Housing Crisis! Are you ready?

Post 1: Creating a data set using secondary source

BY CHRISTY HUI

2007-434-housing-affordability.jpg

fig 1. housing affordability
Ditchburn, J. 2007, Housing Affordability, Inkcinct, viewed 10th August 2016, <http://www.inkcinct.com.au/web-pages/cartoons/past/2007/2007-434-housing-affordability.jpg&gt;

I chose to focus on the issue of housing affordability within Australia, specifically in Sydney. The problem with housing affordability has been around for many years, but the impact on young people have grown. With the house pricing and rent increasing, it is becoming more difficult for first home buyers to even purchase a property. Today, more young adults are either living at home and/or renting; home ownership within this age group have decreased drastically over a period of time. Since I thought this issue was very relevant to me, I decide to take on this issue and research a wide range of topics that could possibly help me understand more about housing.


Give first time buyers a break

This article is from the Parramatta Advertiser written by Aidan Devine. Devine wrote this article to inform home buyers or those who are interested in real estate about the housing affordability in Sydney. Aidan is a journalist that specialises in housing and real estate, he has written many articles  about this issue beforehand. Devine informs and contribute his thoughts on the issue of reforming stamp duty that reflects the bracket creep for growth in home prices. He is an expert in this field, providing information from primary sources quoting government  statement, but as well as his own insight on this issue.  His articles are factual information written in his own context, he is not bias with his articles but more so talks about what the problem might be. He also writes alot about other states in Australia is better with the housing affordability than Sydney, because of the difference in stamp duty and bracket creep. I believe this article are well researched and informative for readers to understand what is going on with the housing budgets and the affordability for first home buyers.


Moody’s: The problem with housing affordability in Australia’s capitals may have peaked

David Scutt is a markets and economics reporter for Business Insider Australia. Scott writes for aspirational business leaders or those who are interested in business. He presents idea and facts from other business companies and reiterates to his own context and further expanding on information for the readers. Scott also provides resources such as infographics to prove his statement for his article leading to a more factual based article. Quotes are used to further understand the housing affordability in Australia. Scutt has written many articles based on different issues and topics but mostly all about economic growth, stocks and trading. I agree that Scutt has proven a few points about the government and the housing affordability, that younger generation like us have little to no chance of stepping into the property industry. His position in this article is to discuss the problem and the reason why housing affordability is a thing, but also taking primary sources from Moody’s Investor Service, analyst Natsumi Matsuda who talks about problems in housing affordability.


Housing affordability, inequality and our flat lining household incomes

Greg Jericho writes on economics for Guardian Australia, this article are for readers who are interested in economy and markets. Jericho contributes to secondary resources, but also expert in the area of economics, using sources to back up his information. This article about housing affordability and the income of households, he helps breaks down and discusses a report about Household, Income and Labour Dynamics in Australia (Hilda). Jericho compares the economics growth with America and Australia, using charts, infographics and data for a  further understand these issues to why Australia is suffering with housing affordability crisis.

As the report notes, “the increase in income stability from year to year is a positive development for people with good incomes, this is not a good development for people with low incomes, since they are more likely to have persistently low incomes”

This means home ownership is becoming less and less common due to the deadly combination of flattening income and increasing housing prices. Jericho also discusses the difference with American household income to the Australian household income and how it plays a major part of the housing crisis. This article is factual and researched based as he applies he own perspective on this issue but also relating his perspective to the Hilda Survey Report.


Are shipping containers really the answer for affordable housing? Time for a reality check.

This article is about affordable houses and how people are looking for alternative ways to build accommodation more cheaply. Vidyasagar Potdar is the author for this article, he write this for those who are interested in creative solutions for housing. The motivation for this article discusses the advantages of livable shipment containers that has been transformed into homes. Also mentioning that it is a great way for recycling and environmental sustainability. Potter is a specialist in the areas of low cost housing and constructions, he researches and writes articles based on his area of interest. This article is an editorial, it is well researched stating pros and cons of turning shipping containers into homes. It also discusses many aspects such as the space being used, the comfort level and the health and safety concerns. The authors position is neutral, where he recommends that more research should be done by the readers if they are interested with building a home, and looking into the housing requirements and the designs involved.


The affordable housing solution that actually works

Finding affordable housing solutions is a great start to helping those with low income earner being able to become a first home buyer. Wenlei Ma is a journalist for news.com.au, explains how Sydney and Melbourne are ranked the world’s most priciest cities for cost-of-living. Whilst low income Australians and young people are being kicked out of the property markets due to unaffordable housing prices. She introduces the organisation, City of Sydney, helping those with low income move into establishments reserved for low and medium income earner with local government areas. Her article is structured in a way to explore the problem of housing but also how the local government is creating solutions for this issue. I found this article very interesting as we are confronted with personal experiences by those who have been struggling with affordable housing.

“It’s pretty incredible that we can pay a capped portion of our income. With having a baby we couldn’t afford to stay in the area which is close to friends, family and work. I don’t think people are necessarily entitled to live close to work but it definitely makes a huge difference.”

This article is factual, opinion-based and research, as Ma takes real life stories and experiences to inform those who might be struggling with housing price that there are a different solution for cheaper and more affordable pricing.


How can Australia fix its housing affordability crisis?

With soaring house prices, it is putting the dream of home ownership beyond many Australians. Richard Aedy is a journalist and radio announcer for the ABC Radio National, he covers a wide range of topics such as crime, health, technology, education, economics, epidemiology, indigenous issues, social change and the media. Adey explains the Australian cultural attachment of owning their own home, where we all want to have an aspirational lifestyle. He challenges the idea of rental housing and how it “limits” your lifestyle in comparison to those with home ownership. In this podcast, Adey also invited guests within the field to help audience to familiarise with this issue, what home ownership in a suburban setting with land attached can make possible that renting often doesn’t? When homeownership is unattainable for the majority and renting is the only choice we have in the future, this means there are barriers for home ownership. These barriers is the wealth of the household rather than the income. I thought this was interesting when Adey also discuss about the under supply in our cities, and the problem in the housing market. This podcast is factual with personal perspective based on this issue to help keep audience interested.


 References:

Devine, A. 2016, ‘Give first time buyers a break‘, RealEstates, Parramatta Advertiser, p. 21, viewed 26th July 2016

Scutt, D. 2016, ‘Moody’s: The problem with housing affordability in Australia’s capitals may have peaked‘, Business Insider, viewed 26th July <http://www.businessinsider.com.au/moodys-the-problem-with-housing-affordability-in-australias-capitals-may-have-peaked-2016-5&gt;

Jericho, G. 2016, ‘Housing affordability, inequality and our flat lining household incomes‘, The Guardian, viewed 27th July, <https://www.theguardian.com/business/grogonomics/2016/jul/21/housing-affordability-inequality-and-our-flatlining-household-incomes&gt;

Potdar, V. 2016, ‘Are shipping containers really the answer for affordable housing? Time for a reality check.‘, The Conversation, viewed 27th July, <http://theconversation.com/are-shipping-containers-really-the-answer-for-affordable-housing-time-for-a-reality-check-60321&gt;

Ma, W. 2016, ‘The affordable housing solution that actually works‘, new.com.au, viewed 30th July 2016, <http://theconversation.com/are-shipping-containers-really-the-answer-for-affordable-housing-time-for-a-reality-check-60321&gt;

Adey, R. 2016, ‘Housing affordability crisis prompts debate over negative gearing‘, ABC Radio National, viwhttp://www.abc.net.au/radionational/programs/themoney/housing-affordability-crisis-prompts-debate-over-negative-geari/7259614

 

 

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