More than a brick and concrete, a house is a home that serves to shelter as well as protect and nurture the people who live there. A home is a sanctuary that provides an enabling environment for the residents to thrive by supporting and encouraging their professional and personal development. Unfortunately, many people in the world cannot afford the kind of housing that allows them to live in the comfort and security required to enjoy a high quality of life. Unlike popular opinion, affordable housing, promoted by both the government and private parties, is not something done with a charitable motive. It is merely a tactic that frees them from the shackles of high rents and allows them to shape their lives according to their dreams. Some of the well-known impacts of affordable housing include:
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Enables the Building of Sustainable Communities
Affordable housing benefits the families living in them and also entire neighborhoods, says Maxwell Drever. Multiple studies have proven that the communities surrounding affordable housing projects gain significantly by the presence of affordable housing projects due to many reasons. The reasons include uplifting the quality of life of the residents, promoting social interaction and connection, reducing crowding, and attracting new businesses. Additionally, it generates jobs, increases the value of properties, and lowers crime rates. The increased spending power of the residents translates to more economic activity for local businesses and job creation in the form of more shops, healthcare facilities, entertainment, and dining opportunities.
Helps Shape the Future of Children
Various studies have shown the strong linkages of emotional and behavioral issues of children with poor quality housing. Poor quality housing and the lack of its stability are strong indicators of problems in behavior in children belonging to the low-income group, according to The National Low Income Housing Coalition. Resolving the issue of affordable housing is the most cost-effective method of boosting economic mobility and reducing the impact of poverty. With stable housing, children can study better and spend more time with their parents, both of which can facilitate a better tomorrow, observes Maxwell Drever.
Encourages Societal Diversity
It is seen that you have more diverse communities wherever there are affordable housing development projects. People from different educational, ethnic, cultural, and social-economic backgrounds make up a more diverse community. These communities typically display more cultural sensitivity, understanding of other backgrounds, and a sense of fairness, all of which lead to overall better community health. It is observed that investments in community building help residents who hail from different backgrounds overcome their fears and doubts and come together to build positive relationships across different ethnic and cultural boundaries. It helps the establishment of robust and diversified neighborhoods that have residents enjoying a better quality of life.
Conclusion
Given the demonstrated benefits of affordable housing, both the government and private sector need to come together to support affordable housing development in local communities. With families being able to buy a home for the first time, children and their parents can look forward to building a better future for themselves.