Problems in Housing Sector Go Beyond Supply Shortage

Latest statistics show that the number of homes in Iran is about 5% lower than the number of households. 
A significant number of housing units are in slum areas and need to be replaced, which highlight the need for boosting real-estate development; the longer this industry remains underdeveloped, the graver its shortage becomes. Therefore, the government’s goal of building one million housing units per year is a necessity. 
These remarks were made by Nasser Zakeri, an economist, in an article for the Persian daily Shargh. A translation of the text follows: 
However, the question that needs to be answered by those in charge is whether the housing problem in our economy is really to blame on the shortage of supply. Is undersupply the only cause of the rapid rise in housing prices?