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Protesters rally against 'rental insanity' in large German cities

Some 25,000 people were expected in Berlin. Other protests were planned for Cologne, Frankfurt and Munich.
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Expropriation [!] could cost the heavily-indebted city some €37 billion in compensation payments, according to Berlin government, though housing activists have estimated the cost to be significantly lower.

Organizers are collecting signatures for a petition that calls for a referendum on the expropriation of housing companies, demanding that companies with more than 3,000 apartments be taken over for public benefit. They'll need to collect 20,000 signatures within the next six months, then another 170,000 by February 2020 for the referendum to become a reality. The latest polls show a narrow majority of Berliners support the idea.Expropriation could cost the heavily-indebted city some €37 billion in compensation payments, according to Berlin government, though housing activists have estimated the cost to be significantly lower.

Article 15: ideological transformation, some rentier math
AP | Berlin housing activists lead campaign to fight rising rents
The group's main target is Berlin's biggest landlord, Deutsche Wohnen, a publicly traded company that has 111,500 apartments in Berlin with an estimated market value of about 15.2 billion euros ($17 billion) -- the majority of which were acquired from the city over the last decade or so as the capital struggled with debt. With those and the properties of several other companies, a total of about 243,000 apartments worth more than 36 billion euros ($40 billion) could be affected.


Diversity is the key to economic and political evolution.
by Cat on Sat Apr 6th, 2019 at 04:44:56 PM EST
[ Parent ]
Rent control makes a controversial comeback
The order brings into force legislation voted in November 2018 (known as the Elan law), which grants cities the right to impose rent control, under certain conditions, as a means to protect tenants and create more affordable housing. Because Paris's city council already approved a measure to reintroduce the practice in December, all that remains is for local authorities to set caps on how much landlords can charge.
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"It is also misleading for tenants. The loss of income will lead private landlords to flee [!] the market, which will be a disservice to housing seekers in the long term. In the absence of a strong, private rental sector, they will no longer be able to find housing."
m'k.

Diversity is the key to economic and political evolution.
by Cat on Sun Apr 7th, 2019 at 12:29:17 AM EST
[ Parent ]

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