A snapshot of the German real estate market suggests that the Germans will be spared the fate of the Chinese, a blatant deflation on the real estate market, for the time being. At least here the fiat bubble system is working perfectly again, prices are rising, housing is becoming less affordable again, everything is fine. Bravo ECB!
By the way: the regulatory frenzy with which German politicians have destroyed German housing construction also serves only one purpose: to keep supply tight so that prices can continue to rise.