About 90% of cities around the world do not provide affordable housing or of adequate quality. The cost of housing, as well as location, prohibits people from meeting other basic living costs, threatening their employment and fundamental human rights.
Cities are growing at an unprecedented rate, presenting an incredible opportunity for the development of local economies. However, their residents need good, affordable housing – and this remains a challenge around the world. Well-functioning property markets can act as a financial springboard for enterprises and job creation. An enabling environment for affordable housing can be developed with the right infrastructure, investment and macroeconomic policies targeted towards social and financial inclusion. The challenge of affordability requires not just short-term fixes but also long-term strategies. Solutions will need to address both the supply side and the demand side of the housing market, and involve public-sector, private-sector and non-profit stakeholders.
Source: World Economic Forum
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