Housing is becoming unaffordable across the world

[Y3shot]

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.

I know the rate of inflation is increasing and it will definitely affect the price of renting houses, but the truth must be told. Most homeowners and agents are using inflation to their advantage to make more money.

If you compare the income of average people and the amount of housing, it is what most people can't even easily afford, but it just seems they are using all the money they make just to pay for housing. I feel the government needs to regulate the amount for housing because it is killing many people; even the least expensive apartments are costly, and the solution is not even getting a small one because it is still not affordable.

[Oyoyoma_yu]

There is very high cost of living in many countries of the world, and inflation is the reason why housing is very costly at present. Initially, the cost of building a house was not much, by right now, building a house of your own is no longer an easy task. Right now because of how costly are building materials some people who are living in the city maybe have a plot of land to develop, they are now building tent, and thatch houses just to make sure they do not leave their job, and return home doing nothing. However, I still believe their is a solution to these housing problem.
The government should issue a regulatory order or policies, and ensure, any violation of these policies will be penalized severely, and government too should make good policies that will reduce cost of building materials, and ensure business people do not inflate the cost of building materials.

[Versatile_choice]

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.

I know the rate of inflation is increasing and it will definitely affect the price of renting houses, but the truth must be told. Most homeowners and agents are using inflation to their advantage to make more money.

You can't assume that most house owners are using inflation to thier advantage, you also need to consider the money they spent while building those apartments and also, how standard is the apartment, this are the things that increase the price of rent. Although you might be right about that. but I don't think if there is anyone who is using inflation to thier advantage especially in this aspect, if it's in other aspect like business, I can easily agree with you. Although I know the price of rent here might not be the same over there, but if that's how most people are doing over there then I would say that it's not fair.

[püsür]

I’m surprised yet again to see another post highlighting the global nature of an economic problem. Unless I’ve misread the news, there was a housing problem almost everywhere outside the former Soviet states, or it’s on the rise. Of course, the problem of inflation, which is having a negative impact on the whole world, is also affecting the housing market. But I’m surprised that such a fundamental problem remains so intractable. If we consider the 190-odd countries in the world, even in countries we might call ‘developed’—such as Italy and Spain—young people are unable to leave home and move into their own homes because it’s so financially difficult. Youth unemployment is already very high in these countries. Yet basic necessities – such as electricity, water, the internet and housing – ought to be made available to everyone without difficulty. But as a society, we are failing to achieve this. I do not believe a solution is possible either. Inflation, unemployment and housing problems will continue to worsen.

[Tmoonz]

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.

I know the rate of inflation is increasing and it will definitely affect the price of renting houses, but the truth must be told. Most homeowners and agents are using inflation to their advantage to make more money.

If you compare the income of average people and the amount of housing, it is what most people can't even easily afford, but it just seems they are using all the money they make just to pay for housing. I feel the government needs to regulate the amount for housing because it is killing many people; even the least expensive apartments are costly, and the solution is not even getting a small one because it is still not affordable.

You amused me, like you don't know people that are in the government, like when we talk of landlords who are the major stake holders it's still them, so regulating the amount is never gonna work and as it stands now the common man has no choice but to comply till maybe things turns around, because the thing is really becoming unbearable, the cost of living is becoming something else now, then what time do one have to plan for a building if he's not in a well paid job, the whole thing is so confusing we only pray for God intervention.

[Callido]

•What could be the possible solution?

Nigerians are the only people who will relate more to what i am about to say. We are no longer facing the problem of inflation and housing but the latest problem is that with the housing agency, it mostly happens in the big cities.

Agencies now charge 20% of the rent amount, aside from the agency fee, there is caution fee and tenancy agreement fee paid to a lawyer, after summing everything all together, another 50% will be paid differently from the rent, my concern is that not everything is due to inflation, but people are greedy by putting high price tags on what is really not worth the amount.

[slapper]

We never actually interrogated whether concentrating millions of people in one expensive place was the deal we wanted or just the deal we inherited.

When it came to remote work, that changed all of that. Perhaps forever and ever, perhaps not. Hard to say. But what it showed is that the entire affordability issue is based on demand being artificially concentrated in about six or seven cities around the world. And when you decompress that, prices move. The "donut effect" can be used for this. Slowdown in demand for core cities, secondary cities taking up excess. But then return-to-office happened. Or partly happened. So at the moment nobody knows.

                 

There is evidence now on what housing insecurity effects psychologically. It is the so-called "ontological insecurity". Like your ability to form a stable identity literally depends on having stable ground to stand on. Once that is used up, the anxiety feels pretty similar to traumatic responses.

We commodified the one thing people need to feel okay. And then we wonder why no one feels okay.

[ZAINmalik75]

There is very high cost of living in many countries of the world, and inflation is the reason why housing is very costly at present. Initially, the cost of building a house was not much, by right now, building a house of your own is no longer an easy task. Right now because of how costly are building materials some people who are living in the city maybe have a plot of land to develop, they are now building tent, and thatch houses just to make sure they do not leave their job, and return home doing nothing. However, I still believe their is a solution to these housing problem.
The government should issue a regulatory order or policies, and ensure, any violation of these policies will be penalized severely, and government too should make good policies that will reduce cost of building materials, and ensure business people do not inflate the cost of building materials.

You're basically contradicting yourself by first talking about inflation and how it affects an economy and how the prices go up which has also caused the rise in the housing and building material, and then you say that the government should issue regulatory frameworks or policies to reduce all that. If the government of a country does its job the way it should be done, there won't be inflation to begin with, because no country in the world isn't capable enough to maintain everything without having to increase the prices of their goods or taking loans which basically becomes the reason behind it all.

Almost every country has some natural blessing, we call them natural resources, and they can be used to make enough money to control everything within the country because countries can export what they get from the earth. And, even if a country doesn't have natural resources, they can still have at least production of something that they can export to other countries and make good money and use that for the country. It is all about corruption that makes things difficult, otherwise, every country can be good.

[Kryptowerk]

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?

Just way too broad of a statement. I would argue that yes, urban prices have risen out-of-proportion in many regions that are well developed. There is a lot of speculation and complex other factors involved, though. Resource and energy prices exploding, the usual inflation etc. etc.
Still, many regions, especially more remote and less developed ones, but also those affected by climate change and its effects are still not only quite affordable but sometimes way more affordable than a few decades ago.

[Rengga Jati]

I thought this only happened in my country. It turns out the same thing is happening in various countries around the world: property prices are rising significantly, yet wages remain stagnant. Or if they do rise, the increase is negligible and doesn't keep pace with the cost of goods.

That is simply the nature of it. That is why real estate remains a valuable investment asset over time. Its value tends to appreciate. Consequently, many people choose real estate as a long-term investment. While certain factors can cause property values  to drop. Generally speaking, property values  tend to rise.

Agencies now charge 20% of the rent amount, aside from the agency fee, there is caution fee and tenancy agreement fee paid to a lawyer, after summing everything all together, another 50% will be paid differently from the rent, my concern is that not everything is due to inflation, but people are greedy by putting high price tags on what is really not worth the amount.

Can relate to my country too. The taxes levied are indeed high. Maintenance costs are, of course, high as well. And what’s sometimes truly shocking is the fee charged by estate agents. or perhaps by the agency itself. Sometimes, it’s not just for flats either. Even estate agents dealing with houses, land or other properties are absolutely outrageous with their price mark-ups. Not to mention that they also charge quite high fees. Ah, this often causes property prices to rise even further, due to the high costs incurred on top of the property price itself.

[Renampun]

•What could be the possible solution?

If this were in my country, the government here would provide a solution by offering affordable housing subsidies to minimum-wage workers who want to own a home.. the government provides subsidies along with long-term loan terms, so that people who want to own a home but have limited income can still do so.

Alternatively, people might move to areas farther from the city center, since suburban areas typically have more affordable housing prices for those looking for a home at a reasonable cost.. although this requires a longer commute, the more affordable housing prices should make it worth it.

[Joeboy]

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.

I know the rate of inflation is increasing and it will definitely affect the price of renting houses, but the truth must be told. Most homeowners and agents are using inflation to their advantage to make more money.

If you compare the income of average people and the amount of housing, it is what most people can't even easily afford, but it just seems they are using all the money they make just to pay for housing. I feel the government needs to regulate the amount for housing because it is killing many people; even the least expensive apartments are costly, and the solution is not even getting a small one because it is still not affordable.

You amused me, like you don't know people that are in the government, like when we talk of landlords who are the major stake holders it's still them, so regulating the amount is never gonna work and as it stands now the common man has no choice but to comply till maybe things turns around, because the thing is really becoming unbearable, the cost of living is becoming something else now, then what time do one have to plan for a building if he's not in a well paid job, the whole thing is so confusing we only pray for God intervention.

Well Tmoonz, I think that this Rent control laws and rules are already there in place, the problem is actually enforcement... And this enforcement is very much difficult because some landlords belong to the government, or have people already in the government... And for those landlords that are not in the government, well the enforcement cannot still be done because the government don't even care about the well-being of its citizens, and that's the simple truth, people should accept or leave it... There are some places in the country that even the government don't even have a clue that they existed, and the landlord in this places are like gods who do whatever they want... And as a matter of fact, even if the government knows those places existed will anything even be done about those rents? If don't think so...
The solution is just for folks to strive to be landlords themselves so that they would escape house rentage wahala...

[Etranger]

Unless I’ve misread the news, there was a housing problem almost everywhere outside the former Soviet states, or it’s on the rise.

In the Soviet Union itself, there were usually no problems with housing. Except for the problem that it didn't belong to the people, it was not in private ownership. It could only be privatized after the collapse, and not everyone succeeded in doing so.

At the same time, in the post-Soviet period, buying an apartment became very difficult. I, for example, belong to the generation of 90s kids who spent several years growing up in a developing economy, until about 2010, and then everything went down the drain. A one-room apartment in Kyiv costs from 70 thousand dollars (if we are talking about a new build). This is while the average salary in Kyiv is around 500 dollars. And apartment loans are practically not given. And even if they do give them, you will overpay at least three times for that loan. Therefore, we all can do the math. What are the chances that my generation will ever be able to get housing of their own?

[Leahized]

If this were in my country, the government here would provide a solution by offering affordable housing subsidies to minimum-wage workers who want to own a home.. the government provides subsidies along with long-term loan terms, so that people who want to own a home but have limited income can still do so.

In the past four to five years ago, the government of my state provided low income and daily wage earners who do not have a permanent address. Made a house for each of them. And made all the arrangements starting from the land for permanent residence. These houses are considered as cottage houses. Life for a day laborer reflected the good side. But unfortunately this plan has been stalled for two years after the change of government.

Alternatively, people might move to areas farther from the city center, since suburban areas typically have more affordable housing prices for those looking for a home at a reasonable cost.. although this requires a longer commute, the more affordable housing prices should make it worth it.

Yes, you can do that because land prices are very low in remote areas and you can easily build a house there. But not a good result for a corporate employee. Because even if it is a permanent residence, it will take a lot of time to travel and many people will not rush here for this problem. But most of the people in my state live in urban areas on rent which saves them money and also takes less time. I think this may be correct.

[Tmoonz]

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.

I know the rate of inflation is increasing and it will definitely affect the price of renting houses, but the truth must be told. Most homeowners and agents are using inflation to their advantage to make more money.

If you compare the income of average people and the amount of housing, it is what most people can't even easily afford, but it just seems they are using all the money they make just to pay for housing. I feel the government needs to regulate the amount for housing because it is killing many people; even the least expensive apartments are costly, and the solution is not even getting a small one because it is still not affordable.

You amused me, like you don't know people that are in the government, like when we talk of landlords who are the major stake holders it's still them, so regulating the amount is never gonna work and as it stands now the common man has no choice but to comply till maybe things turns around, because the thing is really becoming unbearable, the cost of living is becoming something else now, then what time do one have to plan for a building if he's not in a well paid job, the whole thing is so confusing we only pray for God intervention.

Well Tmoonz, I think that this Rent control laws and rules are already there in place, the problem is actually enforcement... And this enforcement is very much difficult because some landlords belong to the government, or have people already in the government... And for those landlords that are not in the government, well the enforcement cannot still be done because the government don't even care about the well-being of its citizens, and that's the simple truth, people should accept or leave it... There are some places in the country that even the government don't even have a clue that they existed, and the landlord in this places are like gods who do whatever they want... And as a matter of fact, even if the government knows those places existed will anything even be done about those rents? If don't think so...
The solution is just for folks to strive to be landlords themselves so that they would escape house rentage wahala...

Funny enough don't forget that even when forks strives to become landlords most of the time they have to travel out too and in search of greener pasture and definitely they are going to rent an apartment and for the time duration regarding the nature of work or service they went out there for, not everyone can become landlords and in everywhere they go. What is bad is really bad, whenever I look back at the way things uses to be before in this regard and now, it is really heartbreaking and to see how things kept getting worst every morning.

[Yeesha]

Funny enough don't forget that even when forks strives to become landlords most of the time they have to travel out too and in search of greener pasture and definitely they are going to rent an apartment and for the time duration regarding the nature of work or service they went out there for, not everyone can become landlords and in everywhere they go. What is bad is really bad, whenever I look back at the way things uses to be before in this regard and now, it is really heartbreaking and to see how things kept getting worst every morning.

You've said all that need to be said, and everything is nothing but the truth. It is impossible for someone to have or own an apartment in every state or in all the countries around the world. They might be a circumstance that you would travel to a different country or location for a job and your only option will be renting an apartment, unless you want to stay in your society forever. It is very hard to secure a land in a foreign country, talkless of building a house within a short period of time. Too much expectation can make someone to grow old faster. The situations we're facing now is different from then, because everything is becoming more expensive. I believe a lot of countries are facing same challenges, accommodation is very expensive but you just have to endure, especially in a situation where you are left with no option.

[pusaka]

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.

Yes, this is a more complex issue, as many factors influence it. In my country, housing has even entered areas that were previously unpopular. However, property developers see this as an opportunity, and there's a lot of demand for it.

Perhaps in 10 to 20 years, my neighborhood will be even more bustling. Data shows a higher birth rate, which means demand for housing will also increase. So, it's no surprise that housing prices will continue to rise year after year. In the last 10 years alone, we can see the population growth rate.

[ZAINmalik75]

Perhaps in 10 to 20 years, my neighborhood will be even more bustling. Data shows a higher birth rate, which means demand for housing will also increase. So, it's no surprise that housing prices will continue to rise year after year. In the last 10 years alone, we can see the population growth rate.

This has been an increasing issue in a lot of countries around the world. There is no population control, and this causes a lot of issues in the long-term because when there is no proper control over the population and people aren't advised to take care of this, problems such as a higher demand for accommodation and housing increase over time, but people and even governments often overlook this issue and don't give it much importance.

Even in our country, the prices of houses and properties keep increasing over time, and so is the population, which means that after a decade or so, both the prices of properties and houses as well as the population will be touching the sky. Places which used to be open fields in the past are now getting turned into housing schemes, and this is all because of the rising population.

Governments need to run campaigns and spread awareness among people regarding this to control it.

[SUPERSAIAN]

Here's the biggest problem people are moving to big cities for better job opportunities, and this creates a huge demand for housing. As a result, house prices have increased incredibly in all countries, especially in capital cities and other major cities. In my country, houses are still affordable in smaller cities, but they are extremely expensive in big cities buying a house has become impossible for people in those areas. I see no solution other than moving away from big cities.