Slums are a perennial eyesore in Latin America and the Caribbean. More people live in dilapidated homes in the region than in other countries with the same income level. The majority of households living in the region’s capitals cannot afford a dwelling built legally and on land with access to basic infrastructure services such as water and sanitation. The region would have to spend over $300 billion, or nearly 8 percent of its gross domestic product, to provide adequate housing for all its citizens. Governments alone cannot solve this problem, particularly if they continue to concentrate on treating the symptoms rather than the root cause. This latest edition of the IDB’s flagship publication, Development in the Americas, takes an in-depth look at the opportunities countries have to improve urban housing markets and pave the way for solutions that involve the private sector.