Habitat for Humanity: Housing Costs Force Cuts to Necessities
A new global research report from Habitat for Humanity reveals that housing expenses are forcing a significant portion of the world's population to cut back on essential needs like food to afford shelter.
Housing costs worldwide are compelling millions to make difficult trade-offs, impacting their ability to meet basic needs, according to a new global research report.
The study, released by Habitat for Humanity International, indicates that three out of every four individuals are reducing spending on necessities, including food, to afford their housing. This trend highlights a widespread affordability crisis affecting numerous households globally.
The report, which gathered data from various countries, found that high housing expenditures represent a significant financial burden. Many households dedicate over 30 percent of their income to housing, leaving less available for other essential expenditures.
"People around the world face immense challenges in accessing affordable housing," stated Jonathan Reckford, CEO of Habitat for Humanity, in the release. "This report confirms that housing insecurity is not just a U.S. issue, but a global crisis demanding urgent solutions."
The report concludes by emphasizing the need for increased supply of affordable housing options and policy interventions to support housing security and alleviate the financial strain of housing expenses.