this Saturday, is wanted by the German capital of socialism-home. The at least the opponents of the Berlin people’s desire to participate in the weekend its the beginning and already is now far beyond the city violent quarrel excite fear. The proposal in question, is radical: real estate corporations, with more than 3,000 apartments are to be expropriated – to reduce the rental rates.

in fact, have doubled the Rents in Berlin between 2011 and 2018, almost. Even those debt which are to be expropriated. Nevertheless, much speaks for a radical step: The Senate of Berlin would have to compensate for the housing corporations, what is the cost of according to official estimate more than 30 billion euros. The population of Berlin, which is growing annually by tens of thousands of people, is in need of new homes – and thus also to investors who build these apartments.

the main Argument for dispossessing opponents is this: Who is for the referendum vote, the weakness of the citizens ‘ trust in the market economy. The large housing corporations, which have ruined the trust in the market. Because you think, especially on returns. And, more rarely, to their tenants. Their homes in public housing would convert only to create a little more justice on the real estate market. A market that is not subject to the free play of market forces, but to the right of the Stronger.

publicly-traded corporations care more about investors than renters

managed the citizens who initiated the referendum, and that your proposal is something that successful politicians with laws such as Rent control: do not tinkering with the symptoms of the failed housing policy of the past few years, so the high Rents – they want to get to the causes.

Of every Euro that is invested in Berlin in the housing, came in the year 2017, according to an industry study, 58 cents from the coffers of foreign investors; in addition, a significant proportion of large German corporations. Many of these investors are listed on the stock exchange, you have to care more to their investors than to the General public – and a swipe in Germany, still the largest tax benefits. Even Warren Buffett is now entered in the Berlin housing market – the US Investor, for returns over 20 percent. In order to achieve the actually need to explode the Rent, it’s not different.

This article dates back to the TIME no 15/2019. Here you can read the entire issue.

The people’s desire, on the on Saturday will be voted, shows how broken the real estate location of Germany is in Many places, he is not a functioning market, but rather a Casino in which speculators and institutional investors gamble with apartments, such as Oil or Gold. Not just in Berlin, but in dozens of cities large and small. Only you can see it in the capital better than anywhere else: because the Rents are rising there faster. And because people are often poorer. In Berlin, 18 percent of the population of minimum security of life. The proportion of social housing is at 13 percent. Who wants there people to find a home, the mediocre or bad earn, has to build. And the share of publicly funded apartments.

Who should now fear for the right to property, can relax: At the end of the law for the expropriation of housing companies is not come – at least is currently. When the Berlin votes for the referendum and for the expropriation, would have to check the Senate first, whether the Constitution is compliant. And ensure that the budget is not burdened beyond measure. Because the damages are horrendous and because Berlin is introducing soon a debt brake is likely to be difficult. And A large part of the Berlin government does not want the expropriation, mayor Michael Müller. You look at the majority of those who will decide it at the end, one thing is clear: Nobody has the intention to expropriate a company.

So seen the people’s desire is not a wise political threat, and more. But one that works already now: in the Middle of the dispute to the people’s desire, Berlin’s mayor has announced that former state-owned apartments to buy back from one of those corporations, which want to expropriate the supporters of the people’s desire.