Germany, the rich nation that does not encourage people to own homes

Apartments in Germany. Home ownership rates are unusually low in the rich country.

Conventional wisdom has it that home ownership is crucial to a stable economy. But not in Germany. According to Quartz (qz.com), Germany’s home ownership rate remains quite low. “It was 43 per cent in 2013.” Compare this to Spain’s 80 per cent.

World War II left Germany’s housing and the economy in tatters. A government housing programme sought to “boost construction of houses which, ‘in terms of their fittings, size and rent are intended and suitable for the broad population.’”