Madrid's Housing Crisis: A Ghost Town's Revival and the Struggle for Affordable Homes

Madrid's Housing Crisis Revives 'Ghost Town' as Residents Seek Affordable Homes The Spanish capital is experiencing a severe housing shortage, forcing many to seek housing in previously abandoned areas. Sesena, a town left deserted after the 2008 housing crisis, is now seeing a revival due to the influx of residents seeking affordable housing options. The situation underscores the growing tension between supply and demand in the Madrid housing market. "It's absurd," says Oscar de Miguel, a resident of Sesena, commenting on the intense competition for rental units. "There are so many people waiting, so many applications for each available apartment. It truly shows the tension between supply and demand." The video also shows another resident, Cristian Alsina, expressing similar sentiments about the difficulty of finding suitable housing. The population surge in Madrid, from 7 million to 8 million in just 15 years, has significantly contributed to the housing shortage. While some new construction is underway, it is not enough to meet the current demand. The city faces a deficit of 80,000 to 100,000 housing units, with only 20,000 built in the past year. This disparity highlights the urgent need for effective solutions to address the housing crisis in Madrid and prevent further displacement of residents.