The International Housing Association (IHA) is focusing on manners possible home owners throughout the world can get housing finance to attain homeownership, IHA leaders declared during the institution’s interim meeting Aug. 27-30 in Taipei, Taiwan.
“Across the world, rates of homeownership vary greatly, and one of the biggest challenges for people in achieving homeownership is access to housing finance,” stated Kristin Brookfield, IHA seat and chief executive order for business policy at HIA Australia. “Members of IHA are sharing ways their respective countries handle housing finance to help increase the number of residents who can purchase their own home.”
Members of IHA have developed a report detailing how home fund is managed in their respective nations as a means to showcase the similarities, differences as well as the barriers which the home business and house buyers face around the world. The report provides insights that could help other nations in assessing the ways housing fund is supplied their citizens.
The report contains answers from IHA members in the following nations: Australia, Brazil, Canada, Japan, Malaysia, Nicaragua, Norway, South Africa, Sudan, Taiwan and United States. Top housing fund problems covered in the report include: mortgage accessibility and timeframes, funding institutions and places, first-time buyer support, outright homeownership, shared equity applications and additional funding.
“We will unveil the full report on Jan. 21, 2020, during the National Association of Home Builders (NAHB) International Builders’ Show in Las Vegas as a way to shine the light on this important issue that affects individuals on a global level,” stated Brookfield. “We encourage other international housing agencies to look to IHA as a resource for addressing issues impacting their housing industry.”
In addition to this problem of housing finance discussed in the interim assembly, home affordability was a key subject members discussed since this has been affect individuals all around the world.
“IHA members face many shared challenges on how to address housing affordability, including the increased costs of housing production, decreased public funds for housing and increased supply shortage, to name a few,” stated Brookfield. “We need to be able to build sufficient housing that both meets the aspirations of our citizens and is compatible with their income.”
The group discussed many different possible options, and will continue the dialog of finding methods to address housing affordability.
NAHB functions as the Secretariat of IHA. For more info see www.internationalhousingassociation.org.