With the modernization, many people opt for migrating to big cities, leading to housing shortages in urban areas. Although many people believe that this phenomenon can only be solved by the authorities, I hold the position that stakeholders, such as private companies, enterprises, and the community, must also be involved to effectively address the issue.
Admittedly, government intervention can provide several effective solutions to this issue. The state possesses legal authority to enforce comprehensive housing regulations and allocate financial resources. If the government can monitor land use patterns, illegal construction, which is ineffective construction, leading to land waste in the long term, can be reduced. In other words, with stringent legislation, housing shortages can be decreased, making it one of the most efficient measures.
However, relying solely on authorities is not an effective solution. While government policies are essential, private-sector participation can significantly accelerate housing development through innovation and investment. To be specific, many private enterprises can also invest in housing construction and offer cost-effective building solutions. For example, with the development of Vin Group, one of the biggest enterprises in the real estate market in Viet Nam, many housing projects have been launched, cóniderably reducing housing shortages.
In conclusion, I firmly believe that the combined efforts of the government and other sectors play a crucial role in addressing this issue. This is because, though the government can implement regulations and massive public budgets, private cooperation can also construct affordable buildings.