My question is why is this happening and why is it happening all over europe ?
Great question.
I would suggest it is not limited to Europe, but the US and Australia also.
Japan has been experiencing the same problem for a long time.
Increase in population generally?
That may partially explain the problem, but considering there has been an increase in population generally since the dawn of humanity, it falls short of why the issue is so pronounced in recent years.
Population increase, plain and simple. Mass migration
Population increase has been with us since the dawn of time, as has mass migration.
The USA can record the largest migration levels ever over a fifty year period from 1860's to 1910's. Rather than causing a housing shortage, it generated so much economic activity as to found the platform for the greatest economic power in the history of humankind.
Increased concentration of economic activity in cities.
Migration from rural to urban
This is a major factor. The economic crash resulted in a centralisation of financial power toward capital cities.
This is natural. Those that
control the wealth exercise more power over those who
create the wealth.
They typically congregate in centres of power, like capital cities.
obviously the european financial system is also facilitating this by providing the liquidity and quantitive easing to allow people borrow the money to buy the properties.
Absolutely, couldn't agree more. QE was a tool to restore asset prices to their pre-crash levels. After which, value would subsequently "trickle down" to the rest who re-generate economic activity.
Unfortunately, there is simply too much personal debt
General shortage of capital investment after the
Great Recession?
True also. The lack of investment is natural when the economic doctrine has collapsed.
In Ireland taxpayers money is used to buy existing dwellings for social housing pushing up Dwelling house prices in Ireland
This is also part of the problem.
Investors will milk the rental market
That would imply that rents are pitched at maximum obtainable rents relative to quality of service?
well if the issue is lack of supply why has it suddenly happened, why did it not happen in the 2000s, 1990s or 1980s, something else is happening, in order for ireland to solve its housing it must fully understand what is really happening
Great point.
I would suggest that what is happening in Ireland is not unique. As OP stated this issue is EU wide. I would suggest that it is US wide too.
To understand what is happening , is, in my opinion, a deliberate policy to treat housing as a commodity to buy and sell for profit.
Rather than a social provision that all people need as a necessity.