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Incorporate the rules of social segregation in solutions for the inhibition of the housing bubble in Vietnam
Incorporate the rules of social segregation in solutions for the inhibition of the housing bubble in Vietnam
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Date
2018
Authors
Van Khai Tran
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Abstract
Unlike the crisis in the U.S. which mainly started from the secondary investors and financial system, a great part of Vietnam’s housing bubble was caused by the primary investors. When businesses in Vietnam made lower profits, this led to rush investments in the real estate market, even from those primary investors who are newly established, have a lack of professionalism in housing development and knowledge of urban economics. Many of their projects were not possible to implement, leaving the market frozen with huge numbers of empty plots, houses and apartments. The review of urban sociology theories combining with deep analysis of the situation of Vietnam and the U.S had clarified the causes of the housing crisis in Vietnam. Many housing projects in the country are prepared without incorporating certain physical and social factors, leading to the lack of feasibility, and therefore, largely seen as the origin of the housing crisis. The proposed solution of this research was to incorporate physical and social factors in the projects represented by the correct selection of the appropriate housing status and dwelling quality for each social group.