Counter Hegemony

CH#22: Why are rents going up in Europe?


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Why are rents going up in Europe?In recent years, most European countries have been grappling with a sharp increase in living expenses. According to Eurostat, rents have soared by 18 percent and house prices by 48 percent since 2010. As a consequence, more and more households are having trouble paying bills. The crisis has been further exacerbated by rising inflation and high energy costs. On closer inspection, the rent problem is a problem of land and real estate ownership under capitalism. The growing unequal distribution of land and real estate is a major cause of rising rents. Rents are a noiseless transfer of wealth, primarily from the working majority to multinational real estate and financial investment companies. Rising rents are not only making housing more expensive. Land rents are included in the price of every product we buy. With every product we buy, we are paying for the land use required to produce it. So to fix the rental problem, we need to address the issue of land and real estate distribution. Who owns what? Who profits? And who has to pay rent?
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Counter HegemonyBy Aaron Tauss