Model of increasing the economic affordability of housing when creating housing cooperative

Abstract

The housing problem remains one of the most acute and socially significant, since the possibility of acquiring and improving housing conditions for citizens becomes difficult and impossible to achieve without state support. In particular, a decrease in housing affordability is associated with the quality and growth in the cost per square meter of housing, the tax burden and t he annual increase in housing maintenance costs. Nevertheless, the main criterion characterizing the growth of reproduction and ensuring the comfort of living is the income level of the population. Housing is a social criterion and an indicator of the life quality of the population, affecting labor productivity, growth in gross domestic product, dynamics of demographic processes, and economic activity of the population. Undoubtedly, the availability of housing is the main indicator of the economic and social development of the state. Unfortunately, despite the positive dynamics of the housing affordability indicator, there are a number of problems that need to be addressed within the framework of the formation of comfortable housing. And also, it is necessary to introduce the affordability barriers to understand the complexity of creating an affordable housing market. In this article, the authors present a model for increasing housing affordability, taking into account an accurate assessment of the possibility of its acquisition. In addition, we offer a solution to this socio-economic problem by supporting the development of housing cooperation, which shall be expressed in the formation of new legal institutions and instruments that contribute to the guaranteed accumulation of funds by citizens for the acquisition of real estate.