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Something I read in the German news today: real estate prices are going to drop all of a sudden. I wonder why?
Sauce: https://www.spiegel.de/wirtschaft/immobilien-in-den-grossen-staedten-sinken-die-preise-a-d3d9da0e-7f83-4fda-8ff6-5b977d49a2b4
"For fifteen years, prices for houses and apartments in Germany rose rapidly. That now seems to be over: In some metropolises, the trend has already reversed - and that also has consequences for tenants."
I rent now, after owning a house and then condos. My rent is 1,995 in a decent middle-class area. To buy at the current price of 500k would be 100k down and 2,800 a month including taxes and Ins. (Bankrate mortgage tool) but I'm pretty sure they are lowballing the taxes and insurance, then you have main't. House is in pretty good shape but will need rewiring, it was built in the mid-50s. As an almost 64 y/o there is no incentive to buy. Kek
Yeah, same here. I rent for a really good price, building a house would kill me financially. Here in Germany 500k is now a minimum, and that's without taxes and interest. Not doable at my age of 49 with a fam of four.
Crazy, and modern houses don't last centuries like some older homes do.