Construction costs are currently skyrocketing

Irrational Exuberance (Irrationaler Überschwang) by Robert Shiller is also good. However, currently all alternatives are really not good: real estate is very expensive, stocks are highly valued, deposit interest rates are negative or near zero while inflation is high at the same time, and the interest rate turnaround will lead to large price losses on bonds...

Essential common feature of all bubbles: "This time is different!" There is even a book about it: This Time Is Different: Eight Centuries of Financial Folly

You are of course right about that again :)

Irrational Exuberance by Robert Shiller is also good. Although currently, all alternatives are really not good: real estate is extremely expensive, stocks are highly valued, savings interest rates are negative or near zero while inflation is high, and the interest rate turnaround will lead to high price losses in bonds...

USA: Case Shiller Home Price Index in January +19.1%. Expected was +18.7% after +18.6% in the previous month (y/y). / Can't even tell if it’s worse here or across the big pond. I have sold off German energy-intensive stocks (steel, chemicals). I might soon also have to sell the few Rheinmetall shares I have, they have performed enough.

In the USA, the real estate market is definitely much more volatile. This is partly because Americans take on debt for all sorts of things, while the typical German only does so for the property and has reservations. And partly because in the USA you can simply give your house along with the debts to the bank when the market goes down.

Bundfuture looks at least bad for everyone who wants to buy/needs financing...a correction of the prices must come soon.

It's somehow not normal anymore: the approval has been with the office for almost 3 months. At submission, the interest rate for the construction financing was 1.0%. Now, the application still not approved, 2.1%. That affects the core if you don't even have this 3 months of planning security...

And during that time, the key interest rate in the EU was not raised at all and in the USA by 0.25...