Leading article on the housing protection initiative – Basel must stop investors from Zurich – but at what price?
Basel has to stop the investors from Zurich – but at what price?
If the Housing Protection II experiment goes wrong, it is the new tenants who pay the price.
When I recently spoke to a representative of a major Zurich investor, he did something very strange: he compared apartments with cars. Basically, he would like me: Why is there such an outcry when someone can no longer afford their apartment? Why do people find that mean? After all, you don’t think it’s mean when someone can’t afford a certain car.
This comparison is revealing. It shows how little is investors from outside are aware of the sensitive goods they are dealing with. They advise total renovations, even if they are not necessary. They show no consideration for the elderly who can no longer look for accommodation. You only see numbers. An apartment is However not a product that you can do without. You have to live.