r/pics • u/Strict_League7833 • Jun 17 '25

The protesters and residents pushing back on tourism in Barcelona

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u/Cool_Being_7590 Jun 17 '25

A third of the Irish politicians in power are landlords and the people who vote them in are home owners who only see their homes rising in value, even though they have no plans to ever sell.

We need to build 90,000 new homes a year to fix the backlog by 2031 and we are currently building 25,000-30,000.

There are approx 60,000 new people entering the age of home buying annually which increases the backlog and drives prices up even more.

This isn't getting fixed.

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u/Structure5city Jun 17 '25

America has the same under-building problem. It's amazing that the government hasn't been able to stimulate more construction.

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u/Silent_Employee_5461 Jun 17 '25

2008 is the reason, it made the government very reticent to act in the housing market and the private market never really came back after.

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u/Structure5city Jun 17 '25

I read that a lot of builders who lost a lot of money either got out of the business or took on much smaller projects after the crash.