Construction financing - How will it change in the future?

that you have to be very optimistic and willing to take risks to choose a repayment plan that still extends several years into the regular retirement age.

As mentioned, that also depends on the installment amount. If you now have cold rents of 12-14 EUR/m², a typical family of four quickly ends up at 1500 EUR/month and above. As an annuity, you can manage quite a bit with that (even at 100%). And in retirement, alternatively, rent would also have to be paid. Now the objection might be that you need less space in retirement. However, due to general rent increases and inflation, that amount in 40 years will only cover a 2-3 room apartment of 70-80 m² if you don’t want to move out to the sticks. Alternatively, if you really can’t afford the installment anymore, you can still sell in time and accordingly downsize or move farther out. This debt-free-by-retirement is a false obligation. Certainly out of benevolent and risk-averse motives, but not a fixed rule or even a law.

No question, if illness is involved, that doesn't work. As I said, I'm not saying it always works and it's probably not even the majority. But it's also not the case that you have to stop working at 67 in every case.

Furthermore, I assume that in cases of psychological suffering, often a job that is not enjoyable or a destructive working environment plays a big role. And the fact that many physical ailments are also related to a not quite fit psyche has already been proven in studies. But that is a different topic.

That's true, you can work so long that you no longer benefit from the pension and relieve the pension fund. I can assure you, when you approach 50 or have already exceeded it as an employee, you will count the years until retirement and do everything to retire earlier if you have the possibility. Mentally, when you are under 30 or 40 years old, you are not that far yet. Unfortunately, we will no longer write here so you can agree with me when the time comes. But that's okay. When I met my father-in-law 14 years ago, he also wanted to work until 65. Now, due to having passed 62, although he has no major physical problems, it looks different. He likes going to work and actually belongs to the group described in the last paragraph.

But there are also the deluded ones who believe that the company cannot function/work without them.

An employee who is approaching 50 or has crossed this age will count the years until retirement and do everything to retire earlier if he has the possibility.

My father had to stop working in his late 50s and would have very much liked to continue working. Maybe not until 65 but definitely until 62-63. But he also belonged to those people who made “career.” He then tried at some point to put a positive light on his forced retirement. But he also struggled with depression because he was no longer really challenged and needed. The feeling of success and so on was missing. Meanwhile, he has pulled himself together somewhat, but it can also be different.

Unfortunately, we won’t be writing here anymore so you can agree with me when the time comes.

Challenge accepted!
Or it’s just because the forum will be closed by then.
Or that we communicate via Direct Mind Connection...

When I met my father-in-law 14 years ago, he also wanted to work until 65. Now it looks different because he passed 62, although he has no major physical problems.
He likes going to work and actually belongs to the group described in the last paragraph.

But then what is the reason if he actually likes going to work?

That's true, you can work so long that you get no benefit from the pension anymore and thus relieve the pension fund. I can assure you, when you approach 50 as an employee or have passed it, you will count the years until retirement and do everything possible to retire earlier if you have the opportunity. Mentally, under 30 or 40, you are not quite there yet. Unfortunately, we won't be writing here anymore so that you can agree with me when the time comes. But that's okay. When I met my father-in-law 14 years ago, he also wanted to work until 65. Now it looks different due to having passed 62, although he has no major physical problems.
He enjoys going to work and actually belongs to the group described in the last paragraph.

But there are also the blinded ones who believe that the company cannot function or get by without them.

I wouldn't generalize it like that. In Germany, for years it has been instilled in people that work at a certain age is no longer desirable and the maxim has been spread:

Retire as early as possible and stop working!

Personally, I don't think much of that, because work, besides the salary on the bank account, often also includes other aspects such as social contacts and the feeling of being needed. The so-called flexi-pension now enables many work models for older people to combine pension and professional activity. In my previous position as an HR manager, about 10% of our workforce were retirees. Many of them as janitors, cleaning staff, but also in administration.

Among employees close to retirement, there were exactly two types with us. Those who could hardly wait to no longer have to go to work (these had usually become low performers in the years before) and those who said early on that they would like to continue working with reduced hours. But those were also the ones who actually enjoyed their work and were happy to do it.

Therefore, I leave it up to everyone to decide which path they choose. However, I advise choosing a profession that brings joy early on.

those who said early on that they would like to continue working with reduced hours. But these were also the ones who previously really enjoyed their work and liked doing it.

Exactly those I mean and would count myself among them from today's perspective.

As I said, that also depends on the amount of the installments. Nowadays, with cold rents of 12-14 EUR/m², a typical family of four quickly ends up at 1500 EUR/month and above. As an annuity, you can handle quite a bit with that (even at 100%). And in retirement, alternatively, rent would also have to be paid.
Now the objection may be that you need less space in retirement. But due to general rent increases and inflation, the amount in 40 years will only cover a 2-3 room apartment of 70-80 m² if you don’t want to move out into the middle of nowhere. Alternatively, if you really can no longer afford the installments, you can always sell in time and downsize or move further out accordingly.
This debt-free-until-retirement thing is a pseudo-compulsion. Certainly out of benevolent and risk-averse motives, but it’s not a fixed rule or law.

I’ll say it bluntly: your lender reckons you’ll die at any time from the moment you retire and wants to get their money back before the contractual partner disappears. Nothing is more unpleasant from a bank’s point of view than some old houses where the owner has died and there are still 20,000 euros outstanding. For this reason, even retirees with paid-off houses find it so difficult to get loans. And no one knows how high their own pension will be in 20-30 years. The value in the pension statement is completely irrelevant, so what should you calculate with today? Maybe I’ll be on a board in 10 years making 25,000 net per month, or maybe I’ll be disabled and an early retiree.
The retiree in the rental apartment can simply get out of the high burden and downsize. The retiree in the still not paid-off property first needs a buyer for their maybe no longer so nice, unrenovated little house that is eating their last hairs from their head.
We were clearly told in the first meeting: "If the house isn’t paid off by retirement, we’ll close the file right away today." That was obvious to me, and I was surprised when I later found out how loosely other financial institutions apparently handle it.