Dear Editor,

In today’s housing market, the term “realty” has increasingly come to resemble “exploitation”.

What was once an avenue for building family security and community life has devolved into a profit-hungry industry that prioritises investors over residents and speculation over shelter. Housing, an essential human need, is now a battleground where working-class families and young adults stand little chance against skyrocketing costs, crumbling conditions, and unchecked greed.

Across many regions, the housing market is in crisis. Rents are rising at a faster rate than incomes, and the cost of purchasing a home has become virtually unattainable for younger generations. In many cities, the idea of a young adult in their 20s, or even 30s, buying a home is more fantasy than future plan. While older generations were often able to secure a mortgage after a few years of saving, today’s youth face soaring prices, burdensome student debt, and stagnant wages.

This generational disparity is not accidental; it is systemic. What makes the situation more outrageous is the quality of housing being offered for these exorbitant prices. In too many cases, young people and low-income families are forced into substandard units that are poorly maintained, overcrowded, and sometimes outright unsafe. Yet they are charged premium prices for these minimal offerings. The exploitation is twofold: financial and physical.

These units are often managed by absentee landlords or corporate entities whose only interest is maximising profit margins. Basic maintenance goes ignored, and tenants are left to fight for their right to live with dignity. Mould, faulty wiring, pest infestations, and deteriorating infrastructure are common issues, none of which are reflected in the lease agreements, but all of which are deeply felt by those who live there.

The housing market is not just difficult; it is hostile. Youth, particularly first-time buyers, are increasingly priced out of their own communities. Even rental markets have become nearly impossible to enter without co-signers, multiple room-mates, or excessive initial deposits. This has broader social consequences: young people are delaying or forgoing life milestones, like marriage, children, and homeownership, simply because the cost of living is so disproportionately high.

Meanwhile, the housing stock is being swallowed up by developers and real estate investors who flip properties for quick gains or leave units vacant while they appreciate in value. This artificially inflates housing prices and removes affordable options from the market entirely.

The need for urgent government intervention cannot be overstated. When market forces are allowed to run wild, the result is exactly what we see today, profit for a few and pain for the many. There must be comprehensive, enforceable regulation to bring equity back into the housing system.

Key areas for intervention include:

• Rent control and stabilisation: To prevent landlords from exploiting tenants with sudden, dramatic rent increases

• Vacancy taxes and penalties: To discourage speculative investors from hoarding empty properties while people sleep on the streets

• Incentives for affordable housing development: To encourage builders to create homes for people, not just portfolios

• Enforcement of building codes: To ensure that housing is not just available, but safe and liveable

• Subsidies and grants for first-time buyers: Especially for young people and low-to-middle-income earners to level the playing field

Housing is not a privilege; it is a right. When we treat it as a luxury commodity, we erode the fabric of society. If the current trajectory continues, we risk creating a permanent underclass of renters trapped in a cycle of poverty, unable to ever attain the security and dignity that stable housing provides.

This is not just an economic issue; it is a moral one. The time has come for governments at all levels to step in, not with lip service, but with bold policies and enforceable protections that prioritise people over profit. In the battle between realty and exploitation, we must decide whose side we’re on.

Let us choose justice. Let us choose equity. Let us choose a future in which everyone, regardless of age or income, has a place to call home.

Leroy Fearon Jr

Lecturer

leroyfearon85@gmail.com