2023-05-13 01:18:44
Saturday, May 13, 2023, 01:18
«The Bank of Spain says that the amount of rents grows more than wages, which raises the proportion of people at risk of social exclusion: 50% of families renting are at risk of poverty and 41% of families for rent. The economist Santiago Niño Becerra once again emphasizes the housing problem after stressing a few days ago the shortage of supply in the rental market, pointing out the need to create a public parquet. “Either a public rental housing policy is implemented, dedicating the billions needed to it in order to compensate for the decades of delay, or the expropriation by the State of the owners of the number of homes that exceed to the unit and are assigned with a social rent. Or one or the other. There are no other ways to increase the supply of affordable rental housing. There is no! », He stressed.
This time he emphasizes the fact that many families «have to dedicate 40% of their disposable income to pay it. If we add to this that between 2021 and 2025 the average salary is going to lose 6.1% in purchasing power, calculate what social dynamic is taking place in ESP.
Its analysis is based on the estimates made this week by the Bank of Spain based on data extracted by Eurostat in its report regarding the 2022 financial year, which indicates that four out of ten rental households dedicate more than 40% of their income to pay the landlord. As if that were not enough, the 50% of Spanish households that are teetering on the danger of poverty or social exclusion give Spain a lousy record. It is the highest percentage in the entire European Union.
This is how the Bank of Spain makes it clear in its report: “high rental prices, compared to income from work, increase the proportion of the population at risk of social exclusion and of households with restricted spending capacity on other goods and services ». And in this scenario, according to the institution, “developments in the housing market have a very marked impact on levels of inequality and vulnerability.” That is to say, the impact is not only economic in particular, but it can vitiate the market. “Thus, for example, there is evidence that a high percentage of home ownership tends to reduce wealth inequality,” exemplifies the Bank of Spain, showing off one of the dangers of having a roof in this country. Or not have it.
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