They only construct the super luxurious condominiums. The reality is that for decades less new houses have been built than needed. And the gap was only widening with the years.
Prices now are decreasing because of the higher interest rates and the high inflation, so the majority of the people have even less disposable income at the end of the month. So they didn’t get any cheaper for regular people.
Nothing was solved regarding home supply. In fact, the opposite happened. No new construction is ongoing.
Once their economy recovers, prices will again rise.
oh, construction is happening here and there. But it’s basically all super expensive luxury apartments
They only construct the super luxurious condominiums. The reality is that for decades less new houses have been built than needed. And the gap was only widening with the years.
Prices now are decreasing because of the higher interest rates and the high inflation, so the majority of the people have even less disposable income at the end of the month. So they didn’t get any cheaper for regular people.