The problem is political and starting at the ideological level. In other words, it is about priorities when it comes to the allocation of resources.
To my understanding, we have been living under a neoliberal capitalist system where gradually housing has been left to the market to provide under the premise that it would have been the most efficient way to do it with very little or no scope for government intervention.
A model that when it fails to deliver tends to place the blame in too much government intervention, red tape, local government politicking, immigration levels, etc.
A model that according to some is "dominated by diverse forms of rentiership — for example home ownership, intellectual property monopolies and market control. According to British academic Guy Standing, rentiership can be defined as the extraction of income from the “ownership, possession or control ofassets that are scarce or artificially made scarce.”
What then is the solution? Well, in my view some form of strong dirigisme "an economic doctrine in which the state plays a strong directive role as opposed to a merely regulatory or non-interventionist role over a capitalist market economy1. It is also known as economic planning and control by the state."
There is a country in southeast Asia that whenever I go there, I cannot stop to admire. It is called Singapore.
"As of 2020, 78.7% of Singapore residents live in public housing, down from a high of 88.0% in 2000. [1] History. Under the Singapore Improvement Trust. Early forms of private housing built by the SIT in Tiong Bahru in the 1950s."
"The economy of Singapore is a highly developed mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as the most open in the world, the joint 4th-least corrupt, and the most pro-business. Singapore has low tax-rates[28] and the highest per-capita GDP in the world in terms of purchasing power parity (PPP). The Asia-Pacific Economic Cooperation (APEC) is headquartered in Singapore. Alongside the business-friendly reputation for global and local privately held companies and public companies, various national state-owned enterprises play a substantial role in Singapore's economy.
"Singapore's economy is often referred to as a "miracle" due to its rapid transformation from a developing country to a developed, high-income economy in a relatively short period of time.'
