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Home price inflation is so high, it's changing American economic life
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this post was submitted on 19 Jun 2024
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It's not just the US.
In my home country, Portugal, there is a massive house price bubble (especially in relation to the average incomes over here, which are much lower), so over half of young University students are leaving the country when they graduate, the average age for people leaving their parent's home is 34 and young adults have children later and have fewer of them, all in one of the most aged countries of Europe.
Whilst I don't expect all of the same problems in the US, things like delayed parenthood and lower birth rates tend to really fuckup up the Economy over the course of a couple of decades since they lead to falling populations and importing people from countries with lower educational standards doesn't exactly help a country's Economy keep high-value-added industries running.
I wonder what all these countries with rising housing costs have in common.