Germany's housing construction crisis deepens!
Germany's housing construction crisis, triggered by rising credit and material costs, is accelerating. Germany's leading companies are negatively affected. Germany's economy negatively affects the EU.
The Institute for Economic Research (Ifo), one of Germany's leading economic think tanks, published the results of the August survey on the projects of construction companies.
Accordingly, 20.7 percent of companies reported that their projects were canceled in August. The said rate was 18.9 percent in July.
In Ifo's statement, it was stated that many projects that were still profitable at the beginning of 2022 are now no longer economically viable due to rapidly rising construction costs and significantly rising interest rates.