Why Housing Should Be Treated as a Social Good, Not Just a Commodity

ESV Uzoagu Charles Onyebuchi

In many parts of the world today, housing is treated more as a financial asset than a fundamental human need. It is bought, sold, flipped, and speculated on often with little regard for the people who actually need a place to live. Yet, housing should not be viewed purely through the lens of profit. It should be treated as a social good essential to individual dignity, community stability, and national development.

At its core, housing is more than just shelter. It is the foundation upon which families build their lives. It determines access to education, health services, employment opportunities, and social integration. A safe, secure home is linked to better physical and mental health, improved academic performance in children, and a greater sense of social belonging. When people live in dignity, society functions better as a whole.

Unfortunately, the commodification of housing has led to a market that prioritizes returns over responsibility. In many urban centers, high-rise luxury apartments remain vacant while millions of people live in overcrowded slums or on the streets. Investors view real estate as a safe place to park capital, even if the properties remain unoccupied. This speculative approach distorts prices, widens inequality, and pushes working-class families further out of reach of decent housing.

When housing is seen solely as a commodity, it becomes subject to the same forces of supply and demand as any other tradable good. But unlike gold or stocks, housing serves a human necessity. The failure to distinguish between shelter as a right and property as a commodity lies at the heart of today’s housing crises. Left unchecked, this mindset erodes communities, fuels social unrest, and deepens economic disparities.

Governments have a key role to play in reshaping this narrative. Instead of leaving housing entirely to market forces, public policies should reflect housing as a public good. This means investing in affordable housing projects, regulating rent to protect tenants, providing subsidies for low-income earners, and supporting cooperative and non-profit housing models. In cities where such efforts have been sustained—such as Vienna or Singapore housing is more stable, inclusive, and equitable.

Treating housing as a social good also means listening to the needs of communities. Urban planning should involve residents in decision-making processes. Projects should be designed not just to maximize land value but to build neighborhoods places where people can grow, connect, and contribute. Housing solutions must also be inclusive of people with disabilities, the elderly, and marginalized populations.

Market-based solutions still have a role, but they must be balanced with social considerations. Private developers, too, have a responsibility to design with purpose creating homes, not just assets. Profit and public interest can coexist when guided by thoughtful policy and ethical practice.

Ultimately, housing is too important to be treated like any other commodity. It touches every aspect of human life and well-being. By recognizing it as a social good, we take a necessary step toward building societies that are not only richer, but also fairer and more humane.
ESV Uzoagu Charles Onyebuchi is an Abuja-based registered Estate Surveyor and Valuer.