Kingsley U.N. Chikwendu,
The number of affordable homes has not risen to the expected level the country would have wanted, housing development and supply has been slow while there has been an annual increase in demand .
This situation can only make house prices increase, making it unaffordable for many in a country comprising the majority of low income earners.
Having situations when houses are becoming highly unaffordable especially for low income earners, makes them to settle for substandard and informal houses that do not guarantee maximum safety, health and security of both the occupants and the Nation at large.
Informal dwelling unit are on the increase daily in Nigeria and if left unchecked it can affect those that aim to formally own a house in the future, as they might prefer substandard and informal houses due to the cost implications of acquiring a formal house.
Making quality impacts in the housing industry goes beyond individual potentials, thoughts of having societal impacts is hugely important and leads to a fast pace fulfillment of housing objectives.
Housing problems have no one solution, but with cooperative efforts across the entire real estate industry, more opportunities can be created for many to achieve sustainable, long-term aspirations of owning their homes.
When a good number of the population have their own homes, it has many benefits for the country’s economy.
Homeowners are relieved of the burden of paying yearly or monthly or weekly rents and are more likely to invest in other areas of their lives that need development and this wealth can still be passed to their children who can still build more.
Many factors can affect the prospects for income earners to own their homes, employment opportunities are paramount to this.
This, coupled with the fact that well paid jobs are often concentrated in high-cost areas also delays home buying for many who would have loved to get their homes. Those living in non-city areas that are lucky to get such jobs still spend a significant amount on transportation and other basic domestic needs that only cities provide.
So, in this regard, the government at all levels has a lot to do to bridge this gap,. If they cannot build houses directly, they can create friendly environments, policies for the private individuals and developers to build.
Affordable houses are meant to be attainable and sustainable for all because it is a priority for the survival and growth of a human and his environment.
This is the reason the government, leaders, partners, stakeholders and community organizations in the housing industry should come together and work towards a common goal. Let ideas be shared, conversations ignited, and work together to make housing more affordable for all.