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housing crisis in EU (thelemmy.club)
submitted 1 week ago by to c/politicalmemes@lemmy.ca
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[–] 1 point 1 week ago (3 children)

In my country housing supply still hasn't recovered from 2008 while population increased. So it is supply&demand thing like all the economists are saying. Is there any eurostat statistics for housing developmemt across EU?

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  • [–] 4 points 1 week ago* (last edited 1 week ago) (2 children)

    I'm very suspicious of this line. The whole Western-world has the same issue: a housing crisis. It's more likely a minority are buying everything and leaving houses empty to jack up rents using computer systems. In Australia the real estate agents all use the same system. It's a software monopoly controlling the whole market. Australia, Canada, USA, europe? All have a housing crisis? Really? Meanwhile China... just fucking build commie blocks.

    Same story everywhere. Here in Australia there's more than enough empty houses to house our growing homeless population. Housing is a human right.

    I just want to state: it's a fact asset classes have been over inflated over the decades as a result of asinine monetary policy. This is a disaster. Governments have failed their citizens.

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  • [–] 1 point 1 week ago (1 child)

    It for sure doesn't happen here. Buyers are individuals, and not much is sitting empty. It would also be pretty stupid thing to do. Right now housing is so expensive that it makes no economic sense to buy and rent out, because rents at least have a cap in form of people's salaries.

    In 2008 whole west had a banking crisis which involved real estate. In my country we had 10 years of underinvestment while population grew due to immigration. Pandemic low interest rates shot everything up. Now we are here. I would rather call this incompetence of those at the helm.

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  • [–] 4 points 1 week ago*

    With software let me phrase it this way: ebay increased the prices of goods domestically because anyone could search up the 'value' of an item in a global context. This resulted in sellers demanding ridiculous prices locally. Yes, an American using USD might buy that from you at that price, but no local will. They're not even listing the item for sale on ebay, just using it as a tool to price. Sellers are all independent, but ebay had a large effect on all those independent sellers. The real estate agencies are likewise being pushed to increase rents in a similar phenomenon.

    In Australia it's often parroted that 1/3rd own a house, 1/3rd have a mortgage and 1/3rd rent. The mortgaged property didn't magically appear. The rental property has an owner. that's 1/3rd that controls the 2/3rds. A minority owns the land and jacks up prices for the majority. Yes, there's limits on what a market can bear. We're there. That's why it's termed a housing crisis. The homeless population is increasing. The pool of renters is increasing.

    It's not incompetence in the Australian context either. It's literally been in the making for decades. Everyone knew what the results would be. It was deliberate. It continues to be deliberate. A minority are getting very wealthy off the backs of the working class.

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