Politics nd
socialization | Act to protect the real estate lobby
The federal government plans to prevent socialization through a so-called investment protection law. This only helps private housing companies.
Deutsch (original) ·Auto-translated to English
A real estate lobby Photo: dpa/Britta Pedersen Have you heard: The left-wing expropriators in Berlin want to take away Swedish grannies' pensions. Do you still have sounds?! Well, luckily the German Interior Minister is stepping in to prevent that! From debates about unconstitutionality (vonovia complains) to increasing loans (threatening banks) to Swedish old-age security, the discourse surrounding the socialization of apartments in the capital has now reached a very bizarre level.
Interior Minister Alexander Dobrindt (CSU) is now planning to stop Berlin's ideas through an "investment protection law." It will only be possible to socialize if all other means – i.e. investments in and support for housing construction – have been exhausted. We have known for a long time: Unregulated construction does not lead to more affordable housing. And the longer it takes until something finally changes in the housing market due to such delaying tactics, the faster the housing crisis will worsen. In addition, compensation costs for mergers should correspond to the market value in the future. Berlin definitely cannot afford that; it de facto prevents socialization.
The Social Democratic Ministry of Justice and the Ministry of Construction worked on the proposed law. Of course, Dobrindt and company are not interested in tenants in Germany or in Swedish grannies. The only person who would be protected by the new law is the real estate lobby.
And now what about the grannies? The Swedish real estate group Heimstaden is one of the large private housing groups that would be affected by Berlin's socialization. In Sweden, several pension funds have shares in the group - depending on how severe the Heimstaden losses are, pensions there could also be affected. One more argument not to make public services dependent on profit-driven private companies on the stock market.
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