In many major cities, housing costs have risen rapidly due to population growth, urbanisation, and limited new development. Economists broadly agree that two leading strategies can reduce housing costs:
Supply-side solutions aim to increase the total number of housing units, primarily through zoning reform, easing building restrictions, and incentivising private development.
Demand-side and redistributive solutions aim to help individuals afford housing through government interventions such as rent control, public/social housing, rental subsidies, or taxes on vacant homes.
While both approaches can coexist, governments often have limited resources and must prioritise one approach in both funding and political capital.