Re:Canada to ban foreigners from buying homes
by throwaway2037 on Thursday April 07, 2022 @10:23PM
(#30952657)
In France and Germany, housing supply is more carefully planned. In most places, housing prices are flat in real price terms (including inflation). That's ideal for middle income and below. Even in places that have seen sharp rises like Paris and Berlin, there is a lot of political pressure (and action) to solve these problems.
One of the problems is that once people buy into the system, their entire life's savings (plus often 4x more via leverage) is tied up in the house and the price of the house. At that point, most dont want more development, because they lose their life savings if home prices go down.
Each person entering this horrible system is forced to perpetuate it, or lose it all.