Enormous pent-up demand for adequate and affordable housing exists in the world today. The United Nations Center for Human Settlements-Habitat (UNCHS Habitat) has estimated that 1.1 billion of the world’s 3.5 billion urban dwellers are living in inadequate housing conditions (1999). This translates to more than 31% of the world population living in inadequate housing conditions in urban areas alone. If rural areas are included it is speculated the number could very well be twice as high (Magowan, 2008). Data suggests the problem is only becoming greater. A severe imbalance of supply and demand for housing has made overcrowding, inadequate shelter, and homelessness commonplace in many regions of the world. Rapid population growth in emerging countries combined with urbanization has escalated the density of numerous cities intensifying the shortage of housing and basic infrastructure leading to growth in the number of slums, slum dwellers, and informal settlements. Yet at the same time many emerging nations are experiencing economic expansion, increase in the overall money supply, and growth in consumer spending for basic necessities such as housing. However, a number of issues and bottlenecks hinder the flow of capital to the housing deficit. It is imperative that action be taken to stimulate affordable housing solutions for low-income and poor populations in the developing world. The enormity of the issue calls for expediency, focus, determination, resourcefulness, and ongoing evaluation for the strategy to be successful. Several strategic actions must be accomplished over the next five to ten years in order to effectuate the development of affordable housing solutions. Overcoming these challenges will entail solutions adapted to the context of the local region. While different regions of the world and individual markets suffer challenges unique to themselves, at the same time the struggles are common to every marketplace and locality. The implication of this reality is that the difficulties, failures, and successes of one carry lessons for all and can form the basis for creating a strategic plan of action. With this in mind, we will draw on various examples throughout the world to propose solutions for overcoming these challenges fitted to the context of the local region.