3 ms·
Can't deny it is a factor. Not a single mention in the article though, of course. It's all discussion of the resulting effects, and the supply side. Demand sid
by HPsquared 3y ago
Can't deny it is a factor. Not a single mention in the article though, of course. It's all discussion of the resulting effects, and the supply side.
Demand side has multiple parts:
- National population growth (migration, as fertility rate below replacement)
- Money supply inflation (government spending, mortgage borrowing, years of artificially low interest rates) allowing people to bid up prices
- Urbanization (office jobs and universities); people within the country move to the big cities
- Social atomization (more housing needed per person)
(EDIT: Ageing population too: children tend not to have their own place)
- Nitrolo 3y agoDepending in the demographics, a fertility rate below replacement level can still lead to a rising population even when excluding migrants, as the people who would be "replaced" by the new births might live for many more decades. I.e., we'd probably still have a housing crisis in Europe even if not a single foreigner came in.