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.

[Ab de villiers]

government can also build low cost houses for people. Who are from middle class income families, government can also increase wage rate for people so that they can keep pace with the cost of living and save money to buy properties.

Government oftenly announces housing policy to facilitate its public. I have always found it difficult because the terms and conditions they mentioned against the plan never easy for the public. High interest rate, Guarantee over the documents, installment plans and lack of facilities all are create problems. So common man find it difficult to follow the long procedure.Another issue of  nepotism or favouritism. Employees often give preference to their references first for the policy. Hence, due to lot of flaws owning house for a man is almost unaffordable or inaccasseble.

[Bitcoin.com97]

Truly housing is becoming really high now probably due to inflammation, everything is expensive and high and we don't expect houses to still be the same,it may seem unaffordable but I believe may can still afford it ,but its hard for an average man ,the solution is only when the government decide to step in ,but I don't think they are willing to do that , because even the common things we expected hasn't been done talk more of housing ,but all we can do now is have our finger crossed hoping for a change to come one day .

[goldkingcoiner]

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?

As the population goes up, the more scarce land will become. But the truth is that your or a foreign government can at any time tell you that your land no longer belongs to you. And there will be nothing you can do except accept the cirumstances. But people still believe in real estate as an amazing investment vehicle for some reason... I would rather put the money into Bitcoin.

At any rate, the housing prices are speculative and highly manipulated. We see what happened in China when they tried to sell more houses/buildings than there was demand for them and yet their pricing was made out of thin air.

[Zackz5000]

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?

You don't have to blame landlord for increasing the price of there rent, those who are also building now are buying materials at high cost, before house rent doesn't use to be much expensive because that was how the economy of then was. The prices of things before and now is not the same and the more we continue living the more we experience high cost of needs, if jobs were been created and workers salaries increased i don't think there will be complain in high cost of things because those who are extremely rich don't know if are in high cost or not because they earn high.

[Somto9Light]

You don't have to blame landlord for increasing the price of there rent, those who are also building now are buying materials at high cost, before house rent doesn't use to be much expensive because that was how the economy of then was. The prices of things before and now is not the same and the more we continue living the more we experience high cost of needs, if jobs were been created and workers salaries increased i don't think there will be complain in high cost of things because those who are extremely rich don't know if are in high cost or not because they earn high.

The economy situation is becoming so unbearable and if it continues like this, probably in the next 2-3 years I'm not sure if people will be talking about renting because renting an apartment now cost a fortune then how much more in the future, and with the way things are going right now I don't see any sign of changes it seems that the economy might even get worst in the future.

But so long as there is job opportunities there is hope, all we need is just to learn a better skill against the future because the adoption of AI could make job opportunities to be scarce in the future.

[Vaskiy]

The housing market keeps widening, but the rise isn't equal all around. In some part of the region the price could have taken a 50% rise while the same could've taken a 10% rise which is just 10km away. People keep pushing themselves towards the city looking for opportunities and the same leads to the rise in price of 50% or even higher. At the same time, region little away could have reached a 10% which is all because of the varying demand. In such scenario on practical ground my choice will be to go with the property that is little away from the city. Maybe I need to commute a little which is possible as I'm saving 40% from the price of buying a property in the city region. After a decade even the city gets extended and even our property too gets within the city border. This will once again increase the value of the property. Housing cost is high and it keeps increasing, but if we plan wise it is a possible thing and our valuation needs to be of future oriented.

[LastKiss]

The economy situation is becoming so unbearable and if it continues like this, probably in the next 2-3 years I'm not sure if people will be talking about renting because renting an apartment now cost a fortune then how much more in the future, and with the way things are going right now I don't see any sign of changes it seems that the economy might even get worst in the future.

The only option where I live is to buy a house that's far away from the city, it's the only way to get a house at an affordable/lower price. If I wanted to buy a house in the city where prices have already skyrocketed, I'd have to take out a loan to afford it. If I relied on saving money alone I'd probably only be able to buy one by the time I pension.

But so long as there is job opportunities there is hope, all we need is just to learn a better skill against the future because the adoption of AI could make job opportunities to be scarce in the future.

There are always job opportunities but the real question is whether the pay is good enough to let us buy a house? Well, there are decent paying jobs but there aren't many of them and everyone is fight for those position. People need to make the most of their youth to earn more money and invest wisely if they want to reduce the financial burden of buying a house.

The cost of almost everything has increased because of global tensions and more people are struggling to meet their daily needs. If we don't have a good financial plan for the future, we can forget about owning a house. Renting might be the only option but as you said, even renting a house or an apartment has become very expensive.

[philipma1957]

The economy situation is becoming so unbearable and if it continues like this, probably in the next 2-3 years I'm not sure if people will be talking about renting because renting an apartment now cost a fortune then how much more in the future, and with the way things are going right now I don't see any sign of changes it seems that the economy might even get worst in the future.

The only option where I live is to buy a house that's far away from the city, it's the only way to get a house at an affordable/lower price. If I wanted to buy a house in the city where prices have already skyrocketed, I'd have to take out a loan to afford it. If I relied on saving money alone I'd probably only be able to buy one by the time I pension.

But so long as there is job opportunities there is hope, all we need is just to learn a better skill against the future because the adoption of AI could make job opportunities to be scarce in the future.

There are always job opportunities but the real question is whether the pay is good enough to let us buy a house? Well, there are decent paying jobs but there aren't many of them and everyone is fight for those position. People need to make the most of their youth to earn more money and invest wisely if they want to reduce the financial burden of buying a house.

The cost of almost everything has increased because of global tensions and more people are struggling to meet their daily needs. If we don't have a good financial plan for the future, we can forget about owning a house. Renting might be the only option but as you said, even renting a house or an apartment has become very expensive.

Trump deliberately creates inflation to be hurt all but the ultra rich.

My taxes on my house were 2300 in 1992 and 4700 in 2016.

  Now they are 11200 plus no discounts for being a senior at 69 years old.

I will have to leave in 2027 or 2028. Taxes will pass 14000 by 2028

[laijsica]

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?

Real estate business is currently a very profitable business. If you have a large amount of funds and are experienced in land related matters, you can also start. The business issues and needs depend on the demand. In many cases, since it is not possible to communicate directly between the buyer and the seller, a third party who buys land and advertises for sale and can help you build a house. This is a profitable business.

Many such organizations have emerged in every city who buy land from the sellers and build houses there and sell them. This is a profitable business for them, on the other hand, it is convenient for the buyer because they can buy a house suitable for living with cash. Without any hassle of building a house.

[suhadi88]

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?

That's the pattern of development: people will migrate to places with abundant opportunities for money circulation. That's why many people choose to live in big cities, despite the fierce competition there.

This situation creates demand for housing, whether for temporary or permanent residences. If you're determined to live there, you need to buy land to build a house if you want to stay; otherwise, you have to rent. This opportunity drives up housing prices, both for rentals and permanent residences.