Construction crisis and wave of bankruptcies are far from over – experts warn of “disastrous situation in housing construction” “The prospects remain bleak, Unfortunately, an upswing in the construction industry is not expected any time soon,” says the Munich Institute of Economic Research. “It's best to have a 'young' used property, as the risks such as insolvency of the developer, timely completion, double burden due to construction time or additional financing due to additional costs are significantly lower than with a new building”