Affordable Housing as a Social Problem

Affordable Housing as a Social Problem. The issue of affordable housing has been an issue over the last few years. Most people in different parts of the world live in rental houses. In the United States, 80 percent of the country’s working class population lives in rental households. In 2010, these people together with a quarter of the entire population in the U.S. started experiencing difficulties in meeting their housing cost. Their total expenditure on housing rose by large margin prompting them to use more than 50 percent of their total household earnings on rent payment. Since 2010 the problems of affordable housing have been a challenge to many citizens, especially the low income earners.

Statistical figures in housing have been showing dramatic changes over the years. Since 2007, people living in rental households have experienced a surge in their housing cost of about 43.5 percent. Although the increase in the cost of housing started taking place in the late 1990s, the marginal increase by that time was very minimal. In 2001-2003, over a span of there years the rise in the housing cost was only 3.2 percent and not many people faced a problem in paying up their rent. This rapid increase in the cost of housing in the United States has posed as a challenge to many people especially moderate and low income earners.

The need for affordable housing has been growing rapidly over the years. This was after the Great Recession (Chiarenza, 2013). Due to the bad economic times faced by the United States, both the providers faced challenges in their efforts to offer rental services at prices reasonable to the seekers. On the other hand, people seeking rental houses face problems as they look for a house that they can rent at an affordable price. An individual’s income poses as the main determinant on the cost of housing a person will go for.

These challenges have led to an increase on the gap between the supply and the demand of affordable homes. During this recession, income was lost by millions of households. Others faced large debts which ended up compromising their capital stability. During this period many of the owners households decided to become renters adding more pressure into the market which was already having problems.

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