Construction costs are currently skyrocketing

What is happening now is a great show by the ECB. It was "determined" that many Southern EU countries (Italy, Portugal, etc.) cannot afford an interest rate increase at all, but the Northern "richer" ones (Germany, Holland, Austria, etc.) can. So what do they do? They simply continue to buy the bonds of the Southern EU countries and not those of the Northern ones. This results in cheaper loans for Italy and others while loans become more expensive for the Northern countries. So it is a redistribution of money from North to South.

What is happening now is a real blockbuster by the ECB. It has been "determined" that many Southern EU countries (Italy, Portugal, etc.) cannot afford an interest rate hike at all, but the Northern "richer" ones (Germany, Holland, Austria, etc.) can. So what do they do? They simply continue to buy the bonds of the Southern EU countries and not those of the Northern ones. This means that Italy and co get cheaper loans while the Northern countries get more expensive loans. So it is a redistribution of money from North to South.

The fundamental problem is not new and has been known for a long time. Of course, QE is a form of government financing, but pretending that only the southern countries benefited from it is ridiculous. Even German government bonds remain historically cheap; the recent (strong) interest rate hikes do not change that. What was withheld from the poor German saver in risk-free interest income has not only relieved the state budget for over a decade but has actually supported it. We were foolish to cling to the balanced budget ("black zero") in such times. We have a massive investment backlog and could have done so much with so little in the last 10 years.

The question is how to get out of these measures as unscathed as possible. What is your counterproposal? Will we be better off if the southern countries are driven into the wall?

If the ECB lowers interest rates and does QE to save the economy (jobs, etc.), people complain because there are no longer any interest payments on savings accounts. Then there is inflation, and people complain as well. Then the ECB does something (tentatively!) against inflation, and people complain again. There is only constant complaining.

What is happening now is a great show by the ECB. It has been "established" that many southern EU countries (Italy, Portugal, etc.) cannot afford an interest rate hike at all, but the northern "richer" ones (Germany, Holland, Austria, etc.) can. So what do they do? They simply continue to buy the bonds of the southern EU countries and not those of the northern ones. This results in cheaper loans for Italy and co, while loans become more expensive for the northern countries. So a redistribution of money from north to south.

Right that you put "richer" in quotation marks. There is little that annoys me, but the claim that we are a "rich" country annoys me. Lower home ownership rate, lower pension level, but at the same time among the highest working life spans. The highest household electricity prices in Europe. The price level index is okay. The EU is given as value 100%, we are at 108.2%.

That sounds very much like all those stock market regulars' talks around 2001. ;)

I don't know those now, tell me about them. Apparently, there are many "financial experts" hanging around here.

The construction industry itself already has enough to do through public contracts and companies even without EFHs. Much more interesting is what happens when orders in commercial and multi-family housing construction collapse.

It's right that you put "richer" in quotation marks. There is little that annoys me, but the claim that we are a "rich" country annoys me. Lower home ownership rate, lower pension level, but a high lifetime working time. The highest household electricity prices in Europe.
Price level index is okay. The EU is set at a value of 100%, we are at 108.2%.

First, please define rich. For me, rich means that I don't have to worry about whether there will be something on my plate tomorrow and whether I have a roof over my head. Even if I am or become unemployed, the state steps in for me. There is more than enough work so that you can always find something.

For example, if I look at Poland where nurses work in two hospitals and that for 12+ hours a day, but here one job is enough to get by well, then I would say that we live in a very rich country.
Another example would be healthcare. In Germany, almost everything is paid for. In Poland, it is often the case that parents beg for money on social platforms so that their child can continue to live, because the state does not pay for many expensive treatments.

And now that interest rates are rising and fewer people can afford a home of their own is unfortunate but not a catastrophe. Home ownership is a luxury.