Housing is becoming unaffordable across the world

[Pablo-wood]

•What could be the possible solution?

I think the possible solution is for those who can't meet up with the high cost of living in the cities to find accommodation in rural or semi-rural areas then pay their way daily to urban areas for their everyday business. The truth is the cost of house price won't reduce anytime soon. It is either we are working harder to afford the cost or we get forced to relocate to rural areas where it is slightly cheaper.

Many attribute this hike to the increasing cost of building materials but for me I don't see it this way. Most house  prices are over hyped and due to desperation and need for shelter people have no choice but to pay.

[puloweh555]

In many countries, house prices have risen far more than wages, making it increasingly difficult for ordinary people, particularly first-time buyers, to afford a home. As people continue to move to large cities in search of better opportunities, the demand for housing keeps growing. In addition, many investors buy properties not to live in, but to benefit from rising prices.

•What could be the possible solution?

This is a real and increasingly serious problem in today era. This is due to increasing population growth coupled with inflation which ultimately leads many people to see this as an opportunity to hedge against inflation, ultimately causing house prices to rise much faster than the average person's income. Consequently, it's increasingly difficult for many younger generations to own a home, while wealthy investors earn capital gains plus rent.

The most sensible solution is to rent rather than buy, especially if you buy on credit. While a home is essential for a comfortable life in the future with current house prices it's best to postpone buying one. Renting while postponing buying often makes more sense, allowing you to invest your capital in productive assets you understand. Passive income from controlled investments is indeed better than being forced to own a home.

[Creeper0]

•What could be the possible solution?

Why fight for what you cannot afford? Try to live within your means. If the price of houses in the city is high, buy a house where the price is low. Buy the house that you can afford. Maybe the distance between your house and the source of income may increase a little, maybe the transportation cost may increase a little. But no problem, you will be able to bear small daily expenses.

It is normal that the price of houses in the city will be relatively high. Because the population is increasing there, factories or sources of income are becoming city-centered. Most of the advanced facilities are available in the city and the villages remain underdeveloped.
One possible solution to this is that the people should learn to live within their means and another solution is action from the government. The sources of income should be spread as much as possible and the rural areas should be developed.

[abhiseshakana]

The only possible solution to the increasing demand for housings and the price hike that comes along with it as a result of the high demand from possible buyers and developers is for government to regulate the process thereby reducing the excesses of these developers who seek to exploits first time buyers who are eager to own their own properties.

The government will not respond to this demand because of their involvement in the real estate and housing business, the growing cost of high prices in houses in the developing and the underdeveloped countries is because the politicians has now taken over the business as their own personal way of milking the people and making things more difficult for them and the worst part of it is that most of them use their powers and office to make money they use in investing in the business yet they do not want it to be affordable for the people.

The estate developers can't be stopped by the government since they are partners and they know exactly what they are doing, it will take the actions of a separate body who is not involved in the act to sanction the action of the developers because they are making houses more expensive everywhere.

In my country, there are Ministry of Housing and Settlements (PKP) which has major program for distribution of subsidized house ownership loan, house renovation, building permanent housing in many district. Its mean government has sensitivity to the public's housing issues, even effective implementation still get many challanges but my government commitment to widening access to home ownership for public this deserves a thumbs up. My observation, fovernment face dillema in maintaining healthy property industry but also ensuring state revenue from taxes meanwhile they must ensuring low income community continue to get opportunity to have decent housing.

Beside that put blame to developer only, I think it's very reckless considering price component which shaped house price influenced by many factor. I think to solve housing problem not only by lowering house price but will be more effective if government can increase people purchasing power through economy, high employment and healthy access to financing. Decent housing can be tools for government to get political advantages and also social benefit.

[letteredhub]

The only possible solution to the increasing demand for housings and the price hike that comes along with it as a result of the high demand from possible buyers and developers is for government to regulate the process thereby reducing the excesses of these developers who seek to exploits first time buyers who are eager to own their own properties.

I have always advocated for the split in the location of industries and not a situation of concentrating all the industries in same area causing the over population of that region making those in search of houses far more than the available houses. check out the supposedly most civilized country and you will find out that there wealth is just concentrated in a small region of there society and that the overall population of the people in that region is concentrated in that region. circulate industries in different location and reduce the concentration of people in a single location and you will solve at least 70% of the current housing problem.

This is matching regulations with decongestion scheme through industry and institutional positioning. In a country where there is regional favouritism from the centre it could be very hard to have this considered by the elites or government, it's a practical situation in my country Nigeria.

Here we have a situation where almost all the multinational companies headquarters including those of banks are situated in Lagos, majority of government agencies headquarters and the only well functioning sea port, all in Lagos. And due to this, it has created an exploded hike in price of house rent because of the robust population there. Example, you'll  find double the rent in Lagos for a space you can get half the rent in cities like Port Harcourt or Calabar

[BIT-BENDER]

The only possible solution to the increasing demand for housings and the price hike that comes along with it as a result of the high demand from possible buyers and developers is for government to regulate the process thereby reducing the excesses of these developers who seek to exploits first time buyers who are eager to own their own properties.

I have always advocated for the split in the location of industries and not a situation of concentrating all the industries in same area causing the over population of that region making those in search of houses far more than the available houses. check out the supposedly most civilized country and you will find out that there wealth is just concentrated in a small region of there society and that the overall population of the people in that region is concentrated in that region. circulate industries in different location and reduce the concentration of people in a single location and you will solve at least 70% of the current housing problem.

This is matching regulations with decongestion scheme through industry and institutional positioning. In a country where there is regional favouritism from the centre it could be very hard to have this considered by the elites or government, it's a practical situation in my country Nigeria.

Here we have a situation where almost all the multinational companies headquarters including those of banks are situated in Lagos, majority of government agencies headquarters and the only well functioning sea port, all in Lagos. And due to this, it has created an exploded hike in price of house rent because of the robust population there. Example, you'll  find double the rent in Lagos for a space you can get half the rent in cities like Port Harcourt or Calabar

It's not only in Lagos, this happens in many part of the world, the house rent hike in Urban and industrial areas are known facts by now, the search to put food on the table attracts people of all types educate and uneducated alike because their is always one or two opportunities for everyone.
The only few opposition to this comes from the wealthy rich, some people wants to be away from all the struggles and buzzle of an industrial area, so they look for a more serene, beautiful and artistic environment to leave and because of these their ostentatious need the price that should be low to moderate goes extremely high.

[uchegod-21]

The only possible solution to the increasing demand for housings and the price hike that comes along with it as a result of the high demand from possible buyers and developers is for government to regulate the process thereby reducing the excesses of these developers who seek to exploits first time buyers who are eager to own their own properties.

It's the sole responsibility of the government to do it because if they refuse to do it then it would be business as usual, without the necessary regulations the developers would stop at nothing but to continue exploiting the gullible buyers.

Land is fixed and limited, as human activities continue, land will become scarce the more and expensive because it it scarce. Whether the government regulates the distribution of land or not, inflation and Scarcity will still make land expensive.

The government can still come in to regulate the activities of Real Estate investors and property developers. In my country, these people accumulate large portion of lands for business purposes. The amount of land they accumulate are not regulated as they can acquire more lands without limits to what they can acquire. These people are part of the problems, they cause drastic land scarcity that makes the common people unable to afford land, not to talk of developing the acquired land.

Regulations will slow the rate at which the cost of owning a house increases, but increase in cost of owning a house will remain our sad reality.

[Alex077]

Low cost housing maybe good option with this and government will do partnership with private investor. Since with this maybe at least there's some economical movement happening which can help the economy to kick in.

Yeah, govt can partner with private investors. This could be way to solve housing crisis.
But it is not entirely effective either. Corruption is rampant, especially in developing countries.
I doubt whether average middle class buyer will ultimately benefit from corruption.

But what if the govt eases the path for private investor? What if it reduce their taxe, and helps simplify the process of building housing?
As we all know, investors face various administrative difficulty in these type of activity.

In addition, govt can increase the number of permit for construction of multi storey buildings. They can also help facilitate the procurement of construction material. As a result, private investors will benefit. At the same time those who want to build houses on their own initiative will also benefit.

[DiMarxist]

Why are people sounding surprised about the hike in the price of housing either for renting purposes or buying the property. We should not forget about the rising cost of inflation which is the principle problem why things like housing or other important things are on the high. If you can ask anyone building a hose now, the person will explain to you what he is facing.

Until you have a personal experience about building a house, you may not understand because of recent someone who is close to me was building a house and that is when I realized what building a house is all about. The truth is that we should not blame these landlords because building a house is actually costing in the real sense.

Before we can talk about affordable housing either for buying or even renting government should look at the issue of the rising cost of living which to me is a general problem across the world, but the price of housing is much difficult even in developing countries where most of the buildings materials are imported.

[Die_empty]

This is a real and increasingly serious problem in today era. This is due to increasing population growth coupled with inflation which ultimately leads many people to see this as an opportunity to hedge against inflation, ultimately causing house prices to rise much faster than the average person's income. Consequently, it's increasingly difficult for many younger generations to own a home, while wealthy investors earn capital gains plus rent.

The most sensible solution is to rent rather than buy, especially if you buy on credit. While a home is essential for a comfortable life in the future with current house prices it's best to postpone buying one. Renting while postponing buying often makes more sense, allowing you to invest your capital in productive assets you understand. Passive income from controlled investments is indeed better than being forced to own a home.

In my country the increase in population of major cities is caused by global warming and insecurity. People are migrating from rural areas to cities in search of better opportunities and avoid violence. Low-income earners who want to own houses move to cheaper places outside the main cities. Land in these semi-urban areas is cheap, and people could build a simple house on it.

Those who don't have enough to own houses should focus on renting. However, owning land or a house is a good investment. The price of land keeps appreciating over the years. So I encourage people to diversify their investment to real estate.  If you have land in an area that is experiencing population growth, the price will appreciate fast.