Rafael Tuts: Efficient housing systems reduce inequality and stimulate growth

When effectively implemented, housing systems can stimulate economic growth and reduce inequality, Rafael Tuts, director of the Global Solutions Division of the United Nations Human Settlements Programme (UN-Habitat), said at an event during WUF13 in Baku, Report informs.

He noted that when poorly functioning, housing systems, on the contrary, become a source of exclusion and exacerbate social inequality in cities: "The housing sector accounts for 15% to 18% of global GDP. It supports a significant number of jobs and economic activity in construction, real estate services, and finance. However, this sector also shapes life outcomes: health, well-being, access to education, and more."

He emphasized that today there is a growing gap between the economic benefits of the housing sector and the social outcomes of housing provision: "This is a picture all too familiar to us – growth without equality and justice."