Spain Bans Vulture Funds From Buying Cheap Homes
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The Spanish government has a new rule about houses. It stops big investment funds from buying homes very cheaply. People call these funds vulture funds. This name means they buy things for a very low price.
Now, these funds cannot buy a house for less than 70% of its real price. The real price is called the market value. This is part of a new decree. A decree is a new law from the government.
The new decree also talks about rent. Rent is the money people pay to live in a house. A new index will decide if rent can go up before 2028. An index is a system of numbers used to compare or check things.
This index will show the highest rent price for each area. The price is different in different regions of Spain. A region is a part of a country.
The government says these new rules will help people who need a home. Many people in Spain think houses and rent are too expensive now. The government wants to control the housing market. This means all the buying, selling, and renting of homes.
Vocabulary15 words
- investment fund
- a company that uses money to buy things and make more money
- vulture fund
- a fund that buys things for very low prices
- market value
- the real, normal price of something
- decree
- a new official rule from the government
- index
- a system of numbers used to check or compare things
- region
- a part of a country
- housing market
- all the buying and renting of homes
- rent
- money you pay to live in a house that is not yours
- government
- the group of people who run a country
- rule
- something you must or must not do
- cheap
- low in price
- expensive
- high in price
- law
- an official rule people must follow
- price
- how much something costs
- control
- to manage or limit something
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Quiz
Answer key
1. Buy houses for very low prices 2. 70% 3. True
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Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
The Spanish government has a new rule about _____.
It stops big _____ funds from buying homes very cheaply.
People call these funds _____ funds.
Now, these funds cannot buy a house for less than _____% of its real price.
The real price is called the market _____.
This is part of a new _____.
A new _____ will decide if rent can go up before 2028.
This index will show the highest rent price for each _____ of Spain.
The government wants to control the housing _____.
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