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Less equity: SPD plans new initiative for private home ownership

2022-07-25T05:43:10.314Z


In the meantime, even a solid income is no longer enough to buy a home if you don't have enough equity. This is exactly where the SPD wants to start.


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Detached houses: Alternatives to equity sought

Photo: Julian Stratenschulte / dpa

The SPD wants to create a new instrument to promote home ownership.

"Ultimately, it's about replacing equity," said SPD Secretary General Kevin Kühnert of the "Augsburger Allgemeine".

A government program is needed to enable households with a stable income but without large reserves to own their own property.

Work is being done on this in the building ministry of SPD Minister Klara Geywitz.

Many people bring decent wages home, explained Kühnert.

"But if you can't contribute anything to the financing from home, then the purchase doesn't even come about."

With a view to the government's goal of creating 400,000 new apartments every year, Kühnert was confident.

The goal is “sporting” but “possible if everyone makes their contribution”.

Experts and associations in the construction industry, on the other hand, already consider the project to have failed.

However, this is not only due to the sluggish issuing of building permits and ever stricter official requirements, but also to the drastic increase in the price of building materials and the lack of workers.

mike/AFP

Source: spiegel

All business articles on 2022-07-25

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