KfW BEG funding stopped 261, 262, 263, 264, 461, 463, 464

Why should I as a landlord then take the risk to create living space if I don't get a return? Then I'll just buy myself a Porsche with the money

For a Porsche, profits are enough after all - if you had write-offs, it would be enough for a Bugatti :-)

So, real estate will get much more expensive? Today hardly anyone can afford it already

No no, the fact is, more people can afford a house than ever before, otherwise the KfW wouldn't have this flood of applications.

where should the price stagnation come from?

Rising interest rates. This boundless flooding of the markets with more and more free money cannot go on forever.

It can't be that over 20,000 applications were not automatically approved...hm...

Yes, I initially thought it was a system glitch, so that it was fewer than 100 cases.

I wonder how many KFW-55 applications were automatically accepted in the same period. And what were the criteria?!

Why don’t people see real estate more as an investment like securities? When I look at the value developments of the properties we manage, these are value increases of sometimes 200, 300% in 10 years.

Because that doesn’t work like that in the long term. Look at a house price index, there you can calculate the inflation more or less over many years. That’s logical since housing is a basic need and significantly drives inflation. Accordingly, society can have no interest in real estate having value increases significantly above general wage growth in the long term. Sure, there are regions where it goes better and also regions where it goes worse. The last 10 years, the latter were quite rare and nearly everywhere it doubled, but that is not normal. Before that, for a long time there was almost nothing to gain in terms of value increase if you subtract inflation. And the value increase of recent years was also strongly driven by falling interest rates. But there is a limit to that, unless we experience negative interest on mortgages. Adding to that is demography. Look at the baby boomers who are now all sitting in their houses and condominiums together or alone. And now go 20 years into the future when most of them are deceased but far fewer young people follow. That will hit some areas significantly harder than others, but on average that is not a factor that makes investments in real estate attractive.

So we have 20,200 people who submitted their applications on time but were arbitrarily and without any criteria removed from the priority list!

There is no arbitrariness involved.
Random checks are completely fine and also sensible.
With a funding pool, the rule is "while supplies last." It's just bad luck for those who want to get in where nothing is left. But nothing more than bad luck.

But it should be that way. May I quote the Basic Law to you? Article 14 (2) "Property entails obligations. Its use shall also serve the public good."

I don't have a car. I would come by briefly tomorrow and borrow yours.