Despite high economic indicators and stable development, the countries of the organization of economic cooperation and development (OECD) have encountered a serious problem: the availability of housing is getting worse. The latest data provided by Gallup and published Financial Times demonstrate a disappointing picture: more than half of the citizens of these countries, who have to enjoy a high standard of living, are disappointed and dissatisfied because of overweight housing prices.
The situation is especially critical among young people. Most of those surveyed under 49, who are in the prime of their lives and careers, face unbearable financial difficulties when trying to provide themselves with housing. In the United States, where housing prices continue to grow, almost 60% of respondents celebrate their dissatisfaction. The average cost of housing in the country has increased by almost 38% during President Joe Biden's reign, which casts doubt on the government's ability to control the real estate market.
Negative trends are also noticeable in Europe. In England, housing prices are now eight times the average annual salary. For comparison, in 1997, this figure was twice smaller. This makes more and more people look for shelter in temporary premises, the number of which has reached a record level. Germany also shows alarming numbers: the proportion of those who are dissatisfied with the availability of housing has increased to 46%, which is a new maximum. In Spain, this figure reached 62%, returning the country to the level of financial crisis.
Against these challenges, the situation with other basic services, such as health care, education and public transport, does not look optimistic. About 30% of the population in developed countries are dissatisfied with their quality. Despite the statements of governments, the standard of living remains low, which is confirmed by the rise in dissatisfaction among citizens.
