Operators blame greed for decline in housing sector

Bisola David
Bisola David

Real estate professionals have blamed greed for the decadence in the country’s real estate market.

The Punch reported that the chief executive officer of Land Republic, Victor Adegbile, stated that developers needed to adopt a value system that prioritized people before money.

According to him, a nation cannot stand if it prioritizes financial gain over the security and well-being of its human resources. Additionally, this affects all economic sectors. Natural catastrophes are another aspect that may contribute to building failures.

To better understand the reasons and stop recurrences, it is crucial to analyze each collapse’s unique circumstances in detail. The largest financial and real estate center in the country can be stated to be in Lagos.

“We must stop keeping track of building collapse incidents because they have a detrimental effect on the state of our infrastructure and real estate.

“Any agency that takes bribes rather than upholding the law and maintaining order must be aware that it is contributing to environmental deterioration. Short-term profits for individuals cannot take precedence over long-term environmental sustainability.”

Adegbile claimed that this could lead to the extinction of our natural habitats, pollution, and other environmental issues that could be detrimental to human health and welfare.

In a similar vein, a real estate expert, Mercy Okeke, claimed that one factor that had permeated the structure of the country deeply was greed.

She noted that the impact cut across most industries, not only the real estate sector.

“It is just unfortunate that some of these persons in position to represent us (the masses) lack love for others,” she remarked.

“Selfishness has stolen the willingness to use one’s position and influence for the benefit of others and to relieve poverty. This explains why there have been reports of financial mismanagement and siphoning at several entities. Just sitting in some people’s accounts is money that could construct a whole country. It is a shame, really.”

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