13 June 2023
The OECD Champion Mayors for Inclusive Growth gathered today for their sixth meeting at the Brussels Urban Summit. With OECD Secretary-General Mathias Cormann, they endorsed the “Brussels Blueprint for Affordable Cities and Housing for All,” to ease short-term pressures on the cost of living and to ramp up action on housing.
Double-digit inflation across the OECD has disproportionately affected low-income households, deepening pre-existing inequalities. The urban poor, as well as the squeezed middle class, were already struggling to keep up with soaring rents and house prices prior to the cost-of-living crisis. Real house prices rose by 77% between 1996 and 2022 in OECD countries, with the most severe pressures in cities. In 2021, a house in an urban area was around 50% more expensive than one in a remote region.