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London overtakes Hong Kong as city with highest rent: Should governments of the world's biggest cities take measures to bring down the cost of housing?

London overtakes Hong Kong as city with highest rent: Should governments of the world's biggest cities take measures to bring down the cost of housing?
  • Governments have a duty to provide affordable rental costs

    Governments should be taking a lead across the world in reducing rental costs and providing a consistent and reliable source of affordable housing for those who live and work in the cities. It is impossible for workers on an average salary to afford reasonable and decent accommodation in the biggest cities and therefore it is in the government's interests to reduce housing costs in order to attract workers to cities.

  • Government should not be involved determining housing costs

    Government should not be involved in setting the cost of housing in any city. This is something that should just be allowed to play out in the free market. If rents are too high, domiciles will remain vacant and landlords will be forced to adjust their rents accordingly.Too much government intervention is a bad thing.

  • Governments shouldn't take measures.

    Governments should not take measures to bring down the cost of housing because the cost of housing. Yes, the governments do determine the cost of living, but they do not control the housing market. Even though the governments do have the power to intervene, they don't have the time to change the markets. Finally, the governments should not take measures to bring down the cost of housing.

  • Cost of housing as economic indicator

    The rise in cost of housing usually means that the city in question is facing a rise in demand. This usually also means that more people are moving into that city. Government should pass laws to prevent the arbitrary rise in cost of housing but measures to bring down that cost is detrimental to the laws of supply and demand in the housing business.


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