Another huge reason is that Germany has curbed its subsidized housing program since the early 90s. Every year, hundreds of thousands of apartments fall out of f

Another huge reason is that Germany has curbed its subsidized housing program since the early 90s. Every year, hundreds of thousands of apartments fall out of fixed price agreements, but only very few new subsidized housing is built. (Subsidized housing as in: The government subsidizes your housing project if you agree to fixed rents for a certain period of time, afaik 20 years or so.)