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Madrid's sale of public housing to vulture funds under scrutiny

Original: fondo buitre

Spain is revisiting the 2013 sale of thousands of public housing units in Madrid to investment funds. Reports note that 4,795 publicly owned flats, with tenants still living in them, were sold to Goldman Sachs and Blackstone, while another 1,860 units went to a so-called vulture fund under then-mayor Ana Botella. Critics link the deal to today's shortage of social housing and rising rents.

Why now: The housing crisis has reignited debate over past privatisations of public housing to investment funds.

MadridGoldman SachsBlackstoneAna BotellaEl HuffPost

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