World Economic Forum Why housing affordability is ‘tragically bad’ - and what’s needed to fix it: Habitat for Humanity CEO
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Jan 10, 2025 
Jonathan Reckford, CEO of Habitat for Humanity International, dives into the critical issue of housing affordability, articulating its dire state and the barriers to accessing homes globally. He emphasizes the need for collaboration across sectors to create mixed-income communities. Reckford shares inspiring insights from his diverse career, including his unexpected transition from law to finance and his experience coaching the South Korean Olympic rowing team. He reflects on impactful leadership lessons learned from mentors, including former President Jimmy Carter.
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Global Housing Crisis
- The state of global housing affordability is "tragically bad," with a shortage of over a billion units globally.
- In the U.S., the gap between what families can afford and housing costs is the widest in modern history.
Drivers of Housing Unaffordability
- The 2008 housing crisis, increased demand, supply chain disruptions, and treating housing as a financial asset led to unaffordability.
- Small builders going out of business and not being recapitalized contributed to underbuilding for 12 years.
Consequences of Unaffordable Housing
- Lack of affordable housing negatively impacts communities, worsening health and education.
- It also creates economic segregation and hiring difficulties for employers.