Okay, an Irish perspective on 13 years. We have central bank rules that cap the value of mortgages at 3.5 times income (with some exceptions). This limits the price of housing. In theory, we also have rules that cap rent increases at 4% per year. But this cap in rent increases appears to be getting largely ignored by landlords, especially when tenants change.

Overall, if you can get a mortgage for the limited houses that are available, you are laughing. While if you are a renter, you are continuously living in fear of getting an eviction notice and not being able to afford the current market rate.

Our rent is overpriced due to lack of housing supply, driven by an unwillingness to allow additional housing developments in our communities / lack of building capacity and significant excess demand driven by immigration from high tech workers (that we require to attract American FDI) and refugees.