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.”

 

Keep Berlin Poor!

And sexy, of course.

It all used to be so easy. But now property prices are rising like mad. This is not sexy, I am told. Unless, of course, you own property here, which practically nobody does. And that brings us back to poor…

Poor

About 85% of Berlin’s 3.4 million residents live in rentals and homeownership remains remarkably low — a condition fostered by the city’s turbulent history, Cold War division and five decades of communist rule in East Berlin. Almost by nature, Berliners tend to have a low regard for property owners…

Though still modest compared with other cities in Europe, rents in Berlin have risen 75% in the last five years. A recent survey by the property consultant group Knight Frank showed that property prices in Berlin rose 21% in 2017, the steepest rate in its survey of 150 cities around the world and far above the average increase of 4.5%. The biggest increases that year in the United States were Seattle, where rent rose 12.7%, and San Francisco, where they were up 9.3%.

“Once you move into an apartment in Germany, you are basically in the lease for life unless you cancel it yourself.”

Yuppie Scum Need Not Apply

What would you do if hords of uninvited strangers suddenly started pouring into your city for temporary visits in order to pump boatloads of money into your local economy? What would you do if affluent and upwardly mobile young expats moved into your neighborhood(s) and started opening businesses, buying homes and increasing the property values there?

Gentrification here? Nein, danke!

Why you’d freak the hell out and demand that they get the freak out of Dodge by sundown, wouldn’t you? Oh, you wouldn’t? Then you’re not German. Worse still: You don’t live in Berlin and you’re not a Berliner, either.

Viva the Hipster Antifa Neukölln or something.

“The anti-foreigner thing started as a bit of a joke but now it is much more serious. This is critical, it is sneaking into mainstream thinking – it’s almost being perceived as normal to dislike tourists.”