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RE: Recht und billig / Right and proper (cheap)
Ah, you're also the pragmatic type ;-)))
Seriously: the part of Germany with a serious housing shortage is called Germany! There are very, very few (because very, very rural, underdeveloped) areas with vacancies.
Maybe this reform would be triggered by the will to change that. I'm pretty sure the opposite will be achieved: property developers will save themselves money and flats will remain as expensive as ever because demand exceeds supply.