper commissioned by the Australian Housing and Urban research institute, Housing Affordability in Australia, shows that 862 000 Australians are living under housing stress...
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General points of the essay
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