
Housing markets around the world are in uncharted territory. In many cities, it has never been harder to find a home, with properties in short supply and rents at record levels. In this edition of Business Beyond we visit some of the housing crisis hotspots: Berlin, Hong Kong, Shenzhen, Vancouver, New York, Dublin and Tokyo. Are we too late to prevent a global housing disaster?
CHAPTERS
0:00 Intro
0:53 Berlin rent rebellion
3:33 Hong Kong high house prices
5:23 Shenzhen sprawling
5:50 Evergrande crisis
6:12 Vancouver rents rising
8:59 New York eviction tsunami
11:25 Dublin doubling rents
13:28 Tokyo housing surplus
15:08 Outlook
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How is the local housing situation developing in your area? Are you seeing it becoming more problematic?
Home prices are out of roof in Toronto Canada
Its nobodies fault that uncompetitive people breed out of control. I'm not even smart but I have my own house
Friendly Russia would take care of your situation. Nuke your city, population will drop drastically. Problem solved! Good neighbor in it?
Here in Jakarta housing prices since pandemic have remained flat dan the Occupancy Rate is declining due to WFH hence the rental rate is decreasing. Anyone wanna move to Jakarta? Its a great place for westerners to spend their $$$ and exercise their white privilege here.
Hello white man you have been rob of your land and your own white people make you into slave ,. Long live communism the land of free world ,, communism win 🥇we live on land for free
Once we start banning Chinese from buying up the world's properties, we will head back to normal. Also, China should quit building these empty cities for sake of growth
Africa is aways ignored in talk about global issues. Yet we in South Africa also have a huge housing crisis in big cities like Joburg and Cape Town. Great content, just breezed passed a whole continent.
Foreigh buyers 1%, total BS.
Yes it is a problem here too
Greed theses prices are criminal housing is a right
how did new zealand not make this list??
The housing problem is a job market problem. Most jobs are in capital cities. With the pandemic, things started to change, but if hybrid/remote working does not become regulated, both markets (housing and job market) will remain critical quarter after quarter.
Japan is not comparable. In Japan the older the house gets, the less it's worth. Older houses are not seen as desirable due to old building methods that are not up withstanding earthquakes. This means that they must continually keep building new houses to replace the older one. Hence, such a high rate of building.
Go live in the villages and stop complaining u just love things
WHY ARE SO MANY PEOPLE LEAVING THEIR ORIGINAL RELIGION AND JOINING INC?
IF one only monitors the trend of every religion today, the unique advancement of IGLESIA NI CRISTO COMPARED TO OTHER RELIGIONS THAT ARE SPREADING ALL OVER THE WORLD today is quite remarkable. Perhaps many have asked themselves why INC is growing so fast, and many have left the old religion?
The spread of Iglesia Ni Cristo can be counted on the kind of successful work of God. During its early years, priests and even CFDs as they were called, as well as protestant pastors focused opposition to the Ministers of Iglesia Ni Cristo in public doctrinal discussions, while their members were thoroughly DESTROYING and PERSECUTING. But the Church is fully committed. The detractors were united in trying to block the progress of the Church of Christ but they failed to prevent it from spreading the pure Words of God. That is why Iglesia Ni Cristo is now widespread throughout the WORLD and CONTINUES TO PRODUCE PEOPLE WHO LEAVE THEIR ORIGINAL RELIGION and are currently in at least 98 countries and territories.
Other churches of other religions have literally been closed due to the constant rejection of the worshipers. owned in various parts of the world, which is more than a church building that they once owned is now owned by the Church of Christ and neither renovated or completely replaced with new and large Church Buildings. It is true that many people question the course of the Church despite what other religions are now experiencing in the Global Crisis, but it has not been an obstacle to God's work:
Isaiah 54: 2-3
"Clean up a lot of land for your tent! Make your tents big. Spread out! Think Big! Also use lots of ropes, make the stake deep. That you need a lot of elbow room for your growing family. That you're going to take over the whole country; You're going to fix the abandoned cities "[The Message]
Five years after He was installed, Brother Eduardo V. Manalo, as General Manager, has dedicated to God a large number of Church buildings in the Philippines and abroad. On the same note Even among those who studied ministry in the College of Evangelical Ministry, the number is growing.
These events were a manifestation of God's guidance to his people. What is the Cause of God's work in this very fast work? This is because "…. GOD IS DOING THE FINAL WORK OF PROVIDING SALVATION …" [Romans 13: 11-12, THE MESSAGE].
As everyone has noticed, the members of Iglesia Ni Cristo tirelessly invite everyone to listen to the lessons it teaches, which is currently building many Church Buildings in every barangay and remote area so that fully bring to man the Pure and true Doctrine that God wants man to know.
In our previous articles, we have extended human methods to better prepare for the BIGGER DAMAGE that must be better prepared, so this is how hot the efforts of INC Affiliates are to encourage more people to know this fact. Yes, it is true that some people do not know about these events around them because it is not IMPORTANT TO THEM what is happening but they want to know.
Impress the investors with visions and earn the trust through unequivocal execution of meticulous town planning policies are the only way to obtain funds
Happening worldwide. No more living indoors.
We need more houses but also more regulations. If a single investment company can own thousands of properties and keep aquiring more and more they are essentially scalping the market. Even if we increase the supply the problem will persist if corporate landlords don't have any sort of limits that stops them from absorbing that supply.
I love the synthwave beats
Monaco has the most expensive real estate market in the world but it seems not a problem to the UHNW people live in there.
I wouldn't even have a problem paying higher prices if my salary were able to keep up. Why do companies act like they're doing us a favour by doing the bare minimum? Why we only get 3% wage rises while they make record profits and then have the audacity to act shocked when we turn around and say it's not enough. And then suddenly they're skint even though they just said they set a new record in their weekly bragging at a shareholder meeting.
Haha living in HK. It's rough all I got to say.
It's almost like excessively low borrowing costs are bad for the everyday person.
I'm from Dublin. I pay about 1200 euro per month for a pretty small studio apartment. The quality is decent but it's just a small studio in the end of the day and this is considered below average for Dublin. It's complicated by the fact that w/ my autism I can't imagine I would manage well moving in with a stranger to get cheaper rent; but I hope maybe I could work something out maybe move somewhere w/ a friend together or if I'm in a relationship. But right now, it's pretty damn expensive.
A Cap or making Germany to a communist country wont help
"You will own nothing, and be happy", the peasants buy into it, like communism in the past, and it never made anyone happy then, why should it now
China didn’t allow people to move to Hong Kong . They let more people to go there to travel for one week or two and spend to save the hk economy. And the rich in mainland did get better chance to buy stuff there housing mainly. When u have rich people no matter where they came from who want to buy from u the prices go up true. No one can resist the money bomb that’s all.
*Packing bags for Japan. Good bye Canada lol
In Korea, we have the same situations. But It seems to be Chinese property speculators that move up our housing prices, Many people says. This is based upon our unpleasant experience that Back a decade or so, we experienced the same thing in Jeju Island(Korea's southern exotic island) that had seen massive influx of Chinese emigrants. Honest to say, Housing prices can not be all explained in terms of demand & supply. It maybe very naive think.
Government rent control and in particular,specialty subsidies tax incentive construction plans seem to work out best.
I think we can all agree that landlords think they're doing good by buying up properties and renting them out, but in reality they're just greedy bastards profiteering off people who aren't as advantaged as they are.
deregulating housing markets and opening up borders to mass migration surely didn't help.
I'm living very close to Paris and when I signed my contract 3 years from now , before signing I told my tenant that my rent was variable on the contract and that it was a bit unsettling to me, he then told me ok let's make it a fixed price (he usually had people leaving after 1 year) I can't explain how much I'm glad I bargained that because nowaday you can't find anything at this price range anymore, the price went up 100-200€
Berlin housing prices may rised a lot, but it is still cheaper than Frankfurt or Munich
For DW, this was rather sub-par, very superficial. I know there's time constraints, but this video doesn't even attempt to answer it's titular question. How can you discuss the global housing crisis (in developed nations at least) without even mentioning the global economic fundamentals underpinning this problem?
– No mention of the financial practices which allow this (REITs, private equity firms); more fundamentally the commodification/financialization of housing which, combined with the lack strong legal controls, has made housing stock more like stock/shares (cf. liquidity spectrum) which has led to rampant speculation and a highrise construction boom globally. These new units are safe stores of value or investments for the ultra-rich both legit and criminal, and are often uninhabited, or barely used. It used to be mainly the ultra wealthy from China, petro-monarchies and Russia saturating cities like Sydney, Vancouver, NYC, etc., but now it's the wealthy everywhere moving money around to find the next great city with 'upside potential' like Berlin, Montreal, and other Beta cities etc.
– No mention of the massive, repeated use of QE (quantitative easing) by central banks of the largest economies nor the ridiculously low interest rates since 2007 which have completely doped the markets. This has poured trillions into the markets and real estate while making the cost of borrowing very low. What are banks doing with this money? Banks aren't lending more to middle class people, in fact rules to qualify for a mortgage have tightened almost everywhere, and they don't lend to the poor, so this has just increased the borrowing power of those already rich or very rich. They pour more money into real estate directly or indirectly thereby driving up the purchase and rent prices.
Furthermore, and this is not insignificant, there's no mention either of the malignant influence of globalized criminal syndicates in the construction-money laundering complex. It's been a preferred strategy of theirs since at least the 1950s and now it's on steroids. I've lived in NY, Toronto, Montreal, London and Berlin–same everywhere. From construction companies themselves, shell companies, opaque banking localities often offshore, etc., they contribute a lot to rising prices in cities.
This theme deserves a series, please DW.
where I live in Wales, in cities around where I live prices are up about 20-50% on pre pandemic levels. the cheapest houses usually bought by first time buyers have seen the biggest increases. people are moving in from cities in England to remote work here because prices are still much lower. problem is wages are lower here, and there's nowhere cheaper for us to go.
In São Paulo and Rio de Janeiro is possible to find houses that the rent is US$ 1.500 per month. But the minimum wage, in Brazil is US$ 200 per month. Then, a lot of people move for small or medium cites or will be live in very far from downtown. I know some people that spending 2 hours to commit home to work and more 2 yours come back to home. A lot of people living only for work because of that.
global icon awards
highly not accurate, that's bc you focus on the downtown city area. But drive 45 minute outside of downtown, there's home in the suburb that are very affordable in all of the city that you mention.
Um. How can we be like Japan? Please? Thanks.
11:53
Is he confused or actuallyupset because developers build more homes? It is astonishing how people do not understand that the reason rents are going up is that there are too few rentals and not because there are too many. Build a million rentals in Dublin and watch rents drop like stone and landlords headhunt the homeless to live in their vacant apartments.
Developers who build are enemies of rentier class and friends of the poor.
In the US homes are becoming unaffordable overnight. It looks like an irrational bubble, but Im becoming increasingly worried that we are simply joining the trends of others
I fail to see how this is a “problem”. I bought my first investment property years ago and its tripled in value since then which is great for me. People just lack foresight of buying property when it was cheaper and now want to blame everyone else. Or they work in jobs which dont pay much. Basically people make poor decision. But im happy – have plenty of tenants desperate to move into my houses