EXPERIMENTDAYS 10 special: Eurovisions

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fighting foreign investment

I think that there are still hundreds of buildings all over Berlin that are empty and waiting to have occupants. One of the big problems is the speculative bubble from investors and developers that they see Berlin as a goldmine, no-brainer investment. But this makes for hysteria like the cow that fell in the piranha river. Banks were nearly giving away mortgages, but how can you compete when you just want a flat, but the housing corporation wants the whole building?
Rent has gone way up, and apartment prices too. But wages and salaries haven't increased to match and Berlin has worse unemployment than Spain (anywhere up to 30%!).
Unless Berlin's productivity doesn't go up significantly in the next 5 years (which it may), I predict a market correction that will leave some (greedy) people and corporations left looking for government hand outs again.

Simon more than 4 years ago

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