I will explain how speculation works here: they bought houndred of thousands of houses during the 2008 crisis, they keep some closed to reduce the offer and increase the pricing. meanwhile they sell housing for vacational rent or other investors and the price continue increasing.
is not just a lack of “offer” or “constrained supply”. they bought the houses and keep a lot of them closed to increase their earnings artificially.
and the right wing setup rules to “free” social houses in a lot of regions and allow them to be sold to speculators after that time finished (Madrid is an example). plus a lot of the houses were sold to private investors by the right wing during the crisis to the cheapest pricing possible.
a lot of people living in those houses are at the edge of eviction because those investors want to resell them or increase the rent as rich foreigners offer them more, or just resell them to other investors.
They only have the funds to do that because of wealth inequality. This is downstream of the massive growth in inequality.
Needs a wealth tax. Make holding more than 10m euros worth of property a yearly expense and the foreign speculators will invest elsewhere, and prices will come down.
i need to add that the right wing spreads misinfo about inmigrants occupying the houses of people (big lie) to fearmonger those who want to rent, pay for occupation insurance and offer seasonal rents (vacational rents renamed in a different way) only.
recent laws for housing regulation (declaration of stressed zones to limit the maximum pricing as example) are not being applied in a lot of municipalities (governed by right wing) and «owners» skip them by dividing a flat in rooms, they rent you a room which is not legally a flat/house so the law does not apply to them.
Housing crisis is because of constrained supply. Foreign rich speculators bet it will stay this way. Not the dumbest bet.
https://hub.netzgemeinde.eu/item/50256a95-ca1d-5da0-904c-2c4988198019
i think this is the best graphical summary x3
I will explain how speculation works here: they bought houndred of thousands of houses during the 2008 crisis, they keep some closed to reduce the offer and increase the pricing. meanwhile they sell housing for vacational rent or other investors and the price continue increasing.
is not just a lack of “offer” or “constrained supply”. they bought the houses and keep a lot of them closed to increase their earnings artificially.
and the right wing setup rules to “free” social houses in a lot of regions and allow them to be sold to speculators after that time finished (Madrid is an example). plus a lot of the houses were sold to private investors by the right wing during the crisis to the cheapest pricing possible.
a lot of people living in those houses are at the edge of eviction because those investors want to resell them or increase the rent as rich foreigners offer them more, or just resell them to other investors.
They only have the funds to do that because of wealth inequality. This is downstream of the massive growth in inequality.
Needs a wealth tax. Make holding more than 10m euros worth of property a yearly expense and the foreign speculators will invest elsewhere, and prices will come down.
Also the spanish budget will get a break.
i need to add that the right wing spreads misinfo about inmigrants occupying the houses of people (big lie) to fearmonger those who want to rent, pay for occupation insurance and offer seasonal rents (vacational rents renamed in a different way) only.
recent laws for housing regulation (declaration of stressed zones to limit the maximum pricing as example) are not being applied in a lot of municipalities (governed by right wing) and «owners» skip them by dividing a flat in rooms, they rent you a room which is not legally a flat/house so the law does not apply to them.
~~Rightwingers want to build more houses.
Leftwingers want to expropiate houses used to speculate.
Choose your side.~~
It’s these vague generalizations that really cut to the throat of politics.
The guy below detailed it better so I’m striking my comment above.
which guy? i don’t see anyone more posting and i am not a “guy”
Sorry but I don’t see your pronouns on my app and I didn’t realise you were from blahaj.
literally are in my nickname :/
is your app only showing the username of the user?
yes, it only shows username and instance (sometimes)