Amount of money

The Amount of Money

In this entry I wish to talk about the amount of money needed to acquire a home. Also how this amount can cause people to go homeless. As well as how homeless people become simply the collateral effect of a possible defect in the society in three points.

Low Housing Production

This is not a problem of the state of Oregon alone, it’s a national problem. With that in mind the idea is simply, homelessness in general across the country can simply be caused by one major factor, lower housing production. In an analysis (Fleming) published online, one good reason why the production of houses is going down is that home builders are succumbing to constraints which then results to underbuilding. Underbuilding meant not meeting the amount of the expected demand. The reason behind can be severely complex but at hindsight it can be concluded that though it may not be intentional, the home builders can earn more by controlling the amount of houses built than easily building more and more houses to meet the exact demand. This does not only hurt the Americans that can afford to buy houses, this ultimately affects the ones who can barely afford them. Why? Simply put, if the ones who can afford them are having trouble keeping up, how much more those who can barely afford them? They won’t keep up, they will simply give up and hence end up being homeless, bankrupt and maybe, devastated.

Higher Rental Rates

(Hammill), the article talks about the vacancy of houses in the state of Oregen due to the economic bubble. But one factor why the rental rates are getting higher is simply, the supply of houses available to the people of the city. As you can see the two points are severly interrelated, hence it should be safe to say that the rates are not high for no reason, something caused it and the something is one, the production is not meeting the demand, another is that the supply of housing is also not meeting the demand of the city (Lehner). This higher rental rates easily causes people who can no longer afford to keep a home to lose theirs and be homeless. One serious factor caused by the other and another.

Low Median Incomes

As crazy as it may sound, the 2^nd fastest moving economy in the country apparently has lower median incomes compared to the rest of the country. While it is true that the economic movement of the state is good and all comparing it to its historical data ("Oregon State Household Income | Department Of Numbers"), it should be easy to assume that due to the bubble of people moving in to the state for work opportunities and business people for chances of putting up something that may be worthwhile has caused the income go down. This is true due to the fact that since there will be enough workforce members to be hired, the income can be the last thing to talk about as far as the average worker is concerned, the priority is simply to have something go on by. This mindset can easily cause people to be homeless. While there will be people who have below margin income who may be able to afford a decent shared apartment, those lower than that margin will go homeless and the amount of money is unreachable to avoid becoming a member of those who dwell on the streets.

Online sources

Fleming, Mark. "There Are 2 Reasons Why The Supply Of Homes In The US Is Running Dangerously Low." Business Insider. N.p., 2018. Web. 17 Aug. 2018.

Hammill, Luke. "Can't Find An Apartment? Oregon's Vacancy Rate Was Nation's Lowest, Data Show." OregonLive.com. N.p., 2015. Web. 17 Aug. 2018.

Lehner, Josh. "Why Housing Supply Matters." Oregon Office of Economic Analysis. N.p., 2017. Web. 17 Aug. 2018.

"Oregon State Household Income | Department Of Numbers." Deptofnumbers.com. Web. 17 Aug. 2018.