Skip to main content

Finding equitable access to housing as a shaky global housing market slides

By Jackie Edwards 
Property is a key facet of most economies, developed or otherwise, and the fortunes of a national housing market can be a key indicator as to wider GDP growth and economic health. It is with some trepidation, then, that economic analysts are predicting a 6% drop in global housing market value; one Goldman Sachs analysis is estimating a house price index drop will continue to hit countries worldwide, including the most developed countries. 
While this may seem like a potential positive, with homes becoming more affordable and rents reducing, it is rare that these savings are passed on to tenants. As such, it has become important for private tenants to explore new routes towards securing housing.

Facing the challenge

The current rental market being offered to those without their own home is one that requires a lot of effort to harness properly. The base level of accommodation out there is not of a good standard. UN reports suggest that up to 1.6 billion people globally are living in inadequate housing. There are, typically, better rates of adequacy in housing in highly developed countries. Indeed, the support networks available in more developed countries, where landlords and estate agents can help to link would-be tenants up with suitable properties and provide advisories on how to best ensure their needs are met. This is especially important within households where adaptations are needed to ensure accessibility to accommodation.
More needs to be done on a wider level, however. An assessment conducted by the US Department of Housing in respect of their housing market, one of the world’s most advanced real estate markets, produced worrying results. A majority of properties in the USA are not accessible to people living with disabilities, and require major overhauls to even be somewhat applicable to families with accessibility needs. The picture is not much better in other countries, and it is something that modern renters need to look out for.

Addressing rising costs

Despite the downturn in house prices and the observed impact that will have on the economy, there hasn’t been a linked reduction in rent prices. According to the Financial Times, apartment prices have spiked 18% globally since 2022, and previously affordable or unattractive areas in major cities are now becoming out of reach for most people. When considering that salaries have remained static in many countries, and inflation has pushed back the earning power of those people, this obviously puts a huge strain on renters.
There are some options on the way. In Europe, rent controls have been brought into place across multiple countries, though this has been seen as a controversial measure. To that end, the UK has rolled back their own promises, except in London. Elsewhere, social housing is being expanded rapidly in many developing countries, and some countries have broadened their view of who should qualify for income and rent support.

Looking to purchase

For those who are looking to purchase a home, the situation is a little friendlier, at least according to Reuters. The global outlook is brightening, according to the news outlet, with the reducing cost of housing making new buyers see an affordable situation. However, interest rates are impacting this.
Several financial analysts have noted a total, global, aggregate increase in interest rates. The biggest increases are being felt in the USA and UK as they seek to push back the impact of inflation; however, indications are that this will continue to push prices higher. As such, for those looking to get on the housing ladder via a mortgage, the situation isn’t quite as pretty. Moving into a fixed-rate mortgage at this point in time is likely to attract huge monthly payments; staying on a long-term variable rate is far from certain to be affordable.

Facing homelessness

As a result of these factors, homelessness is increasing. According to DevelopmentAid, while statistics are hard to track, studies suggest that the overall global homelessness rate will continue to rise. This includes street homelessness, or destitution, and other forms of homelessness, such as sofa surfing and sleeping in vehicles.
This, of course, creates a significant burden on state authorities. Most nations will have a commitment to providing support and housing for the greatest number of people, whether that’s through income support to maintain their housing or providing accommodation in itself to keep people off the streets. This will only exacerbate the housing situation. Arguably, action is needed today to head these issues off at the pass.

Addressing underlying issues

The key underlying issue that is impacting the housing market, and increasing both mortgage and rent prices, is the fragility of the global economy. It relies far too much upon the real estate market, it uses those house prices and assets as fodder for financial growth, and it has failed to change despite the two crises of 2008 and 2022. While these systems remain in place, it is hard to see how there can be a gigantic change in fortunes that will improve the global system.
For those looking to find affordable housing, however, there are options. The key principle is to look for progressive and forward-thinking providers who can help to find adequate housing, and help to link in with the relevant benefit providers. Mortgages are harder to get a clear view on, and it may be worth seeing if the current economic tumult will pass before committing.

Comments

TRENDING

राजस्थान, मध्यप्रदेश, पश्चिम बंगाल, झारखंड और केरल फिसड्डी: जल जीवन मिशन के लक्ष्य को पाने समन्वित प्रयास जरूरी

- राज कुमार सिन्हा*  जल संसाधन से जुड़ी स्थायी समिति ने वर्तमान लोकसभा सत्र में पेश रिपोर्ट में बताया है कि "नल से जल" मिशन में राजस्थान, मध्यप्रदेश, पश्चिम बंगाल, झारखंड और केरल फिसड्डी साबित हुए हैं। जबकि देश के 11 राज्यों में शत-प्रतिशत ग्रामीणों को नल से जल आपूर्ति शुरू कर दी गई है। रिपोर्ट में समिति ने केंद्र सरकार को सिफारिश की है कि मिशन पुरा करने में राज्य सरकारों की समस्याओं पर गौर किया जाए। 

'A tribal lifeline': Health rights group asks Gujarat governor to halt Vyara govt hospital privatization

By A Representative  In a strong appeal to the Governor of Gujarat, the National Health Rights Alliance (NHRA)—an initiative of the National Alliance of People's Movements (NAPM)—has urged the state to halt the ongoing move to privatize the Vyara Government Hospital and Medical College in Tapi district. 

Old bias, new excuses: How western media misrepresents India’s anti-terror strikes

By Gajanan Khergamker  The recent Indian military strikes on Pakistan, dubbed Operation Sindoor, have sparked a storm of international media coverage. Several prominent outlets have portrayed India as the aggressor in the escalating conflict, raising concerns over biased reporting. This commentary critiques coverage by foreign media outlets such as The New York Times , Reuters, BBC, and CNN, which have often been accused of framing India’s actions as escalatory while downplaying or omitting critical context regarding Pakistan’s role in fostering terrorism. By examining historical patterns and current geopolitical dynamics, this analysis highlights the recurring selective framing, omission of evidence, and a tendency to favor narratives aligned with Western geopolitical interests over factual nuance.

Censor Board's bullying delays 'Phule': A blow to India's democratic spirit

By Vidya Bhushan Rawat*  A film based on the life and legacy of Jyotiba Phule and Savitribai Phule was expected to release today. Instead, its release has been pushed to the last week of April. The reason? Protests by self-proclaimed guardians of caste pride—certain Brahmin groups—and forced edits demanded by a thoroughly discredited Censor Board.

CASR urges immediate halt to Operation Kagaar, calls for peace talks with Maoists

By A Representative   The Campaign Against State Repression (CASR), a collective of over 40 civil society organizations, has issued a press statement demanding an immediate end to "Operation Kagaar" and alleged state-led killings of Maoist rebels and indigenous people in central India. The group also called on the central government to create a conducive environment for initiating peace talks with the banned Communist Party of India (Maoist).

जैविक जीवित संसाधनों व प्रकृति पर निर्भर मजदूरों की व्यापक आर्थिक सुरक्षा कैसे हो?

- राज कुमार सिन्हा*  भारत में  60 करोड़ से अधिक लोग भूमि, जल, जंगल और समुद्र जैसे प्राकृतिक स्रोतों पर निर्भर हैं । देश में 14.6 करोड़ छोटे और सीमांत किसान, 14.4 करोड़ खेतिहर मजदूर ( बड़ी संख्या में दलित हैं), 27.5 करोड़ वन निवासी, 2.8 करोड़ मछुआरे, 1.3 करोड़ पशुपालक और 1.7 करोड़ कारीगर हैं जो सीधे तौर पर  प्रकृति के साथ और प्रकृति के भरोसे काम कर रहे हैं । लगभग 6 करोड़ मौसमी मजदूर हैं जो काम के सिलसिले में लगातार अपने गांव से बाहर जाते हैं और लौटते हैं। प्रकृति निर्भर समुदायों की आर्थिक गतिविधियां जो बड़े पैमाने पर जीवन निर्वाह और छोटी आय के लिए है। वर्तमान आर्थिक नीतियों के कारण, जो कॉर्पोरेट्स और बड़े व्यवसायों का समर्थन करती है, प्रकृति निर्भर समुदाय के लिए अव्यवहारिक होती जा रही है। 

Naveen Gautam creates history, becomes first Dalit youth to moderate session at UN

By A Representative  In a historic moment for Communities Discriminated on Work and Descent, Mr. Naveen Gautam of the Global Forum of Communities Discriminated on Work and Descent (GFoD) became the first Dalit youth to moderate a session at any United Nations forum.

Kashmiriyat lives: Beyond the prime-time lies

By Rimmi Vaghela  I am Rimmi from Ahmedabad. I contemplated this blog on April 27, 2025 in Jammu, when my plans of revisiting the paradise called Kashmir were shattered—not by fear, but by circumstances and sorrow. I decided to share my story with a heavy heart, hoping it reaches those who still believe in the warmth of humanity over the divisive noise of prime-time media.

In the fury of war, humanity succumbs to the illusion of nationalism

By Dr. Mansee Bal Bhargava*    On May 7, Rabindranath Tagore Jayanti—also known as Rabindra Jayanti or Poncheeshe Boishakh in Kolkata—we celebrated the birth anniversary of the renowned poet, writer, philosopher, reformer, and Nobel laureate. On this occasion, I draw attention to Tagore’s timeless quotes, which resonate profoundly today, perhaps more than ever, as we live in a time when the ruling government has pushed the nation toward war.  

Choice of the word 'Sindoor' in India's anti-terror operation: Symbolic feminism or patriarchal strategy?

By Dr. Mansee Bal Bhargava*  In the aftermath of a war and subsequent ceasefire in 2025, Operation Sindoor has emerged as a focal point of national discourse, not only for its military objectives but also for its symbolic framing. The operation, named after a traditional marker of Hindu marital identity, and the prominent roles of Colonel Sofiya Qureshi of the Indian Army and Wing Commander Vyomika Singh of the Indian Air Force in its media briefings, have been widely celebrated as a step toward gender inclusivity.