Cover Letter
The purpose of carrying out this research was to determine the gap between house ownership among the rich and the poor. Factors that could have led to the identified gap were to be established and measures against these negative factors put in place. This was to ensure that all individuals in the various states especially in the urban centers have access to homes. This was also aimed at boosting trading activities in market centers as new consumers are made available to new suppliers thus intensifying the suppliers’ activities.
The information that will be received from you will be handled in secrecy. Unconcerned individuals will not be allowed to access the information that you will have submitted.
The questions that you will deem sensitive may be left out. The information will be analyzed within the shortest period possible and results given.
By submitting the questionnaire, you will have confirmed consent to your information.
Lastly, I would like to pass my sincere gratitude to all of you that have participated, since without you, the project could not have been successful.
Current Issues in Finance
Throughout these modern periods, there has been a propensity of an augment in the efforts by various governments all over the world to provide opportunities for common individuals to own homes. Conversely, stiff competition has been noticed in the housing finance market with regard to innovative suppliers being heartened to venture into the market. The new suppliers were in quest for new purchasers for the purpose of extension of their various activities.
Consequently, the intensification of housing facilities is a profitable rejoinder to the market conditions. In the United States, the percentage number of individuals who own houses is approximated to be 63 percent. 52 percent being for the rich while 11 percent being for the poor. Generally, in developed countries the cost of a dwelling can often be 2.5 to 6 times the average annual salary.
Therefore this research paper seeks to explain the existence of a gap in terms of home ownership between the rich and the ordinary individuals (Balfour and Smith, 1996).
During the project, the identification of the ideal method of collecting data aims at achieving the most precise and accurate information regarding the gap that has subsisted between the common people and the rich. In this case, quantitative methods of data collection were employed. To begin with, interviewing was used.
This method of data collection gives the participants the opportunity to offer affluent and appropriate descriptions. In addition to that, the method is quick and also depends at large on the skill of the interviewer. The interviewers were not only approached individually but also in groups. Resident persons at market places were approached.
Questionnaires were also employed in collection of the data. The use of questionnaires availed the opportunity to obtain the feedback from a vast number of individuals within the very shortest time. Structured questionnaires developed offered a measure of respondents’ judgments, outlooks, sentiments, and discernments about the subsisting gap between the poor people and the rich persons.
Target Audience
The research targeted the individuals of the high class standard of living as well as individuals of the lower class standard of living. However, individuals from the middle class families were not largely interviewed. The study of individuals from the middle class was avoided for the purpose of attaining accuracy. However, if information from the middle class individuals could have been collected, then bias could have been realized. In analyzing the data, the survey also entailed the study from four countries.
This included the United States of America, Zambia, Singapore and Ghana. The study also included interviewing individuals from the housing finance market. These persons provided information on the rates of competition for housing facilities among the rich. Thus houses are only affordable by the rich. There was need for researching the number of individuals who owned houses in the past and then the number compared to individuals in the present.
Requested Information
The intention for carrying out the study was to establish whether the gap of owning houses between the rich and poor has declined or augmented. If the housing facilities gap could have augmented, then the factors behind this conclusion were to be established. Basing on the governments efforts to alleviate homelessness in the various countries, there was need for the identification of any contributions made by the states towards this task. If the contribution was none, then the government was to double its efforts in alleviating homelessness.
Questionnaire Used
- Do you own a home?
- If no, have you made some efforts to have one?
- How do you compare the ownership of mortgages in the past and the modern times?
- What were some factors that pulled you back in your efforts to own a home?
- How has owning a home affected or boosted your business activities?
- How did you go about getting rid of the factors that hindered you from owning a home?
- Has the government made any moves to help you in solving part of the challenges that hindered your efforts of owning a home?
- How has lack of a home affected your business activities on the market?
- If all challenges are met, can you be really sure of owning a home at a favorable and comfortable place?
- What is the price of a house you can afford if houses are availed to you?
- What is your expectation of the cost of mortgages?
Works Cited
Balfour, D. & Janet S. “Transforming Lease-purchase Housing Programs for Low-income Families: Towards Empowerment and Engagement.” Journal of Urban Affairs, 18(1996): 173-189. Print.