We often think that housing policy requires improving poor households' access to finance and pooling community resources. The history of Singapore's universal housing program suggests that housing supply can only be sustainably increased when it is matched by aggressive macroeconomic policies that forcefully shift consumer demand towards the housing sector.
More vehicles, more trips, more people -- but gridlock remains a rarity. What gives?
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Singapore's approach is broader. Instead of supporting housing supply with new financial instruments, it balances it against aggressive policies to boost demand.
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The Global Urbanist is an online magazine reviewing urban affairs and urban development issues in cities throughout the developed and developing world.
Its readers are drawn from the urban policy and international development sectors, and include urban planners, officers in local, national or international government agencies, civil society leaders, and researchers.
