Is Affordable Housing Socially and Economically Beneficial to the Community?

Governments must do their best in making quality affordable housing options. The housing crisis is very real in all parts of the world. Millennials, most especially, are affected by the rising cost of housing. They can no longer afford housing the way the Baby Boomers and Silent Generation could. They needed to stay with their parents and are unable to start a family of their own. This phenomenon has such a big impact on societies and communities.

If there are affordable and quality house and land packages in Townsville and other cities, families will thrive. Communities will reap the rewards. Affordable housing is not a handout. It is not designed to spoon-feed the less fortunate. Housing is a necessity. If you remember, shelter is in Maslow’s hierarchy of needs.

The effects of affordable housing are profound. It has the power to transform communities for the better. In a nutshell, affordable housing improves the quality of life. It leads to better health and makes families an active contributor to the community.

Attracts Professionals and Other Service Providers

Do you know who needs affordable housing? These are teachers, policemen, nurses, firefighters, and other service providers. These are the people who cannot afford a huge mortgage because of their measly salaries. They cannot afford to make a huge down payment for a detached home, so they look at affordable housing complexes. Wouldn’t you want to be neighbors with these people?

Benefits Children’s Physical and Emotional Well-being

A stable housing community is critical for children’s physical and psychological well-being. Low-income children usually develop depression and anxiety because of their housing conditions. Their parents also suffer from psychological stress because they fail to provide better housing for their children. Kids who have to live in houses with pests and rodent infestation, leaky roofs, busted pipes, and a lack of light, heat, or water often have to deal with intellectual and cognitive inadequacies.

Contributes to the Local Economy

Local governments benefit from having affordable housing options. Building 100 homes, for example, can generate up to $12 million in local income. The residents will also need to pay state taxes, so that’s added revenue for the local governments. They will put up businesses and support local businesses.

Promotes Diversity

home loan concept

Affordable housing communities promote diversity because they bring together people from different backgrounds, cultures, races, and socio-economic status. This leads to reduced racial discrimination and tension among different races. They promote tolerance, sensitivity, and equality. On the other hand, communities without affordable housing segregate families and lead to higher poverty incidences.

Generates Jobs for Locals

The presence of affordable housing will attract small and large businesses to the neighborhood. This generates jobs that benefit everyone in the community, from the college kid who needs extra money to the father who has to provide for his five children. Having stable jobs will lower the risk of evictions and foreclosures. It will also allow parents to provide for their children better.

Housing is more than just putting a roof over one’s head. It provides stability and the hope for a better life. Children need to grow up in a more stable environment where they can thrive physically, emotionally, and psychologically. Governments must do their best to build affordable housing communities. This is an investment that will pay off now and for the decades to come.

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