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The German Property Crisis Is Claiming Its First Big Victims

(Bloomberg) In July this year, Nuremberg’s mayor celebrated the final beam being placed atop the redeveloped Quelle building, a monumental 1950s symbol of postwar Germany’s economic revival. Revamped with offices, shops and homes, a big part of the giant complex was slated to open in 2024.Most Read from BloombergAlmost Anyone Can Become the House Speaker, Except Donald TrumpKey Taiwan Tech Firms Helping Huawei With China Chip PlantsOzempic Is Making People Buy Less Food, Walmart SaysUS Stocks ....

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Germany's housing sector slumps into crisis

Valeriy Shevchenko felt like he made the purchase of his lifetime when he beat a queue of prospective buyers to secure a two-bedroom apartment in one of Berlin's most popular districts.My money is the fruit of my labour," said Shevchenko, who had already paid up 250,000 euros ($266,100) for the apartment he bought for half a million euros.  ....

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