The Role of Public Policy in Housing Affordability and Urban Development

Abstract

This paper explores the role of public policy in addressing housing affordability and its influence on urban development. Housing affordability is an ongoing concern globally, with many cities experiencing skyrocketing real estate prices, displacement of low-income residents, and growing inequality. Public policy, encompassing a wide range of regulations, incentives, and interventions, has the potential to address these challenges, enhance housing availability, and create sustainable urban environments. This paper examines key policy frameworks, their impacts, challenges, and opportunities, as well as the interplay between government initiatives and market forces. Through a comprehensive review of existing literature, case studies, and policy analysis, this paper offers insights into how public policies can shape housing affordability and guide urban development toward more equitable and sustainable outcomes.