A global housing crisis is suffocating the middle class

Between 2015 and 2024 , prices rose by 54% in the United States , 32% in China and nearly 15% in Europe .

The rise has been even greater in large cities; in some, rents have doubled during the same period.

Economic growth has been concentrated in a handful of metropolitan hubs, leading to fierce competition for housing, which in turn creates gentrification.

The housing crisis has even played a role in the presidential campaign.

Kamala Harris has proposed the construction of three million affordable homes in collaboration with the private sector.

The Bank of Spain calculates that the housing market needs 600,000 more homes to achieve balance.

In Italy , there’s much talk of a “housing emergency” and much debate over how to address the problem of tourist apartments.

France has enacted various measures aimed at slamming the brakes on rising housing prices.

Venice government approved another controversial law which, it argues, presents one solution to the housing issue: mini-flats.

Germany needs around 800,000 more apartments, a figure that has risen each year as construction slows due to high interest rates and the cost of materials and labor.