Expropriate Deutsche Wohnen and Co.
The Party Executive Committee of DIE LINKE supports the initiative for a referendum to "Expropriate Deutsche Wohnen and Co." in Berlin. Housing has become one of the central social struggles of the 21st century. Privatizations, deregulation and lack of housing has exacerbated the situation for millions of people in Germany. Inner cities are becoming deserted, certain residential areas are reserved only for the wealthy, people with low incomes are pushed to the outskirts. Since the financial crisis of 2008 and the following years, large hedge funds and corporations have increasingly invested their money in real estate companies. These companies are only yield-oriented and try to squeeze out of the renters as much capital as possible. Overpriced rents, increases in ancillary costs, no maintenance work or overpriced modernizations are shamelessly exploited to keep increasing the returns on investment. In Berlin alone, 14 real estate groups own around 240,000 residential units. These groups have to be nationalized, the housing stocks have to be transferred to public ownership. Housing is a human right, the housing market in Germany does not need any yield-driven real estate companies, but fair and solidary forms of housing. The referendum to "Expropriate Deutsche Wohnen and Co.” plays an important pioneering role in this context and has the full support of the Party Executive Committee.