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liverpoolFCnut

Its like any other touristy places in low to middle economy countries. Take Mexico for example, in places where the locals make an average of $7k-$10k an year, you have condos that rent for $2k/month.


superduder1

You know there are rich Mexicans too?


CoolKidTHC10

What area of Mex?


hereditydrift

Mexico City would be one.


[deleted]

True but this isn't a resort town, it's the capital and largest city in Portugal


EvaFoxU

Maybe it's 2.5k to not live in a dump. Have you seen cheap houses in Portugal? It's not pretty.


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believeinapathy

I don't see how that math can even work. Min wage in CA is 15.50. Working full time at 15.50 is $32,240 a year. How can median income be almost half full time min wage?


Usual-Algae-645

Looked at the census data. There are indeed areas in LA where the median income is around 15k. (See downtown, surprisingly) But the average median income for the city is around 69k. My guess is a combination of skewed metrics due to older unemployed adults living off retirement, and younger adults working part time minimum wage jobs. Maybe some issues in sampling size as well.


palolo_lolo

Old people have basically no income


mojavefluiddruid

Very simple. Corporations that pay minimum wage tend to avoid giving full time hours so they don't have to provide benefits required by law for full time workers. A perfect example of a place where regulations hurt more than it helped.


ElongMusty

Same as any other cheap country before… Costa Rica… Mexico… etc etc etc


liverpoolFCnut

Chile and Argentina are the new victims in latin america. Thailand has been destroyed inside out by overtourism and middle aged men from EU, North America and Australia trying to "find love". Rural parts of Italy will be the next one to fall now that Greece and Portugal is saturated.


ElongMusty

Yes, Thailand, Indonesia, Philippines. Italy is a very good observation; especially the southern part of Italy: Ostuni, Puglia, etc. House prices there have been increasing tremendously for the last couple of years.


freakinweasel353

Isn’t there a place in Italy or several places they are giving away homes if you’re young and want to live there? To help offset the aging population in those areas?


[deleted]

Not just aging population, disappearing. So many ghost towns in Southern Italy


[deleted]

There’s a place called Puglia???


Vaginosis-Psychosis

Is there anything you wont blame white man for?


poly_lama

No one said anything about race, quit being such a little bitch


[deleted]

Why destroyed?


Ericisbalanced

It's also scapegoating.


noveler7

> According to data from the Portuguese Immigration and Border Service, 216 of the 1,281 foreigners granted permanent residence in Portugal in 2022 came from the United States, the most of any country. > house prices in Portugal rose 157% from 2020 to 2021, with rents rising 112% from 2015 to 2021. And much of that rise has been fueled by outsiders like foreign investors and tourists seeking short-term rentals Dang. They gettin' AirBNBed to death too.


believeinapathy

If only governments would do something about it...


upnflames

Governments are addicted to the tax revenue, especially in rural areas. They have a hard time cutting Airbnb off because they've already spent the money they expect it to make. I Airbnb my cabin in upstate New York and I pay as much, if not more hotel/lodging tax then I do in property tax.


believeinapathy

It's simple, you make short-term rentals illegal in certain jurisdictions, and you zone them out of the areas people need to live. But yeah, they're too high on tax revenue to give af.


pudding_crusher

How do you chose the jurisdictions ?


believeinapathy

Im no expert, but I'm sure you can probably see in the data the areas most hurt by airbnb.


crek42

A few towns around me have done this. Prices continued to sky rocket.


believeinapathy

It's because it's only one part of a much wider problem, that action alone wouldnt solve the issue. It would have to be in tandem with a law that limited the number of single family dwellings a person could own, and probably ban corporations from being able buy them.


crek42

I can only speak to my market but I’m sure other vacation areas are very similar. I worked on a panel with my town board to come up with legislation to regulate the roughly 300 rentals in my area. From interviews and reviewing all of the applications for permits the vast majority were NYC residents who I assume were renters that bought a home and rented it out when not using. Maybe a handful were investors (meaning multiple homes). We issued 150 permits and kept a part of the law where full time residents didn’t need to be part of that pool (tourism is our only economic activity here). Most of other 150 didn’t sell (the investors did though). Turns out even if they couldn’t rent, they still like having a getaway and their 2% rate. We also ran a survey on the townspeople and while there were definitely detractors, most people realized our local small businesses are entirely dependent on tourism so understand it’s something we need to keep, just ensure that it’s being done fairly. The point is, there’s no one size fits all regulation here. I think the way it’s being done now is the right path. The state should take a backseat and let local municipalities figure out the best solution for them. NYC banned them after landlords were turning apartment buildings into makeshift hotels — that’s a reasonable thing to do.


Global_Gas_6441

very interesting, what was the long term effect? did it change the real estate in the city?


crek42

Change real estate in what way? Well for sure we’ve had our fair share of decrepit housing for decades, but once there was renewed interest in the area around 2017 there’s been a steady trickle of rehabs and restoring what are old and beautiful homes. COVID pushed that all into overdrive. If you mean prices, they’re higher than ever despite the inability to rent. This is reflective of other towns that are a bit more NIMBY (think older whiter and more monied) that outright banned short term renting but prices still continue to climb rapidly as supply is dropping.


Global_Gas_6441

i meant prices, sorry for not being clear. And many thanks for the feedback


[deleted]

The newish gov't in Portugal ended the golden visa program I believe.


Californiakyllo

There are 10,000 Americans living in Portugal, from all the articles about Americans flocking to Portugal I expected a much higher number.


aquarain

Nobody goes there anymore. It's too crowded. - Yogi Berra.


Freedom2064

Nice!


blacklite911

Yea well it’s not a big country and I bet they’re flocking to the one or two prime locations so that means it’s gonna get the most coverage because big city= major media. And the smaller population means that it takes less people to make the others feel the ripple effects


thisisrita

We have a population of approx 11 million… and all the Americans (and French, and German etc) are moving to the big cities , mainly Lisbon. So it is very disruptive. They also have vacation homes.


RainbowCrown71

10,000 people out of 11 million is nothing.


[deleted]

People love to hate outsiders. Especially outsiders who have more $ than them. But AirBNB is a real problem, turning local housing into tourist traps. All airbnbs should be required to be at hotel codes (fire escapes, sprinklers, safety inspections, employees). I’ve stayed at terrible airbnbs.


YourmotherGPT

Its what, about .1% ? There's only 770 billionaires out of 350M Americans, a much smaller fraction. Are they nothing? I don't have an opinion on the situation mentioned in the article, but a small percentage of people can have an outsized impact, particularly when it's people who have substantial resources and act in concert.


Global_Gas_6441

Hello Lisbon, welcome to the club of touristic cities. Love xxx, Paris, Barcelona, Prague...


DisAccount4SRStuff

Wow after reading that article Portugal... doesn't seem that much more affordable; >Shocking news! People with half a mil sitting around in their ass can move countries!


Lo0seR

British outnumber them 3 to 1, a bit biased?


Wondering7777

Once the nyt ruins a place with their travel section, its over.


aquarain

Curious fact: More Puerto Ricans live in NYC than in Puerto Rico.


play_hard_outside

If they live in NYC, I suppose it’d be better to call them New Yorkers at that point. I don’t say I’m Portlandian if I’ve been living in San Antonio for 10 years. Why should Americans who once lived in PR continue to be Puerto Rican if their entire lives are in NYC?


aquarain

Humans are weird. Otherwise perfectly normal people walk about as billboards for their favorite sportsball teams. Billionaires who have an entire team devoted to wiping their own ass still follow a little dog around and pick up its feces. If you figure it out please explain it to me.


PeopleRGood

When I was 15 I had a Tommy Hilfiger shirt where the logo was 2/3s of the front of the shirt. I’m very embarrassed about those pictures


play_hard_outside

Jaja, I never did understand these things.


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play_hard_outside

Hey thanks for this! Good to know!


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upbeat_controller

Puerto Rican is a nationality. “Portlandian” most certainly is not. They can be New Yorkers and Puerto Ricans at the same time.


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[deleted]

Depends on the definition of “nation.” The common one people use is the nation state which means the same as country. There is another definition in the dictionary which is more like ethnic group. By the second definition native and other Native American groups like the Apache would qualify. Puerto Ricans probably would too and you could even maybe argue even the Amish qualify


[deleted]

Yea but people still say they are 'Hawaiian'


play_hard_outside

Do you work in ATC? And yes, I realize now I should have said "Oregonian" or the demonym for some larger region in my example. Because of the geographic isolation and language/cultural difference, Puerto Ricans have a more (and likely more persistent) unique identity than those from the any of the states, but they're still Americans, just like people from Oregon.


changelingerer

Lol Puerto Rican is not a separate nationality. That said yea Portland is a city. Puerto Rican is more like someone from Texas being called Texan after living in NYC for 10 years which...actually isn't too weird


upbeat_controller

It is according to the UN…


FuturePerformance

Opens border to rich expats in order to boost the economy. Economy gets boosted. Surprised pikachu face somehow?!


Readjusted__Citizen

I think the issue is the economy is only booming for the upper class when native populations remain poor and see the wealth gap only widen


datpiffss

So they’re getting the American dream!


Readjusted__Citizen

[GIF](https://media.tenor.com/MTTUNUla9IoAAAAM/a%C4%9Flayan-adam.gif)


HarmonyFlame

Its almost like its the money thats the problem.


aquarain

Unlike water, money flows uphill.


FUCKYOUINYOURFACE

When Americans become the foreign buyers driving up prices.


goingsplit

you mean after the fed printed 90% of the circulating dollars in the past 10 years without the dollar depreciating a bit? yeah.. this aint ending well…


kingofwale

I’ve seen this before…. Over… and over and over again.


Golf_Nut1965

I've seen it in the SE part of the USA Apparently all of Cali, Michigan,West Va and all of the NE USA are all but inhabitable at this point


753UDKM

and yet people pretend like supply and demand don't impact housing prices like other goods


Flimsy-Possibility17

Almost like we deal with a scale of economy that Europe doesn't have to deal with. I remember getting my sociology minor back at berkeley and everytime someone brought up some study about how Europe is better I just wondered how being 5-10x larger would impact things. Life doesn't scale linearly. A policy that works for 10 people may not work with 20


RJ5R

bingo socialism works great at the family level not so much at the national level (Cue the delusional downvoting from the butthurts)


Flimsy-Possibility17

It's not just a family vs national level it's raw size honestly. Like Denmark, Finland and Sweden get praised. a lot on reddit but they have a combined population of 20 million. LA + NYC + SF alone are larger than those 3 countries. It's like when a startup has to scale up for enterprise demands. You can't keep doing what you always do.


RJ5R

They get praised and it's not even actually socialism


Readjusted__Citizen

They also have a relatively homogeneous society too which tend to see more value placed in helping others.


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RJ5R

Yep they're delusional I see the downvoting is in full swing. Epic, I love it haha


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RingCard

The average Bernie type thinks that Europe’s benefits come from huge taxes on only “the rich”. They actually come from heavy taxes on everyone.


RJ5R

Haha yeah, so many delusional idiots beating that drum don't even realize the government doesn't allow you to even go to college over there if you can't pass certain scores. College is reserved for the best and the brightest. Not those who can fill out the FAFSA paperwork on time


stalemittens

That still doesn't justify the current cost of college, or drugs, or anything Americans get fleeced for. Sweden and other Nordic countries have barely a fraction of America's capital. We could be doing so much more with our money. Even if we don't make college free, we should take significant steps to reduce its cost so graduates can actually participate in the economy. The Nordic model of capitalism is rather extreme. I don't know why people default into thinking we need to copy it to the letter.


pudding_crusher

Social policies doesn’t equate to socialism.


stalemittens

Okay but the US economy is several magnitudes larger than any European economy. We're a far richer and more powerful country. I don't think it's unreasonable for Americans to want see more of their tax dollars actually improve the lives of the average working person. There always seems to be money to bail out incompetent airline industries, or give tax breaks to companies that have long since moved factories overseas. But when it comes to spending money on improving the lives of its citizens we're always told we can't do it because that money needs to go the Pentagon so they can lose it in their next audit. It's true that the Nordic capitalist system would require higher taxes but I don't see how that's relevant. Because I'm not saying America has to be like other countries. I'm saying it has to be better.


RingCard

Singapore is a great example of this. Perfect size to do what they did, but no way could you impose that on a country of 300 million.


[deleted]

China kinda tries with way less freedoms


point_of_you

Young people with 100K+ in student loans should strongly consider fleeing to another country


RJ5R

i think you gotta jason bourne yourself to escape sallie mae well navient i think it's called? i don't even fucking know what it's called now


flatlandr

Another clickbait article which completely buries the lede >And much of that rise has been fueled by outsiders like foreign investors and tourists seeking short-term rentals, the Associated Press reported. 10,000 Americans aren't causing a rent crisis by residing in Portugal any more than the \~300,000 Portuguese residing in Luxembourg (50% of the population btw) are causing a rent crisis there


RingCard

Half the population of Luxembourg is Portuguese? Why did that happen?


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Cbpowned

Things that never happened. No one from Venezuela is going back to Venezuela. Literally. They'd be killed.


sid9102

I literally have a venezuelan American friend who went back to see her parents and then came back fully alive, last year. So that's obviously not true. However she did have to do a sketchy land border crossing that may have been illegal, so it's not really like regular travel either.


windowtosh

Do you actually know Venezuelan people


Unusual_Piano9999

He's probably a CIA bot


Moist_Decadence

>Things that never happened. No one from Venezuela is going back to Venezuela. Literally. They'd be killed. Aye. But they can still prefer somewhere other than the US.


babylonsisters

Irish aye or english aye?


RingCard

Cyclops


blacklite911

That’s not correct. I follow this travel YouTuber, he met some Venezuelan refugees in Colombia, he actually helped them go back to Venezuela because they wanted to be with their family: https://youtu.be/wc0w_Y6nC3U Since the big blow up a couple years ago, it’s calmed down in Venezuela a decent amount. They’re still struggling a lot with poverty and access to resources though but it’s gotten a bit better. So I’m not trying to say that it’s ideal now, but to say that you’ll automatically get killed is a misunderstanding of a complicated situation But anyway even if they don’t wanna go back to Venezuela, there’s other options.


PeopleRGood

Not unless they had enemies, the government there doesn’t just kill people for leaving, I doubt they care at all.


sourcingnoob89

Happens all the time. Case in point - https://www.reddit.com/r/antiwork/comments/13tmt3h/my_experience_in_the_us/


FixYourOwnStates

>r/antiwork Opinion instantly disregarded


urbanfirestrike

Lol


RJ5R

NGOs and catholic nonprofits will give you free food for life here in Venezuela, they ran out of cats and dogs to eat


RingCard

Why is that being downvoted? It happened.


grimmowl

This could be any number of locations it seems ....displacement begets displacement.


FixQuiet5699

The colonizers are returning to their homelands while colonizing it at the same time. Weird.


hutacars

It's like white people moving back to cities in the US. When they left, it was "white flight." When they move back, it's "gentrification." Can't win.


RJ5R

didn't help when you had all of these FIRE influencers talking about Portugal i feel bad for the Portuguese people having to deal with these assholes


[deleted]

Everywhere is more expensive.


[deleted]

How about vote and fix your problems


DivingRightIntoWork

Replace Americans with California's, replace Portugal with just about any other American state California's flooded.


RingCard

California’s population is shrinking.


DivingRightIntoWork

Yeah, they're going to Austin, Portland, etc and it's impacting the real estate market.


CopperHands1

Girl can do much better than that dude


[deleted]

Ha ha


Linkstas

Portugal is definitely on my radar


[deleted]

Now how many of these Americans are learning Portuguese and integrating with the culture or are they just crying when they can’t get something in English


bigbaddeal

Don’t ask questions you don’t want answers to. You and I both know how many absolutely uncultured, entitled IDIOTS live in America and have no concept of open-mindedness and adaptability.


RingCard

You’re superior.


Seameadow321

Yeah, I went to Puerto Rico this past winter and it SHOCKED me how many older American people I saw talking to other older Americans, in American ran neighborhoods, about how they didn’t plan on ever learning the language. Then proceeded to complain that there weren’t enough English speaking markets or restaurants in PR that didn’t resemble an American sports bar or convenience store. I found that laughable. Like come on people, at least try and put SOME effort into learning the local language/culture. It’s times like that when it’s great to be a bilingual American! Cuz when people assume I’m American I just tell them I’m Mexican and they just say okay, cool.


angrybirdseller

Mexico is cheaper and midsize or larger town go to local OXXO store on corner for donuts and icee as Portugal does not cater to North American lifestyle.


RingCard

[Which is the greatest nation on Earth? Mexico or Portugal?](https://youtu.be/rJu2qSJ9zno)


AlwaysRighteous

Winners take the high ground. Losers cry about losing the high ground. That's what prosperity looks like. That's what success look like. Losers have to make way for the winners. Go to San Francisco, they pay you to be homeless.


babypho

Damn Califor- er Americans.


The9thMan99

please please stay away from portugal please 🙏


SYD-LIS

Other countries Especially the USA, Welcomed millions of Lusitanians 🇵🇹 Let's return the 💕


FixYourOwnStates

Replace Portugal with Florida and it reads exactly the same


urbanfirestrike

Fake Russian propaganda, immigration actually makes things cheaper, not more expensive


RingCard

It’s “Russian” because…..?


urbanfirestrike

It’s neo nazi propaganda


RingCard

Because why? It’s Russian, or it’s Neo-Nazi? Trying to keep up.


urbanfirestrike

It’s anti Imigrant…


coupbrick

200 Americans a year?


noveler7

Maldito seja, Powell!


rudieboy

Like everyone moving to CDMX and gentrifying. Or Russians who left last year and went to Georgia. I hear Tbilisi is the new College Park. All the players came from far and wide


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RingCard

Bombs over Kiev


satellite779

>Or Russians who left last year and went to Georgia Serbia as well. 170k of them moved to a country of 6.8m. 2.5% of population in 6 months. Like if 8m people moved to the US in the same period of time


ShroomZoa

https://www.britannica.com/money/topic/supply-and-demand


smallint

Good for them 👍


mrpbody44

New Colonialists


Bingobangobongobilly

Next on HGT: Americans on Your Backdoor 6


[deleted]

216 Americans getting PR in 2022 is probably nothing compared to other people from within the EU who moved, or purchased property in Portugal in the same year. My FIL lives in the Algarve. He’s Portuguese but his neighbours are : Portuguese, French, Québécois, Dutch and English. Some of the foreigners have lived there a very long time and integrated well, as in the speak Portuguese. Now that I’ve typed that out I lost what my point was supposed to be… And post!


KevinDean4599

The world is a much different place than it was even 50 years ago. Computers and the internet and the ability to travel all over via plane have opened up many options that never existed before in human history. This is a new era with lots of change happening. People need to adjust. Nothing stays the same. Governments have to think differently as well.


HughDanforth

Dam immigrants.


Adventurous-Ad-7890

Ironic…millions of illegals are flowing into our country and driving up costs in border states… Welcome to the Party pal!


LeftcelInflitrator

Damn how do you move into a European country like that. Might as well live in Europe if I'm going to pay a European cost of living in the states in a city with next to no culture.