Finance Accessibility and Affordability to Low-Income Earners’ Housing Ownership in Bauchi Local Government, Nigeria
Housing accessibility and affordability is not simply a matter of housing costs and income levels, but it is about people’s ability to obtain housing and to stay in it, however this has prove to be impracticable to the low income earners especially primary school teachers who can neither access nor afford housing finance. Hence, this study examines the level of accessibility and affordability of housing finance to low income earners in Bauchi Local Government, Nigeria. A sample of 500 Primary school teachers of Bauchi Local Government Education Authority, from a population of 5,474 teachers was drawn on the basis of simple random sampling. Methodology of study involved the use of self-administered structured questionnaires to collect information from respondents. Descriptive analyses were used for the data analysis through SPSS version 23. Results of findings showed that challenges in accessing housing finance has been a critical problem to the respondents in the study area and it also shows that availability of collateral for bank security is a crucial factor that prevents the respondents from affording housing finance loan. It was recommended that the finance institutions should make the housing finance loan accessible and affordable to the low income earners to meet their dream to sustainable housing ownership amongst primary school teachers in Bauchi, Nigeria.
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