owadays only wealthy people can afford housing, especially in major cities. This causes financial pressure to ordinary residents which have low-and middle-income,that creates social inequality between residents. To solve this problem the government should provide regulation of the property-market which will cause wider access to affordable housing.
One of the main problems of expensive housing is the financial pressure on ordinary families. Lower-income residents are often forced to move in bad areas and uncomfortable conditions because of the price. It leads to the family becoming less stable. Moreover, young adults often delay marriage, starting a family and independent life. Another consequence is that expensive housing depends on social inequality. Lower-income residents being displaced from well-connected areas with the immediate needs, they move to places where they suffer from shortage of urban infrastructure such as public transport, markets, hospitals, schools and jobs that limits their life. In conclusion, high housing prices affect not only living conditions, but also people’s future opportunities.
One possible solution, governments should take more control of the market more strictly to regulate it. One concrete measure governments can take is to impose higher taxes on vacant homes, second properties and speculative purchases. Which causes a discouragement of investors from buying an accommodation only for profit and making more housing available for ordinary people.This would make it more expensive for investors to own multiple properties, which would reduce the number of empty houses. As a result, more homes would be available for local residents to buy or rent.Not only would this discourage property speculation, but it would also encourage investors to put vacant homes back onto the long-term housing market. The second solution is to develop public transport in areas with a lack of bus stations or taxis and the government should provide targeted subsidies. If governments build affordable houses near transport, schools and hospitals, they will create convenient conditions for ordinary people which will make their life more comfortable.Combining regulation with affordable construction would make cities more accessible and socially balanced.
In conclusion, expensive housing creates 2 major problems for residents, such as financial insecurity and social inequality. To solve this problem governments should control speculation and provide more affordable housing.