German housing crisis deepens…

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Bloomberg: Germany’s housing sector slumps deeper into crisis as project cancellations hit a record

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Germany’s housing sector slumped deeper into crisis as project cancellations hit a record, prompting construction companies to become more pessimistic about the future than ever before.

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In September, 21.4% of residential builders said they were affected by construction projects being called off, according to a survey by the Munich-based Ifo Institute. That was the highest level since records began in 1991 and worse than August’s 20.7%.

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