The Viennese municipal housing system is a relic of socialism and a clear distortion of the market. Rents are half the price of those on the free market, subsidized by taxpayers. Access typically requires personal connections or years of waiting β the advertised apartment, for instance, had a seven-year waitlist. Once secured, these apartments are rarely given up, often passed down within families to retain the advantage.
This system artificially reduces supply on the open market and drives up private rents β a system introduced by the SPΓ (Social Democratic Party of Austria), which was re-elected just yesterday with 40% of the vote.
Economic policy in Austria β particularly in Vienna β is a tragedy.
#GrowNostr #Nostr #Economics #Austria #Vienna #TaxationIsTheft #Bitcoin
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