Construction costs are currently skyrocketing

Here are two or three interesting reports of the day from guidants news. The conclusions from them can or must be drawn by everyone themselves:

Russian President Putin: "Hostile states will have to pay for gas in rubles." /

The Chinese Foreign Minister will meet his Indian counterpart in New Delhi for the first time this week to discuss, among other things, the situation in Ukraine. Both India and China indirectly support Russia and resist the Western demands to condemn the invasion. The meeting is remarkable in view of the deadly clashes between Indian and Chinese soldiers in 2020.

The number of mortgage applications in the USA has dropped by 8.1 percent compared to the previous week, after interest rates for 30-year mortgage loans rose by 23 basis points to 4.5 percent. Additionally burdensome are the record-high house prices. The average sale price for a new single-family home now stands at an almost unbelievable $511,000. Just a year ago, the corresponding value was still well below $400,000.

Not directly the construction costs, but concerning the construction project. I signed my financing at the end of January. Monthly annuity approx. €1400.

How much money is available for this? Seven years ago, there would have been a maximum of 450k-500k for this.

How much money is there for it? Seven years ago, there would have been at most 450k-500k for it.

Seven years ago, at the beginning of 2015, interest rates were below today's level, as were the prices.

7 years ago, at the beginning of 2015, interest rates were below today's level, as were prices.

The house that cost 350-375k 7 years ago is now almost 500k.

That's not even exaggerated, at least that's my feeling.

Seven years ago they laughed at you if you wanted to finance half a million with a €1,400 installment.

Almost exactly 2 years ago I obtained the first offers for my home financing. When I think that I pay 175€ interest per month, at the same time kfw has been discontinued and construction costs have increased by 300€/m2 - that's really crazy!