In Spain, "Una familia, una casa" has become a prominent political slogan and debate topic spearheaded by left-wing politicians, most notably Gabriel Rufián. The thrust, backed (more or less) by the Spanish Constitution, is that every family should have a home. This, many would argue, should come before profit, especially in the guise of the ‘Vulture Funds’ – who tend to buy entire blocks of apartments in their endless search for profit.
The Vulture Funds (often but not always foreign carrion-eaters) may aim to increase rental-prices or add some slap-dash repairs and seek fresh tenants. They might plan to remove their existing tenants (known in the trade as ‘las cucarachas’), or perhaps leave the building entirely empty waiting for higher property values or maybe turn the apartments into short-term tourist lets or even a hotel. Who knows, and perish the thought, these scavengers might even enlist the help of a city councillor to expedite matters.
Circling just behind these birdies – who are just as happy investing in houses as in anything else with good opportunities – we have los grandes tenedores – landlords that own either ten or more homes or over 1,500m constructed. It can be a great business, especially if you divide the apartments into various rooms-for-rent, demand being what it is. .jpg)
So Maricarmen. Article 47 of the Spanish Constitution establishes that all Spaniards have the right to enjoy decent and adequate housing, ‘though it is categorized as a guiding principle of social and economic policy rather than an absolute fundamental right’ (says Google AI properly), but housing isn’t just in the hands of the state, but rather under the control of the regional (and city) governments.
Maricarmen Abascal was a victim of this mess. She had been living in the same apartment since Franco’s times (when prices were cheap, there were firm rent-controls and not everyone dreamt of being a capitalista). Her parents moved in along with Maricarmen back in 1957 and until recently (as the only survivor) she was paying 500€ a month. A Spanish investment company bought the whole building a few years ago and suggested that she should be paying a more reasonable rent – like 2,650€ a month. Long story short, the 85-year-old was evicted last week and carted off to hospital. Serves her right, eh?
Not everyone would agree, and there have been protests – a sit-in began in Madrid’s Puerta del Sol on Saturday which soon turned itself into a tent-city.
Not that she was the only one – evictions in Spain (whether vulture-related, foreclosures, rent-in-arears or squatters) are numerous. Indeed, says Público, there’s an average of 44 evictions taking place daily in Spain. Not that you’ll see any flag-wavers or right-wing banners amongst the protestors.
The story has gone worldwide. ‘The dramatic eviction of Maricarmen has put Spain’s worsening housing crisis back in focus, amid rising rents, limited affordable homes and a political fight over tenant protections’, says an Asian source.
The Government had tried to resolve this issue back in April this year but were shorted by the contrary votes of… well, the usual suspects. It’s now trying once again. Meanwhile, Urbagestión, the investment fund that evicted Maricarmen, feeling hurt by the negative press, on Monday relented and said she could have her old place back again.
Building more homes is all very well, and very necessary, but with the law of the jungle, where the new homes are picked up by the wealthy for speculative purposes, more attention needs to be placed on building rent-controlled council-homes, an expense which has fallen by 43% since 2002.
An item in Marca notes that Canada, faced with a similar issue, found the solution by stopping foreign venture-capital from entering the residential housing market.
Spain’s minority government has now proposed (once again) rent-controls, a halt on all evictions until 2030, and banning the purchase of housing by investment firms.