Centeno calls for "patience" for housing construction and sees the United States "failing"

Mário Centeno, former governor of the Bank of Portugal, emphasized the need for patience in the housing construction sector's recovery during a conference at the University of Lisbon. He linked the housing crisis in Portugal to insufficient supply amid rising demand, driven by increased wages. Centeno noted that the construction sector, severely impacted by past financial adjustments, requires time to rebuild. He also criticized U.S. economic policies under Donald Trump, suggesting they contribute to the country's decline. Centeno advocated for deeper European integration and condemned anti-immigration rhetoric, asserting it hinders economic development.