I don't know any western nation outside the US (i.e., Canada, UK, Aus and NZ) where that'd be the cause. Yanks don't emigrate often and in large enough amounts to effect any other nation outside a few edge cases that I assume exist in Canada/Mexico. You mostly witness that within your own borders if I'm correct, e.g., the California exodus raising Texas and mid-west prices.
For outside the US, while London is a mix of factors, the markets in the remaining nations were primarily upended by housing being seen as an investment vehicle in the late 90's by the preceding generation (boomers) and then later as a store of money by foreigners wanting to park cash offshore, predominantly Chinese nationals. Further manipulations by market players who stand to earn more the higher the price soars (banks, realtors) leaves us with a problem of house prices where no one loses, except the poor millenial buyer, the higher they go.
UK had some of the most restrictive housing policy in the world. It’s not really multi-faceted, is it. It’s just a supply shortage. People want to live there but the UK doesn’t build enough homes.
I don't know any western nation outside the US (i.e., Canada, UK, Aus and NZ) where that'd be the cause. Yanks don't emigrate often and in large enough amounts to effect any other nation outside a few edge cases that I assume exist in Canada/Mexico. You mostly witness that within your own borders if I'm correct, e.g., the California exodus raising Texas and mid-west prices.
For outside the US, while London is a mix of factors, the markets in the remaining nations were primarily upended by housing being seen as an investment vehicle in the late 90's by the preceding generation (boomers) and then later as a store of money by foreigners wanting to park cash offshore, predominantly Chinese nationals. Further manipulations by market players who stand to earn more the higher the price soars (banks, realtors) leaves us with a problem of house prices where no one loses, except the poor millenial buyer, the higher they go.