Housing crisis: German Builders want Billions in Subsidies

Germany: Industry organizations have issued a warning that a decline in the construction of new homes in Germany poses a risk of derailing the country's economic recovery and exacerbate political differences. They have also called for yearly subsidies of 23 billion euros, which is equivalent to 24.70 billion dollars, in order to address the dilemma.

The subsidies should be used to construct 100,000 social housing units and 60,000 new affordable homes, according to what they stated on Thursday. This would allow for the ability to absorb an inflow of workers, prevent people from falling into poverty, and generate new employment opportunities in the economically important sector.

Source: Reuters