10 ms·
It's not housing though. It's hotels - quite different. Rents have been climbing up for the past years (it's now worse than London or Munich) and they don't see
by zerogvt 8y ago
It's not housing though. It's hotels - quite different. Rents have been climbing up for the past years (it's now worse than London or Munich) and they don't seem to slow down. Tech boom (low taxation on tech firms), Brexit and AirBnB are the main drivers. People are coming in (quite often with fat paychecks) but few new apartments/houses are being build. New hotels will compete w/ AirBnB but will do little to alleviate the housing crisis(1).
1. It has been publicly recognized as such for quite long now. Crisis meaning that lower income families are unable to compete in this market (i.e. evictions and such). Also this is a hindrance to further economic development (who's going to work on all these new jobs when s/he'll have trouble making ends meet?). You get the idea.