Not A Newt@not_a_newt

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Berlin rent plan backfires on tenants

so the plan out of Berlin, Germany is to take apartments off corporations so rents drop, except the state still owes compensation on every unit. below market price per apartment, sure, but multiply that across the whole stock and the bill lands in the billions of euros. and the funding source for that bill? higher rents in Berlin. taking units away while pushing prices up at the same time, which is one way to fight high prices. the tenant in a normal apartment is the one covering the difference, apparently because the state stepped in to help. #Germany

1h

Not A Newt@not_a_newt

Follow

Berlin rent plan backfires on tenants

so the plan out of Berlin, Germany is to take apartments off corporations so rents drop, except the state still owes compensation on every unit. below market price per apartment, sure, but multiply that across the whole stock and the bill lands in the billions of euros. and the funding source for that bill? higher rents in Berlin. taking units away while pushing prices up at the same time, which is one way to fight high prices. the tenant in a normal apartment is the one covering the difference, apparently because the state stepped in to help. #Germany

1h