Portuguese here. I basically have no hope to rent a house (let alone buy one lol). I live with my parents (am 27) and help pay the bills and I don't see this reality changing for the foreseeable...
Portuguese here. I basically have no hope to rent a house (let alone buy one lol). I live with my parents (am 27) and help pay the bills and I don't see this reality changing for the foreseeable future until I move out of the country to somewhere where the salaries are better.
Most of the people I know in my age bracket are the same, the only folks I know with a house/apartment inherited one.
Also the person in this article actually has it "good". 700 euros in Lisbon is almost a "steal" these days where most places are asking for 1000+ for anything with more than a bedroom or that isn't a rotting cellar somewhere.
The entire country's economy is geared towards tourists and high-income foreign workers and it's absolutely tearing us apart. People have grown extremely resentful of foreigners (even though the ones to blame are the government), every industry goes on strike every other day and gets little to no demands met, the far right is rising like crazy because of the insane corruption in most left wing parties, and it feels like there's just no future for us.
But hey the pope is coming to town and we somehow found millions of euros in public money to build him a stage, so that's fun. /s
I vote every single election for a change and every time the same corrupt people win. I feel so freaking hopeless for me and for my home country.
Has airbnb and or vrbo made the problem worse? We have tourist communities in the US like Lake Tahoe where it is almost impossible to find housing because of airbnb and vacation homes.
Has airbnb and or vrbo made the problem worse? We have tourist communities in the US like Lake Tahoe where it is almost impossible to find housing because of airbnb and vacation homes.
Yes it did since it helped make short term rental the main way to make a profit on your real estate. The government actually helped Airbnb and the like by creating a "local housing" certification...
Yes it did since it helped make short term rental the main way to make a profit on your real estate.
The government actually helped Airbnb and the like by creating a "local housing" certification program you can apply for if you have a property used mainly for short term renting so it's easier for people to find these houses and it's easier for the government to track and get a cut from them. They even give you a blue plaque you can hang on the house so it's easy for tourists to identify them and makes it seem like a legit business.
Over here, airbnb help exacerbate the lack of short term (heck long term as well) rentals especially when we jacked up our immigration intake - especially overseas students,since the pandemic...
Over here, airbnb help exacerbate the lack of short term (heck long term as well) rentals especially when we jacked up our immigration intake - especially overseas students,since the pandemic tapered off/ended.
Affordable housing? No. Only luxury housing paid for by big investors. As for the government, they want to force existing houses up for rental that are empty to be forcefully rented (or the...
Affordable housing? No. Only luxury housing paid for by big investors.
As for the government, they want to force existing houses up for rental that are empty to be forcefully rented (or the landlords have to pay big fines) instead of building new housing. It's a controversial policy to say the least.
It seems like new housing targeted towards foreigners would still help with rents, since there is less competition for other rentals? Possibly, something could be done to make older housing less...
It seems like new housing targeted towards foreigners would still help with rents, since there is less competition for other rentals?
Possibly, something could be done to make older housing less attractive to foreigners.
How is it that housing is so expensive everywhere these days? I live in a relative backwater for my country, and yet the situation is much the same, although not (yet) as extreme.
How is it that housing is so expensive everywhere these days?
I live in a relative backwater for my country, and yet the situation is much the same, although not (yet) as extreme.
Growing populations. And also - there are lots of places where housing is very cheap; it's just that people don't want to move there. Dozens of locations in Europe (mostly in rapidly-aging...
Growing populations. And also - there are lots of places where housing is very cheap; it's just that people don't want to move there. Dozens of locations in Europe (mostly in rapidly-aging countries like Italy) have grants in which they'll pay you tens of thousands of euros if you agree to move to a dying village. Real estate there is the next best thing to free.
Often in those schemes, at least in Italy, you’ll get the house for ”free” but you have to agree to extensive renovations and investments in the property so it still has a price in the end.
Often in those schemes, at least in Italy, you’ll get the house for ”free” but you have to agree to extensive renovations and investments in the property so it still has a price in the end.
Many countries in Asia have affordable housing. It's just that much of the Western world (and particularly the anglosphere) are being choked out by low density development patterns reaching their...
Many countries in Asia have affordable housing. It's just that much of the Western world (and particularly the anglosphere) are being choked out by low density development patterns reaching their limits. Before the car was commonplace, Georgism was an extremely popular economic theory that promoted more efficient land use.
There's no single cause for this, but in my opinion one of the top contributing factors is allowing housing to be an investment. It is a great return on investment because there will always be a...
There's no single cause for this, but in my opinion one of the top contributing factors is allowing housing to be an investment. It is a great return on investment because there will always be a need for housing, and the more people do it, the more pressure there is to raise prices.
Having a global economy weighted towards mortgage debt means house prices must go up at all costs. For rental properties, that means rents must go up to service the mortgages that creep up in...
Having a global economy weighted towards mortgage debt means house prices must go up at all costs.
For rental properties, that means rents must go up to service the mortgages that creep up in value each time a property is exchanged with a new person with a new mortgage.
Blaming digital nomads is a red herring there just aren’t enough of them to dent the overriding trends.
Porto and Lisbon are beautiful cities to visit. But Portugal has a similar problem to Spain with a lack of a base economy that isn’t tourism.
I’m not sure how to solve it. For a shitty metaphor, it seems like people there became tour guides instead of bricklayers or whatever. Once the maximum local tourism value is extracted, no new value is created so you get a shitty economy like Spain, Greece, or Portugal.
Turkey, is the same to some extent but they actually have a pretty strong manufacturing base away from the coasts, (the coasts are pure tourism driven).
Thought I agree with your statement, I must say that it is not as if there are no bricklayers... most of them are simply working abroad in places that offer better job conditions. The same applies...
I’m not sure how to solve it. For a shitty metaphor, it seems like people there became tour guides instead of bricklayers or whatever.
Thought I agree with your statement, I must say that it is not as if there are no bricklayers... most of them are simply working abroad in places that offer better job conditions. The same applies for professionals in areas.
I think it's a little unfair of the article to blame remote workers for higher rent costs. Having [relatively] high-income skilled labor move to a city is nearly always a good thing. These aren't...
I think it's a little unfair of the article to blame remote workers for higher rent costs. Having [relatively] high-income skilled labor move to a city is nearly always a good thing. These aren't trust fund babies - they're only (or "only", if you like) making 4x the average salary.
Portuguese here. I basically have no hope to rent a house (let alone buy one lol). I live with my parents (am 27) and help pay the bills and I don't see this reality changing for the foreseeable future until I move out of the country to somewhere where the salaries are better.
Most of the people I know in my age bracket are the same, the only folks I know with a house/apartment inherited one.
Also the person in this article actually has it "good". 700 euros in Lisbon is almost a "steal" these days where most places are asking for 1000+ for anything with more than a bedroom or that isn't a rotting cellar somewhere.
The entire country's economy is geared towards tourists and high-income foreign workers and it's absolutely tearing us apart. People have grown extremely resentful of foreigners (even though the ones to blame are the government), every industry goes on strike every other day and gets little to no demands met, the far right is rising like crazy because of the insane corruption in most left wing parties, and it feels like there's just no future for us.
But hey the pope is coming to town and we somehow found millions of euros in public money to build him a stage, so that's fun. /s
I vote every single election for a change and every time the same corrupt people win. I feel so freaking hopeless for me and for my home country.
Has airbnb and or vrbo made the problem worse? We have tourist communities in the US like Lake Tahoe where it is almost impossible to find housing because of airbnb and vacation homes.
Yes it did since it helped make short term rental the main way to make a profit on your real estate.
The government actually helped Airbnb and the like by creating a "local housing" certification program you can apply for if you have a property used mainly for short term renting so it's easier for people to find these houses and it's easier for the government to track and get a cut from them. They even give you a blue plaque you can hang on the house so it's easy for tourists to identify them and makes it seem like a legit business.
Over here, airbnb help exacerbate the lack of short term (heck long term as well) rentals especially when we jacked up our immigration intake - especially overseas students,since the pandemic tapered off/ended.
Is more housing being built?
Affordable housing? No. Only luxury housing paid for by big investors.
As for the government, they want to force existing houses up for rental that are empty to be forcefully rented (or the landlords have to pay big fines) instead of building new housing. It's a controversial policy to say the least.
Unless the luxury housing is completely vacant, it's helping.
It seems like new housing targeted towards foreigners would still help with rents, since there is less competition for other rentals?
Possibly, something could be done to make older housing less attractive to foreigners.
How is it that housing is so expensive everywhere these days?
I live in a relative backwater for my country, and yet the situation is much the same, although not (yet) as extreme.
Growing populations. And also - there are lots of places where housing is very cheap; it's just that people don't want to move there. Dozens of locations in Europe (mostly in rapidly-aging countries like Italy) have grants in which they'll pay you tens of thousands of euros if you agree to move to a dying village. Real estate there is the next best thing to free.
Heard it briefly mentioned in some videos on youtube a while back. How does it work over there and what other countries do it?
Often in those schemes, at least in Italy, you’ll get the house for ”free” but you have to agree to extensive renovations and investments in the property so it still has a price in the end.
Many countries in Asia have affordable housing. It's just that much of the Western world (and particularly the anglosphere) are being choked out by low density development patterns reaching their limits. Before the car was commonplace, Georgism was an extremely popular economic theory that promoted more efficient land use.
There's no single cause for this, but in my opinion one of the top contributing factors is allowing housing to be an investment. It is a great return on investment because there will always be a need for housing, and the more people do it, the more pressure there is to raise prices.
Having a global economy weighted towards mortgage debt means house prices must go up at all costs.
For rental properties, that means rents must go up to service the mortgages that creep up in value each time a property is exchanged with a new person with a new mortgage.
Blaming digital nomads is a red herring there just aren’t enough of them to dent the overriding trends.
Porto and Lisbon are beautiful cities to visit. But Portugal has a similar problem to Spain with a lack of a base economy that isn’t tourism.
I’m not sure how to solve it. For a shitty metaphor, it seems like people there became tour guides instead of bricklayers or whatever. Once the maximum local tourism value is extracted, no new value is created so you get a shitty economy like Spain, Greece, or Portugal.
Turkey, is the same to some extent but they actually have a pretty strong manufacturing base away from the coasts, (the coasts are pure tourism driven).
Thought I agree with your statement, I must say that it is not as if there are no bricklayers... most of them are simply working abroad in places that offer better job conditions. The same applies for professionals in areas.
I think it's a little unfair of the article to blame remote workers for higher rent costs. Having [relatively] high-income skilled labor move to a city is nearly always a good thing. These aren't trust fund babies - they're only (or "only", if you like) making 4x the average salary.