Five reasons housing deficit persists in Lagos despite ongoing construction boom

A housing deficit refers to a situation where there is an insufficient supply of housing units to accommodate the population’s housing needs.

This shortage of housing can result in issues such as overcrowding, homelessness, rising property prices, and limited access to affordable and suitable housing for individuals and families.

The term is often used in discussions about urban planning, real estate, and housing policy to highlight the gap between housing demand and supply in a given area.

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