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Tuesday, February 9, 2010

The rich to subsidize the poor in lebanon

This is about the new proposed rent law in Lebanon. Recently the bank deposits in Lebanon have increased dramatically. So much so that the banks have stopped taking deposits because they can't return the high interests that they advertise. So the new law is in the books to free the old rents in Lebanon, forcing a big part of the population to buy mortgages. And Guess who would benefit from all the mortgages, the rich that's who.
The rich who have money in the banks in Lebanon will get high interest from the mortgage pavements that the poor will be making to pay for their homes.

Of course, Harriri was able to take people's properties for free in Solidere. That is not a problem. But what is the problem is those people who live in old rents who have payed for their properties. And they don't even want to give them adequate compensation so that they can get new homes. They are proposing 20% of the real estate value.

Another point about those homes. Why did the property rise so much ? This is because Iraqis have come to the country and started buying property. Now, I am not against giving refuge to those people God knows they suffer from a persecuting in Iraq, but why allow them to buy houses. Why allow Lebanon to be sold to Arabs ?

In Beirut the price of a 1 square meter is 2000 dollars. No working class Lebanese can afford these prices.

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