‘Affordability crisis’: How the Western housing crisis spiralled
Summary
In 2026, many Western countries face a serious housing affordability problem, with rising rents and home prices outpacing wages. Governments in the UK, Europe, and the US are introducing new laws and plans to increase affordable housing and protect renters.Key Facts
- England and Wales started a new renters’ law on May 1, ending “no-fault” evictions.
- The European Commission and Parliament are focusing on making housing more affordable.
- The US Senate passed a bipartisan bill to reduce building barriers and increase affordable homes.
- Housing costs have been rising faster than incomes in many cities like London, Berlin, Toronto, and Sydney.
- Housing is considered unaffordable when it costs more than 30-40% of household income.
- Governments and experts debate whether housing should be a basic need or treated as an investment.
- Some Western countries reduced public spending on social housing since the late 1970s and 1980s, making the crisis worse.
- The Netherlands plans to build 100,000 new homes yearly to address the problem.
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