South Africa faces 2.6 million home shortage

South Africa faces a severe housing crisis with a backlog of at least 2.6 million homes, impacting over 12 million people. State-subsidized housing construction has declined over the past decade, prompting a policy shift that relies on the private sector to provide affordable housing. The Banking Association of South Africa defines affordable housing as targeting households earning up to R34,400 (US$2,111) per month, but most urban residents earn far less. Vienna's social housing model is cited as offering useful lessons for addressing the shortage.