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Housing crisis threatens Germany: red alert!
Red alert in Germany: Learn the bitter truths about the housing crisis and its impact on the economy. According to industry associations, there is a risk of a devastating development. #housingcrisis #Germany #money
Housing crisis threatens Germany: red alert!
Red alert in Berlin: The housing construction crisis threatens to paralyze Germany! Industry associations warned of a “fatal development” in which the crisis in housing construction could have a massive impact on the economy. Massive job losses, social inequality and climate protection problems could be the result, according to the head of the IG-Bau union, Robert Feiger.
The industry is demanding immediate special funding with annual subsidies amounting to 23 billion euros. 100,000 new social housing and 60,000 affordable apartments are to be created. According to a study by the Pestel Institute, there is a total shortage of 800,000 apartments in Germany, and reality shows that the federal government's goal of creating 400,000 new apartments annually is a long way off.
The forecasts show that new construction activity is likely to decrease in the next few years, due to the increase in loan interest rates and construction costs. Housing construction is directly related to the German economy and has a significant influence on economic growth. One euro invested in the construction industry leads to seven euros in follow-up investments.
In addition, studies show that the industry is almost as important economically as the entire automotive industry. But the situation in the housing construction industry not only endangers economic growth, but also the achievement of climate protection goals. The renovation of old apartments and the construction of energy-efficient new buildings are crucial to achieving net greenhouse gas neutrality by 2045.
As a result of the housing crisis, there is also a shortage of skilled workers, which makes it more difficult to offer attractive and affordable housing for employees. This situation affects not only industries with higher wages, but also professions with traditionally lower salaries. Social inequality is being further exacerbated by the drastic reduction in social housing and rising rental prices in Germany.