Ex-trader explains: High rents are a global problem!

Ex-trader explains: High rents are a global problem!

Gary Stevenson, a former Citibank trader who made millions, is now using his YouTube platform to raise awareness of the pressing housing crisis. With over 1.4 million subscribers, he advocates for higher taxes for wealthy people and explains how rising real estate prices affect society. The situation is particularly dramatic in large cities such as Frankfurt, Munich and Berlin, where rents have risen sharply in recent years.

In his videos and book, The Billionaire Game, Stevenson explains how he rose from relative poverty to become one of Citibank's most profitable traders. He emphasizes that the housing crisis is a global phenomenon that goes far beyond local political problems. In his view, it is misleading to place responsibility for the high prices solely on local authorities.

Rising real estate prices and their causes

Stevenson provides reliable data: Between 2010 and 2022, construction and real estate prices in Germany rose by 94%, while the inflation rate only increased by 25%. He not only attributes this to a mismatch between supply and demand, but sees property prices as part of a broader concentration of wealth. This trend can be observed throughout Europe. A study by the Finanzwende organization shows that the capital volume in residential real estate increased by almost 700% to over 60 billion euros between 2009 and 2020.

Stevenson argues that more housing alone will not be enough to significantly reduce prices. Added to this is the opinion of Christian Oberst from the German Economic Institute, who sees newly built apartments as an opportunity to dampen price developments. But despite these solutions, the question of social justice remains.

Social justice and tax measures

The ex-trader calls for a reform of the tax system in order to relieve the burden on the middle class and protect it from collapse. He believes higher taxes for the rich are essential in order to generate financial resources for social housing. He refers to Vienna, where a large public housing sector ensures cheap rents and the city is considered worth living in.

His approach is clear: real estate should be viewed not just as an asset whose prices tend to rise, but as a fundamental need of society. So the debate about the housing crisis is more than just a market issue; it is also a question of social responsibility and justice. As the discussion continues, one thing remains clear: rising prices are a complex problem that cannot be solved with simple solutions.

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