Global housing stock has not expanded quickly enough to keep up with a surge in demand, but cities can focus on three supply-side solutions to make progress.
One feeling unites billions of people in cities around the world: a sense of sticker shock whenever they attempt to find a new home. From London to Lagos, housing costs are creating financial stress for a large share of the world’s urban residents. Rents and home prices have risen far faster than incomes in most countries, particularly in big cities, where many people want to live and where job opportunities are concentrated. The issue affects everyone from slum residents living on the margins to middle-income households.