Construction costs are currently skyrocketing

Yesterday there was a very interesting discussion on Markus Lanz. The thesis, or the fact, was that people in Germany have been doing so well in recent decades that luxury items such as owning a house were considered normal. And we have and still live at the expense of others, including Africa. Now we are slowly returning to normality. I can recommend the show to everyone; it definitely gives you something to think about.

that luxury items such as a house as property were considered normal.

About 60% of Germans do not see it that way - they are renters. And compared to abroad, we have a yellow-red light when it comes to the ownership rate. In Germany, renting is often cheaper than abroad.

that people in Germany have simply been doing so well in recent decades,

I also doubt that. At least the general statement. The upper middle class - yes. But the entire lower segment has also not been doing well for decades. If poverty in Germany (relative poverty) has been increasing for decades, that is not a good sign either.

About 60% of Germans don’t see it that way - they are tenants.

Does anyone know nice statistics regarding this distribution related to different regions? And this probably always refers to households?! I assume that the ownership rate in rural areas is significantly higher than in larger cities or even university towns, for example. In rural areas, home ownership has felt like the norm at least since my childhood.

I also doubt that. At least the blanket statement. The upper middle class - yes. But the whole lower segment has not been doing well for decades either. If poverty in Germany (relative poverty) has been rising for decades, that is not a good sign either.

What are you comparing it to? A child in Somalia or the luxury yacht owner in St. Tropez? I myself come from a working-class family (father: welder, mother: cleaner), owning property was never an option. Nevertheless, we lacked nothing. No, we never went on vacation abroad, but what you don’t know... Poverty for me does not mean having a roof over your head paid for and enough money for food. All that is provided by social welfare. The child can also attend daycare and school for free. Personally, I believe that in Germany you are the architect of your own fortune. Of course, there are special cases like serious illnesses, but those occur less frequently. But we are straying from the topic, because this is about building a house. And that should be considered a luxury and not taken for granted.

From DIE WELT:

"The solid financings currently still being observed could be afforded by fewer and fewer people in Germany. 'New construction or property purchase is increasingly becoming an exclusive market where only the wealthiest tenth of the population congregate.'

There is much to suggest that the average person interested in construction financing today is completely different from five years ago. According to his calculation, those interested in construction financing today already have an average net household income of over 5,000 euros per month. Potential property buyers thus represent the top 15 percent of the population."

Honestly, this 5,000 euro threshold surprises me because it doesn’t seem particularly high to me personally. Our household income is pretty much exactly at this level and I rather get the impression that we are more mid-range in our environment.

Buying property has always been a luxury for me and, from my point of view, it will remain so. On the other hand, I do see a clear shift in priorities for some. My younger brother, 23 years old, was totally disappointed last year that he couldn’t finance a new house or at least an existing property 100% with his salary – no equity and no high income. Right now he is advancing a bit professionally and earning a bit more money, and suddenly he wants to finance a nearly new fully equipped Audi like the rest of his clique. Quote: "What’s the point of working if I’m not allowed to treat myself?" Yeah, you can do that, but don’t be surprised later if the money for your own property is missing and you’re still living with your mom at 30…

This 5000 euro limit honestly surprises me because it doesn’t seem particularly high to me personally. Our household income is pretty much exactly at this value and I have the impression that we are more in the middle field in our environment.

Probably in Bavaria, in Brandenburg you are far from that as an "average earner." And usually you have a similar environment.