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Research papers on The housing affordability crisis

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  3. Assessing post-GFC housing affordability interventions: a qualitative exploration across five international cities

    Steffen Wetzstein · 2019 · International Journal of Housing Policy · 41 citations

    Abstract This paper confronts one of the biggest contemporary public policy conundrums globally; the challenge of decreasing housing affordability for urban residents. Aiming to align the international literature with the multitude of policy responses following the Global Financial Crisis (GFC), the paper explores ‘in-depth’, and via recontextualisation, the policy priorities and strategies designed to combat housing affordability challenges across five international cities from advanced economy countries – Berlin (Germany), Vienna (Austria), Singapore (Singapore), Sydney (Australia) and Auckland (New Zealand). Carefully guided by critical social science and heterodox political economy liter

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  5. Toward Affordable Cities? Critically Exploring the Market-Based Housing Supply Policy Proposition

    Steffen Wetzstein · 2021 · Housing Policy Debate · 29 citations

    ABSTRACT This article confronts the global affordable urban housing crisis by critically examining what has arguably become the dominant policy rhetoric in advanced economies: the accelerated market-based housing supply. This approach promotes efficient land and housing markets, fashions an enabling approach to planning, aims to deregulate development and building processes, and seeks to curtail local government and planning systems’ powers. These claims are juxtaposed here with heterodox literature strands, and—utilizing a multicity comparative ethnographical methodology—urban stakeholders’ perspectives in the Australasian housing crisis hotspots of Sydney and Auckland. The findings suggest

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  12. The spatial consequences of the housing affordability crisis in England

    Nikodem Szumilo · 2018 · Environment and Planning A: Economy and Space · 6 citations

    This paper discusses the impact of housing affordability on the spatial distribution of productivity and wages. The key theoretical contribution is to phrase the problem as an issue of the composition (rather than the level) of housing demand and link it to heterogeneous preferences and characteristics of households. Using a simple simulation methodology, the study estimates levels of amenity values and wages that would make current house prices as affordable as they were in 1995 in all English local authority districts. Although average wages would be unlikely to increase if housing was more affordable, productivity across England would probably be higher as the spatial distribution of econ

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  13. Can More Housing Supply Solve the Affordability Crisis? Evidence from a Neighborhood Choice Model

    Elliot Anenberg, Edward Kung · 2018 · Finance and Economics Discussion Series · 6 citations

    We estimate a neighborhood choice model using 2014 American Community Survey data to investigate the degree to which new housing supply can improve housing affordability. In the model, equilibrium rental rates are determined so that the number of households choosing each neighborhood is equal to the number of housing units in each neighborhood. We use the estimated model to simulate how rental rates would respond to an exogenous increase in the number of housing units in a neighborhood. We find that the rent elasticity is low, and thus marginal reductions in supply constraints alone are unlikely to meaningfully reduce rent burdens. The reason for this result appears to be that rental rates a

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  14. Affordable Regulation: New York City Rent Stabilization as Housing Affordability Policy

    Kasey Zapatka, Juliana de Castro Galvao · 2022 · City & Community · 5 citations

    The growing housing affordability crisis is at the center of conversations about U.S. inequality. This paper reconsiders the role of rent stabilization as one important affordability tool. We investigate who is most likely to benefit from rent stabilization, how much non-stabilized renters would save if their units were stabilized, and the extent to which stabilization would reduce rent burden among households. Using New York City Housing Vacancy Survey data and employing logistic and hedonic regression techniques, we show that Hispanic and foreign-born householders are more likely to live in rent-stabilized units and find evidence of both rent savings and rent burden reduction when comparin

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  15. Affordability, Home Ownership and the Middle Class Housing Crisis in Hong Kong

    James Lee · 1994 · Policy & Politics · 5 citations

    While the housing markets in the western world suffer from problems centring around falling demand and negative equities, Hong Kong stands in stark contrast to this development. Rising affluence and conflicting government policy have led to a phenomenal growth in house prices and a general increase in home ownership. This situation has triggered off two different but related social processes. First, home ownership has created substantial wealth and life chances for established home owners and there are indications that social division is being gradually restructured. Second, the same process has also residualised a sector of the middle class – classified as the ‘sandwich class’ in Hong Kong

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  16. Victoria’s 2023 Housing Policy Agenda: Addressing Decades of Neglect or a Missed Opportunity to Reframe Housing Issues and Solutions?

    T. Moore, A. Doyon · 2024 · Urban Policy and Research · 4 citations

    ABSTRACT There is a housing crisis occurring around the world and Australia is not immune. Australian cities are suffering from issues not just around housing supply and affordability, but quality and performance and the housebuilding industry is stretched to capacity. Various levels of government have developed policies to address key housing challenges. We explore the announcements made by the Victorian Government in 2023, and whether these are likely to be sufficient for making significant change; or if it is a missed opportunity to reframe housing issues and solutions. We finish by drawing upon international best practices to demonstrate further opportunities.

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  17. Is Housing Supply an Effective Remedy for Australia's House Price Affordability Trend?

    Christian A. Nygaard · 2025 · Australian Economic Papers · 3 citations

    At policy level, the remedy for the housing affordability trend and crisis experienced in Australia and internationally is increasingly focusing on raising supply above historic levels of output. This Policy Analysis evaluates how effective increased housing supply is and can be in tackling house price affordability trends. A long‐run model of house prices and housing affordability is estimated (1974–2023) to identify the required levels of dwelling output to stabilise and improve the house price to income ratio. Achieving Australian aspirational supply targets would only marginally improve the price–income ratio, and only after 20 years of above average supply. One reason for this is

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  18. Travel sustainability of new build housing in the London region: Can London's Green Belt be developed sustainably?

    Duncan A. Smith · 2025 · Cities · 3 citations

    Although London ’ s high-density compact city planning has largely delivered sustainable development in the urban core, the wider regional challenge is that housing targets have been consistently missed for the last decade, and the lack of supply is exacerbating the housing affordability crisis. Releasing Green Belt land has been cited as a solution. This paper analyses new build development in the London region from 2011 to 2022, and confirms that Green Belt policy needs reform – local authorities in the Green Belt have the lowest housing delivery in the region, and car dependent ‘leap-frog ’ development is occurring beyond the Green Belt boundary. The relaxation of Green Belt restrictions

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  20. Australia's Housing Affordability Challenge: A Comprehensive Analysis of Effective Policy Solutions

    Shahid Rizwan Baig, L. Sarwar · 2024 · Global Social Sciences Review · 1 citations

    Australia faces a significant housing affordability crisis, marked by rising house prices and rents. This paper reviews the current state of housing affordability, evaluates existing policy responses, and explores potential solutions to the crisis. Using data from the National Housing Supply and Affordability Council, it highlights the imbalance between housing demand and supply, driven by factors like increased migration, economic instability, and low investment in social housing. The study includes comparative insights from other countries, such as Pakistan, to understand different policy approaches. It suggests targeted reforms to boost housing supply, improve affordability, and address u

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  21. The Housing Affordability Crisis and Government Policy Actions in Taiwan

    Chien-Hsun Chen · 2018 · Economic Alternatives · 1 citations

    Following the 2008 global financial crisis, the so-called easy monetary policy or Quantitative Easing (QE) was adopted by the United Stated, Europe and Japan. Due to the free movement of capital around the world, an increase in the monetary base (QE) policy has tended to push up housing prices in Taiwan. Since Taiwan had experienced rising income inequality aggravated by higher housing prices and stagnant wages since the late 1980s, income distribution and housing affordability rather than political issues became salient for Taiwan’s presidential election in January 2016. As the effective demand for housing depends mainly on household income, the housing price and household income are two sa

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  22. Housing Affordability Crisis and Urban Inequality in Rapidly Growing African Cities: Evidence from Lagos Metropolitan Area"

    I. Okafor · 2026 · IIARD INTERNATIONAL JOURNAL OF GEOGRAPHY AND ENVIRONMENTAL MANAGEMENT

    Rapid urbanization across African cities has intensified housing affordability challenges, deepening social-spatial inequalities. This study examines the dynamics of housing affordability and urban inequality in Lagos Metropolitan Area, one of Africa's fastest-growing megacities. Using a mixed-method approach combining secondary data, affordability indices and spatial analysis, the study reveals that rising housing costs, inadequate supply, and institutional inefficiencies have exacerbated inequality and informal settlement growth. Over 70% of Lagos residents are renters, with many spending 40–60% of their income on housing, far exceeding global affordability benchmarks (RIRFHUD Repor

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  23. Opportunities for Better Federal Housing Policy: How the Biden Administration and Congress Can Improve Housing Affordability

    E. Hamilton · 2021 · SSRN Electronic Journal

    THE HOUSING AFFORDABILITY CRISIS For decades, some of the US cities where demand for housing has been highest have been experiencing rapidly rising house prices. Local restrictions on new housing supply, including minimumlot-size requirements, single-family zoning, parking requirements, and historic preservation rules, all limit the supply of housing allowed within localities and drive up the cost of housing that is permitted. Federal policymakers have an interest in local zoning reform that improves housing affordability and opportunities for people to live in the location where their best job opportunities are located, and President Biden’s campaign released a housing plan to this end. The

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  24. Improving Housing Affordability

    Benjamin J. Keys, Vincent J. Reina · 2026 · SSRN Electronic Journal

    US households face unprecedented challenges related to the high cost of housing. In this paper, we characterize the affordability crisis, assess the primary drivers of unaffordable housing, and offer potential policy solutions. We argue that several distinct housing-market challenges—including financing gaps, local restrictions that make it difficult and/or costly to build, and a lack of an entitlement program— present distinct challenges to both an adequate and an affordable housing supply. Importantly, though, the impact of these features becomes more dramatic during economic downturns. Our current national housing challenges are a product of longstanding structural challenges that were am

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