Housing is becoming unaffordable across the world

[stompix]

I love how so many people ignore a ton of facts

- house prices go up where houses are in demand
House prices in the capital here are over 5000 euros per sqm, but you can go deep in the mountain area in abandoned villages and grab a house with 20k euros
- we were 4 .4 billion in 1980, we are at 8.3 billion
Not only has the population doubled and obviously land area not but there is a ton of migration from rural to urban areas
- houses are bigger than ever


People talk about a house being more expensive, forgetting that houses are now 3 times larger on average than a century ago

Trump deliberately creates inflation to be hurt all but the ultra rich.
My taxes on my house were 2300 in 1992 and 4700 in 2016.
  Now they are 11200 plus no discounts for being a senior at 69 years old.
I will have to leave in 2027 or 2028. Taxes will pass 14000 by 2028

Aren't property taxes at state level?

[Webutxo]

It's not only in Lagos, this happens in many part of the world, the house rent hike in Urban and industrial areas are known facts by now, the search to put food on the table attracts people of all types educate and uneducated alike because their is always one or two opportunities for everyone.
The only few opposition to this comes from the wealthy rich, some people wants to be away from all the struggles and buzzle of an industrial area, so they look for a more serene, beautiful and artistic environment to leave and because of these their ostentatious need the price that should be low to moderate goes extremely high.

This Lagos caught my attention and I will be clear about it because anytime I see Lagos, it boils my mind how house rents are overpriced over there. I was watching a podcasts with Edoho when he was been asked about Real estate price in Lagos and what he says got down to my chin, he says the Real Estate business in Lagos and whole Nigeria is armed robbery and I agree with him because how can a house that is not as good like a house in US be costly, doesn't make sense.

How much is the average person in Nigeria earning as their basic salary, how much are they earning to be able to afford those houses. Average man person working in Lagos can't afford those houses with thier salary, the economy is down, dollar has outperformed naira in the last few years back, so why are the prices going up and you know what irritates me more, is the fact that houses are price in dollars in a country where there is a naira currency, Real estate here doesn't represent people, it's money laundering.

[Thomas krik]

Well the I think one of the reasons houses are becoming too expensive is because many people are looking for homes, but there are not enough houses for everyone. Many people move to big cities to find jobs, go to school, or have a better life. Because of this, the demand for houses becomes high, and the prices keep increasing in those areas
And I also think many people want to live in the same places because those areas have better roads, schools, and other facilities. This makes houses in those places even more expensive. And one way to solve this problem is to build more affordable houses in different areas so people will have more options. If there are enough houses for everyone, the prices may come down and more people will be able to afford a home.

[letteredhub]

Snip

It's not only in Lagos, this happens in many part of the world, the house rent hike in Urban and industrial areas are known facts by now, the search to put food on the table attracts people of all types educate and uneducated alike because their is always one or two opportunities for everyone.
...

There are places that are urban cities but are not with much industries, companies and institutions large enough to drag people from far and near to these places, and that's why I had to mention Lagos. Because it's a real case closer to me than anywhere in the world. What the government at the centre is doing with Lagos isn't what is contemporary for decentralized development across any nation, in many developing and developed nations of the world this isn't done, there's a demonstration of federal character in the way industries and institutions are spread across many urban cities to control excess population in one place,  not having it jam-packed in the centre.

[Betwrong]

In many countries, house prices have risen far more than wages, making it increasingly difficult for ordinary people, particularly first-time buyers, to afford a home. As people continue to move to large cities in search of better opportunities, the demand for housing keeps growing. In addition, many investors buy properties not to live in, but to benefit from rising prices.

•What could be the possible solution?

The possible solution is not buying a house, but renting a flat. Millions of people live like that, never giving to buying a house a thought. And it's not about buying a house only. Instead of struggling to buy a car, you can use public transport. Don't try to live like a rich person. Just try to live. Try to live a happy life helping others to live happy lives too. That's what I think.

[avp2306]

In many countries, house prices have risen far more than wages, making it increasingly difficult for ordinary people, particularly first-time buyers, to afford a home. As people continue to move to large cities in search of better opportunities, the demand for housing keeps growing. In addition, many investors buy properties not to live in, but to benefit from rising prices.

•What could be the possible solution?

The possible solution is not buying a house, but renting a flat. Millions of people live like that, never giving to buying a house a thought. And it's not about buying a house only. Instead of struggling to buy a car, you can use public transport. Don't try to live like a rich person. Just try to live. Try to live a happy life helping others to live happy lives too. That's what I think.

Happy life does not actually mean owning a house or even a car. Also what you have said that using public transport and renting is somehow a normal choice for many people, also we see them doing good as this is ideal especially if the house is near on their workplaces or there are lots of opportunities in that places.

What actually matter the most is they live according to their means, then they should avoid having those unnecessary pressure. Then focus on important things that gives peace of mind and stability.

So with all of those things we discuss owning a house is not a must for now, but on how we can live peacefully, then take those good opportunities in life.

[knowngunman]

Well the I think one of the reasons houses are becoming too expensive is because many people are looking for homes, but there are not enough houses for everyone. Many people move to big cities to find jobs, go to school, or have a better life. Because of this, the demand for houses becomes high, and the prices keep increasing in those areas
And I also think many people want to live in the same places because those areas have better roads, schools, and other facilities. This makes houses in those places even more expensive. And one way to solve this problem is to build more affordable houses in different areas so people will have more options. If there are enough houses for everyone, the prices may come down and more people will be able to afford a home.

The problem is government focused on developing urban areas while they abandoned the rural areas that have vast landmass. People now believe that you need to relocate to urban areas if you really want to succeed and that's just the fact. Good roads, working hospitals and schools, industries and companies are all located in the city with limited land space to accommodate enough people. The population is increasing as people continue to look for opportunities in the city and making land to become a scarce resource.

If government can shift their attention to rural areas, move some companies, build a working hospitals and schools in rural areas, the dependency on city for survival would reduce drastically. Access to good life and opportunities is the reason why people are relocating to cities. If they can have access to these things in the rural areas, they'll remain in the rural areas and reduce the congestion in the city which is the core reason for the uprising cost of housing in the city.

[YOSHIE]

•What could be the possible solution?

One solution is "SUBSIDY" from the government, that is the best solution.

Everyone now understands that the salaries received by individuals whether they work in the government, private sector or independently, the increase in property prices has now exceeded people's income, this is where the current problem is occurring which is causing the global housing crisis, if you double your monthly salary with current economic conditions, it will most likely take 20-25 years to be able to buy a housing unit, all things go up, cement, stone, zinc, iron and also the costs of builders have increased drastically, this situation has become an obstacle for people to build a simple housing unit, unlike in the era of 20 years that have passed.

I take an example in my country, the average income of a low class government employee is $4500/year, while a type 36 house is priced at $6000/unit, this is clearly a much increased percentage ratio, if such a comparison is clearly not able to buy a house, except for corruption, legal/illegal side jobs, clearly contrary to the law and risk of prison.
This is the current economic condition and income of society, except for employees who are in the upper middle class and hold positions, only those who can buy a house, but only a handful, what about those who work as laborers, who only have a daily salary/$6-$10, there is no story, except for subsidies for livable housing from the government for low-income people.