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“Tenancy” in CABA: more than 50% of young adults cannot access their own home - Infobae
Source:
www.infobae.com
November 09, 2024
Rising land prices and the lack of mortgage credit – only reintroduced this year – have boosted renting in Buenos Aires. A private analysis also revealed that 37% of households in Buenos Aires are renters, with overcrowding levels double that of homeowners.
By Jose Luis Cieri
In Buenos Aires, in particular, the "tenancy" trend has increased in recent times (Illustrative Image Infobae)
The housing situation in the city of Buenos Aires reflects an increasingly complex panorama, marked by a lack of access to property and the growing number of people living in rented accommodation, which has worsened over the last 15 years.
According to data collected by the Asociación Civil por la Igualdad y la Justicia (ACIJ) through its VivienDATA tool, 37% of households in CABA are renters, which represents an increase compared to the 29% recorded in 2017. This trend is even more pronounced among people aged 30 to 45 (young adults), of whom 52% live in rented housing.
Fernando Bercovich , a sociologist with ACIJ's Right to the City program, explained to Infobae that this phenomenon has its roots in factors that date back to the late 1990s and early 2000s. “The rising cost of urban land and wage stagnation in relation to the cost per square meter made it difficult to access property. This, coupled with limited access to mortgage loans (which were reintroduced this year after more than 5 years ), prevented new generations from becoming homeowners,” he said.
As a result, people who achieve independence do so, for the most part, through renting, extending this stage even into advanced ages.
Nationwide, between the first quarter of 2017 and the same period in 2024, the percentage of households that own their homes fell from 67% to 62%.
According to Bercovich, this is explained by the constant rise in rents, which forces many families to spend a large part of their income on rent, leaving fewer resources to improve their housing conditions. “Overcrowding is a direct consequence of the fact that tenant households cannot allocate more than 30% or 40% of their income to rent without compromising their economic stability,” he said.
In terms of vulnerability, the data reflect that 29% of people who rent in CABA belong to the first income quintile, in contrast to 16.5% of owners. “This indicates that tenants are in a more precarious position, not only because of their income, but also because of the lack of stability that comes with depending on an increasingly volatile rental market,” Bercovich emphasized.
In this context, he argued that it is urgent for the State to intervene, either through tax incentives for the construction of affordable housing (although the current Government prioritizes other policies, the Procrear program is even at risk of disappearing ) or the creation of a public park of subsidized rentals, similar to those in other large cities in the world such as Berlin, for example.
VivienDATA is presented as a key tool to democratize access to data that is often dispersed or difficult to process.
“The idea is that media, academics and civil society organizations can use this data to promote informed public policies,” Bercovich said.
In recent years, with little access to mortgage credit, the youngest have not been able to access their own home. They were only reintroduced this year and although there are transactions for a large part of the population, due to average income, they find it difficult to be able to buy (Illustrative image Infobae)
In the short term, ACIJ plans to publish brief reports each time INDEC updates the Permanent Household Survey (EPH), while in the long term they seek to make year-on-year comparisons to offer a more in-depth analysis of the housing situation.
The tool allows for cross-referencing information on tenure, income level, age and quality of housing materials, among other variables.
"We want the dashboard to be a reference for those who design public policies, as it provides a comprehensive view of a problem that cannot be solved only from the real estate market," concluded Bercovich.
www.buysellba.com
Source:
“Inquilinización” en CABA: más del 50% de los adultos jóvenes no puede acceder a una vivienda propia
El encarecimiento del suelo y la falta de crédito hipotecario –reintroducidos recién este año– impulsaron el alquiler porteño. Un análisis privado reveló también que 37% de los hogares porteños son inquilinos, con niveles de hacinamiento que duplican a los de los propietarios
www.infobae.com
November 09, 2024
Rising land prices and the lack of mortgage credit – only reintroduced this year – have boosted renting in Buenos Aires. A private analysis also revealed that 37% of households in Buenos Aires are renters, with overcrowding levels double that of homeowners.
By Jose Luis Cieri
In Buenos Aires, in particular, the "tenancy" trend has increased in recent times (Illustrative Image Infobae)
The housing situation in the city of Buenos Aires reflects an increasingly complex panorama, marked by a lack of access to property and the growing number of people living in rented accommodation, which has worsened over the last 15 years.
According to data collected by the Asociación Civil por la Igualdad y la Justicia (ACIJ) through its VivienDATA tool, 37% of households in CABA are renters, which represents an increase compared to the 29% recorded in 2017. This trend is even more pronounced among people aged 30 to 45 (young adults), of whom 52% live in rented housing.
Fernando Bercovich , a sociologist with ACIJ's Right to the City program, explained to Infobae that this phenomenon has its roots in factors that date back to the late 1990s and early 2000s. “The rising cost of urban land and wage stagnation in relation to the cost per square meter made it difficult to access property. This, coupled with limited access to mortgage loans (which were reintroduced this year after more than 5 years ), prevented new generations from becoming homeowners,” he said.
As a result, people who achieve independence do so, for the most part, through renting, extending this stage even into advanced ages.
Nationwide, between the first quarter of 2017 and the same period in 2024, the percentage of households that own their homes fell from 67% to 62%.
Overcrowding
The VivienDATA report also revealed that, in CABA, 18% of tenant households live in overcrowded conditions, a rate that doubles that of homeowners (7.2%).According to Bercovich, this is explained by the constant rise in rents, which forces many families to spend a large part of their income on rent, leaving fewer resources to improve their housing conditions. “Overcrowding is a direct consequence of the fact that tenant households cannot allocate more than 30% or 40% of their income to rent without compromising their economic stability,” he said.
In terms of vulnerability, the data reflect that 29% of people who rent in CABA belong to the first income quintile, in contrast to 16.5% of owners. “This indicates that tenants are in a more precarious position, not only because of their income, but also because of the lack of stability that comes with depending on an increasingly volatile rental market,” Bercovich emphasized.
In this context, he argued that it is urgent for the State to intervene, either through tax incentives for the construction of affordable housing (although the current Government prioritizes other policies, the Procrear program is even at risk of disappearing ) or the creation of a public park of subsidized rentals, similar to those in other large cities in the world such as Berlin, for example.
Tool
On the other hand, the report found that the quality of housing materials improved between the first (Q1 2017) and the last data (Q1 2024) of the series, going from 74.5% to 77.2% of people living in homes with sufficient quality of materials.VivienDATA is presented as a key tool to democratize access to data that is often dispersed or difficult to process.
“The idea is that media, academics and civil society organizations can use this data to promote informed public policies,” Bercovich said.
In recent years, with little access to mortgage credit, the youngest have not been able to access their own home. They were only reintroduced this year and although there are transactions for a large part of the population, due to average income, they find it difficult to be able to buy (Illustrative image Infobae)
In the short term, ACIJ plans to publish brief reports each time INDEC updates the Permanent Household Survey (EPH), while in the long term they seek to make year-on-year comparisons to offer a more in-depth analysis of the housing situation.
The tool allows for cross-referencing information on tenure, income level, age and quality of housing materials, among other variables.
"We want the dashboard to be a reference for those who design public policies, as it provides a comprehensive view of a problem that cannot be solved only from the real estate market," concluded Bercovich.
www.buysellba.com
