Years of work of a large part of the housing industry, reports to convince all rounds, in particular the successive housing ministers: the status of the private lessor, according to a fairly obscure expression to which we prefer the status of the rental investor, gave a hard time before seeing the light of day. And then at one point, a conjunction of favorable stars, with a minister, Valérie Létard, wishing to find after forty years of tax exemption an intelligent succession at the economic level, simple and likely to seal a contract between the State and the French ready to mobilize their debt capacity to house third -party households. A Minister of Housing, of course, but also a Minister of the Sensitive Economy on the subject, in the name of the needs of companies to be able to house their employees to develop or to settle in the territories.
The alignment of the planets went further: from the end of July, thanks to a meeting at the top, the Prime Minister arbitrator and sweeps up lukewarm and objections of all kinds. He drives the highlight last Thursday during the meeting of French entrepreneurs organized by MEDEF, by affirming the need to create a universal amortization mechanism. We can no longer doubt that the finance bill for 2026 will include this measure. Only here, the same Prime Minister, who supports this fiscal progress expected for so long, diagnoses that France must drastically reduce its deficit, which mine and ends up disqualifying it in the eyes of the markets and mortgages future generations; On July 10, he proposed a saving plan of nearly 44 billion which has the heart of agreeing to anyone, neither to citizens, nor to political parties, with the exception of sensitivities closest to his. And again! He chooses to try everything for everything, not to wait for the draft budget translating these savings to be presented to the vote of the Parliament, and announces that on September 8 he will ask the deputies to vote the confidence made to the government he directs. The arithmetic of voices, when these lines are written, causes François Bayrou to hover a major risk: in the very likely hypothesis where distrust prevails over confidence, the Prime Minister will be reduced to present the resignation of his government to the President of the Republic.
Real estate amortization could pay the price for the revisit of the PLF 2026
The mechanical consequence? The initial finance bill for 2026, at the origin of the Prime Minister’s political discredit, will fall with him and another copy will be written by his successor, to hope for a vote before the end of the year. Consequently, real estate amortization could pay the cost of revisiting the text. Can it nevertheless escape this fatal spell? It is not unimaginable, but it is not acquired. The debate on economies, we hear it every day, is not technical but ideological. The old divisions between social classes stand out, to distinguish between those which it is normal to make contribute to the absorption of the public deficit and the others. We heard during a recent debate in the National Housing Council on the modification of the primary energy coefficient of the DPE of associations criticizing the amortization project for constituting a gift to the donors … If we strive to want the measure and erect it as a marker, we will succeed and we will weaken it.
What to do? It is urgent that the professional housing organizations, which have focused on the baptismal font this tax status, ensure with all political groups that they will not sacrifice the damping in the name of one does not know what political consideration far from the concern to abound the private rental park to house French households. Because what is striking is that the historical disorder that a new reversal of the government in place would produce is underpinned by wills to put down the current political equation, and that the interest of the socio-economic stability of the country does not seem to obsess the minds of political decision-makers. It must be said high and loudly: without this damping for new and existing housing, the competitiveness of companies is compromised, the satisfaction of the needs of the French with it, and the promoters will not revive construction operations without the reservations base given to them the demand of investor households, ensuring them the minimum premprise required by banks to finance a program. A beautiful mess, in the name of the desire to disavow a Prime Minister.
A disaster for accommodation
We bet that these torments to which the French do not understand much, even if it provokes them for many by refusing shared economic efforts and by giving matters and unions to want to upset the balances of the country, will not take with them the tax status of the investor. It would be a disaster for the housing of our compatriots, their serenity, the country’s ability to reconnect with honorable growth and the insurance of tax revenue – the order of 5 billion from the first year – decisive to invigorate France.
