Europeans lack money to pay for housing – Euronews.

A report by the real estate agency RE/MAX Europe showed that every tenth European had to cut back on food and everyday goods expenses to pay for housing. Housing costs in Europe have increased by 54% over the past 12 months. Many Europeans stated that although they can afford to pay for housing, they still struggle with funds. European households spend 38% of their income on rent or mortgage payments and utilities. About 80% of survey participants began cutting down on various expenses to pay for housing. Some were even forced to borrow money to cover costs. Cost optimization included saving on social activities, leisure, and luxuries. In the future, more than 48% of respondents expect further increases in housing costs. Many Europeans are also considering moving to a smaller city or abroad where housing will be more affordable. The survey also revealed that many residents of Europe are satisfied with their housing, but some have issues with space, humidity, and cost. In Poland, the cost of renting accommodation has increased due to rising utility costs and migration.