Housing crisis continues to worsen – sentiment has fallen to historic lows. New orders are not being received and projects are being cancelled.
Excessive building regulations and bureaucracy, high raw material prices, increased interest rates and a lack of skilled workers and building land simply make housing construction not profitable. “Otherwise there is a risk that an entire sector of the economy will collapse,” says Dirk Salewski, President of the Federal Association of Independent Real Estate and Housing Companies (BFW)