The Crisis of Affordability in Real Estate
Jun 8, 2016
Two-thirds of the world’s population is expected to live in cities by 2050, yet, as of the end of 2015, we found that housing for people in the middle of the income pyramid is unaffordable in most cities and countries that we studied. We estimated that the potential affordable housing market catered for this population segment is significant: $502 billion annually by 2020. This market is fueled by high potential monthly rents (greater than $ 1,000 in the main markets) and by creditworthy households.