417 Years Of Saving To Buy A House! (the shocking truth about homeownership)
A lot of people dream of becoming a homeowner. But few people know how long it would take them to purchase a property outright with cash – especially if they are first-time home buyers. Do you know? How long do you have to save to buy a house or a home/apartment? (or how to save for a house at all)
Would you like to know in which countries you’ll have to save the longest to be able to afford a home? And which countries are the most affordable when it comes to purchasing property? The UK-based price comparison service Uswitch has investigated this question and looked at the OECD data of 29 different countries including the United States, Mexico, Canada, Australia, the Scandinavian countries, the UK, Germany, France, and many more.
The results of the USwitch homeownership study are quite fascinating, showing that in some countries it can take you up to 417 years to finally be able to afford a home – you would literally have to live 5 lives in this very well-known country to finally be able to purchase a home / property IF you were not able to take out a mortgage. By contrast, in other countries, it “only” takes you 34 years. So in this video, I’ll a closer look at the used homeownership data and consider the three factors that influence how long you’ll have to save to buy a home / house.
OTHER LINKS:
○ USwitch Homeowner Study:
○ OECD disposable income per capita:
○ OECD savings rate:
○ Numbeo home and apartment price data:
○ Cultural attributes study:
MUSIC:
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