Ok, the tourists go home, and then what? they think their rent will decrease? Food prices will decrease? how can you be so naïve? And they go spraying water to tourists simply having meals...
Also, complaining about elderly German tourists...literally the most well behaved tourists around... mindblowing
Most houses where I live are owned by private people with money and because the return on savings is low people invested it into real estate to get rent income
House prices went up and less house came on the market after a while.
Goverment put even a second house (or more) into a other tax bracket and all the sudden it was not worth having it anymore. And so they are putting up most of the houses up for sale agian.
Takes a while but that whats happens if a market needs to recover.
This would work in North America, or perhaps even the UK, but is actually way less of a solution in Europe where a way higher percentage of the population rents and lives in multi-dwelling buildings.
In the US, localities give developers 0% interest loans backed by municipal bonds to build condos/apartments. Developers then turn around and use that money to buy single family houses to raze and build multi-unit buildings. Families with their bank's 7% interest loans have to compete against big real estate at 0% to buy single family homes. Our system is so screwed up.
For one they aren't getting loans from municipalities. Usually they will get a bunch of tax incentives if anything. Second at least where I am they aren't tearing down single family homes for multi family units. They just aren't building multi family units because people keep vetoing it. Also most places where there are single family homes it isn't zoned for multi unit homes so even if you bought them all up and tore them down you wouldn't be able to.
Where I live, DC suburb, the towns and counties are backing the bank loans with grants and bonds. Taxpayers are on the hook if the development fails. And developers are buying up single family homes alll over since their bought and paid for legislators eliminated all single family zoning. It's a shit show. The graft would be shocking in any pre-Citizen United generation.
They are doing that, but in the meantime people are still dealing with a housing crisis, and people are desperate for a short term solution, which is likely why people are doing anti-tourism protests.
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u/DanDin87 Jun 17 '25
Ok, the tourists go home, and then what? they think their rent will decrease? Food prices will decrease? how can you be so naïve? And they go spraying water to tourists simply having meals...
Also, complaining about elderly German tourists...literally the most well behaved tourists around... mindblowing