The housing crisis across Europe poses significant challenges for democracies, as soaring rents and home prices consume residents' incomes, especially among the working and middle classes. Many cities report staggering year-on-year rent increases exceeding 10%, leading to homelessness and cramped living conditions. The crisis intensifies political disenfranchisement and fuels far-right sentiments. Wealth from housing increasingly concentrates among a few financial entities, exacerbating inequality and affecting minority groups. Institutional investors now manage vast sums in real estate, shifting power dynamics away from local residents towards those profiting from housing markets.
The housing crisis in Europe is as big a threat as Russia, with soaring rents and house prices leading to political disfranchisement among the working and middle classes.
Residents from Dublin to Milan are facing situations where half of their incomes are consumed by rent, making home ownership unattainable for many.
Housing has become a primary cause of suffering in Europe, driving homelessness and exacerbating inequality, especially among minority groups.
The housing crisis has resulted in a significant transfer of power from local residents to financial institutions, with $1.7 trillion in global real estate now managed by these entities.
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