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Housing crisis
An affordable housing crisis or housing crisis is either a widespread housing shortage in places where people want to live or a financial crisis in the housing market. Housing crises can contribute to homelessness and housing insecurity. They are difficult to address, because they are a complex "web of problems and dysfunctions" with many contributing factors,[1] but generally result from housing costs rising faster than household income.[2][3][4]
There is an ongoing decades-long increasing trend of cities around the world facing housing crises.[2][5] Some notable examples of financial crises in the housing market are the American subprime mortgage crisis in 2007-2008 and the Chinese property sector crisis beginning in 2020.
- ^ Menendian, Stephen (November 30, 2022). "Deconstructing the 'Housing Crisis'". Othering and Belonging Institute (UC Berkeley). Retrieved 2023-12-30.
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