Eastern Europe must be a paradise

[Reiwa]

Originally Posted by Swish [You must be logged in to view images. Log in or Register.]

The countries with the lowest ownership probably correlate with the highest migrant worker populations (except maybe Turkey) - keeping wages suppressed and demand for limited housing up. A lot of people can't even get mortgages at this point.

I've known a bunch of people who came to the UK to work, saved every penny to buy a family home back in Poland/Croatia/Romania/etc. It works because the UK minimum wage is about 7-8 times the average Romanian wage. Meanwhile if you're wanting to buy in the UK...good luck/is it worth it? Most older houses are 100+ years old and falling apart, and the new builds are made with shitty materials because profits/line must go up.

That said I can see the US is in worse shape in terms of homelessness. We're not far behind.

The lesson I take is from the highest ownership being in the former Warsaw countries.

They're not really countries but the point is inelasticity in the housing market is a bad economic thingy too.