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. 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. Many governments have one or more housing authorities, sometimes also called a housing ministry, or housing department.

Macroeconomy and housing price

Previous research shows that housing price is affected by the macroeconomy. Li et al. '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 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.

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.