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#597 | The Global Housing Crisis Explained (English Listening Practice)

26 Feb 2026 · 29 min

Episode #597 | The Global Housing Crisis Explained (English Listening Practice)

0:00 28:40

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House prices have soared across the world, rising far faster than wages and locking many people out of home ownership.

This episode looks at why cheap credit, global investors, short-term rentals, and slow building have pushed prices ever higher.

It also asks whether governments can really fix the problem, or if expensive housing is the new normal.

• How house prices have outpaced wages since late 1990s. • Cheap credit and low interest rates drove prices higher. • 2008 crisis; policies kept prices from falling much. • Homes treated as a global safe asset for investors. • Demand outstrips supply: planning, NIMBY, limited land. • Rising costs, labour shortages, and developers holding land constrained building. • Population changes, migration, and smaller households increased demand. • Higher interest rates raised mortgages; prices stayed high from lock-in. • Local factors: Airbnb and visa schemes pushed prices up. • Housing wealth passed down; family help now often essential. • Are there any solutions?

Full interactive transcript, subtitles and key vocabulary available on the website: https://www.leonardoenglish.com/podcasts/global-housing-crisis

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