Housing Costs Are Forcing People to Cut Spending on Food and Healthcare

A recent study, "A Home, But at What Cost?" by Habitat for Humanity, reveals that housing expenses are forcing many people to cut spending on essential items like food and healthcare. Across 22 countries, 75% of the 30,758 surveyed individuals said they had reduced at least one expense to cover housing costs during the past year.

The burden is particularly heavy for those living in informal conditions and lower-income households, where 89% and 84% respectively reduced expenses compared to the global average of 75%. One in four people even delayed or avoided medical care. The study's findings indicate that the challenges persist even after securing housing.

Forty-eight percent of respondents fear an unexpected setback could jeopardize their housing stability, with this figure rising to 68% among those in informal arrangements. Additionally, 40% of people globally accept some level of housing-related risk due to the lack of safer alternatives. In Latin American and Caribbean countries, 74% believe many live in unsafe housing, with 61% of those in informal settlements facing similar concerns.

Protection against extreme weather events also emerges as a significant concern, with 18% of respondents in the region stating their homes are insufficiently safeguarded against phenomena like heat, cold, or flooding. In Mexico and Barbados, 31% and 23% respectively prioritize weather protection over other housing improvements. The research underscores that housing decisions extend beyond financial considerations, impacting personal and family planning.

Fifty-six percent of respondents say housing costs hinder their ability to start a family, particularly among younger generations (62% among Gen Z and Millennials). Parents also express concern, with 58% fearing that housing expenses are limiting their children's opportunities.