Home loan volumes in Europe have actually collapsed.

Buyers can no longer fund themselves with loans at the level of previous years due to considerably greater interest rates.And yet, the ECB has actually not yet spoken its last word on tightening up financial policy.Raising rates of interest further will neither stop inflation nor avoid the property markets collapse.The ECB is powerless in the face of changes in the world energy market and is in a difficult situation.

That the first peak of inflation is behind us does not indicate that the reasons for the continuous inflation have disappeared.Many alerted numerous times about the property market, especially in China (where omens for the storm last year brought the fall of Evergarde).

Now, unfortunately, the scenario appears to be emerging.

The graph speaks more than words.