Housing Crisis Threatens Economic Growth and Stability Across Europe as Construction Plummets and Costs Skyrocket
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Housing permits and construction have plunged across Europe as costs soar, threatening economic growth and political stability.
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Shortages are squeezing middle-class families like the Davids in Germany, who can no longer afford their dream home due to spiking rates and materials costs.
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The crisis stems from poor government policy, as the state has retreated from building affordable housing and left it to the private sector.
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In Sweden, housing shortages threaten electric vehicle battery factories that need workers; in Germany's east, lack of homes fuels far-right politics.
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Proposed solutions like incentives and deregulation may be too little, too late to address massive shortfalls in affordable housing across the continent.