In US everything is great.
There are some exceptions but these are not a norm.
Ask HN: Is your country facing a housing crisis right now, in 2023?
11–20 of 25 posts
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#12Australia, absolutely.
In 2019-2020 37.4% of mortgagees and 58% of renters in lower-income households spent more than 30% income on housing [1]. Since then rental pricing has detached from reality (or at least CPI) [2] and house prices have continued to climb. There also appears to be entry of large investment firms starting to buy up assets which is mildly terrifying.
The housing rocket ship has been great for anyone on it, but horrendous for the future of society. We're currently hardlining towards neo-feudalism within a generation or two.
[1]: https://www.aihw.gov.au/reports/australias-welfare/housing-a...
[2]: https://www.rba.gov.au/publications/bulletin/2023/jun/new-in...
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#13Yes.
In Spain buying is almost impossible unless it's a couple and both have been saving for a decade.
Renting is no different. Prices increase around 20% in my city every year. People used to share in their early twenties but now they are forced to do it in their thirties too. I even know people in their 40s who have to move back with their parents after a breakup because with their salaries they can't afford to rent alone. Rent control is also making things worse.
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#14It depends on the definitions of a housing crisis, but according to “ The Guardian” [0]Spain is in the worst housing crisis in Europe.
Here this the summary:
“ In Spain, a significant housing law, aimed at enshrining housing as a fundamental human right, was implemented on May 26, following years of development. However, its future is uncertain due to the recent gain of rightwing parties in elections and a snap election called by Prime Minister Pedro Sánchez for July 23. The law's roots date back to 1956, aiming to transition Spain to a nation of homeowners and establishing "publicly protected housing," which could be sold after 30 years. Spain, with nearly 80% of homes being owner-occupied, faced a crisis in 2008 when global real estate issues led to widespread evictions and skyrocketing rents, amidst only a minimal increase in wages. This disparity has resulted in Spain having the highest housing cost overburden rate in Europe and sparked a housing movement driven by anti-eviction activists and tenants’ unions.”
[0] https://www.theguardian.com/commentisfree/2023/jun/05/spain-...
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#15It's interesting to me that the issue seems to be mostly in the anglosphere - moving to France I noticed folks are more willing to live in apartments and not pay 10-20 years salary for their first home (more like 3-5).
True for the restaurant business as well, I've noticed people prefer to eat cheap fast food instead of expensive restaurant meals. I also noticed that people prefer to not have a car than paying for an expensive new car, that they prefer to not have children and that they prefer to work low wage jobs instead of those hard to get high wage jobs.
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#16Germany. Absolutely.
Berlin feels full. Flats are impossible to find. Prices are exploding. Landlords are really taking the piss. Buying is not advisable either because the prices have not adjusted to the interest rates.
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#17Yes, of course. There has been an ongoing housing crisis for decades, why would 2023 be any different?
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#18Yes. In Spain buying is almost impossible unless it's a couple and both have been saving for a decade. Renting is no different. Prices increase around 20% in my city every year. People used to share in their early twenties but now they are forced to do it in their thirties too. I even know people in their 40s who have to move back with their parents after a breakup because with their salaries they can't afford to ren…
That's interesting, I recently saw a map which showed that Spain in particular has a larger percentage of young adults living with parents: https://www.pewresearch.org/short-reads/2023/05/03/in-the-u-...
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#19Urban density has increased greatly in select areas but building laws are such that building new housing is both difficult and expensive. Seems unlikely to change in western countries
Re: Ask HN: Is your country facing a housing crisis right now, in 2023?
#20Yes. In Spain buying is almost impossible unless it's a couple and both have been saving for a decade. Renting is no different. Prices increase around 20% in my city every year. People used to share in their early twenties but now they are forced to do it in their thirties too. I even know people in their 40s who have to move back with their parents after a breakup because with their salaries they can't afford to ren…
Having lived recently in Denmark, UK, and Spain, I think these 3 and most other EU countries are experiencing the same issue.
Well-paid jobs are concentrated in a few regions where real estate prices have skyrocketed. It sucks big time.
You may struggle to rent or buy small properties even with a highly-paid IT job.