Housing Affordability Among Generation Y

  • Authors

    • Faraziera Mohd. Raslim
    • Chong Lu Ping
    • Mastura Jaafar
    • Nurul Sakina Mokhtar Azizi
    https://doi.org/10.14419/ijet.v7i3.7.18873
  • Housing, Affordability, Generation Y, Malaysia, Housing Scheme, Homeownership
  • Abstract

    The Affordable housing is a prerequisite element to showcase a country is well-developed in terms of social economy growth and social welfare. While in the view of affordability, it is not a characteristic of housing – it is a relationship between and people. In fact, housing affordability issues happened in every world cities of the planet but no one envisages it properly especially when this issues fall upon on young generation, so-called Generation Y. Generally, this generation is the descendant of Baby Boomers/ Generation X, who born between the years 1979 and 1994. Gen Y is a cohort made up of about 60 million individuals and now make 44% of the population in Malaysia. The Malaysia government has introduced several housing schemes especially for those new workforces in nationwide to ensure every of them are able to afford a home. Those housing schemes are included Housing Loan Scheme, My First Home Scheme, Perumahan Rakyat 1 Malaysia (PRIMA), Rumah Idaman Rakyat, My Home Scheme and Youth Housing Scheme (YHS) which are beneficial to the first-homebuyers. Despite the efforts by Malaysian government, housing affordability still remains an issue among Malaysian Generation Y. Thus, this questionnaire survey have been distributed to Generation Y in order to investigate the effectiveness of the government initiatives to assist Gen Y in homeownership. It is hoped that this study will contribute to the knowledge and understanding on housing affordability level for the young generation to further improve Malaysia housing scheme and boost up the housing market.

     

     

  • References

    1. [1] M. Zairul, “Housing dilemma among young starters in Malaysia,†Elixir Sustain. Arc. 58, pp.14923-14926, 2013.

      [2] S. Baqutaya, A.S. Ariffin,. and F. Raji, “ Affordable Housing Policy: Issues and Challenges among Middle-Income Groups,†International Journal of Social Science and Humanity, 6(6), pp. 433-441, 2016

      [3] B. Bakhtyar, A. Zaharim, K. Sopian, O. Saadatian, and S. Moghimi, “Quality housing in affordable price for Malaysian low income,†WSEAS Transactions on Environment and Development, 9(2), pp.78-91, 2013

      [4] W. Cai, and X. Lu, “Housing affordability: Beyond the income and price terms, using China as a case study,†Habitat International, 47, pp.169-175, 2015.

      [5] J.V. Li, “ Recent trends on housing affordability research: where are we up to?,†Available at SSRN 2555439, 2015

      [6] W. O’Dell, M.T. Smith, and D. White, “Weaknesses in current measures of housing needs,†Housing and Society, 31(1), pp.29-40, 2004.

      [7] A. Skaburskis, “Decomposing Canada's growing housing affordability problem: do city differences matter?,†Urban Studies, 41(1), pp.117-149, 2004.

      [8] L.P. Morton, “Targeting generation Y,†Public Relations Quarterly,47(2), pp.46-54, 2002.

      [9] E. Neuborne, and K. Kerwin, “Generation Y,†Business Week, pp.46-50, 1999.

      [10] A.A. Bujang, W.A. Jiram, H.A. Zarin, and F.M. Anuar, F.M., “Measuring the Gen Y Housing Affordability Problem. International Journal of Trade, Economics and Finance,†6(1), pp.22-pp.28, 2015

      [11] M. Bruce, and S. Kelly, “Expectations, Identity and Affordability: The Housing Dreams of Australia’s Generation Y,†Housing, Theory and Society, 30(4), pp.416-432, 2013.

      [12] J.M. Twenge, S.M. Campbell, B.J. Hoffman, C.E. Lance, “Generational differences in work values: Leisure and extrinsic values increasing, social and intrinsic values decreasing,†Journal of management, 36(5), pp . 1117-1142, 2010.

      [13] R. Suleman, B. Nelson, “Motivating the millennials: tapping into the potential of the youngest generation,†Leader to Leader; San Francisco 62 (Fall 2011), pp.39 - 44, 2011.

      [14] Z. Yang, J. Chen, “Housing Affordability and Housing Policy in Urban China,†2014, Springer.

      [15] J. Bredenoord, P. Smets, and P. Van Lindert, “Affordable housing in the urban global south: Seeking sustainable solutions,†2014, New York: Routledge.

      [16] Ramli, F., Zainal, R. and Ali, “Equilibrium Price Modelling of an Affordable Housing in Malaysia. International Journal of Supply Chain Management,†5(3), pp.126-132, 2016

      [17] N.A. Wahab, H. Hamzah, and R.M. Yusof, “Promoting housing affordability in malaysia: Can islamic finance play a role?†International Review of Management and Marketing, 6(8), 2016. Retrieved from https://search.proquest.com/docview/1855293721?accountid=14645

      [18] P.H. Christensen, “Investigating Solutions To The Affordable Housing Supply Challenges In Sydney, Australia: Considering Alternative Housing Typologies,†In Pacific Rim Real Estate Society 22nd Annual Conference, 2016

      [19] Z.A.S. Zyed, W.N.A.W.A. Aziz, and N.R. Hanif, “Housing Affordability Problems among Young Households,â€. Journal of Surveying, Construction and Property, 7(7), pp 654 – 661, 2016.

      [20] D. Clapham, K. Buckley, P.Mackie, S. Orford, and I. Stafford, “Young people and housing in 2020: identifying key drivers for change,†201, York: Joseph Rowntree Foundation.

      [21] Y. Hirayama, “ The shifting housing opportunities of younger people in Japan’s home-owning society. Beyond home ownership. Housing, welfare and society,†2012, Routledge., London

      [22] R. Ronald, and M. Elsinga, “Beyond Home Ownership: housing, welfare and society,†2012, Routledge, London.

      [23] K. McKee, “Young people, homeownership and future welfare,†Housing Studies, 27(6), pp.853-862, 2012.

      [24] R. Forrest, and N.M. Yip, “Young people and housing: Transitions, trajectories and generational fractures,†2012, Routledge, London.

      [25] M.L. Lachman, and D,.L. Brett, 2011. Urban Land Institute. Generation Y: America’s New Housing Wave, 2011, Washington, DC, Urban Land Institute.

      [26] M.L. Lachman, and D,.L. Brett, “Urban Land Institute. Gen Y and Housing: What They Want And Where They Want It,†2015, Washington, DC : Urban Land Institute . Retrieved from http://uli.org/wp-content/uploads/ULI-Documents/ Gen-Y-and-Housing.pdf

      [27] Open Democracy, ‘Jam’ vs ‘Jilted’: interview with co-founder of the Intergenerational Foundation†2011, http://www.opendemocracy.net/ourkingdom/oliver-huitson/jam-vs-jilted-interview-with-co-founder-of-intergenerational-foundation

      [28] A.M.J.E Labin, A.I. Che-Ani, and S.N. Kamaruzzaman, “Affordable housing performance indicators for landed houses in the central region of malaysia,†Modern Applied Science, 8(6), Pp.70-78, 2014.

      [29] S. Shuid, “The housing provision system in Malaysia,†Habitat International, 54, pp.210-223, 2016.

      [30] R. Zainal, T.C. Teng, and S. Mohamed, “Construction Costs and Housing Prices: Impact of Goods and Services Tax,â€. International Journal of Economics and Financial Issues, 6(7S), pp. 124-135, 2016

  • Downloads

  • How to Cite

    Mohd. Raslim, F., Lu Ping, C., Jaafar, M., & Sakina Mokhtar Azizi, N. (2018). Housing Affordability Among Generation Y. International Journal of Engineering & Technology, 7(3.7), 336-339. https://doi.org/10.14419/ijet.v7i3.7.18873

    Received date: 2018-09-03

    Accepted date: 2018-09-03