Jun. 8 at 3:29 PM
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ABN AMRO devalues its own collateral with flawed 2050 forecast
The warning from ABN AMRO's Economic Bureau about a surplus of single-family homes in 2050 is reckless. A major bank that provides long-term mortgages should not rattle the market with speculative, far-future scenarios. It needlessly scares off current buyers from purchasing existing homes under the guise that they will lose value. This is nonsense, as older homes can easily be retrofitted and sustainability upgraded under one's own management.
Naturally, the bank is right that demographics are changing. The demand for suitable apartments and courtyard housing for the elderly is massive, and these absolutely must be built. However, that does not mean the family home is obsolete. ABN AMRO ignores the hard reality of consumer preferences. Many singles and couples crave a single-family home for the peace, extra remote-work space, and a private garden.
