Construction costs are currently skyrocketing

Whereas in the other product groups, of course, energy price increases are already included, at least partially. Gas and fuel have been expensive for quite some time now.

I cannot agree with you on this point. There has never been an energy crisis that did not result in a recession.

That is basically true. But my point was to tell our troll that not everything suddenly becomes 80% more expensive – many products/raw materials do have price increases, but these are marginal compared to energy. Apart from that, I personally assume that we will not experience a real energy crisis. Shortages yes, high prices yes – but unlike 1973, today it is more of a realignment.

That is basically true. But my point was to tell our troll that not everything suddenly becomes 80% more expensive – many products/raw materials have price increases, but these are marginal compared to energy.

This, in turn, Peter never claimed – he talked about +31%. Which is true on average weighted across all products excluding the producer, as later confirmed in the thread. Therefore, I don't really understand your point.

I have just read that the EU has imposed an embargo on Russian timber imports. The construction price index increased by 14.3% in February 2022 compared to 2021. In my opinion, the war situation has not yet been factored in. I estimate that it could quite possibly be 30% or more.

Peter never claimed that either - he talked about +31%. Which is true on the weighted average across all products excluding producers as further confirmed later in the thread. So I don’t really understand your point.

Fat fingers - I wrote 80% :rolleyes:

But yes, on average 30%. Of the 30% average (how was it weighted with which quantities?), building materials only have a negligible share. Energy nearly 90%, the rest partly in single digits (although energy is already included there).
This does not mean that house construction suddenly becomes 30% more expensive just because the average is 30% - firstly, materials only account for, say, about half and secondly, they only got 5-10% more expensive ("exceptional cases" excluded).

Such Destatis tables are more informative (although not yet available for 2022):

Yesterday, something about the insolvency of an Austrian construction company went by in the feed (Scalahaus or something). With 120 affected homebuyers, it doesn't sound that tiny either (so not a "we build 3 houses a year" company). Honestly, I don't really follow whether this happens more often or not, but it is somewhat creepy. Especially since the reasons (fixed prices led to losses due to rapidly rising costs) don't really seem to be easing so far.