Europe is in Crisis European energy costs are 10X the norm… not only aren’t home prices expected to crash, they’re headed up … the War on Affordability is crushing consumers The situation in Europe is alarming – and growing worse. From Bloomberg : British households were told on Friday that their power and gas bills will increase from Oct. 1 by 80%. The so-called energy price cap was set at £3,549 ($4,189) per year, up from £1,971 over the past six months and £1,277 during last winter… …The problem is broader than just rising costs. Increasingly, the words “emergency” and “shortages” are being used, with participants focusing on when, rather than if, a crisis will hit. And this comes from Reuters : No more ironing, limited oven-use and showering at work – Europeans are trying to keep their energy use down but the bills keep climbing. As wholesale gas and electricity prices surge, millions of people in Europe are now spending a record amount of their income on energy, data show. The European benchmark for gas prices has exploded 550% in the last 12 months.