2024-07-07 16:22:05
The dream of having your own four walls threatens to become a nightmare: According to experts, rising property prices are endangering the social balance.
In the opinion of the head of the Schwäbisch Hall building society, rising property prices have the potential to be “a massive social dynamite”. “80 percent of people want to live in their own four walls. This also applies to the younger generation of 20 to 30-year-olds,” said CEO Mike Kammann to the “Südwest Presse” (Ulm/Saturday). “A lifelong dream is being shattered. That disillusioned people.” He suspects that politicians will try to treat the symptom with laws – such as a rent cap – instead of tackling the root of the problem.
After reunification, around 700,000 housing units were completed in Germany each year, said Kammann. There was an oversupply and prices fell. “Now we need to make full use of all capacity. We have enough potential,” he said.
“But the way things are, we will have to live with a real estate shortage plus rising rents over the next ten years. This cannot be stopped if we do not act proactively now.” However, with a view to the upcoming federal election, he does not expect any impetus in the next twelve months.