TO address the issue of housing affordability and ownership among young adults in the low income group (B40), one way to go about it is by implementing a rent-to-own (RTO) scheme for affordable housing units.
Some might ask why is this needed? They should be able to afford houses that are “affordable”, some say.
But the terms “affordability” and “affordable housing” should be adequately defined so as not to confuse people as affordability varies from state to state and not everyone will be able to afford the affordable houses.
Anecdotal evidence has shown that it is harder for young adults to purchase a house during challenging times when employability is uncertain for them as new entrants to the labour market.
Media Title: The Sun
Date: 01 Oct 2020