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Do you think we will ever have affordable housing again in our lifetime? (self.asklemmy)

submitted 1 year ago by filister to c/asklemmy

272 comments fedilink hide all child comments

Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?

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[–] higgsone 6 points 1 year ago (2 children)

If the average habitant in a country can buy a house and pay the whole credit in his lifetime, I consider this as affordable housing

[–] TheInsane42 5 points 1 year ago

Depends, do you want that person to be able to have a partner, kids and something to eat? If no then yeah, probably.

At this moment in The Netherlands:

starter: forget buying one (you need to bring loads and the student loan that wouldn't impact your chances on a mortage, guess what, it does)
unemployed or on benefit, social letting (waiting time for a place to live mesured in decades)
earning more then minimum wage: free letting market, costs about half your income (you won't get a mortage when it would cost you more then a 3rd)

Oh, and there is a huge shortage and building has dropped to less then 10% of what is needed, due to inflation. The only way hiusing is affordable is when you already live in a bought house and have been living there for about 15+ year. (Bought mine in 2000, before the prizes exploded and after that the mortage rates exploded)

Either the income needs to improve a lot (with constant prizes and rates), or the prizes need to collaps (when that happens nobody will move, to expensive)

[–] joe 1 points 1 year ago (1 children)

You probably mean median, right?

But I meant an official one.

[–] [email protected] 3 points 1 year ago

Ideally lower than median: closer to Q1. Still, you have to start somewhere.