The concept of affordable homes came into existence after the recession that hit real estate industry in 2008. From the beginning of 2000, a house meant stretching resources to the maximum due to the IT driven property boom. Since many people could not afford the sky-rocketing prices, they were left out of league.
Although property prices were comparatively lower at the outskirts but buying there was not considered wise since the connectivity was inadequate.
After some years came the 2008 recession. The lapse of the IT sector which resulted in job uncertainty all around hit the realty sector, in the very similar manner as it did to many others.
Then the realty market which was much affected by the IT sector went under a price correction. With this correction came the new concept of Affordable Homes.
