RE: House, Apartment, Studio, Room... Street? .:. Late Night Blogging
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Hey! That is Alicante! I stayed in the Melia Hotel on the pier a couple of times when I was in Alicante for work.
Hehehehe... You recognized it well... It's Alicante photographed from the Santa Barbara Castle... 😃 But, in the post I was writing more about Valencia, as my son is going to the University there...
The government 'forces' elderly people to stay in their houses as long as possible.
I wouldn't imagine telling this, but it's actually not a bad push by the government... If elderly people didn't have their own home, it could be much worse...
I'm really curious if we will get out of this impasse because I do want my kids to be able to be able to live on their own in a couple of years.
It's hard to live with parents when you are an adult... It could sound nice moneywise, but it's not good for anyone...
Elderly people used to go to a retirement home at a certain age. But now they are encouraged to stay in their 4 bedroom houses. Here in our neighborhood we have a lot of large houses being occupied by 1 or 2 elderly persons, sometimes far into their nineties that would have been better off in a retirement home.
Don't get me wrong; they fully deserve to live there. It's their house.
But if they stay in their houses, the new families can't go from their small appartements to a big house and the appartements will not be available for starters.
There just is no flow at the moment.
Retirement homes are a good option for those who want to live there, but there should be a choice too... Also, if those homes are affordable to everyone, that's not a bad scenario that you said... If not, I wouldn't be in the skin of a retired person who sold their house and can't pay a retirement home anymore...
You mentioned regulations keeping the market stuck... I would rather go in that direction to solve the issue, as blaming older people isn't a good way to do things... We will be old one day too... and maybe not willing to go to the retirement home... 😃
After deeper research, I found the information that 30% of Spanish banks' portfolio is in real estate... I think that we know who to blame for the "price bubble" here in Spain, as they don't put their real estate on sale... That's a lot of "locked" homes, which could host many citizens...
All in all, I do believe it's an artificial bubble created by banks and big investors... Controlling the offer, they push the price up...
Oh, I don't blame the elderly. There are just no sufficient places for them to move into, so even if they want to move, they can't.
It's just a continuous loop in which we are spinning... running like a hamster on the wheel...