In the last decades, the cost of housing has been on upward trajectory in U.S. Several factors are responsible for this trend. House prices are increasing due to less land for development resulting in a situation where demand is high but supply is less. House prices and rents have also increased due to improved construction materials and changes in planning regulations (Himmelberg et al., 2005). Additionally, local and state governments have reduced funding of affordable housing.
The article by Bujang et al. (2017) uses both primary and secondary data to achieve the objectives of the study. The primary data was collected using a field survey by designing several questionnaires. The questions in the questionnaires were all closed-ended. On the other hand, secondary data was derived from the previous studies' literature review, such as articles and journals. In the study, the independent variable was housing affordability, while the dependent variables were the factors that influence house affordability. These factors include household age, loan payment period, type of household occupation, and loan payment amount.
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From the study's findings, it clear that the most influenced factor in determining housing affordability is the price of houses. Housing prices provided in the current market is challenging to the middle class. Additionally, the rent paid also influences house affordability. High rent is as a result of facilities equipped in urban and rural areas and conditions issued by house owners. Lastly, the finding reveals that lower household income is also a contributing factor that affects house affordability. The analysis shows that 68% of the respondents cannot buy a house due to low income.
The second peer-reviewed article by Ortiz & Johannes (2018) elaborates on the US's housing crisis. The study uses qualitative and quantitative data collected from a national survey to understand that housing affordability is the primary driver of health. Close-ended questions were all collected from previous studies such as California Health Interview and National Health Interview Survey. Several questions about demographic and social characteristics were provided to the respondents. In the study, the independent variable tested was house affordability and several independent variables include homeownership, gender, rural residence, and educational attainment.
The study results demonstrate that the beliefs about the connection between house affordability and health services are shaped by respondents' political environment. Second, the results showed that house affordability influences health, and they are not readily volunteered. Additionally, factors like security, stability, and personal responsibility contributes to high-income earners. The issues about housing affordability in several areas are related to developers policymakers. The qualitative data analysis revealed that government efforts to maximize affordable house opportunities could be supported by individuals through personal responsibility.
Summing up, the topic about factors affecting housing affordability is a broad topic that requires the utilization of both primary and secondary data. The two peers reviewed articles used primary and secondary data that makes the studies to be effective and reliable. The results of both articles show several factors linked to house affordability. For example, in the first article, like loan payment period, type of household occupation and loan payment affect house affordability. In the second article, factors like security, stability, and personal responsibility contributes to high-income earners.
References
Bujang, A. A., Shapee, N. A. S., & Abu Zarin, H. Ismail. A. 2017. Factors influencing the housing affordability stress among Bumiputera. International Journal of Real Estate Studies , 11 (4), 125-136.
Himmelberg, C., Mayer, C., & Sinai, T. (2005). Assessing high house prices: Bubbles, fundamentals, and misperceptions. https://doi.org/10.3386/w11643
Ortiz, S. E., & Johannes, B. L. (2018). Building the case for housing policy: Understanding public beliefs about housing affordability as a key social determinant of health. SSM-population health , 6 , 63-71.
