Housing

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Housing, or more generally living spaces, refers to the construction and assigned usage of houses or buildings collectively, for the purpose of sheltering people — the planning or provision delivered by an authority, with related meanings.[1] The social issue is of ensuring that members of society have a home in which to live, whether this is a house, or some other kind of dwelling, lodging, or shelter.[2] Many governments have one or more housing authorities, sometimes also called a housing ministry, or housing department.

Macroeconomy and housing price[edit]

Previous research shows that housing price is affected by the macroeconomy. Li et al. (2018)'s research showed that 1% increase in the Consumer Price Index leads to a $3,559,715 increase in housing prices and raises the property price per square feet by $119.3387. Money Supply (M2) has a positive relationship with housing prices. As M2 increases by one unit, housing prices will rise by 0.0618 in a study conducted in Hong Kong. When there is a 1% increase in the best lending rate, housing prices drop by between $18,237.26 and $28,681.17 in the HAC model. Mortgage repayments lead to a rise in the discount window base rate. A 1% rise in the rate leads to a $14,314.69 drop in housing prices, and an average selling price drop of $585,335.50. As the US real interest rate increases, the interest rates in Hong Kong must follow, increasing the mortgage repayments. When there is a 1% increase in the US real interest rate, the property prices decreased from $9302.845 to $4957.274, and saleable area drops by $4.955206 and $14.01284. When there is a 1% rise in overnight Hong Kong Interbank Offered Rate, the housing prices drop to about 3455.529, and the price per ft2 will drop by $187.3119.[3]

Effect on health[edit]

Housing is recognized as a social determinant of health. Lack of housing or poor-quality housing can negatively affect an individual's physical and mental health. Housing attributes that negatively affect physical health include dampness, mold, inadequate heating, and overcrowding. Mental health is also affected by inadequate heating, overcrowding, dampness, and mold, as well as lack of personal space.[4] Housing can affect the health of children through exposure to asthma triggers or lead, and through injuries due to structural deficiencies (e.g. lack of window guards or radiator covers).[5]

See also[edit]

References[edit]

  1. ^ "housing". Oxford English Dictionary (Online ed.). Oxford University Press. (Subscription or participating institution membership required.)
  2. ^ Gwendolyn Wright, Building the Dream: A Social History of Housing in America (MIT press, 1983)
  3. ^ Li, R.Y.M. (2018). "Have Housing Prices Gone with the Smelly Wind? Big Data Analysis on Landfill in Hong Kong". Sustainability. 10 (2): 341. doi:10.3390/su10020341. S2CID 158813714.
  4. ^ Rolfe, Steve; Garnham, Lisa; Godwin, Jon; Anderson, Isobel; Seaman, Pete; Donaldson, Cam (2020). "Housing as a social determinant of health and wellbeing: Developing an empirically-informed realist theoretical framework". BMC Public Health. 20 (1): 1138. doi:10.1186/s12889-020-09224-0. PMC 7370492. PMID 32689966.
  5. ^ Dunn, James R. (2020). "Housing and Healthy Child Development: Known and Potential Impacts of Interventions". Annual Review of Public Health. 41: 381–396. doi:10.1146/annurev-publhealth-040119-094050. PMID 31874071.

External links[edit]

The dictionary definition of housing at Wiktionary