Throughout the previous weeks of in class in-depth brainstorming, it has significantly increased my awareness of the amass of different stake holders that participate through the housing spectrum. It became overwhelming once we had commenced a deeper look into different and specific companies and organisations with the sear amount of man power needed to run a property development. Although we have collected all this information there was not a use for them till the most recently class. During the most recently class, all out previous dug up research was put into use, in search of a possible direction for our future design proposal. As a small group we brainstormed different proposal possibilities and to make our possibilities more specific we defined the five W’s of: Who, What, When, Where and Why
Who does it affect?
Looking into our stake holders mind map, a clear group affected by the housing crisis would be Generation Y and future generations. Whilst previous generations were able to attain houses much easier due to lower housing cost and a better proportioned income to housing cost ratio, Generation Y and future generations have to face the lasting effects low-interest rates, oversea investors, massive income to housing price gaps and so much more.
What are the boundaries of this issue?
There are a significant amount of boundaries that the housing crisis faces that include:
• Financial Markets
• Low interest rates
• Previous Generations
• Oversea investors
• Pay gaps / median income
• Personal priorities
When does it occur?
The housing issue has being occurring for multiple years already and is still continuing to be in effect. Although it is currently in effect, the ones noticing it more would be first home buyers or people on the market searching for dwellings.
Where does this issue occur?
This issue is prominent in most of Sydney and parts of Melbourne whilst also occurring throughout parts of Australia and even in many foreign countries, for example Hong Kong. Real estate has become such a hot market in Sydney, that being able to afford housing in the convenience of the CBD is rather impossible.
Why is this issue important?
This issue is important because it is affecting the current Australian generation and future generations as well, alongside low to median income households. Whilst the housing prices continue to rocket, it is pushing many that are unable to afford further and further away from the CBD leaving only the riches.
Five statement summary
• Sydney’s high cost of living paired with high housing costs create an unequal playing field for low to mid income earning young Australians that want to step foot in to purchase a dwelling with a housing market dominated by baby boomers and foreign investors.
• The Australian dream is actually becoming a dream for many, especially towards the current and future generations
• Young Australians are not prioritising for house deposits earlier on, but rather much later when its time to purchase
• It is becoming increasingly difficult to purchase property in a suburb you favour, rather your income now determines where you will live
• Government and organisations are not collaborating in means to reverse the effects of the current housing crisis
• A website that enables individuals to calculate their salary and expenses whilst juxtaposing it to their goals of purchasing a future dwelling, including the calculation of taxes and mortgage repayments
• A website that informs individuals on different living solutions based off their income• A design proposal that focuses on achieving affordable and convenient living solutions for current and future generations through maximising use of space with multi purpose spaces
• Develop a website that plays on the Australian housing crisis through an informative yet aggressive tone. The website would essentially inform individuals in their ability to afford particular dwellings whilst also aggressively rejecting them if they can not. This would in away also voice how the Australia public view the housing market.
Looking into the housing affordability crisis, it seemed like many individuals especially between 18-24 did not have much knowledge on the housing market at all. Whilst many dream about being able to live in convenient locations, many that still live at home are not equipped with knowledge of just how much housing solutions costs. Therefore I wanted to create a website that would help aid individuals into finding affordable living situations. A website where the user would input their expenses and salary, and through those figures help find areas where the user can afford comfortably.