-
An Evaluation Of The Challenges To Providing Affordable Housing In Nigeria
CHAPTER ONE -- [Total Page(s) 2]
Page 1 of 2
-
-
-
CHAPTER ONE:
INTRODUCTION
1.1 Background Information
Affordable Housing Overview
Housing
has a central importance to quality of life with considerable economic,
social, cultural and personal significance. Though a country’s national
prosperity is usually measured in economic terms, increasing wealth is
of diminished value unless all can share its benefits and if the growing
wealth is not used to redress growing social deficiencies, one of which
is housing (Erguden, 2001). Housing plays a huge role in revitalizing
economic growth in any country, with shelter being among key indicators
of development (Ireri, 2010). The universal declaration of human rights
gives one of the basic human rights as the right to a decent standard
of living, central to which is the access to adequate housing (United
Nations, The Human Rights – article 25, 1948). Housing as a basic human
right demands that urban dwellers should have access to decent housing,
defined as one that provides a foundation for, rather than being a
barrier to, good physical and mental health, personal development and
the fulfillment of life objectives (Seedhouse, 1986). The focus of this
research is housing for low income households or what is commonly known
as affordable housing. Affordable housing is a term used to describe
dwelling units whose total housing costs are deemed “affordable†to
those that have a median income. A median income refers to the average
pay scale level of the majority people in a population which is often
low. Although the term “affordable housing†is often applied to rental
housing that is within the financial means of those in the lower income
ranges of a geographical area, the concept is applicable to both renters
and purchasers in all income ranges (http://www.answers.com).
Low-income housing is aimed at individuals without enough income to
provide adequate housing for themselves and/or their families. These
families are usually unable to purchase a home because they fail to
qualify for a mortgage. Most families choose to rent based on their
income and family situation; unfortunately, there may not be enough
rental housing or enough good-quality rental housing for low-income
families (http://www.ehow.com).
1.2 Statement of the Problem
Provision
of adequate, affordable and decent housing for low income households is
clearly in short supply. The players in this industry are too few and
there seems to be a minimal interest of other private sector housing
developers to provide low income housing units. These private sector
developers as by their success in the middle and high income housing
markets, implies that they may have the capacity and skill set to supply
the low-income housing required to alleviate, at least partly, the
housing shortfall in the country (Hassanali, 2009). But they have shied
away from the low income market mainly because the profitability margins
are lower as compared to housing developments for the other markets.
CHAPTER ONE -- [Total Page(s) 2]
Page 1 of 2
-
-
ABSRACT - [ Total Page(s): 1 ]The context of this research study is provison of afforedable housing for Nigerians especially for the low income households.Housing is the provision of shelter; an abode to live in. Shelter should be adequate, affordable and decent. Adequate in that there are enough good quality rental and owner occupier housing units for low income families. Affordable in that total housing costs are affordable to those that have low income. Decent in that it provides a foundation for good physical and mental ... Continue reading---
