In addition, the differential LTV ratios for first-time and second-and-subsequent buyers recognises the asymmetric impact of house price increases on these different groups: whereas a rise in house prices requires extra savings to meet the deposit requirement for a first-time buyer, an incumbent house owner experiences a decline in the LTV ratio on her existing property which expands her borrowing capacity in further 2/5  BIS central bankers' speeches  housing market transactions.
The sufficient condition for sustained human development emphasizes three elements viz., (a) longevity (the ability to live long and healthy life), (b) education (the ability to read and write and acquire knowledge) and (c) command over resources (ability to enjoy the decent standard of living which socially meaningful). Technically, necessary and sufficient conditions discussed above, are referred to as Human Development Index (HDI).