pmrcunha on Nostr: On real estate prices in Portugal: don’t think Blackrock is the issue here as Katie ...
On real estate prices in Portugal: don’t think Blackrock is the issue here as Katie was saying (at least never heard about it).
The money printer obviously had a big effect, but also the fact that Portugal built half the amount of housing it used to in the last 20 years.
Immigrants probably had an effect in expensive real estate only, which should actually stimulate new construction elsewhere.
The problem is that approving a construction project is a bureaucratic nightmare that takes years (Chris Liss (npub1dtf…hgu0) mentioned it took him 4 years in a recent podcast episode).
The rental market is tiny, because you’d be crazy to rent out your apartment with the current laws.
Buying a house involves paying 4 related taxes and 23% sales tax in building materials will be passed to you by the builder.
All this to say, there’s more ways for politicians to be incompetent than money printing.
https://fountain.fm/episode/DytD53ZzWpTLCYM2tzbI
The money printer obviously had a big effect, but also the fact that Portugal built half the amount of housing it used to in the last 20 years.
Immigrants probably had an effect in expensive real estate only, which should actually stimulate new construction elsewhere.
The problem is that approving a construction project is a bureaucratic nightmare that takes years (Chris Liss (npub1dtf…hgu0) mentioned it took him 4 years in a recent podcast episode).
The rental market is tiny, because you’d be crazy to rent out your apartment with the current laws.
Buying a house involves paying 4 related taxes and 23% sales tax in building materials will be passed to you by the builder.
All this to say, there’s more ways for politicians to be incompetent than money printing.
https://fountain.fm/episode/DytD53ZzWpTLCYM2tzbI