That means collapse.

German homebuilding collapse threatens wider economic damage – Once-thriving residential construction industry has slumped, posing drag on EU’s largest economy.

Across Germany, homebuilders are facing such a sharp reversal in their fortunes that the downturn in residential construction is threatening to have broader repercussions across Europe’s largest economy.

Many have declared themselves insolvent, dampening Chancellor Olaf Scholz’s target of building 400,000 new homes a year to tackle a housing affordability crisis in several of the country’s largest cities.