The economist Gonzalo Bernardos warns about the future of rentals in Spain

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2023-11-07 01:48:24

Tuesday, November 7, 2023, 00:48

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Gonzalo Bernardos assures that “rental is going to be a brutal problem” in Spain, due to the Housing Law approved by the Government of Pedro Sánchez.

The professor of Economics at the University of Barcelona predicted, in one of his interventions on the television program ‘LaSexta

Firstly, because “youth earn very little, and the number of people who work full-time and are poor has become increasingly widespread in Western Europe.” Furthermore, rental homes are, “in many cases, overpriced for what is charged.”

According to a joint study by Fotocasa and Infojobs, Spaniards will dedicate 43% of their salary in 2022 to paying the rent for a typical 80-square-meter home, when ten years ago that percentage was 30%.

Finally, Bernardos emphasizes that “there are very few people, fewer and fewer, who can access a home for sale for those salaries. “I could access it in 2025 or 2026, but not now.”

Blame the Housing Law

The blame for this situation does not lie, in his opinion, “neither the landlords nor the tenants, but rather those who have not done their duties: the Government and the public administration.” Among other reasons, because “he doesn’t feel like any of the ways to obtain social rental housing. “In what has been built in 2022, at most there are 1,500, it does not solve anything.”

The Catalan economist criticizes the limited scope of one of the Government’s measures to facilitate access to housing for young people up to 35 years old and families with dependent minors: the endorsement, by the Executive, of 20% of the mortgage, which will allow this group to finance up to 100% of the purchase of the property. “It has only been given to 50,000 (people), when there are more than a million who could fit into that program,” he says.

Hence, he warns, to rent a home it is necessary to pass a severe casting call. “For example, a real estate agency in Barcelona rents a home for five days, and has 257 requests, and they tell her ‘I’m going to pay you more if you give it to me,'” she explains.

This is not the first time that Bernardos has given his opinion on the real estate market. Some of his television interventions in this regard caused great controversy. For example, the one raised in connection with the complaint of a young woman who paid 750 euros per month in Madrid for a studio, a space “without decent conditions for teleworking.” In addition, they asked for a four-month entry fee. “It doesn’t make sense,” he lamented.

Professor Bernardos responded that he had not thought about living in Móstoles. “He lives very well there,” he added. The economist has criticized on more than one occasion the, in his opinion, determination of young people to look for housing as close to their place of work.

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