Housing refers to a property containing one or more

shelter A shelter is an architectural structure or natural formation (or a combination of the two) providing protection from the local environment. A shelter can serve as a home or be provided by a residential institution. It can be understood as both ...

as a living space. Housing spaces are inhabited either by individuals or a collective group of people. Housing is also referred to as a human

need A need is a deficiency at a point of time and in a given context. Needs are distinguished from wants. In the case of a need, a deficiency causes a clear adverse outcome: a dysfunction or death. In other words, a need is something required for a ...

and

human right Human rights are universally recognized moral principles or norms that establish standards of human behavior and are often protected by both national and international laws. These rights are considered inherent and inalienable, meaning t ...

, playing a critical role in shaping the

quality of life Quality of life (QOL) is defined by the World Health Organization as "an individual's perception of their position in life in the context of the culture and value systems in which they live and in relation to their goals, expectations, standards ...

for individuals, families, and communities. As a result, the quality and type of housing an individual or collective inhabits plays a large role in

housing organization Housing tenure is a financial arrangement and ownership structure under which someone has the right to live in a house or apartment. The most frequent forms are tenancy, in which rent is paid by the occupant to a landlord, and owner-occupancy, w ...

and housing

policy Policy is a deliberate system of guidelines to guide decisions and achieve rational outcomes. A policy is a statement of intent and is implemented as a procedure or protocol. Policies are generally adopted by a governance body within an or ...

Overview

Housing is a physical structure indented for

dwelling In law, a dwelling (also known as a residence, abode or domicile) is a self-contained unit of accommodation – such as a house, apartment, mobile home, houseboat, recreational vehicle, or other "substantial" structure – used as a home by ...

lodging Lodging refers to the use of a short-term dwelling, usually by renting the living space or sometimes through some other arrangement. People who travel and stay away from home for more than a day need lodging for sleep, rest, food, safety, shel ...

that homes people and provides them with a place to reside. Housing includes a wide range of sub-genres from apartments and houses to temporary shelters and emergency accommodations. Access to safe, affordable, and stable housing is essential for a person to achieve optimal health, safety, and overall well-being. Housing affects economic, social, and cultural opportunities as it is directly linked to education, employment, healthcare, and social networks. In many countries, housing policies and programs have been developed to address housing issues related to affordability, quality, and availability. These programs and policies are referred to as housing authorities, also known as a housing ministry or housing department. Generally, there are two types of housing,

market housing Market is a term used to describe concepts such as: *Market (economics), system in which parties engage in transactions according to supply and demand *Market economy *Marketplace, a physical marketplace or public market *Marketing, the act of sat ...

and non-market housing. Market housing refers to housing that is bought and sold on the

open market The term open market is used generally to refer to an economic situation close to free trade. In a more specific, technical sense, the term refers to interbank trade in securities. In economic theory Economists judge the "openness" of markets a ...

, with prices and rent determined by supply and demand. Market housing is owned by private individuals or corporations and consists of apartments, condominiums, private housing, etc. Non-market housing refers to housing that is provided and managed by the government or non-profit organizations. The goal of non-market housing is to provide affordable housing for individuals or families considered low-income. Non-market housing is subsidized, meaning that rent is lower than the market rate, and tenants may be eligible for rent assistance programs. Non-market housing consists of

public In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociology, sociological concept of the ''Öf ...

social Social organisms, including human(s), live collectively in interacting populations. This interaction is considered social whether they are aware of it or not, and whether the exchange is voluntary or not. Etymology The word "social" derives fro ...

, and

cooperative A cooperative (also known as co-operative, coöperative, co-op, or coop) is "an autonomy, autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned a ...

housing among others.

Macroeconomy and housing price

Housing prices are affected by the

macroeconomy Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output (econ ...

. Research conducted in 2018 indicates that a 1% increase in the

Consumer Price Index A consumer price index (CPI) is a statistical estimate of the level of prices of goods and services bought for consumption purposes by households. It is calculated as the weighted average price of a market basket of Goods, consumer goods and ...

leads to a $3,559,715 increase in housing prices. As a result this raises the property price per square foot by $119.3387.

Money Supply In macroeconomics, money supply (or money stock) refers to the total volume of money held by the public at a particular point in time. There are several ways to define "money", but standard measures usually include currency in circulation (i ...

(M2) has a positive relationship with housing prices. A study conducted in

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

reported that as M2 increased by one unit, housing prices rose by 0.0618. When there is a 1% increase in the best lending rate, housing prices drop 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. In the United States, when there is a 1% increase in the US

real interest rate The real interest rate is the rate of interest an investor, saver or lender receives (or expects to receive) after allowing for inflation. It can be described more formally by the Fisher equation, which states that the real interest rate is appro ...

, the property prices decrease from $9302.845 to $4957.274, and sellable 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.

Housing affordability index

Housing crisis

Health and housing

Housing is recognized as a

social determinant of health The social determinants of health (SDOH) are the economic and social conditions that influence individual and group differences in health status. They are the health promoting factors found in one's living and working conditions (such as the dist ...

. While high-quality housing environments positively contribute to an individual's health, poor housing or a complete lack thereof leads to negative health effects. Lack of housing or poor-quality housing can negatively affect an individual's physical and mental health. Housing attributes that negatively affect physical health include dampness,

mold A mold () or mould () is one of the structures that certain fungus, fungi can form. The dust-like, colored appearance of molds is due to the formation of Spore#Fungi, spores containing Secondary metabolite#Fungal secondary metabolites, fungal ...

, inadequate heating, and overcrowding. Mental health is also affected by inadequate heating, overcrowding, dampness, and mold, in addition to a lack of personal space. Another factor that negatively impacts mental health is housing instability. Negative health effects that impact children include potential exposure to

asthma Asthma is a common long-term inflammatory disease of the airways of the lungs. It is characterized by variable and recurring symptoms, reversible airflow obstruction, and easily triggered bronchospasms. Symptoms include episodes of wh ...

triggers or

lead Lead () is a chemical element; it has Chemical symbol, symbol Pb (from Latin ) and atomic number 82. It is a Heavy metal (elements), heavy metal that is density, denser than most common materials. Lead is Mohs scale, soft and Ductility, malleabl ...

, and injuries caused by structural deficiencies (e.g. lack of window guards or radiator covers). Family members with poor health reduce debt to avoid risks. Data from the China House Finance Survey used a partial least squares structural equation model for results that indicated family member's poor health and individuals with uninsured endowment insurance have an adverse impact on housing debt and family assets..Chen, S. et al Health, Insurance, and Social Capital’s Impact on Housing Debt and Assets Using a Partial Least Squares Structural Equation Modeling Technique. Buildings 2024, 14, 3540. https://doi.org/10.3390/buildings14113540

By region

Housing in Azerbaijan Housing in Azerbaijan is characterized by high rates of private housing ownership. Construction in housing industry started to improve in the late 1990s, as the result of the Presidential decree (1997), which eliminated the state monopoly of the co ...

Housing in Barbuda On the island of Barbuda, which is part of the nation of Antigua and Barbuda, the housing industry is a major economic sector. The majority of households, or 68.38% of all households, are owner-occupied homes. Housing statistics Barbuda has a t ...

Housing in China In recent years, housing development has ballooned in the People's Republic of China as its economy has developed. Since 1978, the government has promoted the commercialization of housing in urban areas. Property development has become big busine ...

Housing in Hong Kong Housing in Hong Kong varies by location and income. More than 7 million people live on about 1,108 km2 (427 mi2) of land in the region, making it one of the List of countries and dependencies by population density, densest places ...

* Housing in Egypt *

Housing in Ethiopia Housing in Ethiopia has been improving over past decades. About 70% of housing units are requiring total replacement whereas 30% are in fair condition. 20–27% are in adequate sanitation and 19.4% in rural areas at national level. However, there ...

Housing in Europe Housing in Europe includes modern and traditional styles. Data from 2015 In 2015, more than 4 out of every 10 persons (42.0%) in the European Union, EU-28 lived in flats, close to one quarter (24.1%) in semi-detached houses and one third (33.3% ...

Housing in India Housing in India varies from palaces of erstwhile maharajas, to modern apartment buildings in big cities, to tiny huts in far-flung villages. The Human Rights Measurement Initiative finds that India is doing 60.9% of what should be possible at ...

Housing in Israel Housing in Israel refers to the history of housing in Israel. History After the establishment of the State of Israel, hundreds of thousands of Jews from all over the world began immigrating to the new state. Many were housed in temporary camps kno ...

Housing in Japan Housing in Japan includes modern and traditional styles. Two patterns of residences are predominant in contemporary Japan: the single-family detached house and the multiple-unit building, either owned by an individual or corporation and rente ...

Housing in New Zealand Housing in New Zealand was traditionally based on the quarter acre, quarter-acre block, Single-family detached home, detached Suburbanization, suburban home, but many historical exceptions and alternative modern trends exist. New Zealand has la ...

* Housing in Pakistan *

Housing in Portugal Housing in Portugal is generally similar to housing in the rest of Europe. However, some specificities exist. Portugal has the highest rate of rural population in Western Europe, which means that roughly a third of the Portuguese families live in ...

Housing in Senegal Senegal’s high population growth and migration from the rural areas to Dakar has resulted in the mushrooming of squatter settlements on Dakar’s periphery.Housing in South Korea Housing in South Korea includes detached houses, apartment (unit of apartment, row houses, and private houses), studio apartments, and dormitories in non-residential buildings such as shopping malls and factories. While the occupancy rate of apar ...

Housing in the United Kingdom Housing in the United Kingdom represents the largest non-financial asset class in the UK; its overall net value passed the £8 trillion mark in 2023. This reflects a marginal decrease of 0.3% from the previous year, yet it remains £1.585 trill ...

Housing in Scotland Housing in Scotland includes all forms of built habitation in what is now Scotland, from the earliest period of human occupation to the present day. The oldest house in Scotland dates from the Mesolithic era. In the Neolithic era settled far ...

Housing in the United States Housing in the United States comes in a variety of forms and Housing tenure, tenures. The rate of homeownership in the United States, as measured by the fraction of units that are owner-occupied, was 64% . Housing in the United States is heavily ...

References

External links

* * * {{Authority control