Real Estate Markets and Finance Essay Example | Topics and Well Written Essays - 2000 words

original Estate Markets and Finance - Essay ExampleAs outlined in the DCLG report, the role of the organizations involved in the delivery of low-priced lodging, decisions about the amount and types of affordable housing to be provided in individual proposals should bound local housing need and individual site suitability, and be a matter for agreement amid the parties. Local planning authorities and developers should be reasonably flexible in deciding the types of affordable housing most appropriate to a particular site. The objective should be to ensure that the affordable housing secured allow for contribute to satisfying local housing needs as demonstrated by a soaked assessment.The insurance policy on planning and affordable housing is set out in more tip in DETR Circular 6/98 Planning and Affordable Housing. Where a local planning pledge has decided that an element of affordable housing should be provided in development of a site, there is a presumption that such housi ng should be provided as part of the proposed development of the site. Failure to apply this policy could justify the refusal of planning permission.A recent report commissioned by the Department for Communities and Local establishment stated that It is not hard to make a strong argument for social housing at sub-market rents (LSE report, Ends and Means, 2007).Affordable Housing means housing that has a sales price or rental amount that is at heart the means of a household that may eat, middle-, moderate-, or low income housing. In simple words it is neat quality housing that low-income households (those whose income is below the poverty level or below 50 percent of the average income for their area) can afford to occupy without spending more than 30 percent of their income or those households with slightly high incomes (50 to 80 percent of the median income) can similarly afford (Jeffrey & William, 2005).In the case for dwelling units for sale, housing that is affordable mean s housing in which mortgage, amortization, taxes, insurance and condominium or association fees, if any, constitute no more than 28 percent of such gross annual household income for a household of the size which may occupy the unit in question