Housing is becoming unaffordable across the world

[Fragrance1122]

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?

[Ndabagi01]

Inflation is the cause of it and it is happening in every sector and not just in housing. I remember asking someone about a business I could do that I won’t have issues with the one been put in charge to look into the business for me and he said immediately that building a house and putting it out for rentals is one of the lucrative businesses now. I was shocked hearing that but after doing my research more on how building materials are getting more expensive, landlords also tend to increase their house rents. Even old houses are now increasing their initial cost of renting an apartment to meet up with the current price of building materials in the market now. The only solution is the prices of building materials falling down, if not falling down, we may continue to see the rise for years to come from now.

[sunsilk]

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.

Not only first time and ordinary people, even the middle-waged earners they're also having difficulty in purchasing their homes.

The monopoly of the real estate industry has been there and the wealthy people are in the game controlling the market per area.

•What could be the possible solution?

The government needs to help everyone. From affordable social housing and helping to subsidize the mortgages. The law of supply and demand is still applicable here.

When there will be more houses to occupy, the demand will become lesser. Thus, the price is.

[Rruchi man]

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.

It is more difficult now but not impossible if you are able to plan properly and set a target on a home that you can realistically afford. For example, if you are an average income earner, it will be extremely difficult for you to plan to own a home that is very large and will cost a lot. There are smaller structures that, if possible, you can afford, move into, and plan your life around and from there move on to something better.

As people continue to move to large cities in search of better opportunities, the demand for housing keeps growing.

And solutions will come up to foot the housing demand but for someone who is relocating to a bigger city, they should not expect to have things easy because it is a newer challenge and one of their major issues could be finding an affordable accommodation.

many investors buy properties not to live in, but to benefit from rising prices.

If you have the resources to do the same, will you not?

[Nwada001]

The real estate sector is booming; it’s no longer a new thing, it’s now something we need to accept. The only place I’m always against some of the landlords in the cities without proper housing regulations is how they can comfortably increase rent for their homes, which are still with old structures; nothing was renovated. For new buildings, we can understand that the cost of building has increased due to an increase in labor costs and building materials.

If there's ever going to be a solution, it should be that the government should step in and regulate how houses are being priced in terms of rent. In some countries, some civil servants can’t even afford to pay for a decent home rent with their 6 months' salary, which is half of a full year.

[Shadiq]

The main reason for this is excessive urban dependency. There are no people to live in the houses in the villages, but there are no houses to live in the cities. The solution to this can be that the government should decentralize all services and facilities as much as possible. The villages should be developed and investments should be made in the villages as well. My main question is, why should a person go to the city for more income? Why is it not possible in the villages? There may be a difference in income between the villages and the cities, but the government should take steps to ensure that it is not too much.

I don't know if you will believe it or not, but the truth is that living in the villages is peaceful compared to the cities. But the main reason why people move to the cities is the facilities. Although the source of income is one reason, the facilities make the main difference. If the facilities were available in the villages like in the cities, then many people would still be connected to the source of income in the cities even though they live in the villages. Decentralization would have played a big role in removing the difficulties of the source of income.

[Royal Cap]

What could be the possible solution?

It is not possible to fix this problem with just one solution. However the most important thing for me is to consider housing as a place to live and not just an investment asset.

As people continue to move to large cities in search of better opportunities, the demand for housing keeps growing.

Exactly, as long as good jobs and opportunities are limited to a few big cities, the pressure on housing will also increase there.  Building new houses alone will not solve all the problems, but rather it is necessary to increase employment opportunities in other cities and regions, then the pressure on people to move to big cities will be reduced to some extent.

[Woodie]

Honestly, I would point to supply and demand to blame for the rise in housing expenses... the problem is that everyone wants areas that have all the luxurious amenities such as the gyms, sports facilities, malls , clubs you name it... and what this does is that competition for  good accommodation just pushes price up as demand continues to rise and the only way to afford decent housing is to avoid these luxury locations and you will be okay, otherwise if you want something that checks all your boxes be ready to pay a premium 

[Cryptomultiplier]

The main reason for this is excessive urban dependency. There are no people to live in the houses in the villages, but there are no houses to live in the cities. The solution to this can be that the government should decentralize all services and facilities as much as possible. The villages should be developed and investments should be made in the villages as well. My main question is, why should a person go to the city for more income? Why is it not possible in the villages? There may be a difference in income between the villages and the cities, but the government should take steps to ensure that it is not too much.

I don't know if you will believe it or not, but the truth is that living in the villages is peaceful compared to the cities. But the main reason why people move to the cities is the facilities. Although the source of income is one reason, the facilities make the main difference. If the facilities were available in the villages like in the cities, then many people would still be connected to the source of income in the cities even though they live in the villages. Decentralization would have played a big role in removing the difficulties of the source of income.

I agree that decentralization and the source of income that could come from Bitcoin investment and trading and use for payments could help curb the rising cost of housing in the cities because of mass relocation to those places.

We even see that mining farms with their sources of energy production fares well in the more rural areas where cost of living is low and it should be a point to venture into if there was better enlightenment and sensitization workshops for citizens, instead of the dependence of work in the city and mass migration leasing to increased cost of rent.

[Mame89]

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?

Essentially, one factor that makes housing unaffordable or expensive at the moment as Ndabagi01 stated is inflation. Inflation drives up prices in almost all sectors including housing. Building a house from scratch is even more expensive due to rising building materials. Inflation also drives many wealthy individuals to hedge their investment by investing in properties or houses. Building a house and then renting it out can be profitable during times of inflation and also profitable in the long term. This is what drives housing prices higher for those on the lower and middle income levels.

The solution is not to force yourself to buy a house with limited funds. Renting is better, so the money you would have spent on buying a house can be invested in fundamental assets like Bitcoin, allowing you to profit from the investment. I mean, renting is better now than buying with limited funds, especially if you run out of money after buying a house. Moreover, if you buy a house on credit this is certainly a wrong decision. It would be better to invest the house down payment money in assets.

[Cookdata]

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?

Are you not seeing increase in price of building materials. Cement in 2022 were cheap, today it cost 5x that amount, roofing sheets are modernize today and more quality than to the old ones and more expensive ontop of that inflation has skyrocketed and you expect price to be the same? No way! You also said demand, if what build a house is expensive but real estate developers are still giving quality houses, it's going to be rushed because people was to quality things.

The only people I have problems with are people that does set old house at high price. We know there is inflation, prices of items are expensive but it's criminal to want to lease out house that was built 15 years back to a the price of houses that are built in 2026. I don't see that as business, I see them as extortion and advantage because they know there is demand and if they put price on the house, people are going to take the houses irrespective of how much they put on them.

[Hamza2424]

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?

Buy places where you can afford is the first option. Increasing your income is the second, as if you will have different sources of income and assets to back you up in hard times when you won't have any active income source, then you can think better because you will be in a place where you can take risks and try to move out from your comfort zone.

Anyway, to buy a new house, you have to work hard and save a lot of money. I recently moved into a new house which I bought for the very first time. It was not easy, and I had help from my father as well. The point is, I lived most of my life in rented places, but having a house is the biggest blessing.

Anyway, buying properties alone where you can build a house later are being done by rich people, those who have tons of money and can buy anything with that, because they know the worth of having physical assets rather than having money in banks, which they can't even withdraw at the end in bulk. So it is better to withdraw in parts and convert them into a physical state. Move to cities where houses are cheap, but there is not a single city like this, so you have to buy one in the radius of at least 12 to 15 km, which is a good distance and you won't lose much even in transportation, but do your math first.

[yudi09]

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?

What solution do you mean? Is it in the context of how people can own a home when housing prices are already out of reach? If this is true, my solution is to choose a contract or rental system, depending on each individual's circumstances. If you're still living alone, perhaps renting a room in a rental property is sufficient, but if you have a wife and children, choosing a suitable-sized house and not choosing a house in the city center is the best option, in my opinion.

House and property prices increase every year. This is understandable, as price increases can be caused by rising prices of goods, such as materials. The reason for the increase is the country's inflation rate.

[Cookdata]

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?

What solution do you mean? Is it in the context of how people can own a home when housing prices are already out of reach? If this is true, my solution is to choose a contract or rental system, depending on each individual's circumstances. If you're still living alone, perhaps renting a room in a rental property is sufficient, but if you have a wife and children, choosing a suitable-sized house and not choosing a house in the city center is the best option, in my opinion.

House and property prices increase every year. This is understandable, as price increases can be caused by rising prices of goods, such as materials. The reason for the increase is the country's inflation rate.

What are you going to do if you have a job in the city. Why would anyone even rent a home in the city if they don't have a job in the city? If you look at the average house in New York, they are very expensive that I think peer pressure is just making some people want to rent those houses, I will move away to other city where I can have the same job if I'm.gking to spend half of my pay check on house rent, tiny house where you can't even spread leg but very expensive. OMG. 

The solution is simple, stay where you can afford. You don't have to build a home. Some people do it because of their kids and family but you realize that the kids you are building house for will not stay with you for long. When they are ready to move out, they are gong to get their place and start their life. If you have plan on retiring one day and rest, build in places where there is less demand, it does not mean you will build cheap but better than in Cities, prices of materials are incomparable.

[Fortify]

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 hardly a new state as house price growth has outpaced wages for many decades now, but there does have to be a breaking point if it continues because it eventually returns to a state where their are lords of the manor with effectively slaves who will never be able to own their own property. Capitalism is broken right now because so much wealth has consolidated at the top which is not benefiting more than a handful of people. If these billionaires were taxed properly or gave back to the countries they grew their fortune from then there would likely be less friction. Right now though, they just take their wealth to build more wealth but it actually prevents everyone else from moving up as we all end up fighting for the scraps remaining.

[lionheart78]

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?

In my country most people in the province move to the city because the wages in the city is way higher than in the province.  I believe this is one of the reason why the house prices in the city increases rapidply.  More demand but limited supply due to space limitations, while those high-rise buildings were overpriced.

I think basic wages should be implemented equally across the region.  This way, people will stay in their hometown and avoid overpopulation in the city.  In addition, the government must also create a plan to implement standard but low-cost housing around the city and develop it.

The government should also put more investment in rural areas, creating sufficient jobs for the locals so they don't have to migrate to city to look for jobs.

[Wiwo]

The solution is simple, stay where you can afford. You don't have to build a home. Some people do it because of their kids and family but you realize that the kids you are building house for will not stay with you for long. When they are ready to move out, they are gong to get their place and start their life. If you have plan on retiring one day and rest, build in places where there is less demand, it does not mean you will build cheap but better than in Cities, prices of materials are incomparable.

Overall I think the government must have to step in to solve the housing deficit crisis, here in my city, cost of housing both the rental and buying is high and almost impossible for a normal income earners or business people to own homes, and even at that high cost though to demands the bedeviling thing is that we have several estate that are standing empty for years without people occupying it, this make me wonder what exactly I the problem with the high cost of housing when we have alot of empty houses around.

Government most step in to regulate the real estate sector and also, the building materials market, the underegulated sector is what is causing this crisis that have made accommodation to become something of luxury for many people.

[Freeveto]

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 problem has started long ago, not just now, although it has become more obvious due to inflation; prices of building materials keep going up, and the demand for luxury has aslo forced house owners to upgrade their homes to bring some chnages that involves new technology advancements which usually cost money, because of that, the housing becomes very expensive to a common man.

Despite the inflation, so many investors has focused on real estate, the competition among the big investors is affecting the local investors and normal average people that are supposed to rent an appartment for shelter; this has actually applied morepressure on people to hustle more to afford their housing, and this problem is everywhere.

[Jubilee58]

The price of affording a house is on the increase, and it is causing even many to relocate from large cities to towns, and villages where rentage of house can be more affordable.
The reason why houses are very high in price is because of inflation, people are spending big amount of money to erect buildings, so they now place price according to the money they spend in erecting this buildings.

Another thing that is causing high cost of building is congestion, when a city is so congested, it creates the room for high cost of rentage.

However, there are solutions to high cost of houses, such as rent regulation. The government should regulate house rentage, owners of buildings shouldn't place any price they want, expect tenants to pay.
Some buildings are old buildings, but their rentage is costly because of no regulation.

Decongestion is another way to reduce price of buildings or houses. Fore instance, if some government institutions are sited out of major cities, workers will spread, reducing population in major cities, and also reduce cost of rentage.

[retreat]

•What could be the possible solution?

The solution is either to increase your income and save money so that you can buy a house, or to simply rent a house. Buying a house is a major decision, especially for those who come from poor families with limited incomes. It might seem like a dream for them. But if they can manage their finances properly and save more money, they might be able to buy their dream house, either by paying in cash or through mortgage payments. In some countries, the government even offers subsidized mortgage programs, allowing people to buy houses at more affordable prices. So it shouldn't be something that is impossible.