A person’s happiness, lifestyle, self-esteem, and productivity may all be greatly impacted by housing, one of the most fundamental human requirements. Yet providing appropriate housing has proven to be a significant difficulty for national governments in many developing nations.
In Ghana, electioneering campaigns have consistently highlighted the critical need to create and increase housing units. Numerous programs have, thus, been created by numerous governments to address the housing shortage, yet nothing much has changed.
With an annual demand of roughly 200,000 units, Ghana’s housing shortage was over 2 million units in 2020. Also from the Ghana Statistical Service (GSS), Ghana needs to provide an excess of 100,000 housing units annually to meet the current demand. But what do these figures mean?
They mean that the population of Ghana is way beyond the number of housing units to accommodate them. This problem has caused the prices of available housing to shoot through the roof, further making it even more difficult to find affordable housing. One thing Ghanaians dread more aside from transportation fares is rent, and this is heightened in the urban settings because that is where many Ghanaians have come to live as a result of rural-urban migration.
So what then is the way out? Shall Ghanaians continue to put pressure on governments to provide affordable housing for them? Or are there affordable housing options right under our noses? Whatever the solution may be, reducing the housing deficit means that people must focus on affordability.
We need to start a savings culture and invest in any affordable housing scheme at the right time. Else prices will skyrocket and the gap between the savings and housing budget will keep on increasing.
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