The housing crisis is prevalent everywhere in Europe, though. But it’s not like droves of people have to sleep rough. Yes, rents keep going up, but they are still only a fraction of what you would pay in the US.
And you can actually still buy houses. Really cheap, even. Far off the highways, but some people opt in to exactly that.
In tech, is there really a need, though? All of this year’s new hires I’ve met communicate exclusively in English. No-one cares.