Bank lending conditions, on the other hand, are unlikely
to have held back demand for homes between 2001
and 2005 (Deutsche Bundesbank 2006b).
Instead, low demand conditioned by income and unemployment
trends is likely to have been decisive for the very weak
development of mortgage loans.
The stagnant trend summarises the situation from the perspective
of the construction industry. As well as industrial
companies, Eurostat also asks construction firms about
the factors limiting production (European Commission
2014b, p. 42). The construction sector was much more
strongly affected by lack of demand than industrial
Lack of demand for buildings was particularly
marked between 2000 and 2005, when almost half the
construction firms reported it as a problem.