March 25, 2021
Housing, Affordability and Wealth
Rising home prices have contributed to increased wealth inequality. The rapid urbanisation during the last few decades has created severe problems of housing in cities. As demand continues to rise and the supply of affordable housing remains a challenge for the government, the price of existing units has greatly increased, leading to inequality in wealth generation. Owning a house can significantly contribute to the level of wealth an individual will accumulate over their lifetime. The rising inflation of real estate prices has helped shine a spotlight on broader issues related to housing affordability, wealth inequality, and inclusive economic growth. The upward creep of home prices relative to income...
