Home Feature Housing development can reduce poverty and increase the GDP

Housing development can reduce poverty and increase the GDP

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By Naomi Gabriel

Various economic issues facing a nation can be solved through development of housing. That is, if the housing sector is given the full attention it requires, going by the massive importance it is associated with when it comes to the growth of our communities. More in essence, this is to say that the housing sector is critical to having an all-inclusive economic growth in the country. 

The development of housing impacts every aspect of an individual or a household’s livelihood. Large chunk of wages can be channeled to other priorities when decent housing is secured, living in a serene, clean environment reduces the chances of being faced with the harsh realities of natural or man-made disasters, living in a comfortable environment develops the mind for quick thinking, efficiency and effectiveness and this impacts positively on an immediate environment and the larger society. Majority of average minds that contribute nuisance to a community, check them, most came out from environments with poor living conditions. 

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Getting many out of poverty or improving their way of living can be achieved by recognizing more, the wider impact the housing sector can have in the development of lives. The response it will get, will be massive. 

The government at all levels must embrace affordable housing as a tool for driving economic development and shared growth. Although, for a larger and quick implementation, this is where the need to recognize the roles of the private sector comes in to support the planned policies of the government and for fast implementation.

There is the need for the government to explore more policies on social housing that can create more avenues for the private sector to participate and fasten the bridging of the housing deficits the country has been known with for decades. 

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Development of houses also means development of infrastructural amenities that go with it and so, there is more need for the government to invest and create more infrastructural policies that support the affordability of housing in the country.

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