Germany manages scarcity. Austin lowers rents.

New housing is often dismissed as a benefit for higher-income households. A closer look at Berlin, Austin, and Florida shows how additional supply can ease pressure across the wider housing market—and why regulation alone cannot solve scarcity.

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Mirror of the Economy: Why Real Estate Is never a Standalone Asset

The dogma of crisis-proof real estate is a dangerous illusion. Properties are not autonomous stores of value—they are the unyielding mirror of the economy upon which they are built. A macroeconomic reality check on pseudo-diversification, eroding locations, and the urgent need for a fundamentally new, global asset allocation.

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