Naimur Rahman Rizvi

The phrase "housing crisis" has dominated headlines and conversations for years, yet the crisis itself has shown little sign of abating. Home prices continue to soar in many parts of the world, rent takes up an ever-greater portion of people’s incomes, and affordable housing remains out of reach for millions. However, the housing crisis is about more than just numbers. It reflects a deeper question about our collective priorities and whether we value sustainable, affordable housing as an essential right.

At its core, this crisis stems from a chronic lack of affordable housing stock. In cities around the world, building has often focused on high-end developments that yield higher returns for investors rather than affordable units that meet the needs of low and middle income families. This mismatch between housing supply and demand, compounded by economic policies that incentivize real estate speculation, has led to an overheated market that rewards profit over accessibility. As a result, lower-income and even middle-class families are frequently priced out of the places they call home.

Many governments have acknowledged the need for more affordable housing, but policies are often slow to take effect. Rent control, subsidies, and public housing are sometimes discussed as solutions, but these measures alone cannot meet the scale of demand. Building more homes tailored to various income levels should be part of the solution, yet zoning laws and regulatory obstacles can make it difficult to bring affordable projects to life. NIMBYISM ("Not In My Backyard") attitudes from wealthier neighborhoods also play a role, as residents often resist affordable housing developments, fearing impacts on property values or community demographics.

Meanwhile, income inequality and stagnant wages have only exacerbated the problem. While housing costs have skyrocketed, many people’s earnings have failed to keep pace. For individuals and families living paycheck-to-paycheck, even small increases in rent or housing costs can push them toward financial instability, with little or no safety net to catch them.

The question, then, arises— Are we truly facing a housing crisis, or a crisis of priorities? Housing is one of our most fundamental needs, yet it is often treated as a commodity first and a necessity second. Solving the affordable housing crisis will require shifting our perspective and reshaping our priorities. Governments and developers must work together to prioritize affordable housing in meaningful ways, and society must recognize housing as a human right rather than a privilege for the few who can afford it.

Solving this issue will not be easy, but it is possible. Policies could be reoriented toward incentivizing affordable housing development, with local and national governments providing grants or tax benefits to developers who include affordable units in their projects. Additionally, more protections for renters, like caps on rent increases and improved tenant rights, could prevent vulnerable populations from being forced out of their homes.

Addressing the housing crisis will require both systemic change and a shift in how we view housing itself—as a right, not merely an investment. Only by prioritizing the needs of our communities can we hope to make affordable housing a reality for everyone.

The writer is a graduate from Public Administration at Comilla University.