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Old 11-20-2008, 06:22 AM
LillyRoby LillyRoby is offline
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Exclamation The factors of ‘need’ and ‘demand’

Need measures the extent to which existing accommodation falls short of that required to provide each household with accommodation of a minimum specified standard irrespective of their ability to pay for it. Making such an estimate, however, is not so easy as might appear at first sight. For one thing, projections of households are based on variables such as marriage rates and the size of family, which are dependent upon changes in income and social attitudes. For another, ‘need’ is more than the difference between aggregate households and aggregate dwellings since both have to be subdivided and related according to size and location.

To analyze this information with regard to the census returns and statistics from the Registrar-General will provide the basic data. Above all, the ‘minimum specified standard’ presents practical and conceptual difficulties. How do we measure accommodation standards, by the family unit or by area per person? Really we should concentrate on the needs of the different types of family. For instance a family of six requires less space than three households of two, while two adults and two children differ in their needs from one adult and three grown children.

However, since such refined information is not available (especially for the future), because standards are usually calculated on the basis of so many square feet or rooms per annum. Similarly, what standard should be specified? Although this is basically a subjective decision, it cannot be divorced from the over-all level of income. Moreover, in formulating building plans a decision has to be made on whether to aim at a standard to overcome current overcrowding or a future standard, which allows for income growth. When there is a deficiency of housing, the former tends to be paramount. In the long term, however, when only replacement of dwellings is called for, it is important to anticipate future standards, since dwellings have a long life.

Last edited by flippinout; 11-23-2009 at 06:07 PM.
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Old 11-23-2009, 11:16 AM
Andyfrain Andyfrain is offline
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Default Re: The factors of ‘need’ and ‘demand’

Real estate is an expensive purchase. Real estate is usually the most costly acquisition in the average person’s budget. The normal assumption is that real estate investing requires either deep pockets, an excellent credit rating or both. The unbelievable shocker is that real estate investing can be accomplished without either cash or credit.

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