How can one achieve a stable life and secure a place to live?

The familiar idiom "Settling down and establishing a career" profoundly encapsulates the special role of housing in life. A stable place to live is not only a shelter from the elements but also a foundation for individuals to work, study, build families, and connect with society with peace of mind.

Since ancient times, our ancestors have considered having a stable place to live as a prerequisite for "making a living," that is, developing a career and stabilizing one's life. In modern society, this meaning has become even more profound with rapid urbanization, the concentration of large populations in major cities, and the ever-increasing demand for housing.

For many young people today, especially middle-income workers in large cities, owning a comfortable home conveniently located for work and daily life has almost become a "lifelong dream." However, that dream is becoming increasingly distant as housing prices continue to rise at a rate far exceeding the income of the majority of the population.

There are affordable apartments in Hanoi and Ho Chi Minh City that now cost hundreds of millions of dong per square meter. In many areas, land prices have increased many times over in just a few years. Meanwhile, workers' wages are increasing very slowly, causing the gap between income and housing prices to widen.

The Cau Giay area of ​​Hanoi, viewed from above. Photo: Hoang Ha

This is no longer just a story about the real estate market, but has become a major socio -economic issue that needs to be taken seriously. Because if the majority of workers cannot access housing, the consequences will not only be hardship in their lives but also affect the social structure, the quality of human resources, and the sustainable development of the country.

One of the main reasons for the high housing prices is the mindset of owning property as a safe and profitable asset.

In the context of other investment channels remaining volatile, real estate is often seen as a "store of value," a measure of success, and a guarantee of long-term financial security. This mindset has led to an increasing demand for buying homes not only for living but also for investment and asset accumulation. Many people own multiple houses and plots of land but do not use them, simply waiting for prices to rise so they can resell for profit. This creates a speculative cycle, driving up real estate prices far beyond their true value and the affordability of the average person.

This fact was particularly noted by General Secretary and President To Lam when he emphasized the requirement to "prevent housing from becoming a speculative asset." This viewpoint shows that the current housing issue is not only an economic matter but also relates to social equity and the nation's development orientation.

Many economists around the world have also warned about the dangers of "financializing" housing, that is, transforming housing from a basic need into a tool for investment and speculation.

Economist Joseph Stiglitz argues that when real estate is driven by speculation, house prices become detached from their actual use value, creating social inequality and the risk of economic instability. This is especially true in large cities, where land supply is limited but speculative capital flows in heavily.

In Vietnam, the practice of "speculative trading," buying and selling land quickly for profit, has driven up land prices abnormally in many localities. In numerous places, the mere announcement of urban planning, bridge construction, or road opening causes land prices to skyrocket, even though infrastructure and actual demand haven't changed proportionally. The worrying aspect is that these price increases are primarily driven by speculative expectations rather than reflecting the true value of the property. Consequently, the final buyers are often those with genuine housing needs, forced to accept excessively high prices.

The social consequences of this situation are enormous. Many young people, even with stable jobs and high qualifications, cannot afford to buy a house after years of hard work. They are forced to accept long-term rentals, living in cramped spaces or moving far from the city center to reduce costs. Many young couples postpone marriage and having children due to housing pressure. The dream of owning a home thus becomes increasingly fragile.

On many social media forums, young people often jokingly say, "Even working my whole life, I'd still struggle to buy an apartment." Behind this seemingly humorous statement lies a very real feeling of insecurity about the future.

Besides speculation, the supply of social housing and affordable housing remains severely lacking. While the demand from young workers and employees is very high, many commercial housing projects focus on the mid- and high-end segments to maximize profits. This leads to a paradox: the market has many projects, but those with genuine housing needs still find it difficult to access them.

We need to change societal perceptions about housing.

Solving this problem requires a comprehensive and long-term solution. First and foremost, we need to clearly define housing as primarily a social welfare need, not simply an investment commodity.

The government needs policies to control real estate speculation through taxes on those who own multiple properties or engage in short-term transactions, in order to curb the practice of buying and selling for profit. Many countries, such as Singapore and South Korea, have implemented high taxes on real estate speculation to ensure the market serves genuine housing needs.

In addition, there is a need to strongly develop social housing, housing for middle-income earners and young people. This cannot be solely the responsibility of businesses but must be a national development strategy.

A social housing project is under construction in Hanoi. Photo: Hong Khanh

We need preferential credit mechanisms, suitable land funds, investment procedure reforms, and long-term support policies so that workers can access affordable housing. At the same time, we must increase transparency in the real estate market, control planning information, and strictly punish price manipulation and market rigging.

More importantly, there needs to be a change in societal perceptions of housing. A healthy society cannot allow excessive property ownership to become a symbol of success while the majority of workers struggle to find affordable housing. Housing needs to be recognized for its core value: a place to live, to build a family, and to create a future.

"Having a stable home and a secure livelihood" is not only a personal aspiration but also a condition for stable and sustainable social development. If young people gradually lose hope of owning a home, not only will their personal dreams be affected, but societal trust will also be impacted. Therefore, addressing the current housing issue is not just about solving the real estate market problem, but also about ensuring social equity, stabilizing people's lives, and creating a foundation for the long-term development of the country.

Source: https://vietnamnet.vn/lam-sao-de-an-cu-lac-nghiep-2517729.html