The real estate sector was a bedrock of Germany’s economy for years, accounting for roughly a fifth of output and one in 10 jobs. Fuelled by low interest rates, billions were funnelled into property, which was viewed as stable and safe until the latest spike in borrowing costs.
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That kids is why houses should not be a commodity.
In standard German tradition, I’m presuming they’ll end up taking this out on anyone but their own elite.
