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In This Country, Most People Rent for Life. Is That Really What They Want?
At a time when many young people in places like California and New York can’t see a path to buying a home, Switzerland offers a glimpse of a post-ownership society.
Nov 6, 2023, The New York Times
In any other country, Philip Skiba, a well-paid analyst working in the finance industry, might not hesitate to buy a home. But in the town where he lives, on the outskirts of Zurich, even the ugly houses, as he describes them, go for millions.
Last year, a simple, beige stucco home in his neighborhood went up for sale. The price: 7.5 million Swiss francs, or about $8.3 million.
“My first thought was, this is ridiculous, it’s almost an insult,” said Mr. Skiba, 41, who shares a rented apartment with his girlfriend. When the house sold several weeks later, it reinforced for him the reality of homeownership in Switzerland these days. Buying a single-family home anywhere near Zurich is not just a luxury.
