This was a reality in Germany for years. This can get really nasty.

The GC CUNY Stone Center community showed up! Max Longmuir and Severin Rapp - current Postdoctoral Scholars and members of the GC Wealth Project team - presented ongoing research projects on wealth.
@smaexie.bsky.social @severinrapp.bsky.social @morellisal.bsky.social

More from Max! Economic causes of rising wealth inequality have received widespread attention, but how have demographic shifts influenced this trend? A new WP by Lisa Klein, @pmlersch.bsky.social & @smaexie.bsky.social looks at Germany's changing demographics & wealth inequality.

bit.ly/3Ilvn6S

Our findings show that implementing this “worst-first” approach is not only climate-effectiv, but that it’s also key to social protection in the energy transition. Full Paper: www.diw.de/de/diw_01.c....

This has clear policy relevance as the EU has adopted a revised Energy Performance of Buildings Directive (EPBD), which mandates upgrades to the worst-performing 43% of buildings.

(A) Cost-sharing cushions the impact of carbon pricing for tenants, especially in inefficient homes—but cannot offset general energy price spikes (B) Targeted retrofits significantly reduce heating costs (by up to 58%) and can virtually eliminate energy poverty among the most vulnerable.

(2) S “Worst-First” retrofit strategy that prioritizes upgrades in the least efficient 30–43% of buildings—those most often housing low-income tenants. Our results show that:

To address this, we compare the effects of two policies under regular energy prices and energy price hikes such as observed in the recent energy price crisis: (1) Carbon pricing with tenant-landlord cost sharing, where landlords bear a greater share of the CO₂ cost if a building is inefficient.

Using the German Socio-Economic Panel (SOEP) data, we show that low-income tenants, who often live in energy-inefficient buildings, are disproportionately burdened, and end up spending up to 17% of their income on heating.

We examine how rising heating costs and carbon pricing impact different income groups in Germany, and investigate how policies can be designed to protect low-income households while advancing decarbonization in the building sector.

Ca. 0.23 in Bobic Vergleichszahlungen...

Elversberg hätte ich auch zu den letzten 3 getippt... unfassbar was da abgeht.