11 ms·
Well that explains it doesn't it? One can cheaply employ your youth at bottom barrel wages and buy up or rent the real estate without competition with native p
by ty6853 2y ago
Well that explains it doesn't it? One can cheaply employ your youth at bottom barrel wages and buy up or rent the real estate without competition with native professionals. And I'm not damning anyone who does that, it helps the locals more than them not coming at all. The Spanish government has more or less set up the incentives to play out this way -- that Spain is a place to come on holiday or to retire but not a place for native educated professionals to partake in business.
- banqjls 2y agoBottom of the barrel wages for the uneducated natives are the result of uncontrolled mass migration - we have received millions of immigrants in the last decade, which has basically destroyed wages, and has made the poorest suffer. On the other hand real estate is held by wealthy old natives and laws are enacted to make sure that real estate increases in price forever, the young be damned - no one cares about them since our population pyramid means they’ll always be a minority.
- toomuchtodo 2y agoI’m very interested in understanding the challenges in building more affordable housing in Spain. Do you have any resources you’d recommend or be willing to discuss more offline?
- banqjls 2y agohttps://www.bbvaresearch.com/publicaciones/espana-motivos-tras-la-escasa-oferta-de-vivienda/ https://www.bbvaresearch.com/publicaciones/espana-motivos-tr... From last year. There is a version in English. Regarding renting, it’s legally almost impossible to kick out a squatter, which means most people choose to leave their empty homes closed instead of renting them, which, added to mass immigration, has led to a surge in rent prices.