Number the number of foreclosures is still comparatively low
A foreclosure usually occurs when owners can no longer pay their loan. Last year, 1,197 applications for compulsory auctions were submitted to the district courts in Saxony, and 847 in Saxony-Anhalt. No figures are yet available from Thuringia.
Compared to the previous year, the increase is small. That’s why Konstantin Kholodilin from the German Institute for Economic Research sees no reason for concern: “I assume that the number of foreclosures will continue to rise. However, this increase will not be very dramatic. I believe that it will not lead to a slide in the market “That a lot of people are losing their properties and they have to be foreclosed on.”
In fact, the long-term comparison shows that the number of foreclosures is still very low. In 2013, around three times as many properties were registered for foreclosure in Saxony-Anhalt and Saxony as in the previous year. That’s why Andreas Bley, the chief economist at the Federal Association of German Volksbanks and Raiffeisenbanks, sees the increase so far more calmly than others in the industry.
2024-03-07 04:32:33
#Overindebtedness #Slight #increase #foreclosures #Central #Germany #MDR.DE
