The group also called for the establishment of Housing Affordability Index. The index measures, whether or not, an average family earns enough income to qualify for a 30-year fixed mortgage loan on a typical single-family home without spending more than 25 per cent of the income on payment for principal and interest.
He said: “Assuming low-income earners in Nigeria are those workers earning less than N100, 000 per month , the only way to give these people affordable housing in Nigeria is social housing. Citing Austria, HDAN stated, “The Austrian government saw housing as a common need of all citizens apart from food and clothing. As a form of bridging the gap between the rich and the poor, Austrian government is providing all residents with social housing. It has achieved 60 per cent of its target now and promised to provide government accommodation for all in the year 2030.”
The network urged government’s intervention in high cost of construction materials through supporting use clay bricks and bamboos.
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