Re:Home ownership is the West’s biggest economic-policy mistake
by WalterBright on Tuesday April 20, 2021 @04:28AM
(#26872124)
What the article says about Germany:
"Most important, in a few places the rate of home ownership is low and no one bats an eyelid. It is just 50% in Germany, which has a rental sector that encourages long-term tenancies and provides clear and enforceable rights for renters. With ample supply and few tax breaks or subsidies for owner-occupiers, home ownership is far less alluring and the political clout of nimbys is muted. Despite strong recent growth in some cities, Germany’s real house prices are, on average, no higher than they were in 1980."
Nowhere does the article say that speculators are the cause of high prices. Speculators are the result of a rapidly changing market, not the cause.
"Most important, in a few places the rate of home ownership is low and no one bats an eyelid. It is just 50% in Germany, which has a rental sector that encourages long-term tenancies and provides clear and enforceable rights for renters. With ample supply and few tax breaks or subsidies for owner-occupiers, home ownership is far less alluring and the political clout of nimbys is muted. Despite strong recent growth in some cities, Germany’s real house prices are, on average, no higher than they were in 1980."
Nowhere does the article say that speculators are the cause of high prices. Speculators are the result of a rapidly changing market, not the cause.