There is growing fear in the construction industry of a wave of bankruptcies that threatens to permanently lose skilled workers. Expensive materials and increased financing costs deter many potential home builders and investors.
In German housing construction, almost every fifth company is currently affected by canceled orders. The lack of political measures would destroy trust and thus further slow down housing construction.. The construction crisis continues unhindered, and the level of frustration is constantly increasing. The number of approvals also fell significantly for multi-family houses – the largest type of building in terms of numbers here it fell by 21.5 percent to 18,600.. In March, 56.2 percent of companies reported a lack of orders. “The situation in housing construction remains tense," said Ifo survey chief Klaus Wohlrabe. "There are too few new orders added to the cancellations." "It annoys me when I see that the political leaders in Berlin are being trampled on," said the President of the Hessian and Thuringian construction industry.