Answer:
Housing costs are a complex issue, with numerous perspectives to consider on how to make it more affordable. Perspective One suggests that stagnating wages are a major component in the lack of affordable housing, while Perspective Two argues that innovation and building efficiency are necessary to manage costs. Perspective Three takes a different approach, suggesting that housing costs are determined by the free market. Each of these perspectives has its merits and drawbacks.
Perspective One is correct in that wages have not kept up with the cost of living, which has contributed to the difficulty many people have in finding affordable housing. This perspective does, however, fail to consider the other factors that influence housing costs. It does not take into account the cost of materials, labor, and land, as well as other factors such as taxes, regulations, and zoning laws.
Perspective Two is accurate in its belief that innovation can lead to cheaper construction costs, but it does not address the issue of wages. Building more efficient homes may reduce the cost of housing, but if people cannot afford to pay the rent, the cheaper homes will be of little use.
Perspective Three is correct in its assertion that the free market influences housing costs, but fails to take into account the other factors