Germany also has a housing crisis at the moment, at least in the major metro areas where the jobs are.

Tough to increase native population when you don't build enough housing because you have CO2 caps, and you also turned the existing housing stock in a speculative casino table designed to enrich the few asset owners and the banks, and hoping unrestricted immigration that will suppress wages and prop up housing prices enough to get economic "growth".

Basically, Germany is just burning the candle on both ends, economically speaking.