Many of the world’s cities are currently facing a serious housing shortage. What are some of the reasons for this shortage, and what solutions can you suggest? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

There can be little doubt that the lack of housing space is a significant concern in many

cities

worldwide.

This

problem is attributable to rapid

urbanization

and limited funding for affordable housing

projects

but can be addressed by the

government

implementing an incentive scheme for

developers

. The underlying root of the problem is quick

urbanization

in cosmopolitan

cities

, which leads to an increase in demand for housing.

In other words

, a scarcity of land availability in those

cities

can not afford the fast spreading of urban

cities

, which results in the increase of housing prices.

This

means people who have below-average incomes do not have a chance to own a household property;

therefore

, they have no choice but to live in a slum, which is a place of social devils. Take India as a prime example, because of

urbanization

caused by overpopulation, citizens in crowded

cities

suffer from poverty and disease by living in unsanitary places. Another factor may be insufficient funding for housing

projects

in major

cities

. Despite the efforts the authorities put into

this

area, the regrettable reality is that a limited number of people can approach these

projects

because of their extravagant prices.

This

situation stems from

developers

who need to raise their housing

projects

to make as much money as possible in most

cities

in developing countries.

Consequently

, a rising price has a detrimental effect on citizens' lives when it forces them to live in an unsafe place where they can not secure a steady life and children's upbringing. To alleviate

this

issue, the

government

can incentivize

developers

to build more affordable housing. In more detail,

developers

who build

such

housing can benefit from the policies of offering tax credits or subsidies, which financially provide them more opportunities to construct these community-serving

projects

.

Additionally

,

such

incentive schemes from the

government

can provide low-interest loans to

developers

to finance the intention of building low-priced places,

thus

reducing the housing shortage in major

cities

.

Therefore

, it can be seen that the lack of adequate housing in

cities

is conducive to a fast pace of

urbanization

and a lack of affordable housing

projects

.

However

, the

government

can mitigate these situations by implementing a financial scheme as an urgent action.