German Of The Day: Fünfprozenthürde

That means the “five percent hurdle.” A political party has to get at least five percent of the votes in order to get seats in the German Bundestag.

The Left Party (communists pretending not to be communists) received only 4.9 percent in yesterday’s election so they’re out. Couldn’t have happened to a nicer party. Don’t let the door hit you and all that.

So, with them gone, the local Berlin vote to pass the non-binding referendum to expropriate real estate companies (already deemed illegal by Germany’s highest court) takes on an even more fantastic touch.

Germany: Berlin locals vote to expropriate real estate giants – Berliners cast their referendum votes on whether to nationalize thousands of housing units owned by real estate giants. After counting 27% of the votes, results found that over half voted yes while just 39% voted no.

There Are Still A Few Grown-Ups Around

Not many, granted, but there still appear to be a few left. In this case high court judges.

I wish I could say that about the Banana Republic.

Berlin rent cap oveerturned by Germany’s top court – Germany’s constitutional court has decided that the Berlin rent cap violates Germany’s constitution. The cap was one of the most-debated laws in the country.

We’re From Your Leftist Government

And we’re here to help.

Mieten

As usual, everything Berlin’s “red-red-green” city government touches turns to Scheiße. As usual, the media clones pretends that this is somehow news.

Berlin’s Rent Controls Are Proving to Be a Disaster – A year ago, the leftist government of Germany’s capital region imposed central planning on the city’s housing market. That was a bad move.

A year ago, a rent cap took effect in the city that was unprecedented in Germany. For all apartments built before 2014, rents were frozen at whatever they were on Jun. 18, 2019. Tenants in those units can also force landlords to lower rents defined as “excessive…”

These data confirm what economists had warned about — and what’s been observed in other cities that dabbled in rent controls, such as San Francisco or Cambridge, Massachusetts. The caps represent a windfall to one group of tenants: those, whether rich or poor, who are already ensconced in regulated apartments. Simultaneously, they hurt all other groups — especially young people and those coming from other cities — by all but shutting them out of the market.

Venezuela Here I Come!

Right back where I started from…

Berlin

Berlin’s state cabinet has agreed on a rent freeze for five years to counter rising housing costs in the German capital.

The city’s leftwing coalition government wants to freeze the rent for apartments built before 2014, according to a report by the German news agency dpa.

Only a minority of Berliners own their homes or apartments and rent has been rising sharply in recent years, forcing many to move outside the city.

So put back up that Berlin Wall.

Cause Venezuela here I come!