Pedro Sánchez Makes His Last Gamble

Pedro Sánchez’s coalition won reelection in 2023 based on a real record of measures to rein in the cost of living. Pulling off the same trick now may be much harder, after three years of institutional inertia.

Pedro Sánchez attends an extraordinary parliamentary session to vote on a government housing decree on October 2, 2026, at the Congress of Deputies in Madrid.

A critic of Elon Musk and Israel, Pedro Sánchez takes stronger moral stances than most social democrats. But his government has done little to meaningfully shift power in Spanish society and may pay the price for it in next month’s snap elections. (Javier Soriano / AFP via Getty Images)


Less than two weeks after a wave of housing protests broke out across Spain, on Monday center-left Prime Minister Pedro Sánchez called an early general election. Upending the country’s political agenda in just days, the protests created an opportunity for an embattled Sánchez to go to the polls on more favorable terms. He is now framing the election as a choice between his defense of the social majority and right-wing parties aligned with speculators and vulture funds.

This was a remarkable turn of events, especially as Sánchez’s government had been in the firing line of housing protests just days before. The eviction of eighty-seven-year-old Maricarmen Abascal from her Madrid apartment on September 23 had ignited the largest protests Sánchez has faced from his left flank during over eight years in office. Tens of thousands marched through Madrid three days later, before the Sindicato de Inquilinas (the city’s tenants’ union) set up a sprawling protest camp in the iconic Puerta del Sol square, with similar encampments then springing up in other cities — echoing the Indignados occupations of fifteen years before.

Protesters demanded to know “Where is the progressive government?” and tenants’ union spokesperson Valeria Racu warned: “Either rentierism ends, or the government falls.” They were right to be angry: rental prices in Spain have increased 87 percent in the last decade, nearly three times as fast as wages.

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