A wave of housing privatization may be coming. “If the president gets his way, he could usher in a period of privatization, and redirect the EURO 40 billion the French state pumps into five million subsidized housing units every year.” Rolf Buch, chief executive of the real estate company Vonovia, is eagerly waiting to see what Macron will do. “The outcome is open. We will also look at the Netherlands and Sweden.”