this post was submitted on 05 Oct 2024
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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.