german housing affordability

You can still buy a house in Germany for the same price, in real terms, as you could in the 1970s. If I look at the example of my parents – they were in no rush to buy because they could live very well in rented accommodation. They put their money in a bank account and bought their first home when they were in their early 50s and it took them six or seven years to pay off a small mortgage. They were extremely relaxed about it.”

Dr Oliver Marc Hartwich talks about affordable housing in Germany, where 67% of households rent. Taken from the excellent “Are we better off renting?” article by Elizabeth Day in the Guardian (UK).

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