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.

[Mr Reporter]

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.

Bro the Lagos State Housing matter is worth crying about for because from my experience staying in a Lagos State, Housing Agency house is like Armed robbery, and what pains me the most is earning alot of money and wasting it on house rents, now let's do a reality check about rent payment, someone is earning $1000 a month and yearly he pays close to $6000 yearly, so like 70% of workers in Lagos State earn alot or even less and above that still pays half of their earnings, And what makes it so much hard is that economy is down, naira has collapsed, but rent keeps climbing and everyone are just so angry how things are becoming…

And the truth is that real estate is where all these politicians, yahoo boys, and big men waste or store their money laundry, They don’t care if the house is empty, all they want is want what works for them

[Tmoonz]

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.

Bro the Lagos State Housing matter is worth crying about for because from my experience staying in a Lagos State, Housing Agency house is like Armed robbery, and what pains me the most is earning alot of money and wasting it on house rents, now let's do a reality check about rent payment, someone is earning $1000 a month and yearly he pays close to $6000 yearly, so like 70% of workers in Lagos State earn alot or even less and above that still pays half of their earnings, And what makes it so much hard is that economy is down, naira has collapsed, but rent keeps climbing and everyone are just so angry how things are becoming…

And the truth is that real estate is where all these politicians, yahoo boys, and big men waste or store their money laundry, They don’t care if the house is empty, all they want is want what works for them

Well I have not lived in Lagos state before and I have no idea how things work over there, but with what you've just said and my own experience in the places I have lived before such as Yenagoa and Port- Harcourt I think it's almost the same every where, and most at times I don't really blame them, because if the Nigeria economy is quite okay there's no way someone that is earning at least $1000 per month won't be able to erect a building at least 2-3 bedroom flat, but hell no instead someone that is earning such amount will be more concerned of sorting children school fees and Manny other family expenses, after much what then will be left with such person, so it really hard this days that why those that has gotten a building will like to take advantage of it to milk the next person.

[Btcdeybodi]

Bro the Lagos State Housing matter is worth crying about for because from my experience staying in a Lagos State, Housing Agency house is like Armed robbery, and what pains me the most is earning alot of money and wasting it on house rents, now let's do a reality check about rent payment, someone is earning $1000 a month and yearly he pays close to $6000 yearly, so like 70% of workers in Lagos State earn alot or even less and above that still pays half of their earnings, And what makes it so much hard is that economy is down, naira has collapsed, but rent keeps climbing and everyone are just so angry how things are becoming…

Honestly, I don't even know what the hype about Lagos is because all I see is a place where people are earning more and yet they pay outrageous amount for rent which they end up not achieving anything reasonable for themselves apart from feeding themselves and buying wears. Lagos State annoys me so much because despite the hype and being a commercial city, it is one of the dirtiest Cities in Nigeria. No good town plan, no water channels and no drainages which makes most houses flooded when a heavy drop of rain falls. Except for someone who is doing a lucrative job in Lagos that can be able to afford a house otherwise most people leave in rented apartments. It is better to work in a region where you can afford daily ends meet and still have reserves to plan other things. However, the issue of high cost of housing is happening all over the world and of course, inflation is the major cause because regardless that houses in big Cities has more value but the cost of building materials is extremely high.

[Roseline492]

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.

You are right and already people are looking for how they will spend less from housing so if perhaps the government would start developing those rural areas and creating so many jobs there, so many people will quit leaving in the city because they would be spending lower amounts in housing and also commodities because things wouldn't be as expensive as it is in the city but however I don't why most government have not thought about this, especially in my country because all the cities are too populated and people have become higher than the houses available for rent that's why is too expensive.

[Cookdata]

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.

Let's not be sentimental with what's obvious, there are more people in urban areas than we have in rural areas so and governors are elected to represent most, they live their so it's expected of them to have much more development than the rural areas. The number of people in rural areas are also not concentrated to fix one region, you can have one big urban area with many people but you can have like 20 or more people that leaves in rural areas, this makes it difficult for rural to have he same treatment like urban.

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.

You don't expect the government to leave urban areas and focus on rural, it's not done that way, politically or economically the state will fail but a real leadership makes sure there is distribution of benefits across different regions so no one will be left behind. If you neglect rural rural, it will affect local farmer and they contribute to a GDP of the nation. They might not have every privileges but the basic amenities are not negotiable for development.

[batang_bitcoin]

•What could be the possible solution?

As a personal solution, one has to see the countryside. There will be lesser developments but I'm sure that there are markets where you can buy food or at least farm your own source of food. The price in those rural areas are way reduced and cheaper than it is in the cities and urban areas where the development has gone massively. A small parcel of land in the rural areas are cheap but I think distribution are going to give you a large chunk even if you only want a small piece of it. So, as for that solution is to buy that land in those far flung areas but don't settle where there are no basic amenities and infrastructures like hospitals, schools and markets. Of course, it's about the survival and that's needed to be considered but yes, you get the solution and cheap prices.

[Bushdark]

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 cost of renting a house has increase 2x more than what we have been paying for and this is majorly due to the world inflation that have been affecting different countries. There is nothing anyone can do about it and what we need to do is to work harder and make money so that those expenses can no longer be a problem. Most landlords do not really care about their tenants and all they want to see is to receive more pay from them claiming it was due to inflation. Buying a house has increased and you will have to rethink if you are ready to buy or you will want to invest the money in something else that will be much more rewarding.

[alastantiger]

You are right and already people are looking for how they will spend less from housing so if perhaps the government would start developing those rural areas and creating so many jobs there, so many people will quit leaving in the city because they would be spending lower amounts in housing and also commodities because things wouldn't be as expensive as it is in the city.

Some rural areas are becoming too expensive to live in now because more people are beginning to move there as the cuties become more expensive and that is how it is always going to be as places where people begin migrate to then it will begin to get expensive as everybody is moving there to cut cost from living in the city. Bus ticket become expensive, trains become crowded, and driving to work now takes more time because of too many cars on the road. Another thing is the lack of good jobs in the rural areas as good paying companies are not located in those areas hence salaries are very low in this areas.

[dansus021]

I do believe that this happen to every country in the world, I live in small town in Indonesia people from big city rushing here buy land property and all so we the native cant buy it because the price keep rising every year. I live with my parent and this is the final defense If this house been sold we are so doomed.

Also The reason housing is becoming globally unaffordable isn't just a lack of land or overpopulation it’s the financialization of real estate caused by fiat currency debasement.

When cash loses its purchasing power every year due to monetary expansion, capital flees into tangible, scarce assets. Real estate became the world's default 'store of value' for institutions, hedge funds, and high-net-worth individuals. When homes are bought as financial yield vehicles rather than shelter, prices inevitably outpace local wages.

[trendcoin]

In addition, many investors buy properties not to live in, but to benefit from rising prices.

Essentially, this is exactly what sets the vicious cycle in motion.

Precious metals like gold and silver rise sharply during times of war. In peacetime, they tend to perform more modestly. This is entirely a matter of demand.

However, housing is something that is in constant demand because our need for shelter has existed ever since we settled into a sedentary lifestyle. In other words, we’ve been building structures for 12,000 years. So, our need for housing predates even the use of gold as money.

•What could be the possible solution?

In my opinion, the solution is to take out a loan to buy a home during periods when interest rates are low.

[BALIK]

The cost of renting a house has increase 2x more than what we have been paying for and this is majorly due to the world inflation that have been affecting different countries. There is nothing anyone can do about it and what we need to do is to work harder and make money so that those expenses can no longer be a problem. Most landlords do not really care about their tenants and all they want to see is to receive more pay from them claiming it was due to inflation. Buying a house has increased and you will have to rethink if you are ready to buy or you will want to invest the money in something else that will be much more rewarding.

Inflation is one factor, but it is far from the only reason housing prices have risen so much. Rapid population growth, urbanization, limited housing supply, and speculation have all contributed to higher housing price. Inflation is just one piece of the bigger picture, and we should not place all the blame on it while overlooking other factor.

It's also not entirely fair to blame landlord, as they are simply responding to market supply and demand. If you owned multiple rental properties, you would probably make similar decisions under the same market condition.

[knowngunman]

Let's not be sentimental with what's obvious, there are more people in urban areas than we have in rural areas so and governors are elected to represent most, they live their so it's expected of them to have much more development than the rural areas. The number of people in rural areas are also not concentrated to fix one region, you can have one big urban area with many people but you can have like 20 or more people that leaves in rural areas, this makes it difficult for rural to have he same treatment like urban.

You don't expect the government to leave urban areas and focus on rural, it's not done that way, politically or economically the state will fail but a real leadership makes sure there is distribution of benefits across different regions so no one will be left behind. If you neglect rural rural, it will affect local farmer and they contribute to a GDP of the nation. They might not have every privileges but the basic amenities are not negotiable for development.

I never say government should abandon urban areas in my post. It makes no sense for government to shut down cities and concentrate on rural areas, that wasn't my point.

Do you know why we have more people in the urban areas? It's because the system force people to choose urban. You would agree with me that almost everyone in the city today came from a rural area. They didn't relocate because they want to, they left because they don't have choice. Everyone will definitely choose to stay where they can have access to basic necessities.

Nobody expect government to distribute things equally between urban and rural but at least 80/20 should be feasible. Instead of having almost all offices in urban areas, some should be moved to rural areas. It's simple as that.