Untaxed - how governments lure capital into real estate and feed the housing crisis

So far, the housing crisis has mostly been described as a story of shady real estate companies. But what are the reasons why companies and wealthy individuals have invested so massively into the real estate sector over the past decade?
Investigate Europe's journalists surveyed 14 European countries and found tax breaks that encourage real estate investment in all of them without exception. As tax policy is a national competence, EU bodies have little say in the matter. The misallocation of capital that went into real estate because of these privileges - and would have otherwise gone to other areas - is estimated to be more than €100 billion in Germany alone.
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Art Direction & Motion Graphics Design: Alexia Barakou
Sound design: Aris Athanasopoulos
Narration: Daphne Kouma
Produced by: Reporters United (Athens, Greece)