Financialization of housing and the right to adequate housing 2017, para. 55
Paragraph- Paragraph text
- The mere threat of those kinds of claims can have a directive effect on State housing policy. Investment treaty arbitration frequently involves millions of dollars in damages, and thus acts as a disincentive for States to enact and enforce any regulatory measures restricting the profitability of housing or real estate assets purchased by foreign investors. Those whose right to adequate housing may have been infringed by States' failures to regulate the activities and speculative profits of foreign investors, on the other hand, have few if any avenues of redress, and certainly no ability to seek damages in the amounts claimed by private investors. The imbalance in access to remedies creates an imbalance in State accountability and priorities.
- Legal status
- Non-negotiated soft law
- Body
- Special Rapporteur on adequate housing as a component of the right to an adequate standard of living
- Document type
- Special Procedures' report
- Means of adoption
- N.A.
- Topic(s)
- Economic Rights
- Governance & Rule of Law
- Person(s) affected
- N.A.
- Year
- 2017
- Paragraph type
- Other
- Reference
- SR Housing, Report to the HRC (2017), A/HRC/34/51, para. 55.
- Paragraph number
- 55
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