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Unfortunately you’re right. Nowadays, many people here in Germany can afford a house or an apartment in the big cities only if they get some money from their (g

by baxtr 8y ago

Unfortunately you’re right. Nowadays, many people here in Germany can afford a house or an apartment in the big cities only if they get some money from their (grand)parents. I think one major reason for this is the free flow of capital globally. The effect in its extreme form: people get evicted, buildings get built/renovated (“Luxusbeton”), int’l investors buy hoping for ever increasing prices, apts stay empty. Insane

CodeWriter23 8y ago
As I walk around my Los Angeles neighborhood, I see about a dozen houses that appear to be completely unoccupied.
- icantdrive55 8y ago
  The wealthy of the world are buying up houses. And why not? They will be great investments for the next few decades. Their will always be poor/middle class individuals that need a room, especially in the desirable realestate areas. I'm almost ready to go back to Bush's liberal policy on banks, and mortgages. Right now, I have the house to my right is empty, supposedly owed by a Chinese guy who supposedly hasn't even been in the home physically. He bought it from China. The house to the left was just bought by a tech worker. A millionaire dollar house he uses on the weekend. (I'm glad he's not there all week, but it doesn't seem fair. A loud, passive aggressive guy at that. The guy moves in, and knocks on my door. He said, he like to do Google searches on his new neighbors. Yea, I was beyond astonished. A few years ago, I might have turned the fat guy upside down, but age has caught up with me.) Across the street, an industrious little dude, befriended a very old, lonely lady. She ended up leaving him the house. Her kids got nothing. He's renting out five rooms for over $1700-2200/month--each room. This is the Bay Area, but it just doesn't feel right.
wsy 8y ago
This is a bad side effect of low interest rates. If the interest rates were high, e.g. 5%, investing into unoccupied real estate would not be a viable investment.
- baxtr 8y ago
  That’s one major reason, for sure. Another big factor seems to be that people are moving their money out of their unstable home countries into save havens

by baxtr 8y ago

CodeWriter23 8y ago

As I walk around my Los Angeles neighborhood, I see about a dozen houses that appear to be completely unoccupied.

icantdrive55 8y ago
The wealthy of the world are buying up houses. And why not? They will be great investments for the next few decades. Their will always be poor/middle class individuals that need a room, especially in the desirable realestate areas. I'm almost ready to go back to Bush's liberal policy on banks, and mortgages. Right now, I have the house to my right is empty, supposedly owed by a Chinese guy who supposedly hasn't even been in the home physically. He bought it from China. The house to the left was just bought by a tech worker. A millionaire dollar house he uses on the weekend. (I'm glad he's not there all week, but it doesn't seem fair. A loud, passive aggressive guy at that. The guy moves in, and knocks on my door. He said, he like to do Google searches on his new neighbors. Yea, I was beyond astonished. A few years ago, I might have turned the fat guy upside down, but age has caught up with me.) Across the street, an industrious little dude, befriended a very old, lonely lady. She ended up leaving him the house. Her kids got nothing. He's renting out five rooms for over $1700-2200/month--each room. This is the Bay Area, but it just doesn't feel right.

wsy 8y ago

This is a bad side effect of low interest rates. If the interest rates were high, e.g. 5%, investing into unoccupied real estate would not be a viable investment.

baxtr 8y ago
That’s one major reason, for sure. Another big factor seems to be that people are moving their money out of their unstable home countries into save havens