From Business Insider, November 23:
- US private equity firms that own property in Spain have been evicting residents during the pandemic, the NYT reports.
- Tenants and housing activists have declared "war," protesting evictions by squatting in apartments.
- They argue that the investment firms have been profiting off the economic strain caused by the pandemic.
Renters who can't afford to pay their landlords are being
evicted, and they're furious about it. They're especially mad that their
landlord is a large investment firm headquartered in Wall Street.
But
what if I told you this was happening thousands of miles away from New
York City, an ocean away even, in Spain? And what if I told you the
Spanish evictees aren't taking it lying down?
Large American
private equity firms have been evicting renters from their apartments in
Spain as the residents have struggled to pay rent during the pandemic.
Renters, however, have been organizing against the landlords, lawyers,
and police officers trying to evict them, refusing to leave their own
homes and squatting in others.
A group called "Guerra a Cerberus"
— War Against Cerberus — has been fighting back against eviction
attempts, The New York Times reported
this week. The organization, made up of both residents and long term
housing activists in Spain, are protesting the firms that they argue
have been profiting off the financial strain of the pandemic, as well as
the court system, which they view as favoring landlords in eviction
cases.
Cerberus — named for the three-headed dog that guards the
underworld in Greek mythology — is a giant investment firm that began
buying cheap properties across Spain after the global financial crisis
started in 2008. Cerberus and other firms, such as Blackstone and Lone
Star, are based in the US, but collectively purchased thousands of
properties across the European country.
Members of War Against
Cerberus have been taking action when police officers and lawyers
representing private equity firms attempt to force residents out of
their homes. As they are physically removed from their apartments,
members of the organization squat in properties owned by the firms in
other parts of the city.
Dozens of households have occupied
buildings owned by private equity firms, War Against Cerberus told the
Times. The pressure the squatters exert on the large firms is
quantifiable: it can take several years in court and millions of dollars
in legal fees to have squatters removed.
War Against Cerberus
often posts their encounters with law enforcement on social media. They
also use platforms such as Twitter to rally support when residents are
evicted from their homes.
"Today the vulture fund Cerberus wants to take out Yousra and her family," the group posted
on Twitter last week. "The neighborhood has woken up with people from
all over, showing an organized and combative movement." A picture posted
with the tweet shows a blockade that the group formed in front of the
apartment they were demonstrating in front of.
"Our lives are worth more than all their properties, so #GuerraACerberus," an organizer shouted during one group meeting in October.
The
housing crisis in Spain worsened during the pandemic — with evictions
rising by 14% in early 2021 compared to the same period in 2020,
according to the government — but has been hitting residents hard since
the financial crisis of 2008. Homeowners went bankrupt, evictions rose,
and thousands of people lost their homes. In the last decade, the number
of renters in Spain grew by more than 40 percent, the Times estimates....
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It's always something. Just a few years ago it was mobsters and short-term rentals:
July 6, 2017
Russian Gangsters and Airbnb Are Pricing the Locals Out of Residential Real Estate in Barcelona
Speaking of short-term rentals, Vanessa at Messy Nessy Chic highlighted this Spanish Airbnb, also 2017:
Kind of an artsy-fartsy day, what with the big auctions and perfectly executed risk management and all.
just kidding, it was far from perfect, hence yesterday's disappearing act and today's spiffy new risk manager hat.
Via Messy Nessy Chic, 13 Things I Found on the Internet Today (Vol. CCXXXV), May 15:
3. This Airbnb Location
Designed by Ricardo Bofill and built in 1973, La Muralla Roja is an insanely colourful apartment complex which sits out on the rocks of a coastal town in Calpe, Spain.
...
MORE
Also in Vol. CCXXXV:
1. Stevie Nicks Kicking Butt in platform shoes in a 1983 Self Defense Manual
Previously from Messy Nessy:
There's Realism, There's Hyperrealism, There's Photo-Realism and Then There's This
Construction Used to Be More Labor Intensive (and other pictures you may not have seen before) CMB
Picasso Pics For Sale, Cheap (chateau included)
The Man Who Sold The Eiffel Tower, Twice and A (bath) Room With A View
Art Institute of Chicago Recreates Van Gogh's Bedroom, Puts it On Airbnb
Huh, Apparently The Barbie Doll Began Life As a High-end German Call Girl Named Lilli