German Tenants: REITs - poison for social housing

Knut UNGER, 2006

association d’habitants; groupe financier; logement social; spéculation

Ruhr District Tenants Associations did not like to become the hunted. In Sept. 2006 they wrote a long letter to treasurer Steinbrück:

“REITs are poison for social housing and cities in Germany!”

In a summary they highlighted the following consequences of REITS:

The permission of REITs…

REITs are suitable to destroy the remainders at social housing industry which we still have in this country. They serve the interests of financial investors, who invest not into productive plants, but speculatively cannibalise social fortune.”1