NEWS: “The Global Housing Crisis Pathways to Action”, report highlights affordability constraints, pervasive informality, increasing climate-related risks, etc.,

KEY HIGHLIGHTS OF THE REPORT

Global Housing Crisis

•        Around 3.4 billion people lack adequate housing globally

•        Housing challenges are interconnected:

•        Affordability issues

•        Informal settlements

•        Climate vulnerability

•        Weak governance

India’s Situation

•        Homelessness rate in India → 13 per 10,000 people

•        Mumbai & Delhi among highly unaffordable cities:

•        Mumbai → Price-to-income ratio: 14.3

•        Delhi → 10.1

Climate Concerns

•        Climate hazards may destroy 167 million homes by 2040

•        Housing sector contributes 17–21% of global emissions

Housing Affordability Crisis

•        Global house price-to-income ratio increased:

•        2010 → 9.5

•        2023 → 11.7

KEY RECOMMENDATIONS

Affordable Housing Strategies

•        Strengthen land governance

•        Expand rental + non-market housing

•        Simplify regulatory approvals

Inclusive Housing Finance

Focus on:

•        Low-income groups

•        Informal workers

•        Female-headed households

Climate-Resilient Housing

•        Promote sustainable housing models

•        Prevent:

o   Green gentrification

o   Green grabbing

INDIA’S MEASURES TO ADDRESS HOUSING CRISIS

PMAY-U 2.0

•        “Housing for All” Mission

•        Targets 1 crore additional urban beneficiaries over 5 years

Judicial Support

•        Olga Tellis Case (1985):

•        SC linked housing + livelihood with Article 21 (Right to Life)

Best Practices

•        Yerwada Project (Pune) → Climate-resilient construction

•        Bhubaneswar Affordable Housing Project → Successful PPP model