Manufacturers are grappling with a massive drop in orders as many Austrians’ life dreams are shattered by inflation, rising interest rates and tighter credit rules. In total, only 2440 prefab homes will have been sold in 2022 – less than in the past 22 years. Now manufacturing jobs are shaky.
The gap between wish and reality is widening: 70 percent of Austrians would like to live in a house in the countryside, but many can no longer afford it. “Especially for the manufacturers of prefabricated houses, the framework conditions are now a turning point,” says consultant Andreas Kreutzer, “as they significantly meet the demand of the middle class, which is more strongly influenced by inflation and the changed financing conditions than well-to-do homebuilders .”
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
