Exchange and Use Values of the Building Industry - Case Study Example

Student’s Name: Instructor’s Name: Course Title: Date: EXCHANGE AND USE VALUE The exchange value of the building industry indicates that housing as a commodity is “supposed to be produced in a way that meets the condition set by the industry, in order for it to be exchanged in the formal markets” (Vertiage 2055). The same house needs to meet and satisfy all socially acceptable standards so that it acquires use value. Therefore, a house derives its exchange value from its inherent quality which gives it a certain value making it worth to be exchangeable against legal tenders or other commodities. The real value of the house is however in the social value since the exchange value is only related to the production time and the rate of profit desired by the seller. Since the use value is based on the attributes that human beings want to satisfy, it can be said that the use value is the one that creates the need to exchange commodities. This distinction helps to differentiate between a housing unit that is socially acceptable on the basis of satisfying the necessary attributes and one that does not satisfy these attributes. For example squatters and other groups that build houses with minimal resources, coupled with lack of skills, spend much more time than that spent by a building company which has all the resources at its disposal. The two houses may end up having similar use value when basic satisfaction is considered but they can't have the same value attached to them in terms of time. Vertaige (2064) acknowledges that “when the economic dimension of the efforts and the use value are considered they are not proportional at all.” When the two houses are set for exchange the one made by the squatters loses a huge amount of labor. Therefore the use value of a house relates to the satisfaction of defined social needs and wants. When people cannot access housing and hence depend on the state to provide them with housing, it is important to interpret their needs accurately so as to provide them with adequate housing. A home is central to the well being of the human race in all places around the world. It is in their homes that the life cycle of a human being occurs. The children are born in a home setup, they get married, procreate, go to places of work, grow old and die in the same home set up. The economic, social and political systems are founded on the homes that the human race has created for themselves. The “quality of homes differs with cultures, form and uses. Despite the lack of universality, it is acceptable that a house is evidence of well being and among the largest component consumed by the human beings” (Vertiage 2066). It is therefore paramount that a house as unit of physical setting improves and adds value to the well-being of those who occupy it. The house improves the well being of its occupants in terms of comfort and privacy provision as well as acting as a form of investment for the occupants. The first home that my family lived in was a multi-family house built in the year 1977. It was constructed to the standards of the time where most multi-family houses had two bedrooms. The house was constructed to suit the number of family members, based on the economic status at the time. It also had heating system which used warm-air furnaces to ensure warm temperature in times of cold weather. The house had a garage to enable secure parking of the family car. Some of the amenities found in the house included a cooking stove, a refrigerator, bathroom fitted with a shower that had hot and cold running water. The plumbing system was well done ensuring no leakages. The only safety feature fitted in the house was a smoke detector which at one time failed to detect smoke in the house which could have caused a fire at home. The neighborhood also accorded us some amenities. The grocery was just a few blocks from the house and hence shopping for grocery was easier. The train station and the bus stop were also close to the house. Other amenities such as the community hall were not available. The second house that my family acquired and in which we still live in today, is a single-family house which is detached and stands on its own. It was built in the early 2000s and sits on 0.75 acres pieced of land. The house has six rooms which include three bedrooms, a living room, a dining room and a laundry utility room. The house also has a garage which accommodates two family cars. The equipments found in the house include an electric heating system and a central air conditioning system. Other amenities in the house included a modern cooking stove, a refrigerator and a kitchen sink. The kitchen is also fitted with a dishwasher. The bathroom is fitted with a bath tub and a shower both of which have hot and running water. The house also has several fitted flush toilets in the different bedrooms and a common toilet for visitors. The house also has a washing machine and modern clothe dryer in the laundry utility room. The plumbing system is ultra modern and the family has never experienced any blockage. There is also a garbage disposal area next to the house. The safety feature of the house includes an ultra-modern fire extinguisher, a smoke detector, carbon monoxide detector and an automatic sprinkler system. The neighborhood offers various amenities such as shopping mall which is within the estate, a public park, a community gym and a social hall for indoor games. The neighborhood also has jogging trails and there is also a golf course located just a few yards away. The first house that our family occupied had some advantages and disadvantages. Given the economic status of the family at the time, the cost of the house was affordable. The house was also located in a neighborhood that had various amenities such as the grocery which allowed us to have an easy time when it came to doing shopping for the groceries. The house had the advantage of making better use of renewable energy such as the one used for the heating system. The neighborhood also had community amenities for recreation which served to meet the recreation needs of the family. The house was also located in a relatively safe neighborhood and a minimal case of insecurity being reported each year. According to most of my family members that’s where the advantages of this house end. Most complains about the house are regarding the congestion that resulted from having few rooms for the family. This led to some of the rooms such as the living room doubling as a bedroom at night so it could be used by some of the family members. This caused safety and other related health inconvenience to the family members. Due to some family members sleeping in the living room, there arose problems related to lack of privacy and disregard of personal space for some family members. This had a negative impact on their school performance. Negative social impact on the family members had a bearing on the health bill and the insurance cost for the family. The minimal public spaces that were available for restoration meant that the family did not engage in social and recreational activities as it is supposed to be in an ideal situation. The house which is mainly fitted with many ultra-modern facilities is what would be regarded as a good housing unit. Many fittings in the house allowed a lot of comfort for the family members. The many rooms available in the house allow more privacy for the family members. This has enhanced the respect for the different members of the family. The provision of being able to have a toilet in every room also serves to enhance the comfort of the family members. The fittings in the house are more reliable even when it comes to issues such as fire and security. The family enjoys a sense of identity with this new residence. This ensures that the family is able to make more use of the public and other amenities available in the neighborhood. This has served to ensure improved spiritual and physical well being of the family members. With other facilities such as hospitals being available in the neighborhood, the family enjoys better health compared to there before. The only major disadvantage of this housing unit is that the family reports expenditure on housing than it was therefore. The fact that a family owns a home is not enough, since it is important to ensure that the use value of the house meets all the needs of the family members. A house whose exchange value is high and does not meet the use value of the family will at the end of the day affect other spheres of their lives. A good housing unit also enhances the social life of the occupants due to an improved sense of belonging and better amenities in the neighborhood. The issue of economic status does however have a big bearing on the type of housing a family chooses. Works Cited Vertiage, Needham. "Negotiating about Residential Environment: Housing is not only money that matters." Urban Studies (1997): 2053-2068. Read More