Construction costs are currently skyrocketing

"No risk, no fun" is an absolutely valid life motto. And I don’t mean that ironically. :)

And that isn’t even "No risk, no fun." ;)
Statistically, almost every retiree with property (no matter how encumbered) is better off, often significantly better, than retirees without property. So not only go full throttle into life, but also keep in mind that you can’t go very wrong.

"No risk, no fun" is an absolutely valid life motto. And I don't mean that ironically. :)

Do you know why we are building now instead of staying in the extremely cheap semi-detached house? The "risk" of eviction. I can already foresee that the landlord's children (farmers) will move in here in 12 years and start a family. And then I'll be looking for a new semi-detached house to rent in 2033? How much will that cost? No, my friend, you really can't bring up risk :)

I'd rather pay the 2021 annuity while my salary increases

The origin was the question of why so much is being built today compared to 25 years ago. This relates to the question of construction costs.

There is endless cheap money today. The question of why not so much was built in the 90s also came up. Back then, in retail banking, I still sold fixed-term deposits for over 10% and private construction financers who were almost as expensive (but then only 1% repayment = about 32 years term, if I remember correctly). You think three times whether to build and only do so if it works out. Today, anyone and everyone has to build because money costs nothing. No matter what construction prices say – which naturally follow interest rates inversely.

.... No matter what the construction prices say - which of course follow interest rates inversely.

Yep, that's exactly what I mean. I already wrote that in post #229. The main factor for me in the real estate market in the short term is interest rates. (In the sense of what could bring movement to prices).

And now people can argue again about whether anyone believes in strong inflation + rising interest rates in the short term.

Otherwise, I don't think much will change in the situation, except maybe that some supply bottlenecks will level out again.

Or I’ll ask my acquaintance who got a termination due to personal use two weeks ago. She has to move out in 3 months and with 2 children quickly has to find a new (affordable) rental apartment.

Whataboutism light. And no, she does not have to move out in three months.

Statistically, almost every retiree with property (no matter how encumbered) is better off or significantly better off than the retiree without property.

You notice that yourself, don’t you, or do I have to? ;-) Maybe I should clarify something briefly: I don’t want to talk anyone out of owning property. I myself bought an apartment, built a house, and now live in an old building. And I would do it that way again. My point is only that one should deal with the actual costs before building. Anyone who still thinks rent is “lost” money, in my opinion, is not yet mature enough to make the decision to build. There is a lack of basic understanding. Yes, this triggers a bit now. But it should.

Who still believes that rent is "lost" money,

Rent is paid flexibility and a commitment to deal with wealth accumulation for old age. It is not the rent that is lost money, but the lack of wealth accumulation for old age. And everyone can do that, more or less, throughout their life.