In her suffering housing crisis European citizens, with the number struggling to meet housing costs rising steadily after years of above-target inflation and soaring borrowing costs.
The proportion of lower-income households expecting to make late payments for utilities or rent rose to more than 20% in the first quarter from around 15% in 2023, ECB researchers Homeros Kouvavas and Desislava Rusinova said on Monday 22/4 . For mortgage payments, it almost doubled to 30%.
“Given the current and future impacts of both increased interest rates and the loss of purchasing power due to inflation, the ability of households to meet housing-related costs and their mortgage payments is a cause for concern,” the article states, according to Bloomberg.
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