Yes but the real difference is the scale. Approx half of housing in Vienna is publicy owned. This means rent becomes affordable for most as prices depreciate. And it costs the government suprisingly little, saving a lot on crime, homelessness etc etc. Another big part of the market is tightly rent controlled. So you only have maybe 20% of housing that is in similar market conditions to 97% of US housing.
I recently moved to Vienna and don’t qualify for the public housing (you need to have lived here for a certain amount of time)but the sheer amount of it (and relative quality) means that even in the private market, competition is much less.
Compared to other cities we have lived in, the rent is much lower and the quality much higher.
Something like 60% of the population lives in either public or subsidized housing!
We have that. It’s a little complicated in ways that Vienna probably doesn’t have.
Yes but the real difference is the scale. Approx half of housing in Vienna is publicy owned. This means rent becomes affordable for most as prices depreciate. And it costs the government suprisingly little, saving a lot on crime, homelessness etc etc. Another big part of the market is tightly rent controlled. So you only have maybe 20% of housing that is in similar market conditions to 97% of US housing.
I recently moved to Vienna and don’t qualify for the public housing (you need to have lived here for a certain amount of time)but the sheer amount of it (and relative quality) means that even in the private market, competition is much less.
Compared to other cities we have lived in, the rent is much lower and the quality much higher.
Something like 60% of the population lives in either public or subsidized housing!