Matthias Bernt, "The Commodification Gap: Gentrification and Public Policy in London, Berlin and St. Petersburg" (Wiley, 2022)
New Books in Economics
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Transic-Transition, the Ways of Transformation From Socialism to Capitalism
In East Germany, the transformation from socialism to capitalism was mainly accompanied by a restitution of property. So in areas like Prince Lower Berke, which were already built up before World War II, houses were given back to their original owners and usually they were sold quite fastly. This accounts for something like 90, 95% of the buildings here. And these private companies bought them at high prices at a heated up housing market in order to betterize themQuite quickly and to make profit with them. What these affected in is a really strong, strong market pressure, clear property rights and high incentives to renovate the building and demand higher prices after that.
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