The property was transferred to the Blackstone Fund after foreclosure and has then remained empty and in precarious condition. The Housing Union explains that it was then occupied and rehabilitated by a group of people without other alternatives.

A year ago, organized with the Housing Union, negotiations began with the owner. ‘After an attempt at bribery and a number of threats’, the union explains that they are now at the final stage of the judicial route and that the result, ‘certainly’, will be an immediate eviction order.

Vulture funds

The Housing Union has warned that we live in times of crisis and that the living conditions of workers are "constantly attacked". In this context, housing is a source of accumulation for small and large owners.

In this situation, vulture funds are increasing. These corporations purchase low-cost mortgages and ‘high-risk’ properties for sale and profit. Blackstone is one of the largest vulture funds in the Spanish state.

“Putre funds accumulate many properties, achieving the capacity to condition the real estate market and housing policies,” explains the Housing Union.

The union has recalled that these funds fulfil a function that ‘benefits’ the bourgeois state, saving economic and media costs from evictions. Furthermore, in times of crisis, they turn ‘dangerous securities for banks and public institutions’ into sources of business.

Need to transform the housing system

The Housing Union has called for the need to ‘reorganize’ the whole housing system: ‘a new socialist housing system’, a basic good such as free, quality and universal housing.

While working in this direction, they remember that they will face self-defence ‘attacks by large and small owners’.