[jorvi]

High unemployment?

Boomers retiring will create a permanent labor shortage for the foreseeable future. People just don’t want to be construction workers, and who can blame them? Especially with how construction workers got screwed over after 2008. That nuked the construction sector so hard that employement in construction has just barely recovered to 2008 levels.

It would be beautiful if housing was the pure demand-supply curve that many claim it is- but currently it isn’t. Letting the market solve the housing problem doesn’t create additional future housing as that is blocked by house construction output, all it does is allow maximizing profit on existing real estate.

With the extreme anger and complete societal gridlock that the first world housing crisis is fomenting, if the fix was “just unregulate lol” politicians would have done that by now.

[HDThoreaun]

Spains unemployment is 12%. That is among the highest for developed countries.