“…We also did not know how the change in the economic cycle was developing since the bursting of the Spanish real estate bubble, although we suspected that what was being built was in fact ‘another twist’ to the same financial and real estate model that had led to the crisis. We now know that it was the foundation of a new bubble, which on this occasion is mainly focused on rental housing, and we share the disillusion of recent research on the regulatory effects of the municipalist governance of that period in (Arampatzi and Janoschka, 2022; Janoschka and Mota, 2020).…”