Of all the fundamental human requirements, shelter is primary. The workforce population forms the backbone of society. Even after scientific and technological development, various countries are still grappling with shelter issues among the poor. The increase in the urban population has further aggravated the problem. Constant migration from rural to urban sectors has resulted in an unbearable strain on housing services. In such a scenario, where the metropolitan area housing demand has seen a surge, the workforce still struggles to get housing. If you go by statistics of international organizations, you will see that the urban housing shortage has brought various individuals on the verge of homelessness. They are struggling with absolute shortage along with increasing costs of daily essentials.
Affordable Housing Unit’s aims to counter the issue
People believe that investing in an affordable housing unit is unprofitable. However, that is not so. In various countries, the federal government intervenes to provide legal help to real estate investors. Federal intervention has become necessary for meeting the housing requirement. Along with this, the vulnerable section gets a positive environment and achieves its goal of shelter. Since various governments have introduced habitat and housing policies, it ensures the basic need of protection to all. Real estate investors are grabbing this opportunity to make some money. Whether the household, private or public sector, the option stands significant for all. The central domain of these policies is a private-public partnership for tackling habitat and housing issues, demonstrates Maxwell Drever. Under these new policies, the government provides fiscal concession regulatory reforms and facilitates tax cuts required to boost the process of construction.
Role of the private sector
Yes, the private sector plays an essential role in constructing housing sectors. Although they have encountered multiple problems, investing in this infrastructure project has become profitable. Whether public housing agencies or the corporate sectors, they are encouraged to share dual responsibility. People believe that resources are not accessible by investors. However, it is not so. There are multiple financial institutions providing loans and mortgages to help with a smooth flow of capital, speculates Maxwell Drever. Several urban and housing development corporations have started functioning to provide monetary support to these projects. They focus on housing facilities and target the economically weaker section of society. The workforce population, whose median income is between 80 to 120%, has thereby got a ray of hope.
Industrial housing schemes
Industrial sectors introduce many schemes to provide the workforce population with decent shelter. They provide loans to ensure the smooth flow of capital. Along with this, state governments and industries have come together to construct affordable housing units. Although prior permission from the government becomes mandatory for undertaking any project, the government looks liberal when making these policies. Hence, it is a supportive environment that must be harnessed for those working in this field.
A favorable attitude can go a long way in creating a happy and healthy community. People should devise new ways to overcome hurdles that hinder housing projects.