Titled “The Global Housing Crisis Pathways to Action”, report highlights affordability constraints, pervasive informality, increasing climate-related risks, etc., as interlinked and mutually reinforcing challenges.
Key Highlights of the Report
- Housing Crisis: Up to 3.4 billion people worldwide lack access to adequate housing.
- Homelessness rate for India stand at 13 per 10,000 as per Institute of Global Homelessness.
- Climate-related hazards: Projected to destroy 167 million homes by 2040.
- Housing alone is responsible for an estimated 17- 21% of total emissions.
- Ineffective National Housing Policies: Fail to fully incorporate key dimensions of adequacy like affordability, tenure security, accessibility, etc.
- Housing Prices: Average price-to-income ratios increasing from 9.5 in 2010 to 11.7 in 2023 globally.
- India’s Mumbai and Delhi record price-to-income ratios of 14.3 and 10.1.
Key Recommendations
- Comprehensive Affordability Strategies: Strengthening land governance, expanding rental and non-market housing options, streamlining regulatory processes, etc.
- Affordable housing finance: Prioritize vulnerable and low‑income groups, including informal workers, female‑headed households.
- Climate-resilient housing policies: Prevent exclusionary outcomes like green gentrification and green grabbing.
Measures Towards Addressing Housing Crisis in India
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