Personal Finance

3802 readers

1 users here now

Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!

Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)

founded 1 year ago

MODERATORS

[email protected]

nieceandtows

[email protected]

Do you think we will ever have affordable housing again in our lifetime? (discuss.tchncs.de)

submitted 1 year ago by [email protected] to c/[email protected]

21 comments fedilink hide all child comments

cross-posted from: https://lemmy.world/post/3560407

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?

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 6 points 1 year ago

The crash of 2008 is just 15 years ago. You could hardly give away properties in my neighborhood - there were multiple sales for less than the cost of my car. Those exact conditions may not recur, but speculators always, always overextend. The 15 years of continuous gains we've experienced since 2008 are historically unprecedented, so one might even guess that we're due for a major correction. Maybe it won't be for another 10 years, but there will definitely be a major housing crash "in our lifetime." Unless, maybe, you're already 80 years old.