How does the housing situation look like in your country?
DiscussionWhy the /s? You accurately described the current situation. A house or a flat isn't meant as a place to keep you warm in winter and dry in rain anymore. Now it's an investment!
Well if your money loses value by like 30 % over a few years, that should teach people to not have cash under their pillow. It's gonna get worse.
And you should teach them that investing into something they can touch isn't the only (and far from the best) way to invest.
Look at multiple countries where real estate prices crashed, tell those people that the only way for real estate prices to go is up... Come on
Prague... horrible, unaffordable.
Absolutely fucked, i can either go in debt for the rest of my life or work for like 20 years and hope the prices remain the same.
Unfortunately for us, I seriously doubt that the prices remain the same..
So recently I had a discussion here with someone (FYI u/Lucky_Version_4044) about rent and property prices in Czechia. We did not agree on how the situation should be tackled but we did agree it's pretty screwed up.
There is a lot of red tape which hinders the building of new houses and apartments, and on top of that people invest in real estate because otherwise their money will get eaten by inflation, further increasing the prices of real estate. If you want to not live in some remote cottage in the middle of nowhere you will likely need a mortgage because the property prices inside the city/town limits (where one can legally build) are high af.
Pretty sad situation. I heard it's slightly better in Poland, though that could be only if we compare our average income with theirs.
It's fucked up the prices increased 10 fold in last 20 years and salaries didn't catch up at all. Even with average salary you'd need to work for 10 years and not spend a single crown to afford a decent apartment.
Think of it fucked up is understatement. It's artificially hostile towards young people. Only people profiting from it are boomers that bought houses and apartments for extremely cheap and the price gouging reality salesemen.
I agree except for the last point. Most old people live in the houses with their children and I have friends living in apartment buildings owned by old people, who basically just want to break even. I think the cancer is private companies like Haisteiden (fuck those cunts, don't care how it's spelled).
I agree that it’s bad, but saving 600k in a few years and then getting a 90% LTV mortgage as a first time homeowner is still possible for a-lot people. Also theres a fuck ton of developers building all over Prague. Housing prices wont get fixed by politics, theres too many people owning them to let that happen. Imo getting a small apartment and then upgrading later is the best option.
Fucked.
I don't think this is only in Eastern Europe. This is like the rest of the modern world, unfortunately. Millennials and Gen Z got it bad. Unless you're born from generational wealth, set to inherit one of your ancestor's houses, marry rich, or suddenly become 'new money', I'm afraid it's gonna take decades and decades of work to pay off a house.
Which is why many give up before even trying. It's hopeless currently
In UK is even worse. I know it's not on the subject, and probabky many don't do this anyway, but before you soak your country in sewage, remember "west" is not the best. "West" has very similar issues, just had 50+ yrs advantage after WW2 (away from Reds) and mostly were occupants, not occupied.
Houses in London zone 3 are the same prices as flats in London. Not sure who has it worse...
At least in UK you build... Also if you go to tier 2 cities, real estate is way more affordable than in London. Try that in some tier 2 cities in easteuro
After WW3 prices will drop. Just wait.
Atp i know im never moving out, our productivity is the same as germany, yet wages are lower then poland. We need left goverment back so badly, these neolibs fucked everything up.
We need left goverment back
Doesn't the left just spend money and then the money runs out, there is inflation and so on?
Houses? They are meant as investments for those who can afford it, not a place to live in. (/s).