Wow, we are on a front page! Yeh, things are rough down here, most of my friends, in their 30s are still at home, because price of real estate (looking at you tourism) has gone out of reach for most of them.
Little example. Average salary is about 700 euros. Price of m2 is around 2000-2500 euros in my city (we are not talking about any luxury apartments ofc, buildings build 30-50 years ago). Now, please enlight me how is this person going to earn a flat.
Rent you say? There are no more places to rent for a whole year. Everybody is renting only for tourists, on day-to-day basis. Trying to find place where you can stay whole year? Sure, only 10% of all rentable flats goes int hat category. Usually you can stay from 9-5 month and then tourist season kicks in and you have to move out. Where? It’s your problem.
Price increased 100% twice in 10 years . First in 90s DeucheMark converted to euro on 2:1 ratio. Ofcourse, price went from ex. 1000 DM/m2 => 1000 E/m2. Then in 00’s price doubled from 2001 1000E/m2 to 2000E/m2 in 2003-4. Wages remained the same in 00’s. Yeah, blame it on spoiled children who just want their mommies to wipe their asses, and not on economy quagmire and political treason of county interests in anyway (like ditching south stream project).
Lastly, people are emigrating in large numbers (Germany, Ireland) because things and not goin to be any better. We lost around 250000 people in last 2-3 years and we have 4 milion people. Previously mostly males were moving out, now it is whole families that are leaving.
Problem is that most qualified and productible folks are moving out and only unproductive, ignorant, politically-connected parasites are remaining (ratio of working people vs those in retirement is 1:1?!?!).
We are next Greece, and probably even worse.