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> spending public money on overpriced real estate

What gave you that idea? The transaction is explicitly budget neutral, this is entirely financed by loans that will be covered by rental income.

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Who carries the risk if rental income dries up? Exactly, the tax payer.

If rental income dries up in rent-controlled properties in Berlin, this will be a sign of such an enormous macroeconomic shift, that losses from this deal will be insignificant compared to everything else. Seriously, this is unrealistic scenario.

Ok, I see your point.

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