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RE: House, Apartment, Studio, Room... Street? .:. Late Night Blogging
I wouldn't imagine telling this, but it's actually not a bad push by the government... If elderly people didn't have their own home, it could be much worse...
Elderly people used to go to a retirement home at a certain age. But now they are encouraged to stay in their 4 bedroom houses. Here in our neighborhood we have a lot of large houses being occupied by 1 or 2 elderly persons, sometimes far into their nineties that would have been better off in a retirement home.
Don't get me wrong; they fully deserve to live there. It's their house.
But if they stay in their houses, the new families can't go from their small appartements to a big house and the appartements will not be available for starters.
There just is no flow at the moment.
Retirement homes are a good option for those who want to live there, but there should be a choice too... Also, if those homes are affordable to everyone, that's not a bad scenario that you said... If not, I wouldn't be in the skin of a retired person who sold their house and can't pay a retirement home anymore...
You mentioned regulations keeping the market stuck... I would rather go in that direction to solve the issue, as blaming older people isn't a good way to do things... We will be old one day too... and maybe not willing to go to the retirement home... 😃
After deeper research, I found the information that 30% of Spanish banks' portfolio is in real estate... I think that we know who to blame for the "price bubble" here in Spain, as they don't put their real estate on sale... That's a lot of "locked" homes, which could host many citizens...
All in all, I do believe it's an artificial bubble created by banks and big investors... Controlling the offer, they push the price up...
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