SA Housing Crisis Gets UN Boost
Conventional wisdom used to dictate that we pay taxes and government comes up with solutions to just about every pressing social problem. But as the housing crisis mushroomed it called for innovative solutions. One partnership has employed forward thinking that includes an engaging TV series… now in its second season.
In mid 2000 South African banking and development expert Soula Proxenos came up with a plan. She created a property fund that partnered with South African building developers to create affordable housing in the low income, gap housing sector.
As the country moved into its new democracy, focus was understandably placed on the huge shortage of housing for the poorest of the poor. But what about those who fell beyond this sector, and make up 30% of the population? They too want an opportunity to live a better life, in homes they can afford to own or rent, in well run urban apartment blocks or neat serviced suburbs.