The root cause of the global housing crisis is housing mismatch rather than shortage

The global housing crisis stems from imbalances in supply and demand rather than housing shortages. Uneven distribution and inefficient policies have exacerbated economic instability. Countries such as the United States, Japan and Italy face vacant properties and homelessness, highlighting issues of geographical location and housing affordability rather than quantity. Politicians’ focus on quantitative goals often ignores land use rights and zoning planning, so value-oriented reforms, such as fill-in development and transportation integration planning, are needed to address systemic challenges.