The United Nations World Cities Report 2026: The Global Housing Crisis: Pathways to Action may lay claim to be the most important housing report ever produced. It finds that the scale of global housing inadequacy affects around 42 percent of humanity. This has never previously been measured.
Approximately 3.4 billion of the world’s 8 billion population lack access to secure, safe, and adequate housing. Housing inadequacy encompasses insecure tenure, overcrowding, exposure to environmental hazards and a lack of access to basic services such as water, sanitation, power and waste collection. More than 1.1 billion people live in informal settlements and slums, the highest number ever, up from 201 million in 2010.
UN-Habitat describes the crisis as driven by rising housing costs, limited supply, widespread displacement, inadequate grading of existing homes and informal settlements and the growing impact of climate change.
Housing should not be a for-profit enterprise.
I mean, I like land value taxes. Don't let people speculate on the value of land.
But creating housing isnt like creating, say, a certain grade of steel. Housing has innumerable factors which determine if it is preferrable to some other housing for any given person. Location, size, architectural style, etc. It is not a commodity, and is exactly the sort of good that markets are well-equipped to provide to people. One person wants to live in an ornate, whimsical log house in the forest, while another wants to live in a luxury studio apartment downtown. And the architects, engineers, project managers, general contractors, foundation pourers, framers, roofers, electricians, plumbers, hvac technicians, etc, all need to get paid for their work. And presuming the person who will live in the home isnt the one building it (which is almost always, and is almost inevitable when it comes to multifamily housing), then someone needs to front the cash to get it built, and they need to get paid back for the risk they took with that cash. And if it is an apartment, where people rent rather than own (which many people want to do for a variety of very valid reasons), then this requires maintenance and property management, which is also labor deserving of pay. All these people are providing goods and services of value to others and they should be paid for those goods and services, ie, they should make a profit.
Now, if you are saying "the government should provide free housing to anyone who wants it" - well, I have some questions about the implemetation, but it's a fair enough stance to take.
But if you're saying "no one should be allowed to make money on creating or maintaining housing", then I suggest you start hunting for a cave to live in
Nice strawman. Where did I say that labourers shouldn't be paid for their labour?
If you're getting paid, that is a profit. You are, by definition, creating housing for profit.
Paying workers goes under the "costs" column. Profit = revenue - costs, so profit can be zero while costs is nonzero.
If it's hard to understand, consider another similar thought that I would also espouse:
Healthcare should not be a for-profit enterprise.
Do you think that under such a system, nurses and doctors would not be paid?
Your premise seems to be that these things can only be accomplished via large corporate firms, and that everything should be accounted for according to their ledgers. But a sufficiently industrious individual could endeavor to build a house all on their own, and then sell it. Should this individual not make a profit on their labor, given that they are the owner of the firm that constructed the house?
Similarly, should doctors not be able to open private practices?
Or are you saying that the laborors should be paid, but that money lending should be banned? That investors should be unable to profit from housing or healthcare? I will say, I suppose that makes you a good christian - but a bad economist. Suppose our theoretical independent home builder wants to build handcrafted whimsical log homes in the woods. He has the skills, the market is there and untapped, it is clear his plan will work - but he needs money now to buy the land, tools, and materials to build the homes that people want to live in. I have a stack of cash sitting around, and could front him that money - but its my money, and I want to be paid for its use. Just like the independent home builder would fairly expect to pay a fee to rent a tractor to level the land, he can equally expect to pay a fee to rent my money. And if he refuses to pay such a fee (or is banned via a law against it), then I won't lend it and he will not have the funds to build the homes, so he is deprived of a job and potential buyers are deprived of their whimsical log homes.
So who exactly should not be profiting here?
I don't know how you've got the wrong end of the stick this badly.
I said:
Housing should not be a for-profit enterprise
When you hear about not-for-profit organizations, do you think that nobody is getting compensated for their labour? Don't answer, it's a rhetorical question.
Right, I understand what you are saying. What I'm saying is - that's dumb. I'm then explaining why I think it's dumb, and giving you the opportunity to contradict me.
This is how someone says they know they're wrong but don't want to admit it.