HOUSING AFFORDABILITY STRESS: A LITERATURE SURVEY AND SOME EVIDENCE FROM MALAYSIA
Abstract
Housing affordability stress has become an economic challenge to households in several countries, including Malaysia. Housing quality is the fundamental factors that affecting the wellbeing of the households. However, the rise in house price has squeezed the purchasing power of households in housing ownership and significantly diminishing the quality of life. The extensive gap between house prices and household’s affordability and therefore some households forced to rent poor-quality housing and neigbourhood, thus lead to housing stress and weakening a household’s well-being. In addition, housing needs to be equipped basic standard, providing reasonable access to employment and community services that is available at a cost which does not cause substantial hardship to the occupants. Thus, the aim of this paper is to explore the theoretical review of housing stress and empirical literature. There are associations between the housing stress measure on affordability and wellbeing, including financial stress, health and neighbourhood quality. Further, governments need to adopt more effective housing policies if they are to meet the needs of the householdsReferences
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