Sentiment in German housing construction has fallen to a historic low. The government's goal of 400,000 new apartments every year is a long way off.
The outlook for the construction industry for the coming months is bleaker than ever before. High interest and material costs are putting a strain on the industry, says Klaus Wohlrabe, the head of the Ifo Institute in Munich.. The mood among the relevant construction companies in Germany fell to ahistoric low at the beginning of the year. The prospects for the next few months are assessed to be worse than ever.