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Completely agree. We were low-key searching to buy a flat, but every time something interesting came up, we calculated it and it was completely unreasonable. Makes way more sense to put the downpayment into ETFs and wait 20 years while renting 😕 Housing prices here seem to drop a little, but now with the rising interest rates, getting a long term loan would be nearly insane.

the housing market is not really regulated against price hikes driven by profiteers around here, that's what we get for it

it's also nuts in southern sweden

we bought before it started but it's frightening to see house prices basically double in a couple of years

lots of people buy, stay a couple years then sell for profit, then move further away in-land, wait a few years, then sell again for crazy profit etc etc

Our city now starts to buy premises, and has the right to buy any premise a private investor is interested in (for the same price). They plan on only “renting” them to homeowners (who buy or build and therefore own the house built on that ground) for 99 years at a cheap rate, so nobody uses them for speculation. The city of Ulm does this for ages now, and they have reasonable prices (in comparison). I like the approach, but it’s too late

geneva had the same issue in the 90s, driven by different buyers (financial institutions mostly and investment firms), then they set laws limiting the sale for profit to only be allowed to happen after a number of years (initially 5 iirc, now a lot more I think)

Copenhagen doesn't really do anything about it. A large part of city's income comes from real estate development, so they hate to see prices fall in any way.

given how it is in Stockholm I guess they won't do anything here either

In general, Danish politicians all try to placate existing home owners, so the policies are all tailored to their needs. Real estate taxes have been frozen for more than a decade now.

Here in Freiburg the city is building a completely new district in the fields next to the city with a focus on young families and some welfare-supported-flats, which is considered to be a “far-left” move by many. They plan to keep the whole ground as property and manage everything themselves. Would be a great opportunity, but due to the rising interest rates the bank who supported the city dropped out, risk too high. Now the city tries to build it on their own, which is also a risky move. We are on a waiting list, let’s see what the prices are like.

I am a bit worried about some people around us who bought in that market and now are at the mercy of interest rates. rentals are also nearly non-existent so it's not like you have a choice

We also looked into creating a housing-cooperative with some friends, that’s a thing that comes up more and more again.

yeah the new build here are very high price here. You get a small appartement for the price of a 200sqm house 5-10 years ago

coop is not a bad idea

almost went that route

The hope is, that the flats and houses built there are cheaper, because you don’t buy the land they are built on, only rent it. That takes 300k-500k of the bill for a house, and a share of that for flats

(and adds 400-500€ of rent for the ground per year, later)

We live in a coop now. The issue is that the flat is now too small and this is the largest type of flat in the coop. The other issue is that coop prices do not follow the market, so we will not really be selling at a profit like people who bought proper real estate. My friends who bought a flat a 3-4 years ago just earned 1.2 million DKK in that time they can put into a house, while we do not see that kind of profit from our coop flat. I don't think I'll ever consider a coop again.

unless you're buying your forever home, it's a dead end

Yeah, the price stability would be a good thing if everybody did it, but if you need to sell and move again it sucks

We’re looking to buy a house in Northern Jutland, but there are so few being sold. The worst market for buyers in 15 years, according to some. And though ideally, we would have moved already, maybe it’s for the better that we haven’t found anything yet, since prices are so high currently. Crossing fingers for a drastic fall in prices anytime soon 🤞🤞

I don't think prices will fall markedly until people start losing their jobs

yeah unlikely, best case the increase slows down

Well, fuck.

sucks to have a problem that affects your life so deeply and is so controlled by external forces

it really does.

but it is the wealth transfer that is most aggravating. I work with 60-year olds who literally have paid off their homes and who now have 0% fixed mortgages on their beach houses... and they talk about those beach houses all the damn time at lunch... meanwhile people looking to enter the market need to pay 3x what they do.

and you of course know about the frozen taxes on real estate, @U0AQ3HP9U 😛 hurry up and get the new system up and running, please.

I’m trying 😓

That’s pretty, but it looks extremely dry

yes, it's been a bit hot recently. Don't know if you noticed 😛