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It is a disturbing piece of information. Let’s put this figure in perspective. The Abbé Pierre foundation estimated in its 2012 report on homelessness that there is a shortage of around 900,000 homes in France to cover the needs of the population. This is not news to French governments: they finance each year the construction of “social housing” at an impressive rate – 124,000 properties in 2011 for a cost of 13.5 billion euros.So, the number of vacant dwellings represents the equivalent of between 8 and 16 years of social housing construction at a total investment of one to two hundred billion euros.Of course, the answer is not simply to requisition every empty property and convert them all to social housing (even though the policy of the extreme left wing political parties is exactly that). Anyway, there would no doubt be a very imperfect match between the nature and the position of the empty dwellings and those that are needed to fill the housing deficit. But the figures demonstrate that France’s housing crisis is not simply due to a lack of properties but to a mal-functioning real-estate market.
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