Germany's housing market is cracking

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Germany's housing market is cracking

Worries are intensifying about the German housing market, just as the ECB raises rates to a cycle high. Prices fell by the most in Q2 since records began, according to data released Friday. Building permits have also plunged to the lowest since 2015.

That's running head-first into a government goal to build 400,000 apartments per year.

In response, the government is now deferring a plan to require higher insulation standards in new construction, according to a Reuters report. That's likely to steal a headline from a meeting later today between the building industry and Chancellor Olaf Scholz.

                This article was written by Adam Button at www.forexlive.com.

Source: Germany's housing market is cracking

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