The transformation of housing into a financial asset
On April 8, Catalonia took a significant step in regulating temporary rents, while Jaime Palomera presented his work ‘The abduction of the house’. This book goes beyond the analysis of the inequality between tenants and owners; It offers solutions to reverse the current situation. Palomera, a prominent researcher, invites us to reflect on a system that has turned housing into a simple financial product, a trend that could be puzzled even Adam Smith.
The owners society: A failed model?
Historically, the idea of owner was promoted as a form of social control, under the belief that having a home would guarantee stability and freedom. This premise, however, has generated a system in which those without properties are excluded from an increasingly closed circle. Palomera emphasizes that this culture of property, which expanded during the dictatorship, has left many families in a precarious situation, where access to a home is a luxury.
The contradiction of property
For many working families, their own home represents the only source of generational wealth. However, this ideal can be transformed into a form of slavery, where the need to maintain an asset undermined its freedom. Palomera illustrates this paradox with the testimony of a neighbor of Meridiana city, who found in his property a form of dignity, despite the adverse conditions.
The impact of the 2008 crisis on the real estate market
The financial crisis exacerbated the existing inequalities, with the state intervening to maintain the prices of real estate instead of allowing their fall. The investment funds, with their ability to take massive debt, contributed to the concentration of properties, leaving future generations without the opportunity to owe. This dynamic has created a society more and more like fascism, where social rise depends on the inheritance and not on merit.
The gap between supply and demand
The arguments that indicate the lack of offer as a cause of the increase in prices are simplistic and wrong. Palomera explains that the scarcity of soil and the monopoly of the owners prevent the supply from being translated into lower prices. The speculators, who see the house as an asset, perpetuate this dynamic, turning the needs of the population into a zero sum game.
Rendism: A System that Perpetuals
Palomera claims the term ‘rendicism’ to describe a system that benefits a few at the expense of the majority. Its analysis contrasts the worker who inherits a property with the large investors who accumulate wealth through speculation. The true struggle is not between neighbors, but against an economic structure designed to enrich the most powerful.
The need to regulate and rethink strategies
Rental regulation is just a surface solution. Palomera proposes a deeper debate that addresses the root of the problem: speculation. It is essential to discourage the purchase of assets and create a tax system that penalizes the housing of housing, while protecting access to housing for working families.
Final reflections on the future of housing
The path to a more equitable society is to recognize and modify the rules of the game that allow speculation. Without structural changes, inequality will only aggravate, leaving future generations trapped in an endless debt and exclusion cycle. Palomera’s vision invites us to rethink the current model and fight for a home that is a right for all.