Skilled workers: layoffs in construction cause permanent loss
The construction industry has a "gastro effect" before. Because more and more construction projects are currently being put on hold due to high costs. This in turn leads to skilled workers being laid off and also looking around in other industries. But once they have left, they usually don't come back. This exacerbates the crisis. Because there is currently still a shortage of 700 nationwide.000 apartments.
Although around 700.000 apartments are missing, housing construction is faltering. Last year, real new orders fell by 9.6 percent compared with the previous year. This is alarming for the Industriegewerkschaft Bau-Agrar-Umwelt (IG Bau). "Actually, there should be significantly more residential construction – more new construction, more conversion, more renovation," wonders IG Bau board member Carsten Burckhardt. "Instead, incoming orders are slipping away, especially in residential construction. More and more players are pulling out – not only listed companies such as Vonovia or Deutsche Wohnen, but also some municipal, cooperative and church housing companies are currently putting construction projects on hold". He goes on to emphasize that there is a shortage of 700.000 apartments are missing and it is the biggest housing deficit in around 30 years.