Maxwell Drever Speaks About Some Great Ways to Ensure Technology Tackles the Current Housing Crisis
From bio-manufactured materials and 3D printing, budding building technologies are capturing attention quickly. They are one of the most affordable ways to address the international housing deficit, which will affect millions of people in the United States by 2025.
These modern technologies can also present outsized environmental advantages by cutting the waste of construction, while also proving to be even negative. Even though this enthusiasm is much welcomed, are they capable of living up to the hype?
While modern housing technologies can reduce GHG emissions and cut waste, they are undoubtedly creating a dent in the US housing crisis, unless supported by other changes. The prefab housing technologies are still considered as a great innovation that can solve the affordable housing crisis. Here are some effective elements to remember as we adopt new technologies to tackle the affordable housing crisis in the United States.
Focus on the Customer by Expanding Options Available to the Families
By implementing new homeownership and modern construction, the United States housing market has developed to be too standardized. Standardization is frequently considered as promoting production efficiency while also reducing costs.
However, even though there are many affordable homes, most of them are vacant and need repair. The housing market is still empty today. The coronavirus pandemic has showcased the importance of housing adaptability. Apart from the new housing construction, many low and middle-class families need simple repairs to their existing units.
Fortunately, technology is available to address this situation. The 3D scans are mapping the informal settlements. Newer technologies such as low-cost structural retrofit and reflecting paint techniques can make your home greener and safer.
Maxwell Drever Recommends Designing Effective Financial Schemes
Nowadays, many people in the United States cannot get access the formal mortgage as they either don’t have official titles for the land or work in the informal economy. The down payment requirement and proof of income will also block access to sufficient mortgages.
Various innovations will help you underwrite different types of informal occasions while also helping the households to improve the efficiency of the housing loan. On the other hand, exploring various technological advancement options blockchain technologies that will ensure clear titles of the land is another great way to tackle the affordable housing crisis.
The funds from the Government can also provide families with irregular and informal incomes to get access to get proper credit. This way the financial institutions will be able to enhance security.
Develop Great Housing Solutions for the People Who Aren’t Capable of Purchasing a House
As many people in the United States assume that homeownership is a big mistake, Maxwell Drever said this ultimately created more inaccessibility and inequality in the affordable housing market.
Just like Airbnb has disrupted the vacation rental market, the rental platforms can play a significant role in supporting the low and middle-income refugees, households, and other types of undeserved population segments who will struggle to choose relevant rental housing.
Technology is undoubtedly one of the most crucial aspects of solving any problem, including the affordable housing crisis. This is why the Government of the United States should use different types of technologies to solve the affordable housing crisis problem.