German Of The Day: Eigentum

That means property. But property doesn’t mean much in Germany anymore. At least not in Berlin under its current “red-red-green” city government.

Property

Another word you might be interested in here is Enteignung.

German officials facing protests and endless complaints about threats to affordable housing in the nation’s capital have decided the solution may be a five-year ban on rent increases and fines as high as $550,000 for violators.

Officials in Berlin, a city of about 3.7 million residents long known for its affordable housing options, announced this week that they plan to temporarily freeze the rents charged on publicly and privately owned apartments in a bid to halt runaway gentrification.

“It will scare away investors who will find alternative markets with less regulation. It’s a socialist and populist attack on the free market and it’s not going to lead to a single new apartment being built.”

 

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