Housing

Housing, or more generally living spaces, refers to the construction and assigned usage of houses or buildings collectively, for the purpose of sheltering people — the planning or provision delivered by an authority, with related meanings.[1] The social issue is of ensuring that members of society have a home in which to live, whether this is a house, or some other kind of dwelling, lodging, or shelter.[2] Many governments have one or more housing authorities, sometimes also called a housing ministry, or housing department.

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Living spaces
"Living space" redirects here. For the German foreign policy, see Lebensraum. For the Isaac Asimov short story, see Living Space.

Macroeconomy and housing price

Previous research shows that housing price is affected by the macroeconomy. Li et al. (2018)'s research showed that 1% increase in the Consumer Price Index leads to a $3,559,715 increase in housing prices and raises the property price per square feet by $119.3387. Money Supply (M2) has a positive relationship with housing prices. As M2 increases by one unit, housing prices will rise by 0.0618 in a study conducted in Hong Kong. When there is a 1% increase in the best lending rate, housing prices drop by between $18,237.26 and $28,681.17 in the HAC model. Mortgage repayments lead to a rise in the discount window base rate. A 1% rise in the rate leads to a $14,314.69 drop in housing prices, and an average selling price drop of $585,335.50. As the US real interest rate increases, the interest rates in Hong Kong must follow, increasing the mortgage repayments. When there is a 1% increase in the US real interest rate, the property prices decreased from $9302.845 to $4957.274, and saleable area drops by $4.955206 and $14.01284. When there is a 1% rise in overnight Hong Kong Interbank Offered Rate, the housing prices drop to about 3455.529, and the price per ft2 will drop by $187.3119.[3]

Living space in terms of units of area

The amount of square meters or square feet used as housing per family group can vary considerably - even within a single jurisdiction.[4]

See also

References
  1. "housing". Oxford English Dictionary (3rd ed.). Oxford University Press. September 2005. (Subscription or UK public library membership required.)
  2. Gwendolyn Wright, Building the Dream: A Social History of Housing in America (MIT press, 1983)
  3. Li, R.Y.M. (2018). "Have Housing Prices Gone with the Smelly Wind? Big Data Analysis on Landfill in Hong Kong". Sustainability. 10 (2): 341.
  4. In the United States in 1989, for example: What Do We Pay for Living Space?. Statistical brief. U.S. Department of Commerce, Economics and Statistics Administration, Bureau of the Census. 1993. Retrieved 18 November 2019. The largest owner-occupied, single-family, detached homes were in the Northeast (a median of 2,189 square feet large) followed by the Midwest (1,969), West (1,745), and South (1,673)

The dictionary definition of housing at Wiktionary

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