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Owner-occupancy
Owner-occupancy or home-ownership is a form of housing tenure in which a person, called the owner-occupier, owner-occupant, or home owner, owns the home in which they live. The home can be a house, such as a single-family detached home, single-family house, an apartment, condominium, or a housing cooperative. In addition to providing housing, owner-occupancy also functions as a real estate investing, real estate investment. Acquisition Some homes are constructed by the owners with the intent to occupy. Many are inheritance, inherited. A large number are purchased as new homes from a real estate development, real estate developer or as an existing home from a previous landlord or owner-occupier. A house is usually the most expensive single purchase an individual or family makes and often costs several times the annual household income. Given the high cost, most individuals do not have enough saving, savings on hand to pay the entire amount outright. In developed countries, mortg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Home
A home, or domicile, is a space used as a permanent or semi-permanent residence for one or more human occupants, and sometimes various companion animals. Homes provide sheltered spaces, for instance rooms, where domestic activity can be performed such as sleeping, preparing food, eating and hygiene as well as providing spaces for work and leisure such as remote working, studying and playing. Physical forms of homes can be static such as a house or an apartment, mobile such as a houseboat, trailer or yurt or digital such as virtual space. The aspect of 'home' can be considered across scales; from the micro scale showcasing the most intimate spaces of the individual dwelling and direct surrounding area to the macro scale of the geographic area such as town, village, city, country or planet. The concept of 'home' has been researched and theorized across disciplines – topics ranging from the idea of home, the interior, the psyche, liminal space, contested space to gende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing Tenure
Housing tenure is a financial arrangement and ownership structure under which someone has the right to live in a house or apartment. The most frequent forms are tenancy, in which rent is paid by the occupant to a landlord, and owner-occupancy, where the occupant owns their own home. Mixed forms of tenure are also possible. The basic forms of tenure can be subdivided, for example an owner-occupier may own a house outright, or it may be mortgaged. In the case of tenancy, the landlord may be a private individual, a non-profit organization such as a housing association, or a government body, as in public housing. Surveys used in social science research frequently include questions about housing tenure, because it is a useful proxy for income or wealth, and people are less reluctant to give information about it. Types * Owner occupancy – The person or group that occupies a house owns the building (and usually the land on which it sits). * Tenancy – A landlord who owns ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodification Of Housing
Commodification of housing refers to the transformation of basic shelter, rental housing, and Owner-occupancy, homeownership into an investment vehicle or Speculation, speculative asset as opposed to a public good, human need, or the right to housing. Financialization of housing Instead of outright purchasing in cash, homes and housing units are often purchased with 15 or 30-year mortgage loanss. These can be Securitization, securitized and sold on a secondary mortgage market as packages of individual mortgages. The secondary mortgage market is considered to be the primary cause of the 2008 financial crisis as lenders made risky loans to Subprime lending, subprime borrowers who defaulted on their mortgage payments. Globalization has led to foreign nationals buying land and housing in many countries, including non-European Union, European-Union nationals buying 27,000 properties in Spain in 2023 and Chinese companies (both Mergers and acquisitions, acquisitions and companies orig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Homeowner Association
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, Incorporation (business), legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents. HOAs are found principally in the United States, Canada, the Philippines, as well as some other countries. They are formed either ''ipso jure'' (such as in a building with multiple Owner-occupancy, owner-occupancies), or by a real estate developer for the purpose of marketing, Management, managing, and selling homes and lots in a residential subdivision. The developer may transfer control of an HOA after selling a predetermined number of lots. These legal structures, while most common in residential developments, can also be found in commercial, industrial and mixed-use developments, in which context they are referred to as POAs or CIDs instead of HO ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Civic Engagement
Civic engagement or civic participation is any individual or group activity addressing issues of public concern. Civic engagement includes communities working together or individuals working alone in both political and non-political actions to protect public values or make a change in a community. The goal of civic engagement is to address public concerns and promote the quality of the community. Civic engagement is "a process in which people take collective action to address issues of public concern" and is "instrumental to democracy". Underrepresentation of groups in the government causes issues faced by groups such as minority, low-income, and younger groups to be overlooked or ignored. In turn, issues for higher voting groups are addressed more frequently, causing more bills to be passed to fix these problems. Forms Civic engagement can take many forms—from individual volunteerism, community engagement efforts, organizational involvement, and electoral participation. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generational Wealth
Old money is a social class of the rich who have been able to maintain their wealth over multiple generations, in contrast with new money whose wealth has been acquired within its own generation. The term often refers to perceived members of the '' de facto'' aristocracy in societies that historically lack an officially established aristocratic class (such as the United States). Wealth and class ''Wealth''—assets held by an individual or by a household—provides an important dimension of social stratification because it can pass from generation to generation, ensuring that a family's offspring will remain financially stable. Families with "old money" use accumulated assets or savings to bridge interruptions in income, thus guarding against downward social mobility. United States According to anthropologist W. Lloyd Warner, the upper class in the United States during the 1930s was divided into the upper-upper and the lower-upper classes. The lower-upper were those who did n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English-speaking Countries
The English-speaking world comprises the 88 countries and territories in which English is an official, administrative, or cultural language. In the early 2000s, between one and two billion people spoke English, making it the largest language by number of speakers, the third largest language by number of native speakers and the most widespread language geographically. The countries in which English is the native language of most people are sometimes termed the Anglosphere. Speakers of English are called Anglophones. Early Medieval England was the birthplace of the English language; the modern form of the language has been spread around the world since the 17th century, first by the worldwide influence of England and later the United Kingdom, and then by that of the United States. Through all types of printed and electronic media of these countries, English has become the leading language of international discourse and the lingua franca in many regions and professional fie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flipping
In finance, flipping is purchasing an asset to quickly resell (or "flip") it for profit. Within the real estate industry, the term is used by investors to describe the process of buying, rehabbing, and selling properties for profit. In 2017, 207,088 houses or condos were flipped in the US, an 11-year high. That number represents 5.9 percent of all single-family properties sold during that year Effects Bubbles A spate of flipping often creates an economic bubble which then bursts, such as during the Florida land boom of the 1920s. In the 2000s, relaxed federal borrowing standards (including subprime lending) allowed a borrower to purchase a home with little or no money down, which may have led directly to a boom in demand for houses. Because it was easy to borrow, many investors bought homes as property speculation with no intent to live in them. Since the demand outstripped the supply, prices rose, giving a short-term profit. This resulted in an inflationary spiral until th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Relocation (personal)
Relocation, also known as moving, or moving house, is the process of leaving one's dwelling and settling in another. The new location can be in the same neighborhood or a much further place in a different city or different country (immigration). It usually includes packing all belongings, transferring to the new home, unpacking, and administrative or bureaucratic tasks, such as changing registration data. An expatriate is an individual temporarily or permanently relocating to a country other than their native country. The individual relocating would be considered an immigrant in their new country. Psychological effects On the Holmes and Rahe stress scale for adults, "change of residence" is considered a stressful activity, assigned 20 points (with the death of a spouse being ranked the highest at 100), although other changes on the scale (e.g., "change in living conditions", "change in social activities") often occur as a result of relocating, making the overall stress level po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law (legal system), civil law jurisdictions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is "collateral (finance), secured" on the borrower's property through a process known as mortgage origination. This means that a Mortgage law, legal mechanism is put into place which allows the lender to take possession and sell the secured property ("foreclosure" or "repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Legal professions in England and Wales, Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken throu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
