Perhaps instead of them being underpaid, could it be that you are vastly overpaid? Europe is not broken in this sense, this is important to not create income bubbles (looking at you, SF) and avoid huge income disparity. https://twitter.com/ZacSweers/status/1228205733302300672 …
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I mean, supply and demand works pretty well. Do you think prices would have gone up if there were 2 houses for every resident?
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The Chinese building boom begs to differ ;)
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The problem isn’t the availability of housing — we have a lot of construction going on. It’s that people are making a shit ton speculating on the value of residential property, and nobody wants to see prices fall at any point. Not owners, not banks, not pension funds investing.
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I don’t know enough about Arnhem, but the Randstad definitely is not building enough. But I think you’re pretty close to the truth with owners and banks not wanting to see prices go down, so lots of folks prefer to err on the side of not building enough.
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