It seems like it's the same story everywhere I look. Housing is the main driver of inequality and there is little change happening. We have the same problem here in Germany. I am currently living in Munich to finish my CS Master's at TUM and build a startup, and it is absolutely impossible to find anything remotely affordable. I am supported by two startup scholarships and make enough to get by, but no landlord even…
> still gets rejected either for her financial situation or because the rental contract is already set to increase 8% each year - which we simply cannot afford. And it's not just Munich. Every city in Germany has this problem. The logical step, when individuals cannot afford their own rent, companies that need workers will be providing housing to their workers. And they will be able to evict them whenever they feel l…
What broke Sweden? Real estate bust exposes big divide
211–220 of 687 posts
Re: What broke Sweden? Real estate bust exposes big divide
#212Earlier quoted context omitted.
Your GF gets rejected on a financial basis while making 75k euros? How expensive are the places she's trying to rent? > We are already looking to move to other places and created a university-wide google sheet where we compare different countries and cities around the world for those kinds of categories It seems like if you want to live anywhere that's desirable you have to pay an arm and a leg for rent, no matter wh…
Tokyo is pretty affordable. Certainly enough to have a whole range of options for €75000.
If she moved to Tokyo there's no guarantee that she would get the same offer from her new employer.
Re: What broke Sweden? Real estate bust exposes big divide
#213Earlier quoted context omitted.
I believe we are in a time where everyone is milking the 90s-20s real estate bubble and no one wants to be first to fold. Internationally, not just on a per country basis. As soon as say, French real estate collapses (or UK or USA or Germany etc), the whole rotten castle of cards will fold as well. If it doesn't you can enjoy the expensive property, but you won't be eating farmed foods, won't be in a clean environmen…
Why would it collapse? There’s insatiable demand for extreme limited property. Interest rate hikes may lower the price of property but the interest will rise proportionately. Do people really think at sone point no one will want premium property and I’ll finally get it cheap? Of course that will never happen.
Re: What broke Sweden? Real estate bust exposes big divide
#214Earlier quoted context omitted.
I'm in Vancouver working remotely for an EU/US company because I couldn't get anything here. At $100k CAD, my partner and I wouldn't be able to afford a modest upgrade to a 1 bedroom condo... anywhere in the city (from a tiny basement studio) without significantly increasing our take home. The place I just visited would require $4000/m after a 20% down payment (which I don't have). If I double my savings in the next…
Let me ask you, you live in one of the most beautiful regions on the planet, you work remote, why don't you get a place 2 hours away from the city or something like that? Nice quiet life, the beauty of the pacific northwest not even a bike ride away, cheaper to live, and you don't have to deal with the crackheads. What keeps you in the city?
But costs aside, the answer is that the people and things I do in the city are what bring my life substance, and being from the suburbs, it's a deeply isolating sort of existence that relies pretty heavily on having a car. I've personally never aligned with the idea of working remotely and isolating myself further; it would seem to me a recipe for depression.
I love being in nature, isolated and away from the city, at times, but not most of the time. I like leaving my place to walk to the grocery store, the cafe, and along the way being able to bump into people I know by name and ask them how things are going. I like walking to the gym, especially when it's raining (a lot), and having my small community of people there. Incredible food is nearby as well, concert venues, easy access to the airport, none if which I'm indulging in all the time but enough that it really brings flavour into my life.
I also like biking around, and for that there's actually quite a lot better infrastructure for in the city vs out, and it's easier to just get on a bus and go into the wilderness.
The crackhead comment was a bit flippant. I don't have a problem with anyone experiencing addiction, it's just a deep irony I find a little sad, akin to "instead of making it easier to build a life here, we'll just make it easier to fall out the bottom", though I know things are wildly more complex than that.
Lastly, aside from all those reasons, there are theoretically more job opportunities in the city, and that's good for my partner who doesn't work remotely and for me during the periods where there is no programming work.
To me, a good city is the culmination of social systems including capitalism that benefit from having more people around. A greater social circle of people available, more market, more jobs, more culture, better transit systems, art, etc..
Edit: I'd add the the only aspect of living in a city that's busy or particularly loud are automobiles, and to an extent the train. Very little of any generalized chaos is the result of many people ambiently being around, depending I guess on your individual tolerance for that and where specifically you might be. It's never once occurred to me that there are too many people around.
Re: What broke Sweden? Real estate bust exposes big divide
#215Earlier quoted context omitted.
You can't claim "wait times" as a positive of letting a bunch of people die or go bankrupt Quality is just not true
> You can't claim "wait times" as a positive of letting a bunch of people die or go bankrupt i already covered that under 'access' . If you have access then USA has much lower wait times. Its postive to the people who have access. Your implication that wait times are just natural consequence of more access is also not right. "Commonwealth Fund ranked Canada last among 11 countries surveyed on wait times for specialis…
That's a bit like saying "you can find the cleanest air in the world in California". In remote locations in the desert or wilderness that's plausibly possible, but the vast majority of people live in cities with substantial air pollution. Likewise, most Americans do not have access to cutting edge medical treatments and endure what I would generously call apathetic care from their medical providers. What is available to a celebrity or Saudi prince will never be available to you or any other American you ever meet.
Re: What broke Sweden? Real estate bust exposes big divide
#216Earlier quoted context omitted.
> The reason you are looking for is called corruption. It could just be democracy. Homeowners are an important vote bank and they generally want house prices to rise. A government that substantially increased housing supply would cause house prices to drop, which would make homeowners unhappy.
I try to remind people in the US that there’s exactly one constituency that wants affordable houses. People who don’t have houses yet. Everybody else wants housing to continue to be a growth investment, and thus increasingly unaffordable. Developers want to make & sell more expensive things. Lenders want to make more & bigger loans. Existing owners want the value of their most valuable asset to go “up & to the right”…
Acting like non-NIMBYs don't exist is harmful and does a massive disservice to them. They do exist and they need to be praised instead of ignored.
Re: What broke Sweden? Real estate bust exposes big divide
#217Earlier quoted context omitted.
You can twist the supply demand imbalance only so much. Go farther than required for longer than required, and some cracks will eventually show up. Like they did for Silicon Valley bank. So it is hard to say when those cracks appear since the global market is quite a big market and can sustain imbalances for a long time, but then the bigger the bubble the bigger the crash. Foreigner limits, tax on no. Residents, star…
I think the difference here is fundamentally there is insufficient supply for the demand of housing globally, or at least US, UK and EU. The previous generation made new builds extremely difficult or impossible in many jurisdictions.
But there's abandoned medieval villages (no plumbing or electricity so far...) in hilly rural Italy.
Re: What broke Sweden? Real estate bust exposes big divide
#218Earlier quoted context omitted.
I believe we are in a time where everyone is milking the 90s-20s real estate bubble and no one wants to be first to fold. Internationally, not just on a per country basis. As soon as say, French real estate collapses (or UK or USA or Germany etc), the whole rotten castle of cards will fold as well. If it doesn't you can enjoy the expensive property, but you won't be eating farmed foods, won't be in a clean environmen…
Why would it collapse? There’s insatiable demand for extreme limited property. Interest rate hikes may lower the price of property but the interest will rise proportionately. Do people really think at sone point no one will want premium property and I’ll finally get it cheap? Of course that will never happen.
The RE market is responding to the rates. Though, whether it’ll be enough is beyond my knowledge or possibly anyone else’s.
If not, it’s precisely this sort of situation where change seems impossible that people can find the will to insist upon change.
For renters, I suspect regulation and oversight would go a long way. It’s not going to create a NYC level inefficiency if gobbling up SFHs for rental properties is curtailed. (And I’ve heard of at least one story suggesting AirBnB rentals may be unable to rent at current prices/supply.) Nor would outlawing problematic practices create problems.
In the west, people largely have a say in their governments. People just need to show up to elections and primaries with the demand that government work for them.
Re: What broke Sweden? Real estate bust exposes big divide
#219Earlier quoted context omitted.
I don't know about Ireland, but in the US the home ownership rate is higher than it was at any point in the 20th century. So however bad the situation is it doesn't seem to actually prevent people from buying a house.
In the 90s, I didn't know anyone in their 20s, who didn't have a roommate(or two!), or were married. No one I knew, could afford an entire apartment to themselves! I find it weird that people complain about not being able to rent their own entire apartment, but are in their 20s. It wasn't a thing 30 years ago! As one advances in their career, eg in their 30s, then income tends to rise, due to experience, and better p…
Re: What broke Sweden? Real estate bust exposes big divide
#220Earlier quoted context omitted.
In Canada even if they do build housing 1) the immigration rate is so high it isn't enough to keep up 2) the house values in areas that dont build in enough housing have skyrocketed, and smart homeowners in those areas have decided to sell and move to places with lower house prices and purchase more than one, which of course rockets the price even in the places that do build a lot. So even in provinces where lots of…
> 1) the immigration rate is so high it isn't enough to keep up That could be addressed by making home building a priority and by relaxing regulations like zoning. Allow more infill. > 3) The government doesn't want to do anything about it because immigration is how they're keeping down wages That's not the only reason to support immigration. Canada, as is the case with most western nations, is facing a demographic c…