Foundation for Economic Education » German City Privatizes Public Housing

German City Privatizes Public Housing

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[Dresden Mayor Ingolf] Rossberg reached a deal in March to sell Dresden's entire stock of 48,000 city-owned apartments to an American private equity firm, the Fortress Investment Group, for $1.2 billion. In a single stroke, Dresden wiped out its burdensome public debt. (New York Times ^[1], Friday)

Let the free market work!

FEE Timely Classic
Privatization: The Rediscovery of Entrepreneurship ^[2] by William H. Peterson

Article printed from Foundation for Economic Education: http://www.fee.org

URL to article: http://www.fee.org/articles/in-brief/german-city-privatizes-public-housing/

URLs in this post:

[1] New York Times: http://www.nytimes.com/2006/05/05/business/worldbusiness/05property.html

[2] Privatization: The Rediscovery of Entrepreneurship: http://www.fee.org/publications/the-freeman/article.asp?aid=1347

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