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Germany is special in more ways than one, as I understand owning isn't so heavily subsidized vs. renting there compared to other western countries. It's at leas
by vintermann 7y ago
Germany is special in more ways than one, as I understand owning isn't so heavily subsidized vs. renting there compared to other western countries. It's at least far more common to rent in Germany.
You also ran pretty clear of the housing bubble. I wonder if there's a connection there.
- pintxo 7y agoI'd argue that the connection is that owning real estate here is not as heavily supported by the overall tax and financial framework. Two examples: Mortgage payments are not tax-deductible and and you are personally on the hook for the mortgage, as in you cannot send the keys to the bank and simply walk away without debt.
- pjc50 7y agoThose are also true of the UK with its massive property bubble, although curiously landlords can deduct mortgage from tax but owner-occupiers can't. I think the real difference is that Germany has proper tenant's rights and a functioning social landlord system.