Usury, Not Tourism, Is Why Owning Property Is Difficult in 2024

Owning property today feels increasingly out of reach for many people, and it’s easy to blame tourism platforms like Airbnb or Booking.com. But after my recent experience, I’m convinced that the real culprit is something more systemic: usury.

So, let’s dive into it. Usury, simply put, is the practice of lending money with interest. Lenders expect to get back their money plus a little (or a lot) extra, thanks to the interest rate. While the term isn’t commonly tossed around in everyday conversations, its effects are deeply woven into modern financial systems.

Here's how my personal experience ties into this. Recently, I had a booking on a popular platform get canceled, only to find out it was a scam. What I realized was even more eye-opening: many of the people renting out homes on these platforms don’t actually own the properties—they’re financed by the banks. The entire system is driven by debt, and in reality, it’s the financial institutions that have the upper hand, not the property “owners” you see online.

Many people point fingers at these apps for driving up property prices in tourist hotspots, making it harder for locals to buy homes. While these platforms certainly contribute, the root issue goes deeper. In these tourist-heavy countries, property prices are inflated by a financial system that thrives on debt and interest. The people most affected by this aren’t just travelers—they’re locals trying to buy property in their own crowded, expensive cities.

But here’s an interesting thought: do you really need to own property in a densely populated, overpriced urban area? The internet has transformed work and life, allowing people to live and work from almost anywhere. You don’t have to be tied to one location anymore.

Looking at this from a religious perspective, the three major Abrahamic religions—Judaism, Christianity, and Islam—have similar views on usury. Judaism prohibits lending with interest between fellow Jews, while Christianity’s stance has evolved and varies. In Islam, usury is strictly forbidden, equated to waging war against God. These religious teachings underscore how problematic the practice of lending with interest can be, morally and socially.

So, what can we do about it? Well, one option is to look beyond traditional urban centers and explore regions where land is still cheap. Many places that are now major cities were once deserts or sparsely populated areas. If you’re flexible and can work remotely, why not consider buying property in an area before it becomes the next big thing?

There are regions where the land is affordable, and the financial system hasn’t yet swooped in with its predatory practices. In these places, you could buy a piece of land near a beach or on a scenic hill for a fraction of what you’d pay in a crowded city. The catch? You need to do your research and build connections. Owning land in these areas isn’t as simple as swiping your credit card. You’ll need to navigate local laws, form relationships, and ensure you’re making a sound investment.

And while there’s always the concern about governments stepping in to take over properties, in many cases, that fear is exaggerated. Often, small transactions fly under the radar, and governments have bigger things to worry about than one person's modest plot of land.

In short, if you feel priced out of your local property market, it might be time to think outside the box. Usury is a global issue, but you don’t have to let it dictate your future. With the right mindset, some research, and a willingness to explore new regions, owning a home is still within reach.

Thanks for reading, and see you next time!