Business Daily Taking stock: How evicting an 87-year-old woman in Spain disrupted the debate on housing
Oct 1, 2026
Jennifer Pak, an NPR China correspondent, and economist Justin Wolfers examine the global housing crunch, from an elderly woman’s eviction in Spain to young people squeezed by rents in India, Britain and Nigeria. They explore fuel prices as a political flashpoint, falling car sales and the electric shift, China’s surprising mahjong trade boom, renewed interest in Mao, and pressure on OPEC.
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Housing Shortages Depend On Where Jobs Are
- Housing crises emerge when growing cities cannot add homes quickly enough to match demand.
- Justin Wolfers contrasts coastal US cities with Detroit, where abundant houses but few jobs push prices near zero.
Cheaper Homes Can Still Stay Unaffordable
- Falling property prices do not guarantee affordability when wages remain stagnant and buyers fear further declines.
- Jennifer Pak says Chinese workers still need family help for down payments, while smaller-city prices have fallen 30–40%.
Young Renters Are Trapped By Rising Costs
- Young renters in India, the UK, and Nigeria describe costs rising far faster than incomes.
- In Lagos, one friend’s household had six people sharing a two-bedroom apartment while jobs remained scarce.