Developer-led regeneration has "done very little" for the vast majority of Greater Manchester, a report has said.
The Alliance Manchester Business School report said it had created "islands of private affluence" and neglected services like "decent housing and transport" for the wider population.
It called for a new long-term vision.
Greater Manchester Combined Authority (GMCA) said the report was "surprising" as the authors had called for something that already exists.
The report said recently-built flats had "no connection" with local housing needs, which required family accommodation at much lower rents, and stated that while more than 11,000 private flats were being built, construction of social housing had "basically stopped".
It added that the waiting list for social housing had reached 80,000.
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