{ "title": "Housing Costs Mount", "sourceUrl": "https://www.imf.org/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk", "canonical": "https://www.imf.org/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk", "overlayPath": "/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk/index.md", "summary": "Price rises are piling pressure on the poorest and adding to intergenerational strife", "sections": [ { "heading": "Overview", "content": "- Article: \"Housing Costs Mount\" by MARTA DOROSZCZYK, F&D Magazine, December 2024.\n- Central finding: After retreating during the global financial crisis, house prices have resumed their relentless rise, putting pressure on the poorest and increasing intergenerational strife." }, { "heading": "Price and income trends", "content": "- Over the past decade, the cost of a home across the OECD’s mostly high-income countries has risen by 37 percent in real terms, according to the organization’s analytical house price indicators.\n- Prices are up 16 percent relative to incomes, on average." }, { "heading": "Generational effects and concerns", "content": "- Rising house prices are straining relations between the generations; younger people yet to get on the property ladder are more concerned than their parents.\n- Survey results: 60 percent of OECD respondents aged 18–39 said they worried about housing affordability, compared with 38 percent of those aged 55–64.\n- The generation gap was greatest in Ireland, Canada, and the United States." }, { "heading": "Homeownership patterns", "content": "- Homeownership is highest in Eastern Europe’s former communist countries; example: 94 percent of Romanians own their home outright.\n- Comparison: 5 percent of the Swiss own their home outright (as noted in the source)." }, { "heading": "Rental markets and burdens on the poorest", "content": "- On average, 16 percent of people rent from private landlords in the countries the OECD tracks.\n- Colombia: 82 percent of renters in the lowest income quintile hand over more than 40 percent of their income to private landlords.\n- Colombia’s rental market is noted as one of the least regulated." }, { "heading": "Mortgage repayment burden on low-income homeowners", "content": "- Higher interest rates increase repayment pressures for homeowners with outstanding mortgages.\n- Colombia and Luxembourg: more than half of the poorest who own a home spend at least 40 percent of their income on repayment.\n\nSource: \"Housing Costs Mount,\" MARTA DOROSZCZYK, F&D Magazine, December 2024; International Monetary Fund.\n\n---\n\n Content in this bundle\n\n- Picture This: HOUSING COSTS MOUNT\n - Picture This: HOUSING COSTS MOUNT (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - Picture This: HOUSING COSTS MOUNT (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk" } ], "bullets": [ "[Markdown version](/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk/index.md)", "[Structured JSON version](/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk/index.json)", "[Bundle manifest](/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk/bundle-manifest.json)", "Authors: MARTA DOROSZCZYK", "Published: December 3, 2024", "Article: \"Housing Costs Mount\" by MARTA DOROSZCZYK, F&D Magazine, December 2024.", "Central finding: After retreating during the global financial crisis, house prices have resumed their relentless rise, putting pressure on the poorest and increasing intergenerational strife.", "Over the past decade, the cost of a home across the OECD’s mostly high-income countries has risen by 37 percent in real terms, according to the organization’s analytical house price indicators.", "Prices are up 16 percent relative to incomes, on average.", "Rising house prices are straining relations between the generations; younger people yet to get on the property ladder are more concerned than their parents.", "Survey results: 60 percent of OECD respondents aged 18–39 said they worried about housing affordability, compared with 38 percent of those aged 55–64.", "The generation gap was greatest in Ireland, Canada, and the United States.", "Homeownership is highest in Eastern Europe’s former communist countries; example: 94 percent of Romanians own their home outright.", "Comparison: 5 percent of the Swiss own their home outright (as noted in the source).", "On average, 16 percent of people rent from private landlords in the countries the OECD tracks.", "Colombia: 82 percent of renters in the lowest income quintile hand over more than 40 percent of their income to private landlords.", "Colombia’s rental market is noted as one of the least regulated.", "Higher interest rates increase repayment pressures for homeowners with outstanding mortgages.", "Colombia and Luxembourg: more than half of the poorest who own a home spend at least 40 percent of their income on repayment.", "**Picture This: HOUSING COSTS MOUNT**" ], "related": [ { "title": "Picture This: HOUSING COSTS MOUNT", "role": "document", "sourceUrl": "https://www.imf.org/-/media/files/publications/fandd/article/2024/12/pt.pdf", "summary": { "path": "/-/media/files/publications/fandd/article/2024/12/pt.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/-/media/files/publications/fandd/article/2024/12/pt.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk/index.md", "json": "/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk/index.json", "bundleManifest": "/en/publications/fandd/issues/2024/12/picture-this-housing-costs-mount-marta-doroszczyk/bundle-manifest.json" }, "generatedAtUtc": "2026-09-15T19:37:40.857Z" }