When thinking about affordable housing, most individuals think about the role of government at different stages in curbing this issue of homelessness. However, the responsibility does not lie on the government singlehandedly. Both government and non-governmental institutions have to come forward to deter this affordability issue says Maxwell Drever.
State and local governments are trying their best to prevent the problem from taking a global stance. However, the reality is far from this. The results are predictable. Housing prices, inflation rate, and restrictions on new constructions are rising. Amidst all these, a modest home is far from reality. As a result, governments are suffering to provide shelter to homeless individuals.
The dark side of restriction
Various economists have studied how housing and construction restrictions obstruct the real estate industry. Several methods can separate the effect of scarce land from building protocols. One cruel thing that came to the forefront is the reality that one person has more land than the other, leading to the crisis, believes Maxwell Drever. Land scarcity is a crucial factor to bring under consideration.
- The need of the hour is a proactive role of the government to address this issue and identify the underlying cause.
- As already mentioned, the worldwide pandemic is responsible for the hardship of the workforce population.
- Hence, a proper approach between the government and non-governmental organizations is necessary to mediate this issue of homelessness.
A bright ray
Several legislators have started working in this direction as in the western world—various steps in the last few years for nullifying restrictive permits to encourage homeowners to build new structures.
- In the past few years, various governments have tried to work to limit the local and state restriction on construction.
- They are thereby subdividing their land and converting their estates into duplexes.
Various homeowners are repurposing their properties into a duplex and allotting each for a residential unit. It is effectively increasing the number of housing units in the community.
Do away with the misconception
Various misconceptions canter around the concept of affordable housing. People look at the term as filled with challenges. However, the reality is far from this. Investment in the affordable workforce housing project is profitable for every individual working in this field, as explained by Maxwell Drever.
It’s because the demand for housing units will never go down. When there is a smooth supply of residential units, the prices of houses will also be stable. The gap between demand and supply of residential units will reduce in the procedure.
Although people took many steps, these are not enough. To provide single-family units, proper analysis of land use is necessary. Along with this, homeowners and real estate investors must join hands and build their plans cohesively. They can take the help of governmental provisions and grant programs to grab the revenues and invest the same in this direction.
By introducing inclusionary zoning programs, governments can do away with the problem of the affordable housing crisis says Maxwell Drever. The term inclusionary zoning seems synonymous with price control. Inclusionary zoning can work according to the interest of governments and the workforce population in general. Moreover, more governmental interference in this issue is necessary for nullifying the restrictive rules and regulations.