Affordable Rents? A State of Emergency Intensifies (tags)
Rents explode in cities after massive sales of public housing to brutal investors. In 1987, there were 5.5 million social apartments in Germany. Today, there are 1.5 million. Land speculation was prevented in Vienna. The Vienna Housing Fund buys up possible development land.
Neglect of Public Housing (tags)
Crisis and chance are represented by the same Chinese letter. Big US and German cities have sold off public housing to gain revenue. The Federal Low Income Housing Tax Credit program has financed 2-3 million units. The state is obligated to protect from the brutal market.