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RE: House Prices to fall, but rents to rise in 2024...?

in LeoFinancelast year

We have a huge housing problem, that recently peeked in Portugal, and more specifically in the Lisbon and Porto cities. Much of that due to the pressure of the digital nomads that started to choose those cities to live. Fortunately I bought my house in August 2010 (paying the monthly instalment on my bank loan), but very "under" the normal values for the area... I just asked for 70% of the flat value, and I picked a humble flat, since I was single then (and I continue to be... 😅) didn't want to give a larger step then what I could afford... But I know so many younger folks that I have to split house with 2 or 3 other persons to ensure that they can pay the rent... A true disaster...

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Sounds like that's localised, but it's a thing for sure, the rich pushing the poor out!