How reform could rock portugal's housing market

In exchange for an $11 million bailout, Portugal has agreed to make sweeping structural changes, and among them is modernizing the country's housing market.

Good news for landlords, who have long had their hands tied by century-old rent-control agreements and a lengthy eviction process. But for renters, reform could mean a double tragedy. Not only could they be forced from the homes that have been in their families for generations, but many could then also find themselves unable to afford to live anywhere else.

Portugal's rent-control laws, which date back to the beginning of the republic in 1910, mean landlords often find it simply isn't worth their while to rent out their property, leaving abandoned buildings dotting the country.

Source: TIME Magazine