Thread by @DellAnnaLuca

My grandma’s apartment is valued at 95k€ ($108k)

The Italian government is paying for a 81k€ ($92k) intervention to improve its energetic efficiency. That’s 85% of the house value. Our cost: 650€ ($740).

And it’s a nation-wide program.

Good luck repaying this national debt.

My problem is not just with the absolute costs but also with the government removing most incentives for landlords to be cost effective.

My Occam's razor for why these incentives:

If you’re a landlord, your buildings just got a free bump in value (after you do the works which are free).

If most parliament members are landlords…

The easiest test to spot the bullshit:

after the energy-saving intervention, will my grandma’s apartment appreciate 85%?

Someone asked for a break-even analysis.

Yearly heating costs are 148k€ for 2020.
That's 1/122 of the intervention cost.

If energy costs double, that's a 61 years B/E.
On a 45-yo building.

(deleted the previous B/E analysis because I looked at the wrong heating costs)

The Italian government is also covering up 110% of costs up to 96k€ *per apartment* to reduce seismic risk. E

Even in cities that three years ago were in the lowest seismic risk areas and got recently moved to the second-lowest of four risk categories (such as Turin area).