An Affordability Home Series
How to make affordable housing a reality?
First and foremost, It is highly important to delink the myth between social housing and affordable housing. Affordable housing does not upscale the market, for the main reason, it is often compared to social housing, on the basis of material, quality and standard equations.
Delink the myth of comparison between affordable and social
In order to signify the importance of affordable housing, it is important to delink the myth comparing between affordable and social housing.
Both have same and similar objective, namely to serve the segment of the society that cannot own homes. However, they differ in their outcome, mission, method, process, market and target audience. While social housing caters to people with low-to-low household incomes and the homeless, Affordable housing provides homes to those who struggle to match up the rising cost in the home segment prevalent in the society, simply a price they cannot simply afford.
In social housing there is no choice, because it is given/gifted; but in affordable housing, there is a choice, because it is bought.
In a very simple sentence, affordable caters to the mid-income segment, matching all the requirements and standards of housing models prevalent in the market.
It cannot be linked with social housing.
Low costing is not affordable
Affordable housing becomes a key issue specially in developing countries where the large majority of the population is not able to buy houses at the market rates.
This is where we need to strike a balance between two things. People who cannot own homes, because they have no means; and people can own homes with some disposable income, yet cannot avail a home at the current market price, because it is steep high.
For those, who cannot afford with their means, the Govt and other Foundations plan and build low cost housings. These are often called as social housing.
However for those with disposable income, specially the mid-segment, the Govts do plan affordable housing with public-private partnerships(PPP). This aims at providing housing with same high-end quality and requirements the of any other housing component matching the market requirement.
Affordablility is for all who dare to own a home
With the rising cost of materials, labour and land, affordability is the only way towards building a better and balancing future for those, who live and dream with the some disposable income, yet cannot own a home.
Affordability will be a reality for those who dare to dream. It applies to the provider and the recipient. It applies to the builders, because they have to see a huge market in this gab. it applies to the mid-segment of the society, because they must turn their dream into reality.
Therefore I say, affordability is for all who dare to dream.
At Manovsis, we strive to make this a reality.
Elias Moses is a Senior Business Strategist, Consultant, Researcher, Corporate and Leadership Trainer, Orator, Columnist and an Entrepreneur. He is the Founder and Managing Director of a growing reality firm in south India. He is also the founder of Managing Next, an Online portal for knowledge share and Management Consulting.
The author can be contacted@
email: elias@manovsis.in, elias@managingnext.in, linkedin: www.linkedin.com/in/eliasmoses