German companies face scrutiny on social issues
DaimlerChrysler, Siemens, Deutsche Bank and Germany’s other global companies can in future expect to be scrutinised more closely on whether their pledgesto behave more responsibly on social and environmental issues are borne out in reality.
HIC welcomes People’s Initiative for safe Homes and Jobs in North-Rhine-Westphalia
Habitat International Coalition (HIC) welcomes the people’s initiative for safe homes and jobs in North-Rhine-Westphalia, Germany, as an important step for the reinforcement of resistance against world-wide plundering of our housing stocks, cities and villages by miss-guided neo-liberal politics and completely dis-embedded global financial markets.
US Company buying German Housing
German cities are lining up for a mammoth wave of foreign investment in their property. Lured by a German real estate market that is the most stagnant in any major European country, and a vast supply of well-kept public housing, American and other foreign companies have already snapped up dozens of projects in Berlin, Bremen, Essen and other German cities.
REITs [Real Estate Investment Trust] create rental refugees
How US REIT AIMCO deals with renters: In their coalition agreement, the Berlin grand coalition basically advocated for stock market speculation via introduction of tax-free German Real Estate Investment Trusts, also known as REITs. But delegates of SPD’s [Social Democratic Party] left wing cry foul now. REITs could result in losses of trillions and create the destruction of Germany’s social housing structures. In the US, REITs make money by turning renters into refugees and by demolishing [mostly] HUD subsidized apartment complexes.