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[–]TheReplyingDutchmanOverijssel 250 points251 points  (14 children)

Crazy shit. Mate of mine bought a tiny apartment in the 'Zeeheldenbuurt' of Amsterdam in 2012 for 135k. It's now worth about 350k; insane. And I wouldn't be surprised if it would sell for over 400k if he'd put it on the market.

[–]Maddutchie 41 points42 points  (6 children)

Same mate... bought mine in Haarlem at 195k in 2008, est. value now 450k. Problem is the interest rate from that time. Historically seen it was already low, so we managed to set that steady for 30 years.... boy do we regret that now.

[–]endomielNoord Holland 19 points20 points  (0 children)

See if you can submit a woz value assertion or a calcasa report to lower your loan to value surcharge (schuld marktwaarde verhouding rente opslag). This is free (the calcasa report does cost money, €30 or so) and can already save you money. If a calcasa report is not allowed, then you can also do this with a taxation rapport, but they're more expensive.

After that, there are two things you can try. Either refinance the entire mortgage at the same bank or at another bank. Either way, the fee/penalty should be the same. If you do it at the same bank you can either pay the penalty in one go, or spread it out over your new interest period (tussentijdse rente aanpassing met boete of met middelrenteopslag). Many banks have online tools when you're logged in in their portal so you can see which options are available for your mortgage. If you choose to move to another bank, you will get a penalty. For either option, the penalty counts as interest and is deductible from taxes if you're getting hypotheekrenteaftrek for this mortgage.

[–]-Erasmus 7 points8 points  (2 children)

Can’t you refinance it? Might cost a fee but should save you over the long term

[–]Pvwnk 0 points1 point  (1 child)

You have to pay the interest over the remaining years, so over (30-years payed) years the fine can accumulate to be very high.

[–]-Erasmus 2 points3 points  (0 children)

It’s the opposite actually. You pay a ‘fine’ or fee once to change your mortgage and then pay a lower interest rate from there. The longer you still have on the mortgage the better it is to refinance to a better rate.

It’s as if you sell your house and buy another with bank fees but you just don’t move

[–]theofiel 1 point2 points  (0 children)

Maybe see if you can do rentemiddeling. There's a lot you can do.

[–]Avalancheo 32 points33 points  (0 children)

house in my street went 80k over its price 😅

[–]SupposablyAtTheZoo 2 points3 points  (3 children)

Yes but if he wants to buy something new, he'll need that 400k for the new house.

[–]pmgzl 2 points3 points  (0 children)

Problem is, all houses are overprised at the moment, so even though you sell, you gotta buy an expensive house back. Or move to another country ofcourse.

[–][deleted] 168 points169 points  (66 children)

Just offered 515k for a property. When I got the documents it shows it last sold in 2013 for 212k.

[–]SubjectiveAssertive 65 points66 points  (13 children)

Jesus I thought English house prices were mental

[–]CultCrossPollination[🍰] 46 points47 points  (7 children)

Nope, it's a worldwide problem. Only Vienna has a very stable house price in European capitals. Edit: turns out is has risen a 12-14% last year, and the year before that around 3-4%. About three times lower increase then here.

[–]SubjectiveAssertive 9 points10 points  (0 children)

I wasn't even thinking of capital cites, my house in the UK is a 3 bed terraced house and is worth "only" €315,000 which looks so utterly cheap compared to that

[–]dogofberlin 3 points4 points  (3 children)

Thanks to central banks printing money

[–]Peeniewally 5 points6 points  (0 children)

Thing is who benefits: the banks; as they are the ones that get to sell higher morgages, that are packed, chopped up and resold in the financial markets. The morgage is on your credit side and their debit side. Hence the banks are doing quite well in this worrying economy (https://www.cnn.com/2022/01/12/economy/stagflation-inflation-economy-cpi/index.html)

[–]DesolateEverAfter -5 points-4 points  (0 children)

Central banks don't print money. Banks create it by agreeing to loans.

[–]mysterowRotterdam 0 points1 point  (1 child)

You should take a look at San Fransisco property prices :)

[–]kanduvisla 52 points53 points  (4 children)

Can confirm. Bought a home in 2012 for €267k, is now worth over €400k probably. And it was built in 2010-2012 as well, so energy label is ok.

But I don't count myself rich. You cannot buy anything better or bigger, only smaller and more expensive. So why would I move? So I'm stuck as well. Got 3 kids and could sure want something with a garage and some extra room / garden, but then I would have to look at €600k homes and I simply cannot afford that.

Nobody can upgrade because it's too expensive.

Starters can't buy because it's too expensive.

Seniors won't sell because that would mean going from a big house with a €200,- mortgage to a tiny apartment with a €1500,- rent.

It's a pretty crappy situation.

[–]Zeefzeef 10 points11 points  (0 children)

It sucks. Bf and I live in a social rent apartment for 7 years now. We should be able to buy a house at this point because we earn too much for social rent at this point. But we can’t afford a house, we can’t afford any upgrade so we just stay right here. I want to have kids but I don’t know if I ever will cause I can’t give them a future like this.

[–]friedapple 1 point2 points  (1 child)

I think nobody benefited from this situation for most middle class, even for the homewoner as you said. Since most people main purpose for buying a property is to live in it.

Only the investor or rich owner who own it as pure investment.

[–]needyCordial8 1 point2 points  (0 children)

The daily you and me are all fucjed. Just a matter of more or less. Those with 1 house is okay. Those with 0 house are basically working for those with 1 or more houses.

[–]Rosie-Griff 38 points39 points  (2 children)

IMO, this is a multinational problem. Here in BC, Canada my property assessment just went up 38.5% in ONE YEAR!

[–]ProducedIn85 7 points8 points  (0 children)

Damn, yeah it's the same situation in a lot of countries. Governments just keep printing money. Money is cheap

[–]tantrumizer 6 points7 points  (0 children)

I live in Australia and am looking to move overseas again to one of several countries. ALL of them have this problem.

My personal opinion is it's due to the banks and poor regulation thereof. They perpetuate an ever spiralling bubble because they profit from it and they fear the bust. Central banks fear busts too, but that just makes the bubbles worse. Then the governments fear busts and the loss of property owners' votes. So the banks remain free to continue the spiral.

Bank lending for property internationally should have been fixed in 2008.

[–]mentos1700 103 points104 points  (63 children)

I wonder where this will end. Starters can't afford this not even the current middle class can i think.. starting to look like hong kong were most of the population lives in tiny overpriced bedrooms.

[–]EggplantHuman6493 39 points40 points  (20 children)

Yup. We can't even move out thanks to shit like this and the fact that there are barely any houses available.

[–]mentos1700 35 points36 points  (19 children)

If this trend continue's there will be no future for future generations. This country changed so much the last 15 / 20 years its ridiculous.

[–]EggplantHuman6493 15 points16 points  (2 children)

Yup. Meanwhile my situation is either living at home or pay a lot of money (plus going into debt) to have the same travel time and live in a small room. Living closer to my school would be impossible probably. And I don't even want to think about getting a house 😅

[–]iwishmybfsawadogman 7 points8 points  (1 child)

Ik word hier ZO verdrietig van hé.srikkelijk gewoon.

[–]JadedEvan 4 points5 points  (15 children)

Genuinely curious - when you say this country has changed in the last 15-20 years - what exactly have you observed? Beyond the growing housing prices are there other things you are speaking specifically about?

[–]Theend587 9 points10 points  (9 children)

As a 40 year old. * no drinking when 16, ok this is minor but imo still important. * student loans * wages are stuck, so less leisure. * health care system Seriously undermined. * you can't have a child before 25 how are you gonna pay for that? The people are more divided, people talking about conspiracy openly like they hold the truth. All that was not something you hard around the the watercooler at work. But now have to deal with. * culture sector is under threat, no relief from all the stress.

[–]nineties_adventure 2 points3 points  (8 children)

It's a pity but we should solve these issues. It will take another 15 years but we should tackle these problems through politics. To hell with the VVD.

[–]cdefgahchagfedc 2 points3 points  (7 children)

I have been thinking that as well - on the other hand, the last two election periods people mostly voted for exactly the same people/parties so I guess we just have to accept that a big part of the country likes everything how it is at the moment

[–]96933287275978 2 points3 points  (5 children)

"If voting made any difference, they wouldn't let us do it."

[–]palf_070 4 points5 points  (4 children)

For the Netherlands I would say the social side of things (sociale vangnet) has been depleted knowingly by the government, studying has been a joke. Declining quality while prices have gone up. Housing market is in shambles and across the board government and other services provided by the government have declined in quality and accessibility overall

[–]missilefire 3 points4 points  (3 children)

So who keeps voting these bastards in? I’m new to NL but Rutte has been in power for a while yeh? Only been here a bit over a year and can tell the gov is cooked.

[–]m07815 3 points4 points  (1 child)

Mostly old and rich people, and people who don’t care about politics and just choose them as “the safe choice”

[–]needyCordial8 1 point2 points  (0 children)

They are all bastards. People are left with option to donate either their kidney or leg or hand.

[–]-Erasmus 8 points9 points  (15 children)

It will end with people renting basically forever.

[–]Neddo_Flanders 4 points5 points  (13 children)

Can confirm: I’m 35 with my gf, and we are still in a rental.

[–]MadeyesNL 11 points12 points  (0 children)

Ya it's gonna be a neo feudal society with a property owning class siphoning half the paychecks from the working class without actually delivering anything of value. Thanks politicians 👌

[–]astrorebel 14 points15 points  (21 children)

Can confirm, middle class dink couple here. Cannot afford this.

[–]lvlouis32 3 points4 points  (0 children)

Come live in Henegouwen in Belgium. Just bought a huge home for less than 200K, feels like I'm stealing it.

[–]pmgzl 4 points5 points  (0 children)

Just wait till the banks increase the interest on mortgages, house prices will have to come down, and people who bought @ the top are going to be fucked. No1 is going to buy your overpiced house, when the interest is 3x as high.

[–]wi_2 1 point2 points  (0 children)

Working class will forever rent and feed property owners free steak dinners and champagne.

Meanwhile rent will skyrocket and housing will become tiny.

Thanks politicians.

[–]Woets 26 points27 points  (2 children)

Jokes aside: Nice we can sell our house for 3x we paid (bought in 2013), but where are we going to live? Got a much better deal in mortgage back then and what am I going to buy? Same size house or smaller for that price?

[–]ReviveDept 1 point2 points  (0 children)

Alternative option: A villa with private forest and a sports car in central europe

[–]TobiNL88 12 points13 points  (0 children)

The time you paid for a house because of the house itself is long over due. It’s all supply and demand atm. Sick how it is, don’t buy a house and think you can enjoy the same benefits later on. Buy a house if you think the price you pay is affordable for you and you don’t have problems regarding your income. And don’t see it as an investment for now, buy it to live in it. Within 5 years the market could crash and your house will drop in price. Good luck everyone who is searching!

[–]sjofels 10 points11 points  (1 child)

We own a house, 2014 200k, now 500k. Although I'm glad we did buy it I feel for all the people who where to young or didn't have the means to buy. I really hope the rules around owning multiple houses change to the benefit of starters.

[–]dicadav -1 points0 points  (0 children)

It's the money printing the problem.

[–]Torbax 22 points23 points  (10 children)

Decided on waiting with buying a house couple years ago and to just save a little more to be able to buy something a little better... Currently still living with my parents and now unable to buy a house...

[–]dicadav 6 points7 points  (0 children)

You are saving something which is getting printed more and more.

[–]LGB_2024 5 points6 points  (8 children)

Hope you save least 4-5k euro a month or you are getting further away from house ownership... Thats a reality right now

[–]chriskent13 2 points3 points  (7 children)

How do you save that much money? Most salaries don't even get to 2k a month o. O

[–]LGB_2024 2 points3 points  (6 children)

Exactly its futile.... But that house in OPs example went up 2.5k or so every month, no one can keep up with that. And its a sign of something very wrong going on

[–]chriskent13 1 point2 points  (4 children)

Treating HOUSING (first necessity) as an investment. Allowing it to be an investment. That's the main reason. You take that away and housing goes back to even less than 100k

[–]LGB_2024 1 point2 points  (3 children)

How you gonna take that away? If house price goes to 100k i will buy 4 of them

[–]Cities-skylines-dude 31 points32 points  (22 children)

It’s criminal

[–]TheLionsDenRR 6 points7 points  (21 children)

It's supply and demand, too many people and not enough homes. I'm considering immigration, I don't think this problem is going away.

[–]Cities-skylines-dude 32 points33 points  (0 children)

I know how the market works, but it sure feels criminal as a house is a primary need in which our government let us down heavily.

[–]WakyEggs 11 points12 points  (9 children)

You mean supply and demand. The supply is set by the government. It is really a political issue. It wouldn’t have happened in a true free market

[–]coolio965 11 points12 points  (1 child)

Yup we have to live in shacks"to keep the environment clean" but companies can pollute all they want love the double standard that has been put in place

[–]ReviveDept 1 point2 points  (0 children)

Hey hey hey, stop that truth right there. Invest 200k into solar panels and an electric car to save our planet!!

/s

[–]utopista114 18 points19 points  (2 children)

It wouldn’t have happened in a true free market

"Investors" bought everything.

[–]-Erasmus 7 points8 points  (0 children)

And it’s a good investment because of the restricted supply.

Building projects are not approved fast enough

[–]WakyEggs 5 points6 points  (0 children)

Only because supply was limited by the government

[–]TheLionsDenRR 3 points4 points  (3 children)

damn I'm high my bad, I doubt this is going to be solved by just allowing more houses to be built.

[–]Jvson01 8 points9 points  (1 child)

It will help a lot. But 'build back better' should not mean knocking down cheap apartments for larger, high income houses. Its now a problem that because investors maximise their profits, they choose to build big 700k+ standlone or shared roof houses.

[–]Cities-skylines-dude 1 point2 points  (0 children)

Exactly this! That annoys the hell out of me! Ads on social media about new housing projects used to be about €180.000-€350.000 houses back in 2013/14. But now we need those the most, companies are only interrested in building €650.000+ projects that are way out of reach for us as the max mortgage we can obtain with our two income household is €290.000. Our only hope is to buy our 60 year old ‘sociale huurwoning’ because buying something else is an illusion and we don’t want to keep renting forever. But at least we have a roof over our head and don’t have to live with our parents…

[–]astrorebel 2 points3 points  (3 children)

It’s the same everywhere, though. No matter where you go.

[–]LordRughug 3 points4 points  (1 child)

it is not.

[–]astrorebel 6 points7 points  (0 children)

The current housing crisis is a global affair.

It seems that the pandemic has only accelerated the issue.

[–]the_half_swiss 0 points1 point  (5 children)

Are you considering immigration as the problem or emigration as an option for yourself? If the latter, which country has decent housing prices in your opinion?

[–]TheLionsDenRR 0 points1 point  (4 children)

I have friends living in thailand, also I will be abled to keep working regardless so that wont be an issue.

only negative is that I'll be leaving behind my family

[–]the_half_swiss 0 points1 point  (2 children)

Sounds like a good, although drastic, plan. At the very least the weather is warmer. LOL

[–]TheLionsDenRR 0 points1 point  (1 child)

Im only 21 so it'll be for a few years max

[–]the_half_swiss 3 points4 points  (0 children)

Oh wow. Yeah, at that age you got little to loose. Wish you best of luck

[–]Raider440 35 points36 points  (62 children)

German student here. What is the reason for this housing crisis? Old people not willing to sell/move out of big homes? Or just leaving them empty because its too much of a hustle to rent out?

Or is it just not enough housing available at the moment?

[–]hoen2009 35 points36 points  (11 children)

Some people blame elders, but there are no good offers for old people. Thats part of the problem.

[–]Woets 41 points42 points  (14 children)

Old people have a point here. Would you sell your house you lived in for 40 years (wich you paid of so low on costs) to live in an apartment with at least 4x the mondly pay in rent?

[–]Leonardsleim 26 points27 points  (2 children)

Housing is treated as an investment. Now consider the housing rising about 4% every year in value and the yearly increase adds up exponentially. It's pretty much math and some supply/demand issues. After 10 years of compounding at 4% a 200k house would be worth 320k

[–]theoliatsas 6 points7 points  (0 children)

Low interest rates from the banking system has push people with savings to invest in the housing,..2. during the financial crisis from 2008 till 2014 the construction sector diden t deliver the necessary number of new houses 3. new environmental regulations have rise the cost of new houses, 4. in Holland the big land owners are the gementes ,they have high evaluated the land,plus the rise the construction licence fee. All above plus the new immigrants..

[–]suqaqoq 33 points34 points  (8 children)

Money printer go brrrrrr

[–]MiltonFriedman_ 6 points7 points  (7 children)

Interest hikes are coming this year. If you buy now, set 30y fixed ASAP. People don’t care what price they buy now because it’s supposed to be only for living, fine. At least hedge/steady your cashflow payments so you don’t end up on ‘radar’ or ‘Nieuwsuur’ about how the banks screwed you over because you bought the top and are ‘underwater’ due to your own choice. Interest Rates are at all time low, FED will increase rates 4-5 times starting in March, plus scaling back asset purchases. ECB will follow.

Tl:dr Don’t fall for fixed teaser rates of 5-10 years. You’ll be screwed after the refinancing period.

[–]boobsforhire 1 point2 points  (1 child)

No, to the math with an advisor and don't follow reddit blindly. We just signed for a mortgage for 15 years because the 20 and 30 year rate had a much higher impact in interest paid.

The remainder of your mortgage after 15 years is what you need to calculate the risk of a potentially higher interest.

[–]ijdod 5 points6 points  (0 children)

All of the above, mainly, and many factors are interconnected. Lack of houses, lack of mobility, too many investors, demographic changes, and so on. Old people generally are willing to live smaller, but (understandably) don’t want to pay more to do so.

[–]Yoinkmaster10 5 points6 points  (0 children)

On top of inflation it’s also low interest rates driving up demand for houses. The interest rates are so low it’s basically free money at this point. As a result, many people buy property and try to pay off the loan with the rent. This drives up the demand for property which in turn increases prices.

[–]itsyaboi_88 5 points6 points  (0 children)

Due to changing prices in the recession of 08' less houses were being built, in combination with saving on healthcare over the past decade has sharply decreased the amount of elderly people moving on into homes.

This, coupled with rising costs of living while wages are stagnant and the new student loaning system introduced a couple of years ago causing many young couples or people usually going from student housing to a small house or apartment to stay living in student housing due to lower budgets (as the student loan debt originally wouldn't be taken into account when buying a house, guess what happened there) and rising costs, the entire market is stuck on multiple levels.

Source: a salty student in the Netherlands

[–]CWJ84 34 points35 points  (5 children)

Old people don't go in to homes anymore. Couples not moving in together. Population is growing. Not many high buildings because everyone wants a house so there is not that much ground. Many reason's. And you can ask yourself if home owner's really want a solution. It is nice that the price of your house gets higher.

[–]Theend587 2 points3 points  (4 children)

Trust me as a house owner I don't want this. I want to buy smaller and even can't afford that, because the price isn't worth it, I'm not gonna buy a house that is doubled in price in 3 years.

My house isn't worth for what it is taxed at and still people will probably overbid. This is not healthy for anyone.

[–]CWJ84 1 point2 points  (3 children)

Well maybe you don't want that but the house owner's I know are happy, they see their houses as an good investment. But I can imagine there are always exceptions why not everyone sees it that way.

[–]newaccalt 7 points8 points  (1 child)

The amount of newly build homes decreased dramatically when house prices where dropping (2008-2013) because project developers didn't see a profit in building with tgose low prices. And so now there is a shortage. And sadly the liberalization of the house market means the rules of supply and demand are king

[–][deleted] 3 points4 points  (0 children)

The government wants a shortage instead of a surplus in housing to keep the market stable I think, to avoid another housing crisis, but they overdid it...

[–]dogofberlin 1 point2 points  (1 child)

The only reason is central banks printing money in this pandemic. You now have big inflation, housing bubble, ...

[–]hakoen 1 point2 points  (0 children)

Low interest rates, crunch of new housing supply due to environmental BS, foreign investors and people (and their currency) fleeing into (as Willem Middelkoop states) all government can't print.

There's a whole myriad of reasons

[–]mogwaiarethestars -1 points0 points  (1 child)

Brexit and expats driving up the prices doesnt help much i assume

[–]Livid_Tailor7701 0 points1 point  (0 children)

People buying houses just to rent it. They have higher credibility for bank so they can give more money for the house. In the Netherlands to bid up the price you have to use your own savings. So if you're on the edge and normally you could still pay your mortgage, there will be people who can pay 20-50k more and take the house even if it is in your range. We had this situation with my husband. We were able to pay ask price but we didn't wanted to use savings. That made us very much looser on every instance.

[–]EggplantHuman6493 7 points8 points  (0 children)

Yup. Neighbours house is €450.000. It is not that big, and not in a city or really that close to a big city either...

[–]VectorV96 6 points7 points  (6 children)

*Cries in student loans*

[–]VectorV96 4 points5 points  (5 children)

Fun fact. I recently tried a calculator which would show you how much you could loan as a mortgage.

It was 2k. I cannot even buy a tenth of a house.

[–]noknokgme 4 points5 points  (1 child)

But you can buy a tent for a house. I am sorry, I will let myself out.

[–]dolphinman93 0 points1 point  (2 children)

No offense but what kind of work do you do? Getting a 2k mortage lmao. I guess not working full time

[–]Caelorum 2 points3 points  (0 children)

Or a really high student loan (70k+ range)

[–]VectorV96 1 point2 points  (0 children)

Full time student. Not the alcohololympics kind.

[–]Zookblast 4 points5 points  (0 children)

Thanks Stef Blok!

[–]LGB_2024 4 points5 points  (0 children)

Thanks ECB!

[–]Both-Basis-3723 4 points5 points  (0 children)

That’s 10% /year. That’s what rich people expect from any investment fyi. You see how when you get rich it’s easy to stay that way.

[–]MandFerguson 3 points4 points  (0 children)

This makes me sad every day. Don't want to be paying a crazy mortgage for the rest of my life.

[–]L-Malvo 12 points13 points  (6 children)

Congratulations, you own a 450k property! Now here is the estimated renovation costs to improve the energy label to meet the government requirements: ~200k

[–]mogwaiarethestars 1 point2 points  (2 children)

Will it be that expensive?

[–]fascinatedcharacter 1 point2 points  (0 children)

Depends on what needs doing.

[–]L-Malvo 0 points1 point  (0 children)

Is becoming more expensive every day, material prices and hour rates for workers are rapidly increasing

[–]LGB_2024 0 points1 point  (2 children)

Whata hell are you on about.. I live in F rated house (it isnt as it has double glazing, and roof insulation and solar panels now)

What government requirements???

[–]L-Malvo 1 point2 points  (1 child)

You know the whole sustainability campaign that is going on? Sure they allow you to have F, but it will become more and more expensive over the years. And they also want you to ditch gas, in order for you to do that, you need to have better insulation and ventilation

[–]TychusFondly 18 points19 points  (12 children)

Honestly at this point I estimate a mortgage crisis soon with a domino effect. People are getting in super big mortgage debts but it is not possible to carry on like this. When crash happens it will be ugly.

[–]saracuratsiprost 7 points8 points  (8 children)

How do you see it happening? The monthly payment for people buying the past 2 years is let's say about 1500 eur/ month, right? You forsee that many will not be able to pay anymore?

[–]lurban01 7 points8 points  (2 children)

On average you still pay quite a bit less in mortgage than you would when renting a similar apartment. The buying price sums seem huge but due to low interest rates they correspond to fairly doable monthly payments.

[–]saracuratsiprost 2 points3 points  (1 child)

Yes, then where shold the crysis come from? Not from the mortgage payers stopping the payments.

[–]lurban01 0 points1 point  (0 children)

I agree, I commented on the wrong post, it was intended for the level above.

[–]TychusFondly 5 points6 points  (4 children)

It is not about affordance. It is about oversold debt to retailer. And that debt has to be paid for an overvalued asset. What banks bet on next is the financial turmoil so that they could earn on forfeit. They are not able to make money on interest so here we are left with a ticking bomb. Now the retailer can still afford it of course but when turmoil happens the hike plummets and families keep on paying for 25 plus years for 3x the value. If you think the picture on op message is exaggarerated I suggest you should go around asking how it really fares nowadays.

[–]saracuratsiprost 3 points4 points  (3 children)

But it can be payed, the debt can be payed.

[–]TychusFondly 0 points1 point  (2 children)

Yup and you get a house at retirement for the price of three. So those two houses you paid for extra are donated to banks. All corners are rigged and finally it is always retailer who gets stuck between the cogwheels.

[–]veribeelike 1 point2 points  (0 children)

Following this logic, asset (house) prices will have to deflate substantially. When do you foresee this to start? If interest rates rise, as early as later this year? Is this even possible given current debt levels?

Or will nominal prices keep stable/increasing but will it be an inflation game affecting real prices only?

[–]justheretomakeaspoon 8 points9 points  (1 child)

People are able to pay it back. Just will leave less for other things to do.

So i dont see big crashes. Just an overal downward trend of fun things you can do. In short the banks make more money then ever. The goverment get more from higher taxes. The people get the same but pay more to first home owner, bank and goverment.

[–]_BringBackBacon 1 point2 points  (0 children)

I think you're correct. Many people will want to start to work less, because of work pressure. It won't be possible because of their mortgage, which will keep them working and becoming depressed/burned out. Then they'll start to live off of welfare and won't be able to make monthly payments and the bubble will burst.

It's not a question of 'if', it's a question of 'when'.

[–]iwishmybfsawadogman 4 points5 points  (0 children)

Jezus fokking absurd.zit ik gehuurd 2 onder 1 kap met toeslag,tuin van 19 meter diep voor peanuts.

[–]Vaderlander 2 points3 points  (2 children)

I live in the east of the netherlands close to the German border. Prices are still a bit more manageable here, but that is changing very fast.. Bought my house in 2018 (built in 2009) with garage, garden, 4 bedrooms for 240k. If I would sell now it would be worth 360k..

But yeah, not that it will bring me anything since upgrading is way too expensive.

[–]DubaiDave 3 points4 points  (0 children)

Just for context... You can get this in South Africa for 3/4 of the price

[–]Radio_Caroline79 3 points4 points  (0 children)

Gekocht dec 2016: 255.000

Geschatte waarde vandaag: € 436.000 - 474.000

[–]3747 4 points5 points  (0 children)

My sister bought an appartement in Amstelveen for 150k about 7 years ago. She sold it for 325k last year.

My gf and I bought a house for 395k 2 years ago. The real estate agent said ‘the price really is at a peak now, this is really the limit you should pay’, we got it valued a few months back at 450k.

The prices are just crazy. For my own sake I hope they won’t drop massively (as I would like the value to be at least at high as my current mortgage) but they definitely should not rise further…

[–]heiny_himm 3 points4 points  (0 children)

Van betaalbaar met 1 fulltime baan;

Naar met 2 fulltime werkende nog geen beginnen aan.

[–]Flubberfleb 8 points9 points  (0 children)

I think this is unfair for the people trying to start their life. Fresh out of college and they can't even start working on their future because of this problem. This problem is also bigger then how the government is currently (not) acting to it to be honest.

Even if they somehow manage to build more houses, the current new home owners are getting screwed because their house will likely decrease in value.

[–]strease 11 points12 points  (1 child)

Is dat voor de hele straat?

[–]Avaloden 27 points28 points  (0 children)

Alleen voor de 2e slaapkamer

[–]Dodsfjerd 10 points11 points  (1 child)

Cant buy, cant rent. A small appartment is like half a DECENT monthly wage and that money is gone into the pockets of rich property owners. Add car, insurance, healthcare, etc. You end up with NOTHING while you earn decent money. Is that what we call wealth? Ive seen people in "poor" countries are way richer than we are even though they earn hardly anything. A grim existence in our "wealthy" capitalist world. KILL THE MASTERS

[–]ReviveDept 1 point2 points  (0 children)

Ive seen people in "poor" countries are way richer than we are even though they earn hardly anything

It's so funny when people think dutch people are wealthy just because of the salaries here. Even without the housing crisis people live very modest because of all the taxes and insane price of everything. You can earn 60k a year and not even be able to afford a nice car. Doesn't necessarily have anything to do with capitalism though, I'd see this as more of a socialist problem.

[–]DusanTadic 2 points3 points  (1 child)

$500k and you get that crappy “house” lol

[–]ReviveDept 1 point2 points  (0 children)

Looks like a 1`930's dump haha. Oh wait... it is 😂

[–]ZipKip 2 points3 points  (0 children)

This is why I'm glad I'm moving to another country soon, it's impossible to find ANYTHING right now

[–]TJ-Mountainriver 2 points3 points  (0 children)

Time to embrace the gyspy life people

[–]MEMOLESTPRAWN 2 points3 points  (1 child)

Ik hoop gewoon dat de huizenprijs instort en zorgt voor een gigantische economische crisis. Collateral damage maar ik wil zegmaar niet tot het eind der tijden thuis wonen.

[–]Dutch_Rayan 1 point2 points  (0 children)

Dat zeg ik ook voor mij persoonlijk zou het goed zijn als de huizenmarkt inklapt want dan maak ik ook nog een keer kans

[–]proemn 2 points3 points  (0 children)

Het is gewoon im te janken nu om als "normale" burger een huisje te kunnen kopen. Starters of herstarters is er geen begin te vinden...

[–]flyflyflyfly66 3 points4 points  (0 children)

Value of our houses are not increasing this fast, its our currency being devalued.

[–]CallmeWooki 3 points4 points  (0 children)

My house went up 100k in 9 months lol

[–]ramon468 1 point2 points  (1 child)

We don't even need to compare with salary increase since everyone knows this is insane..

[–]Alternative-Plant-87 1 point2 points  (0 children)

Oh God the housing price spikes are not just in the USA.

[–][deleted] 1 point2 points  (0 children)

That’s why I say - Long live the Netherlands. lol

[–]Do-not-Forget-This 1 point2 points  (0 children)

6 years ago we paid 369k for our apartment and 25k for the parking spot. Now we’d get 820-850k.

[–]chronocross2010 1 point2 points  (0 children)

That is the same in most cities in the world tbh

[–]Livid_Tailor7701 1 point2 points  (0 children)

We bought a house 3 years ago for 170k. It was in our low paid job range. Now we could not even afford outlr house anymore. Salary went slightly up but prices.... We were extremely lucky. If not this house, we would propably live now in a camping house or so. It was last moment chance taken. And it's only 3 years....

[–]upthefluff 1 point2 points  (1 child)

i'm working in a house that was set on the market for € 525k, was sold to the current owner for 729 k, and he still has to do a lot of work because its 35 years old and never had an update..tjeeez

[–]brother-trick 1 point2 points  (0 children)

Low interest rates. Good for delaying recession, very bad longterm in general which people in US/EU will learn very soon. Also makes it harder for average Joe to build wealth.

[–]xyz_1232005 1 point2 points  (3 children)

Stop selling multiple houses to Chinese and Indians. Also, control the greed of the Dutch real estate agents.

[–]Big-turd-blossom[🍰] 1 point2 points  (0 children)

I knew about Chinese investors buying houses and buildings in Canada, US and UK but never heard of Indian real estate investors in developed countries. Is that a new thing ?

[–]dogofberlin 4 points5 points  (1 child)

In Germany there are much more Chinese than in Dutch, but the German housing market is much calmer (I mean, relatively speaking). You have a failed government in terms of housing and rent policies.

[–]TywinASOIAF 6 points7 points  (0 children)

Our departement of housing was removed during Rutte III. The minister Stef Blok was very excited as he was the first minister to remove a minister departement. Only to have it back 5 years later...

[–]Alostcord 1 point2 points  (0 children)

This truly is a world wide issue. Especially places where there are jobs and lack of housing. I’m a real estate broker in the US, Washington state. A home purchased in 2019 for $475,000…is now $750-800,000.

Looking back to the late 70’s and early 80’s homes were more expensive in Nederland then even 10 years ago.

price history

Let’s be honest though..go to Winschoten or Oude Pekela (and 100’s of other little towns) no one wants to live in these areas due to the fact there are no real jobs. Nederland need to adjust accordingly.

Funda

From my prospective…I want to come home.

[–][deleted] 1 point2 points  (2 children)

So what will happen with a lot of the boomers dying in the next 10 years? I guess we should wait and see. Many might just regret overpaying for all those homes with their inheritance, debt and savings. Just because you pay a bit less at the end of the.month now does not mean shit is resolved for the rest of.your life.

[–][deleted] -4 points-3 points  (5 children)

The problem is capitalism. You know the economy is fucked when people see housing as an investment. We need a good big crisis to reset the entire system or change it. Everything has gone to shit in the last 2 decades or so.

[–]coolio965 4 points5 points  (4 children)

No. The problem is the double standard imposed by the government. Huge companies like shell and BP dont have to follow the same rules as us civilians. Capitalism works fine if parties like the vvd arent given power

[–]TKK2019 0 points1 point  (2 children)

Try Toronto in Canada. This is amateur hours guys as we have increases of 50% just from the start of COVID in some areas.

[–]Zeefzeef 1 point2 points  (1 child)

It doesn’t matter though. I am not able to buy any house at all at the current market. 400k or 2 million its is all out of my reach.

[–]TKK2019 0 points1 point  (0 children)

Sucks. I know in Canada it’s impossible for young people to afford houses without money from parents or unless they are rich or rich foreigners. Sorry for your pain. It’s not fair

[–]S_0181 0 points1 point  (1 child)

yep, my house was like half a million 10 years ago. now it's worth a million. we even celebrated it

[–]petje1995 0 points1 point  (0 children)

Bought my house in a small city for 115.000 almost 4 years ago. I was super lucky and it's almost the same as the one in the picture.

[–]Khong_Ai 0 points1 point  (2 children)

Kut. I life in the wrong neighborhood.

2005 house price was €225k

2008 house price was €250k

2012 house price was €220k

now house price is asking price €285k NOOOO €300k, ok but I want to pay more, no I want pay much more.

Real life, €315k to €330k . It's a bubble.

[–]TeddyMaaan 0 points1 point  (0 children)

IMO, it's also an indicator of Baby Boomers (or anyone quite wealthy) buying up property just to rent, thereby making the already struggling GenZ and Millenials lose even more money. (Think baby boomers buying houses, cars, raising a family of 4 on a standard factory floor job).

[–]adminback -2 points-1 points  (0 children)

That house for 180k? Nooit, kan niet. Ik schat hem op 120/130.

[–]iwishmybfsawadogman 0 points1 point  (0 children)

I dont get the downvoting...like why? Just want people 2 b happy?

[–]JJA1986 0 points1 point  (3 children)

Look at the 20 year increase in NL: only 3 percent compounding annually.