Reclaiming the Right to Housing

In modern capitalist systems, housing has shifted from a basic human need to a financialized commodity central to wealth accumulation. This transformation has worsened the housing affordability crisis and deepened social inequality, as market dynamics increasingly diverge from household income growth. This study investigates how housing policies can serve as corrective tools to counteract these market-driven inequities, examining the commodification of housing, its role in structural inequality, and policy responses in both the Global North and South. Grounded in political economy and Marxian theory, the study shows that intergenerational wealth transfer, spatial property value disparities, and market-oriented policies perpetuate housing inequality. Since the late 1970s, privatization and deregulation have weakened the state’s role in housing provision, marginalizing vulnerable groups. However, state-led interventions such as social housing, anti-speculation measures, and tenant protections offer partial remedies, though limited by fiscal and political constraints. The evolving trajectory of housing policy reflects a persistent tension between market logic and state responsibility amid rapid urbanization. The study advocates for hybrid policy frameworks that balance market functions with strengthened state capacity to ensure equitable housing access. Reframing housing as a social right, not merely an economic good, is crucial for advancing just and sustainable urban futures, particularly in developing countries.