Empirical evaluation of Gen Y housing affordability

Abstract

Gen Y is dealing with housing issues that often associated with housing affordability. Most of the previous studies focus on housing affordability among different groups of income, housing and affordable housing markets, but less emphasis on the ability of housing for different generations. Concerns are often raised whether Gen Y can afford to buy a house? Therefore, the intent of the study is to evaluate the Gen Y housing affordability and to identify factors influencing the housing affordability problems faced by this age group. A questionnaire survey was conducted to collect the required data directly from Gen Y in Kuala Lumpur with a sample size at a confidence level of 90% and data obtained was analysed by descriptive and inference statistics. The study reveals that household expenditures, housing prices, and income are significant in influencing Gen Y’s housing affordability.